How to find us in Oslo
Our Oslo office is located at the IT Fornebu business park, just south of the city.
We are now celebrating 50 years of oil and gas activities in Norway. We have much to be proud of — but we are well aware of the challenges ahead.
Equinor is on track to maintain profitable production from the NCS at current level towards 2030. After 2030 the NCS will enter a more mature phase. It is therefore necessary to introduce new measures to tackle the future challenges of declining production from the big fields, ageing installations and the need for reduced CO2 emissions.
In recent years we have set ourselves tough targets on the NCS, which have paid off. We have improved operational efficiency, increased production, reduced CO2 emissions and matured a highly profitable project portfolio. This is the result of good dialogue with authorities and good collaboration with our suppliers and employees. The NCS still holds a lot of potential, but securing value creation and thousands of jobs for the decades to come is no easy task. The changes needed will be bigger than ever before and are necessary as we continue to develop as a broad energy company.
We currently operate 42 fields on the Norwegian continental shelf and produce around 2.5 million barrels a day, including the volumes from our partners. For more than 40 years, we have accumulated broad expertise, which we will use to further develop the Norwegian continental shelf. We know the geology, the fields and what is required to succeed. This expertise enables us to manage values responsibly, so that we can secure jobs and value creation for years to come.
When we first found oil in the North Sea, few people realised the values and growth it would bring to Norway. Today, another new chapter in the Norwegian oil adventure is about to be written.
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.
The petroleum industry is Norway's largest industry when measured in value creation, state income, investments and export value. Total income from the sector is estimated to NOK 224 billion in 2018, representing 17 per cent of the state's combined income.
Our products are marketed and sold on the global market, and our production has made Norway one of the world's leading oil and gas exporters. Our onshore facilities in Norway include activities in crude oil reception, gas processing, refining and methanol production. We also have operational responsibility for the world's most extensive subsea pipeline system for the transportation of gas.
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.