BAKU, Azerbaijan, Feb.6
By Leman Zeynalova – Trend:
Equinor company, headquartered in Norway, expects to deliver around 7 percent growth in production in 2020, and an average annual production growth of around 3 percent from 2019 to 2026, Trend reports with reference to the company.
The company expects average annual organic capex of $10-11 billion in 2020 and 2021, and around $12 billion for 2022 and 2023, reads a report released by Equinor.
The forecast exploration activity of the company is around $1.4 billion in 2020, according to the report.
“In 2026, Equinor expects a production capacity from renewable projects of 4 to 6 GW, Equinor share, mainly based on the current project portfolio. This is around 10 times higher than today’s capacity, implying an annual average growth rate of more than 30 percent.”
Towards 2035, Equinor expects to increase installed renewables capacity further to 12 to 16 GW, dependent on availability of attractive project opportunities.
Equinor expects to achieve unlevered real project returns of 6 to 10 percent and can achieve significantly higher return on equity investments through portfolio optimisation and efficient use of project financing.
Equinor is an international energy company present in more than 30 countries worldwide, including several of the world’s most important oil and gas provinces.
It is the leading operator on the Norwegian continental shelf and have substantial international activities. The company is engaged in exploration, development and production of oil and gas, as well as wind and solar power. Equinor sells crude oil and is a major supplier of natural gas, with activities in processing, refining, and trading.
Its activities are managed through eight business areas, staffs and support divisions, and the company has operations in North and South America, Africa, Asia, Europe and Oceania, and Norway.
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