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    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
  Report
Real-time Quote. Real-time Oslo Bors - 01/24 10:27:46 am
247 NOK   -0.06%
01/24EQUINOR ASA : Notifiable trading
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01/24EQUINOR ASA : Share buy-back
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01/24Eni plans to list Vaar unit to fund green drive
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Equinor Invests $1.1 Billion to Boost Gas Production From North Sea Field

11/26/2021 | 07:09am EST

By Dominic Chopping

Equinor ASA said Friday that with its partners, it is investing 10 billion Norwegian kroner ($1.1 billion) to further develop the Oseberg field in the North Sea from being primarily an oil field to becoming a gas producer.

An amended plan for development and operation has been submitted to the minister of petroleum and energy that will see the partners reduce carbon-dioxide emissions from the Oseberg Field Centre and the Oseberg South platform while increasing Oseberg gas production, it said.

"This investment decision allows us to increase production of Oseberg gas considerably in the future, while reducing CO2 emissions by an estimated 320,000 [metric] ton per year," said Geir Tungesvik, Equinor's senior vice president for project development.

Oil production at the field is in the tail phase, but 60% of the gas resources are still in the ground and Equinor expects Oseberg to produce more than 100 billion standard cubic meters of gas toward 2040.

Equinor has a 49.3% stake in the field as operator, Petoro AS has a 33.6% stake, TotalEnergies EP Norge AS 14.7% and ConocoPhillips Skandinavia AS has 2.4%.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

11-26-21 0709ET

Stocks mentioned in the article
ChangeLast1st jan.
CONOCOPHILLIPS 0.36% 83.02 Delayed Quote.15.02%
EQUINOR ASA -0.06% 247 Real-time Quote.4.71%
TOTALENERGIES SE -3.44% 47.915 Real-time Quote.7.36%
WTI -0.58% 83.668 Delayed Quote.11.56%
All news about EQUINOR ASA
01/24EQUINOR ASA : Notifiable trading
AQ
01/24EQUINOR ASA : Share buy-back
AQ
01/24Eni plans to list Vaar unit to fund green drive
RE
01/24Eni to list Norway unit Vaar Energi in Oslo IPO
RE
01/21EQUINOR : submits flagship Humber hydrogen project for government phasing competition
PU
01/20Norway's December petroleum output rises
RE
01/19European ADRs Move Higher in Wednesday Trading
MT
01/19Sse thermal and equinor have awarded key contracts for aldbrough hydrogen project
AQ
01/19PGS Bags Seismic Acquisition Contract for Equinor's Carbon Storage Project in Norway
MT
01/19Equinor's share savings plan allocates shares
AQ
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Analyst Recommendations on EQUINOR ASA
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Financials (USD)
Sales 2021 88 408 M - -
Net income 2021 8 584 M - -
Net Debt 2021 3 668 M - -
P/E ratio 2021 10,5x
Yield 2021 2,45%
Capitalization 88 990 M 88 254 M -
EV / Sales 2021 1,05x
EV / Sales 2022 0,90x
Nbr of Employees 21 245
Free-Float -
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Technical analysis trends EQUINOR ASA
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Last Close Price 27,60 $
Average target price 27,23 $
Spread / Average Target -1,34%
EPS Revisions
Managers and Directors
Anders Opedal President & Chief Executive Officer
Ulrica Fearn Chief Financial Officer & Executive Vice President
Jon Erik Reinhardsen Chairman
Carri Ann Lockhart Executive VP-Technology, Digital & Innovation
Jannicke Nilsson Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
EQUINOR ASA4.71%88 254
SAUDI ARABIAN OIL COMPANY1.40%1 944 956
ROYAL DUTCH SHELL PLC11.94%186 917
TOTALENERGIES SE11.18%146 706
PETROCHINA COMPANY LIMITED12.97%142 630
PUBLIC JOINT STOCK COMPANY GAZPROM-14.72%95 988