OSLO (Thomson Financial) - StatoilHydro ASA said its expects its average daily oil production in 2008 to come in at 1.75 mln barrels per day, well up on the 1.15-1.2 mln bpd range expected for 2007.
In 2008, the Norwegian oil firm said its average daily production will be affected by a number of production sharing agreements.
Not accounting for these agreements, which will reduce its own entitlement, StatoilHydro said it sees total average daily production in 2008 of nearer 1.9 mln bpd.
Its estimates, it said, are based on an average oil price next year of 75 usd per barrel.
2008 capital expenditure is seen at 75 bln nkr, up from 65 bln in 2007, while exploration expenditure for 2008 is seen at 18 bln nkr, up from a range of 15
16 bln this year.alastair.reed@thomson.com ar/rfw COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.