Company Report
Equinor oil and gas exploration summary
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Report summary
In 2021, Equinor stated its plan to accelerate its transition towards new energy and low-carbon solutions. Upstream oil and gas will play a smaller, yet crucial role within the company, generating cashflow. Exploration will focus on near-field targets in the North Sea, and large frontier prospects in the Americas. Production volumes will decrease with time, as the company aims to reach net zero scope 1 and 2 carbon emissions by 2050.
Table of contents
- Exploration strategy
- Results summary
- Current portfolio and exploration outlook
- Production and potential cost of production
-
Value creation
- Domestic exploration remains a backbone of value creation
- A pivot to successful deepwater exploration
- Key project offshore East Canada
- Other international positions create minimal value during the past decade
Tables and charts
This report includes 17 images and tables including:
- Equinor's current acreage - top 15 countries (in km2)
- Net exploration and appraisal wells by country
- Exploration & appraisal spend and reinvestment
- Exploration success rates
- Largest 10 conventional discoveries (net, 2013 to 2022)
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Production from new field discoveries as a proportion of all future production
- Finding and development costs for added resources
- Full-cycle economics
- Top 10 conventional discoveries by development value (2013-2022)
- Conventional value and spend by country
- IRR by water depth
- Conventional value creation
- Exploration returns by year - Conventionals
What's included
This report contains:
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