Our business areas at a glance

A strong competitive position

Today, in an increasingly unpredictable world, our deliveries of oil, gas, and renewable energy provide a vital and stabilising contribution to Europe’s energy security.

Our fifty years of experience from building the oil and gas industry in Norway represent a worldwide competitive advantage for us today, and we have a strong and proven ability to develop and apply new technologies and digital solutions. As we pursue our ambition to be a leading company in the energy transition, technology leadership will be a key enabler.

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Exploration & Production Norway (EPN)

Exploration & Production Norway (EPN) is the backbone of our portfolio, accounting for around two-thirds of our revenue and playing a vital role in Europe’s energy security with consistent, stable and high-value production.

We envisage that the NCS will see a high level of activity towards 2035, and we have an extensive and competitive sanctioned and non-sanctioned project portfolio. There is significant remaining exploration potential close to infrastructure, and further potential to increase recovery from existing fields. At the same time, we aim to reduce our CO₂ emissions by 50% in 2030, 70% in 2040 and near zero in 2050.

Exploration & Production International (EPI)

With seven operated assets and 26 partner-operated assets, our business area Exploration & Production International (EPI) accounted for some 33% of our group equity production of oil and gas in 2024. Equinor is the fifth largest producer of oil and gas in the US offshore, and our US onshore operations are the largest outside Norway.

EPI now has operations in eight countries, the largest being in the US, Angola, and Brazil. EPI consists of two reporting segments: E&P USA and E&P International. Our investments abroad support local economies through job creation, technology transfer, and infrastructure development while strengthening our global presence and long-term resilience.

Marketing, Midstream & Processing (MMP)

Marketing, Midstream & Processing (MMP) connects producers and consumers and is responsible for marketing, trading, refining and processing crude oil, condensates, natural gas and liquids.

It is divided into business clusters including Gas & Power, Crude, Products & Liquids, and Onshore Plants, maximising value across our energy value chains through flow assurance, premium market access and asset backed trading (ABT). MMP also leads Equinor’s efforts in the low-carbon solutions market, developing and implementing innovative technologies for carbon capture and storage (CCS), low carbon hydrogen and clean power.

Renewables (REN)

Our Renewables (REN) business area includes offshore wind, onshore renewables and energy storage in four main regions: the Americas, Asia-Pacific, Europe, and Norway.

We are also a pioneer in floating offshore wind, operating around half of the world’s floating capacity, and are developing some of the world’s largest offshore wind farms off the coasts of Poland, the UK, and the US. We have built a substantial portfolio in onshore renewables with solar plants and onshore wind in Brazil, Denmark and Poland, as well as energy storage in the UK and US.

We remain committed to value-driven growth in renewables and believe in the long-term profitability potential for renewables as electricity demand grows.

Projects, Drilling & Procurement (PDP)

Our Projects, Drilling & Procurement (PDP) business area manages our global project portfolio, drilling & well deliveries, procurements and supply chains across the company. Together with our suppliers, we strive to create sustainable value through a simplified and standardised approach. PDP is part of our Other Group reporting segment.

PDP highlights in 2024 include the opening of our Northern Lights CCS transport and storage facility in Øygarden, startup of production at Kristin Sør, partial electrification of Troll B, Troll C, Sleipner and Gudrun, and development of the Skrugard, Havis and Drivis oil discoveries at Johan Castberg. The Bacalhau oil and gas field offshore Sao Paulo is being developed with first oil scheduled in 2025, while we expect startup at the Raia natural gas project in the Campos Basin in 2028.

Technology, Digital & Innovation (TDI)

To accelerate technology development and new opportunities, we have gathered digital solutions, Ventures, innovation and technology improvements across Equinor into the business area Technology, Digital & Innovation (TDI). TDI has two strategic portfolio areas:

Technology & Improvements (T&I) supports our oil, gas, renewables and low carbon business guided by our technology strategy for transforming Equinor through technology. T&I is divided into the clusters Enterprise Digital, Oil and Gas, Renewables and Low Carbon, Technology Strategy and Portfolio and Partnerships.

New Business Investments develops new industrial scale sustainable & profitable business opportunities supporting the energy transition. Opportunities are matured and incubated based on market conditions, growth potential, technological maturity, and competence that we can bring to the table.