How to find us in Oslo
Our Oslo office is located at the IT Fornebu business park, just south of the city.
Although the oil industry is in a challenging period, we have never had a larger portfolio of projects than we do today. We have major ambitions for the Norwegian continental shelf and there will be a high level of activity for many decades to come. The old giants on the continental shelf have been joined by new installations, such as Gudrun, Gina Krog, Valemon and Åsgard subsea compression. And now Johan Sverdrup has entered production.
We believe it's possible to maintain profitable and sustainable production at current levels on the Norwegian continental shelf until 2030 and beyond. By increasing extraction and prolonging the lifetime of fields in operation, we'll be well positioned for another 40 years on the Norwegian continental shelf.
We have more than 40 projects in the implementation phase
We intend to maintain production at current levels until 2030
Man-made climate change is one of the greatest challenges of our age. As a producer of oil and gas, Equinor needs to be part of the solution. Oil and gas will be remain as key components of the energy supply in the future, which imposes a great responsibility on us as producers. Our clear ambition is to be a world leader in terms of carbon efficiency.
Our analyses indicate that the world will need significant amounts of oil and gas even in the two-degree scenario, the global climate target. Oil and gas in volumes equivalent to the volumes produced today will also be necessary in 2040. Production from current fields is falling every year. This means that the world must find and put into production as many as 50–60 million new barrels in 2040. This is the equivalent of five times the current production of Saudi Arabia, or 100 new Johan Sverdrup fields. This is a formidable task in itself, and considering the climate issue, how these volumes are produced is very important.
Norway has a long tradition of working systematically to reduce emissions, and our current CO2 emissions are approximately half the industry average. We are also working hard to maintain our leading position. In 2008, we set ambitious goals for reducing emissions by 2020—goals that we have already reached. We have therefore increased our goal by 50 per cent to 1.2 million tonnes by 2020—equivalent to the emissions from 750,000 cars.
We will continue to work on reducing emissions to ensure that Norwegian oil and gas remain important contributors to the world reaching its climate and energy targets. We intend to be part of the solution for the production of energy for the world in a climate-friendly way.
Equinor operates the facilities for bringing gas onshore and processing it, which provides a significant number of jobs:
In addition, we have seven supply bases along the coast that provide important knock-on effects in their local communities.
We market and sell our own gas in addition to the government's SDFI volumes, in total around 70 per cent of all gas from the Norwegian continental shelf. This makes us the second-largest exporter of gas to Europe, where we have a market share of around 15 per cent.
Johan Sverdrup was found in some of the first licences awarded on the Norwegian continental shelf. With its 1.7–3.0 billion barrels of oil, the field is one of the largest and most important oil finds globally in the past decade. At plateau, the field will be responsible for around 40 per cent of oil production on the Norwegian continental shelf, and it is considered a giant field.