##### 



Exhibit 99.2 Operational data  Exploration and production Proved reserves as of 31 December, 2003 (SEC definition) Hydro's shareHydro
    
    
    Total
    
    
    Oil/NGL
    
    
    Gas
    
    
    Gas
    
    
    Prod.Field
    
    Block
    
    Operator
    
    %-interest
    
    
    mill.boe
    
    
    mill.boe
    
    
    bill.cf
    
    
    bill.Sm3
    
    
    start upTroll
    
    31/2, 31/3, 31/5, 31/6
    
    Hydro/
Statoil
    
    
    9.78
    
    
    
    534
    
    
    
    62
    
    
    
    2,739
    
    
    
    77.4
    
    
    
    1995
1996Oseberg fields
    
    30/6, 30/9
    
    Hydro
    
    
    34.00
    
    
    
    355
    
    
    
    127
    
    
    
    1,261
    
    
    
    35.6
    
    
    
    1988Grane
    
    25/11
    
    Hydro
    
    
    38.00
    
    
    
    200
    
    
    
    200
    
    
    
    0
    
    
    
    0.0
    
    
    
    2003Åsgard
    
    6407/2, 6506/11,12, 6507/11
    
    Statoil
    
    
    9.60
    
    
    
    153
    
    
    
    65
    
    
    
    496
    
    
    
    14.0
    
    
    
    1999Snorre fields
    
    34/4, 34/7, 33/9
    
    Statoil
    
    5.98-17.65
    
    
    
    133
    
    
    
    123
    
    
    
    46
    
    
    
    1.3
    
    
    
    1992Snøhvit
    
    7120/6,7,8,9, 7121/4,5,7
    
    Statoil
    
    
    10.00
    
    
    
    71
    
    
    
    10
    
    
    
    338
    
    
    
    9.5
    
    
    
    2005Ekofisk fields
    
    2/4, 2/5, 2/7
    
    ConocoPhillips
    
    5.81-6.65
    
    
    
    87
    
    
    
    74
    
    
    
    70
    
    
    
    2.0
    
    
    
    1971Visund
    
    34/8, 34/7
    
    Statoil
    
    
    20.30
    
    
    
    83
    
    
    
    35
    
    
    
    274
    
    
    
    7.8
    
    
    
    1999Sleipner fields
    
    15/6, 15/9, 16/7
    
    Statoil
    
    8.85-10.00
    
    
    
    55
    
    
    
    15
    
    
    
    223
    
    
    
    6.3
    
    
    
    1993Kvitebjørn
    
    34/11
    
    Statoil
    
    
    15.00
    
    
    
    49
    
    
    
    13
    
    
    
    191
    
    
    
    5.4
    
    
    
    2004Kristin
    
    6406/2, 6506/11
    
    Statoil
    
    
    12.00
    
    
    
    36
    
    
    
    22
    
    
    
    83
    
    
    
    2.3
    
    
    
    2005Gullfaks fields
    
    34/10, 33/12
    
    Statoil
    
    
    9.00
    
    
    
    36
    
    
    
    24
    
    
    
    67
    
    
    
    1.9
    
    
    
    1986Fram Vest
    
    35/11
    
    Hydro
    
    
    25.00
    
    
    
    22
    
    
    
    18
    
    
    
    22
    
    
    
    0.6
    
    
    
    2003Tune
    
    30/8, 30/5, 30/6
    
    Hydro
    
    
    40.00
    
    
    
    22
    
    
    
    3
    
    
    
    102
    
    
    
    2.9
    
    
    
    2002Mikkel
    
    6407/5,6
    
    Statoil
    
    
    10.00
    
    
    
    21
    
    
    
    9
    
    
    
    67
    
    
    
    1.9
    
    
    
    2003Norne
    
    6608/10, 6508/1
    
    Statoil
    
    
    8.10
    
    
    
    16
    
    
    
    12
    
    
    
    24
    
    
    
    0.7
    
    
    
    1997Byggve/Skirne
    
    25/5
    
    Total
    
    
    10.00
    
    
    
    4
    
    
    
    1
    
    
    
    16
    
    
    
    0.5
    
    
    
    2004Vale
    
    25/4
    
    Hydro
    
    
    28.53
    
    
    
    4
    
    
    
    1
    
    
    
    18
    
    
    
    0.5
    
    
    
    2002Njord
    
    6407/7,10
    
    Hydro
    
    
    20.00
    
    
    
    4
    
    
    
    4
    
    
    
    0
    
    
    
    0.0
    
    
    
    1997Brage
    
    31/4, 30/6, 31/7
    
    Hydro
    
    
    20.00
    
    
    
    2
    
    
    
    2
    
    
    
    0
    
    
    
    0.0
    
    
    
    1993Frigg
    
    25/1
    
    Total
    
    
    19.99
    
    
    
    1
    
    
    
    0
    
    
    
    4
    
    
    
    0.1
    
    
    
    1977Ormen Lange
    
    6304/9 6305/1,2,4,5,7,8
    
    Hydro/Shell**
    
    
    18.07
    
    
    
    234
    
    
    
    14
    
    
    
    1,239
    
    
    
    35.0
    
    
    
    2007Oseberg Vestflanken
    
    30/6, 30/9
    
    Hydro
    
    
    34.00
    
    
    
    12
    
    
    
    5
    
    
    
    37
    
    
    
    1.1
    
    
    
    2005Total Norway
    
    
    
    
    
    
    
    
    
    
    2,134
    
    
    
    839
    
    
    
    7,317
    
    
    
    206.8Dalia***
    
    Block 17, Angola
    
    Total
    
    
    10.00
    
    
    
    35
    
    
    
    35
    
    
    
    0
    
    
    
    0.0
    
    
    
    2006Girassol***
    
    Block 17, Angola
    
    Total
    
    
    10.00
    
    
    
    27
    
    
    
    27
    
    
    
    0
    
    
    
    0.0
    
    
    
    2001Terra Nova
    
    Grand Banks, Canada
    
    Petro-Canada
    
    
    15.00
    
    
    
    26
    
    
    
    26
    
    
    
    0
    
    
    
    0.0
    
    
    
    2002Kharyaga***
    
    Timan Pechora, Russia
    
    Total
    
    
    40.00
    
    
    
    23
    
    
    
    23
    
    
    
    0
    
    
    
    0.0
    
    
    
    1999Hibernia
    
    Grand Banks, Canada
    
    HMDC*
    
    
    5.00
    
    
    
    15
    
    
    
    15
    
    
    
    0
    
    
    
    0.0
    
    
    
    1997Mabruk***
    
    Sirte Basin, Libya
    
    Total
    
    
    25.00
    
    
    
    12
    
    
    
    12
    
    
    
    0
    
    
    
    0.0
    
    
    
    1995Murzuq***
    
    Sirte Basin, Libya
    
    Repsol
    
    
    8.00
    
    
    
    10
    
    
    
    10
    
    
    
    0
    
    
    
    0.0
    
    
    
    2003Jasmim***
    
    Block 17, Angola
    
    Total
    
    
    10.00
    
    
    
    6
    
    
    
    6
    
    
    
    0
    
    
    
    0.0
    
    
    
    2003Total International
    
    
    
    
    
    
    
    
    
    
    154
    
    
    
    154
    
    
    
    0
    
    
    
    0.0Total
    
    
    
    
    
    
    
    
    
    
    2,288
    
    
    
    993
    
    
    
    7,317
    
    
    
    206.8
  *
    
    HMDC : Hibernia Management Development Company.**
    
    Hydro is operator for the field development. Shell is operator for the field operation.***
    
    Fields with production sharing agreements (PSA). 99.2-1




---



##### 



Exploration and production 2003 Production of oil and gas Hydro's shareHydro
    
    Total
    
    
    Oil/NGL
    
    
    Gas
    
    
    Gas
    
    
    Remaining
    
    
    LicenceField
    
    Operator
    
    %-interest
    
    mill.boe
    
    
    mill.boe
    
    
    bill.cf
    
    
    bill.Sm3
    
    
    Prod. period
    
    
    PeriodOseberg fields
    
    Hydro
    
    34.00
    
    
    42
    
    
    
    38
    
    
    
    22
    
    
    
    0.6
    
    
    
    2013-2020
    
    
    
    2031Troll
    
    Hydro/Statoil
    
    9.78
    
    
    29
    
    
    
    14
    
    
    
    91
    
    
    
    2.6
    
    
    
    2030
    
    
    
    2030Snorre fields
    
    Statoil
    
    5.98-17.65
    
    
    25
    
    
    
    24
    
    
    
    5
    
    
    
    0.1
    
    
    
    2013-2020
    
    
    
    2009-2024Åsgard
    
    Statoil
    
    9.60
    
    
    15
    
    
    
    9
    
    
    
    33
    
    
    
    0.9
    
    
    
    2025
    
    
    
    2027Sleipner fields
    
    Statoil
    
    8.85-10.00
    
    
    13
    
    
    
    4
    
    
    
    46
    
    
    
    1.3
    
    
    
    2005-2014
    
    
    
    2014-2018Tune
    
    Hydro
    
    40.00
    
    
    11
    
    
    
    3
    
    
    
    45
    
    
    
    1.3
    
    
    
    2009
    
    
    
    2032Ekofisk fields
    
    ConocoPhillips
    
    5.81-6.65
    
    
    10
    
    
    
    9
    
    
    
    8
    
    
    
    0.2
    
    
    
    2018-2021
    
    
    
    2028Gullfaks fields
    
    Statoil
    
    9.00
    
    
    10
    
    
    
    8
    
    
    
    10
    
    
    
    0.3
    
    
    
    2010
    
    
    
    2009-2016Norne
    
    Statoil
    
    8.10
    
    
    5
    
    
    
    4
    
    
    
    2
    
    
    
    0.1
    
    
    
    2013
    
    
    
    2026Brage
    
    Hydro
    
    20.00**
    
    
    3
    
    
    
    3
    
    
    
    1
    
    
    
    0.0
    
    
    
    2006
    
    
    
    2015-2017Visund
    
    Statoil
    
    20.30
    
    
    2
    
    
    
    2
    
    
    
    0
    
    
    
    0.0
    
    
    
    2022
    
    
    
    2023Njord
    
    Hydro
    
    20.00**
    
    
    2
    
    
    
    2
    
    
    
    0
    
    
    
    0.0
    
    
    
    2007
    
    
    
    2021-2023Grane
    
    Hydro
    
    38.00
    
    
    2
    
    
    
    2
    
    
    
    0
    
    
    
    0.0
    
    
    
    2023
    
    
    
    2030Frigg
    
    Total
    
    19.99
    
    
    1
    
    
    
    0
    
    
    
    8
    
    
    
    0.2
    
    
    
    2004
    
    
    
    2015Fram Vest
    
    Hydro
    
    25.00
    
    
    1
    
    
    
    1
    
    
    
    0
    
    
    
    0.0
    
    
    
    2014
    
    
    
    2024Mikkel
    
    Statoil
    
    10.00
    
    
    1
    
    
    
    0
    
    
    
    2
    
    
    
    0.1
    
    
    
    2021
    
    
    
    2020-2022Other fields
(Vale and Heimdal)
    
    Norsk Hydro
    
    
    
    
    1
    
    
    
    0
    
    
    
    2
    
    
    
    0.1
    
    
    
    2005-2008
    
    
    
    2021Total Norway
    
    
    
    
    
    
    173
    
    
    
    123
    
    
    
    275
    
    
    
    7.8Terra Nova
    
    Petro-Canada
    
    15.00
    
    
    7
    
    
    
    7
    
    
    
    0
    
    
    
    0.0
    
    
    
    2016
    
    
    
    2093Girassol
    
    Total
    
    10.00
    
    
    7
    
    
    
    7
    
    
    
    0
    
    
    
    0.0
    
    
    
    2018
    
    
    
    2027Hibernia
    
    HMDC*
    
    5.00
    
    
    4
    
    
    
    4
    
    
    
    0
    
    
    
    0.0
    
    
    
    2015
    
    
    
    2085Kharyaga
    
    Total
    
    40.00
    
    
    2
    
    
    
    2
    
    
    
    0
    
    
    
    0.0
    
    
    
    2031
    
    
    
    2031Mabruk
    
    Total
    
    25.00
    
    
    1
    
    
    
    1
    
    
    
    0
    
    
    
    0.0
    
    
    
    2028
    
    
    
    2028Other fields
(Jasmim and Murzuq)
    
    Total/Repsol
    
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0.0
    
    
    
    2016-2022
    
    
    
    2027-2028Total International
    
    
    
    
    
    
    21
    
    
    
    21
    
    
    
    0
    
    
    
    0.0Total
    
    
    
    
    
    
    ***194
    
    
    
    144
    
    
    
    275
    
    
    
    7.8
  *
    
    HMDC: Hibernia Management Development Company**
    
    1st of February 2003 Hydro sold shares to OER Oil AS. In the Brage field
Hydros share was reduced from 24.44 percent to 20.00 percent in Brage
Unit and reduced from 23.20 percent to 20.00 percent in the Brage
Sognefjord. In the Njord field Hydros share was reduced from 22.50
percent to 20.00 percent.***
    
    Total daily production in 2003 is 530,000 boe/day 99.2-2




---



##### 



Operational data  Energy 2003
    
    
    2002
    
    
    2001Total power available (Terrawatt hours TWh)
    
    
    21.3
    
    
    
    19.4
    
    
    
    20.4From own power stations
    
    
    7.3
    
    
    
    10.1
    
    
    
    9.6Lease production
    
    
    0.2
    
    
    
    0.2
    
    
    
    0.2Average spot price NOK/kWh
    
    
    0.291
    
    
    
    0.201
    
    
    
    0.187Oil trading and refining (thousand tonnes):Crude oil/NGL
    
    
    18,560
    
    
    
    19,068
    
    
    
    17,507Oil products
    
    
    2,808
    
    
    
    2,326
    
    
    
    2,912Oil trading
    
    
    21,368
    
    
    
    21,394
    
    
    
    20,419Gasoline
    
    
    797
    
    
    
    660
    
    
    
    841Medium destillates
    
    
    766
    
    
    
    796
    
    
    
    897Heavy fuel oil
    
    
    502
    
    
    
    550
    
    
    
    440Other
    
    
    77
    
    
    
    36
    
    
    
    66Refining
    
    
    2,142
    
    
    
    2,042
    
    
    
    2,244
 Oil Marketing Marketing (Sales 1.000 m3)1)
    
    2003
    
    
    2002
    
    
    2001Gasoline
    
    
    1,435
    
    
    
    1,476
    
    
    
    1,500Gasoil
    
    
    2,109
    
    
    
    2,074
    
    
    
    2,084Market share 20021)
    
    Sweden
    
    Denmark
    
    NorwayGasoline
    
    
    9.9%
    
    
    
    16.8%
    
    
    
    20.2%Gasoil
    
    
    14.3%
    
    
    
    17.5%
    
    
    
    16.0%
 1)
    
    Includes 100 percent of Hydro Texaco Aluminium Tonnes
    
    2003
    
    
    2002
    
    
    2001Production of alumina
    
    
    1,502,000
    
    
    
    1,272,000
    
    
    
    1,002,000Production of primary aluminium:Karmøy
    
    
    271,000
    
    
    
    273,000
    
    
    
    272,000Årdal
    
    
    215,000
    
    
    
    206,000
    
    
    
    206,000Rheinwerk
    
    
    221,000
    
    
    
    173,000Sunndal
    
    
    210,000
    
    
    
    153,000
    
    
    
    156,000Kurri-Kurri
    
    
    156,000
    
    
    
    122,000Høyanger
    
    
    74,000
    
    
    
    73,000
    
    
    
    71,000Søral (Hydros ownership interest 49.9 percent)
    
    
    79,000
    
    
    
    67,000
    
    
    
    62,000Elbewerk
    
    
    69,000
    
    
    
    48,000Other
    
    
    178,000
    
    
    
    138,000
    
    
    
    18,000Total
    
    
    1,473,000
    
    
    
    1,253,000
    
    
    
    785,000Remelting
    
    
    1,597,000
    
    
    
    1,342,000
    
    
    
    425,000Semi-fabricating:Extruded products
    
    
    569,000
    
    
    
    556,000
    
    
    
    476,000Rolled products
    
    
    893,000
    
    
    
    693,000
    
    
    
    133,000Wire rod and other
    
    
    80,000
    
    
    
    75,000
    
    
    
    60,000Primary aluminium London Metal Exchange 3-month price USD/tonne (avg.)
    
    
    1,428
    
    
    
    1,365
    
    
    
    1,454
 99.2-3




---



##### 



Magnesium Tonnes
    
    2003
    
    
    2002
    
    
    2001Production. remelting and recycling of primary magnesium
    
    
    92,000
    
    
    
    87,000
    
    
    
    108,000
 Agri Thousand tonnes
    
    2003
    
    
    2002
    
    
    2001Consumption
of raw materialsRock phosphate
    
    
    1,300
    
    
    
    1,100
    
    
    
    1,200Potassium
    
    
    950
    
    
    
    860
    
    
    
    830Oil and gas (million toe)
    
    
    4.0
    
    
    
    3.5
    
    
    
    3.6Production of ammonia (NH3)Hydros own production
    
    
    4,100
    
    
    
    4,050
    
    
    
    3,950Hydros share of non-consolidated investees production
    
    
    850
    
    
    
    850
    
    
    
    840Production of fertilizerHydros own production
    
    
    11,700
    
    
    
    11,100
    
    
    
    11,400Hydros share of non-consolidated investees production
    
    
    600
    
    
    
    1,150
    
    
    
    1,250Sales including third-party products1)
    
    
    22,200
    
    
    
    22,200
    
    
    
    20,900Europe
    
    
    11,500
    
    
    
    11,100
    
    
    
    11,100Outside Europe
    
    
    10,700
    
    
    
    11,100
    
    
    
    9,800Fertilizer prices - average monthly quotations
    
    
    2003
    
    
    
    2002
    
    
    
    2001CAN - cif Germany USD/tonne
    
    
    146
    
    
    
    111
    
    
    
    119Urea - fob Middle East USD/tonne
    
    
    148
    
    
    
    109
    
    
    
    109NH3 - fob Caribbean USD/tonne
    
    
    203
    
    
    
    110
    
    
    
    137
 1)
    
    Sales volume includes fertilizer products and nitrogen products for technical use. Petrochemicals Production in tonnes
    
    2003
    
    
    2002
    
    
    2001Base products:VCM
    
    
    575,000
    
    
    
    540,000
    
    
    
    591,000Caustic Soda
    
    
    281,000
    
    
    
    262,000
    
    
    
    279,000PVC
    
    
    588,000
    
    
    
    528,000
    
    
    
    537,000S-PVC
    
    
    507,000
    
    
    
    458,000
    
    
    
    465,000P-PVC
    
    
    81,000
    
    
    
    70,000
    
    
    
    72,000PVC-Compounds
    
    
    129,000
    
    
    
    128,000
    
    
    
    143,000Average prices Western Europe:Ethylene - EUR/tonne delivered
    
    
    522
    
    
    
    518
    
    
    
    616VCM - Spot Export FOB USD/tonne
    
    
    452
    
    
    
    451
    
    
    
    345S-PVC - EUR/tonne delivered
    
    
    683
    
    
    
    714
    
    
    
    656
 Source: ICIS-LOR 99.2-4