BAKU, Azerbaijan, June 15
By Leman Zeynalova – Trend:
Internationally, Norway’s Equinor is focusing its portfolio, exiting operated positions in unconventionals, prioritizing offshore operations where the company can utilize its core competence, Trend reports with reference to the company.
The international portfolio is set to deliver strong cash flow, become more robust towards lower prices, and shows a significant upside at higher prices, the company believes.
Equinor’s oil and gas portfolio can deliver a free cashflow after tax and investments of USD 45 billion from 2021 to 2026. New projects coming on stream by 2030 have an average break even below 35 USD/bbl and a short payback time of less than 2.5 years.
On the Norwegian continental shelf, Equinor is optimising its operations to deliver strong value creation and an average annual free cash flow of around USD 4.5 billion in 2021 – 2030.
Further improvements at the world class Johan Sverdrup field reduces the break-even price for the full field with 25% to 15 USD/bbl.
Equinor is optimising its oil and gas portfolio to deliver even stronger cash flow and returns with reduced emissions from production, and the company expects significant profitable growth within renewables and low carbon solutions.
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