Equinor

Background

Equinor ASA operates oil and gas fields, pipelines, petroleum refineries, and fuel stations with assets in more than 30 countries. Operations are organized into six business units: E&P Norway (EPN); E&P International (EPI); Renewables (REN); Technology, Digital, & Innovation (TDI); Projects, Drilling, & Procurement (PDP); and Marketing, Midstream, & Processing (MMP). The Norwegian state maintains a controlling take in the company with shares listed on the Oslo (EQNR) and NYSE (EQNR) exchanges.

Equinor's earliest participation in the oil & gas industry dates back to 1965 the Norwegian company Norsk Hydro formed a joint venture with Elf Aquitaine called Petronord to explore the North Sea. The Norwegian government increased their stake in Hydro to 51% in 1971. In 1972, Saga Petroleum was formed as a private Norwegian company, and Den Norske Stats Oljeselskap was formed as the national oil company of Norway which became known as Statoil. Statoil, Hydro, and Saga were all given preferential treatment by the Norwegian government in the award of operating licenses for offshore oil & gas assets.

Saga acquired the British company Sante Fe Exploration in 1996, and then Hydro acquired Saga in 1999. Den Norske Stats Oljeselskap formally changed its name to Statoil in 2001 when it began trading on the Oslo and NYSE exchanges. Statoil acquired the oil & gas operations of Norsk Hydro in 2007 to form StatoilHydro which again became Statoil in 2009. Statoil acquired Brigham Exploration in 2011. In 2018, Statoil changed its name to Equinor. Anders Opedal was promoted to CEO in August 2020, and a new organizational structure was announced in November 2020.

Company Details

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Operated Facilities

Well Construction

5

Oil & Gas Production

11
1
3

Energy Transfer

1

Equity Holdings

Well Servicing

Business Support

Well Construction

Energy Trading

Oil & Gas Extraction

10%