EQNR - Equinor Infuses $6B Annually To Maintain Norway's Oil Game: Report | Benzinga
The Norwegian energy giant Equinor ASA (NYSE:EQNR) reportedly invests around $6 billion a year in oil and gas exploration and drilling in the country to maintain continued output levels through 2035.
CEO Anders Opedal told Reuters, “We couldn’t invest more per year without losing efficiency and degrading the efficiency of our investments.”
Equinor has currently become Europe’s main gas supplier, replacing Russia after the European Union sanctioned Russian gas imports amid Moscow’s invasion of Ukraine, reported Reuters.
Read: Equinor Expands Helicopter Diversity For Norwegian Continental Shelf Operations: Details
As per the CEO, Equinor’s net share of production is around 40 billion cubic metres (bcm) per year on average, ...