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How & why

Fundamental changes are happening in our industry—and faster than ever before. Geopolitical shifts, industry fundamentals, market dynamics and the need for a low carbon future are posing new challenges. Here we explain the reasoning behind our strategic direction.

In Equinor, we see these changes as opportunities to shape and improve the energy industry of tomorrow. We aim to set an example for how the oil and gas industry must develop, show leadership and point the way to bolder and better solutions.

We are an energy company committed to long term value creation in a low carbon future.

We will maximise and develop the value of our unique NCS position and our international oil and gas business, focusing on safety, cost and carbon efficiency.

We expect 15-20% of our investments to be directed towards new energy solutions by 2030.

We are a values based company where empowered people collaborate to shape the future of energy.

CEO ELdar Sætre 2017
Photo: Ole Jørgen Bratland

Eldar Sætre
President and Chief Executive Officer

We strive to be recognised as an industry leader in safety, and we believe that accidents and incidents related to people, environment and assets can be prevented. Our vision is zero harm.

We focus on preventing personal injuries and major accidents, and the goal of zero injuries has become part of how we think and work, with a strong focus on continuous improvement. The safety standards we have today build on experiences and incidents from the major operations and projects we have carried out over the last 40 years.

We believe a low carbon footprint will make us more competitive in the future. We also believe there are attractive business opportunities in the transition to a low carbon economy.

Equinor intends to be a part of this transformation in order to fulfil our purpose of turning natural resources into energy for people and progress for society.

Our strategy focuses on high value and low carbon. Embedded in the strategy is a set of principles to guide our decision-making. One of these principles is that we should leverage our low carbon advantage.

Our Climate Roadmap explains how we plan to achieve this and how we will develop our business, in support of the ambitions of the Paris Climate Agreement.

Technology and innovation are enablers for our strategy. We are an energy company committed to long term value creation in a low carbon future.

We need to come up with technology and solutions to lower our carbon emissions.  Digitalisation will dominate technology development in the foreseeable future through integration of data, hardware, disciplines, value chains, industries and people. Innovation and technology will be essential to strengthen our competitiveness within O&G and renewables. 

Equinor technology ventures (ETV)

Technology and innovation are critical for us to reach our ambitious production and efficiency goals by 2020. Equinor technology ventures (ETV) is looking for young companies with exciting technology that will improve the effectiveness of Equinor’s oil and gas or renewables operations.

Through equity investments and active participation on the boards of these small companies we help management accelerate their companies’ development, spurring them on to become profitable and independent suppliers to Equinor and the rest of the energy industry.

*All figures from Annual report unless otherwise stated