Organizational Reorganization for Speed

Equinor is implementing organizational changes to simplify work processes, aiming to significantly accelerate the timeline for new field developments. The company has reviewed and streamlined 70 work processes, from partner collaboration to internal approvals and field development, to create an end-to-end efficient system.

Ambitious Efficiency and Timeline Goals

The primary objective is to reduce the discovery-to-production period from five to seven years down to two to three years. Concurrently, Equinor seeks a 200% to 300% efficiency gain in exploration volumes on the Norwegian continental shelf.

New Decision-Making and Project Strategy

To enable faster execution, the company will shift from individual project decisions to a grouped approval process. The CEO will make a consolidated decision on several projects twice a year. This strategy responds to the changing nature of the continental shelf, which now features many smaller discoveries and numerous existing offshore facilities. With 75 subsea tie-in projects planned over the next decade, the focus is on faster execution, more rapid exploration drilling, and increased value creation.

Project Portfolio: Wisting and Subsea Tie-ins

Equinor's only planned standalone project in Norway is the large Wisting oilfield in the Barents Sea. Concept selection is targeted for 2026, with a final investment decision hoped for in 2027, though the company emphasizes it is not schedule-driven and will ensure the project is financially sound given its challenging nature. The remainder of the portfolio consists of subsea tie-ins, including large gas discoveries like Linnorm and Peon located near existing infrastructure.

Production Ambition

Equinor's production in Norway averaged 1.4 million barrels of oil equivalent per day in 2025. The company's ambition is to maintain a similar production level until 2035.