How can a new oil field contribute to the energy transition? Because tomorrow’s energy is born of the energy of today.
Energy is at the heart of everything. It is needed for people and societies to thrive and progress. And it is at the core of solving the climate challenge.
Today, oil and gas supply about 55% of the world’s energy, keeping our lights on, making travel possible, heating and cooling our homes, providing food, and underpinning modern society in countless ways. But as we all know, hydrocarbon fuels lead to global warming and emissions must be cut.
Today, Equinor is recognised as being among the most carbon-efficient producers of oil in the world. We have implemented measures to reduce CO₂ emissions in our oil and gas production to industry-leading levels, and we will continue to reduce emissions year on year.
Ultimately, we intend to reach zero — including the use of our products. We have set ourselves the clear ambition to become a net-zero company by 2050, with a Net Carbon Intensity (NCI) of 0 including emissions from production and consumption (Scope 3).
Oil and gas are needed to power the energy transition, providing essential energy to develop renewable sources, and ensuring a stable, secure energy supply to all of society as we move towards net zero. That’s why we are building the industry of tomorrow on the shoulders of the industry of today.
