Equinor launches USD 3 Billion Action Plan to Strengthen Financial Resilience in 2020
Equinor presents updated outlook for 2020 and an around USD 3 billion action plan to strengthen the financial resilience in a market impacted by the COVID-19 and low commodity prices. Equinor can be organic cash flow neutral (1) before capital distribution in 2020 with an average oil price around USD …
Equinor: Suspending Buy-Back Under the Share Buy-Back Programme Until Further Notice
Equinor is under the current market conditions suspending buy-back under the share buy-back programme until further notice. Additionally, Equinor has started to implement measures to reduce operating costs, capex and exploration spend. An updated outlook is expected to be presented to the market by the end of March 2020. “As …
Equinor and Shell Collaborate on Digital Solutions
The companies have signed a Memorandum of Understanding on digital collaboration to develop solutions and methods together through the exchange of expertise within areas like data science, artificial intelligence and 3D printing. The collaboration is expected to entail co-innovation across the whole value chain, such as maintenance, production optimisation and …
New Multi-Billion Agreements for Safety and Automation Systems
A new compensation format will help improve efficiency as Equinor awards new framework agreements for safety and automation systems with five suppliers. The framework agreements cover operation of all the company’s installations on the Norwegian continental shelf (NCS) and onshore plants in Norway. They may also be used by the …
Equinor Awarding Pioneering Wireless Subsea Drone Contract
Equinor, on behalf of the Njord licence, has awarded Saipem a subsea service contract using a wireless underwater intervention drone and an ROV. This contract will make Equinor the first user of technology expected to be completed in 2020. “This is a historic contract in the oil and gas industry. …