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Equinor's Technology Strategy

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Equinor's Technology Strategy Equinor’s technology strategy in brief Technology to shape the future of energy Technology to shape the future of energy We are an energy company committed to long term value creation in a low carbon future. Equinor’s strong technology base and ability to apply new technologies, constitute a competitive advantage for us. Our sharpened strategy highlights innovation & technology as one of four key enablers to deliver 2 | Equinor's technology strategy Open Adressing new realities, new opportunities Energy Liquids resource Markets Winners Low carbon system replacement remain transform their creates transitioning challenge cyclical cost base opportunities Prepare to be surprised 3 | Equinor's technology strategy Open Forming a Norwegian continental shelf Build on our unique position future-fit to maximise and develop portfolio long-term value The technology strategy New energy solutions sets the long term Create a material new direction for technology industrial position Always safe development in Equinor. High value The future-fit portfolio will Low carbon International oil & gas demand new solutions for Deepen core areas and oil and gas, reductions of develop growth options carbon emissions, and renewable energy. Midstream and marketing Secure premium market access and grow value creation through cycles 4 | Equinor's technology strategy Open Technology to shape the future of energy Equinor’s technology strategy INNOVATION – CROSS-DISCIPLINE SOLUTIONS – DIGITALISATION Optimise production Low carbon Discover and Unlock low Develop from existing and near solutions for develop frontier and recovery renewable energy field resources Oil & gas deep water areas reservoirs opportunities 5 | Equinor's technology strategy Open Some examples Optimise production from existing and near Subsurface data integration field resources Capture value of digitalisation, infrastructure and people Automated drilling control Maximise value from NCS and international operations: • Unlock existing and near field Remotely hydrocarbon potential operated factories • Prolong infrastructure lifetime • Safe and efficient operations Autonomous inspection 6 | Equinor's technology strategy Open Some examples Low carbon Energy efficient solutions for Subsea oil & gas processing Reduce emissions and decarbonise processes and products Maximise power generation efficiency Value chain perspective reducing emissions from reservoir to market: • Energy efficient field development Optimise and operation electrification • Low carbon power and heat supply • Value chains with carbon capture, Hydrogen utilisation and storage from natural gas with CCUS 7 | Equinor's technology strategy Open Some examples Discover and develop Exploration frontier and deep regional water areas evaluation Expand sub-surface competence and competitive new field Seismic development solutions interpretation and analysis Enable production from frontier and deep-water areas: • Improved exploration evaluation Deep-water methods risers • Improved reservoir predictability • Facilities technology enabling deep-water field developments Environmental • Environmental technology and impact competence to provide license to assessment operate 8 | Equinor's technology strategy Open Some examples Unlock low Fracking with recovery reduced water reservoirs consumption Utilise multi-discipline competence for new recovery solutions Gather dynamic data Maximise value of low recovery reservoirs: Improved fracking and lift solutions • Maximise • Improved reservoir reservoir characterisation and early exposure production solutions for tight reservoirs • Increase recovery and process solutions for heavy oil fields Polymer flooding Maximise value in an environmentally sustainable way 9 | Equinor's technology strategy Open Some examples Develop renewable energy Resource assessment opportunities Accelerate competence Installation development to define the future methods for floating offshore wind Build a material renewable energy portfolio: • Optimise cost and efficiency for Emerging wind parks solar photo voltaics • Build competence and respond rapidly to unlock new opportunities (e.g. solar, geothermal) High- temperature • Managing intermittent power geothermal through energy storage wells 10 | Equinor's technology strategy Open Leverage value from technology opportunities • Digitalisation and automation will dominate technology development in the foreseeable future. • Innovation and cross-discipline solutions will be essential to strengthen our competitiveness within oil and gas, and to lower carbon emissions. • The rapid pace of technology development will reshape the energy landscape. The level of impact remains uncertain, but we know the direction of change. 11 | Equinor's technology strategy Open Innovation Cross-discipline solutions Digitalisation • Essential to provide new solutions with • Superior to solutions developed by • Drives integration of data, hardware, high impact individual disciplines, avoiding sub- disciplines, value chains, industries, optimisation business models and people • Enabler for our strategy • Share knowledge and deliver as a • Includes big data, cognitive learning • Build on our proud heritage of close interaction between suppliers and team and analytics, augmented reality, smart machines and systems, robotic academia • Strengthen our collaboration with suppliers software and automation • Utilise all types of innovation from incremental to disruptive • Learn from other industries and suppliers ahead of us 12 | Equinor's technology strategy Open Technology to shape the future of energy Equinor’s technology strategy © Equinor ASA This presentation, including the contents and arrangement of the contents of each individual page or the collection of the pages, is owned by Equinor. Copyright to all material including, but not limited to, written material, photographs, drawings, images, tables and data remains the property of Equinor. All rights reserved. Any other use, reproduction, translation, adaption, arrangement, alteration, distribution or storage of this presentation, in whole or in part, without the prior written permission of Equinor is prohibited. The information contained in this presentation may not be accurate, up to date or applicable to the circumstances of any particular case, despite our efforts. Equinor cannot accept any liability for any inaccuracies or omissions..
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