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Equinor ASA spent $8.6 billion (NOK 93 billion) in 2022 on exploration and the operation and modification of its fields, a 13 percent increase from the previous year.
In a press release Equinor highlighted that 90 percent of the 2022 figure went to Norwegian suppliers.
The figures were arrived at by Bodo Science Park (KPB) through analyses of supplier lists and actual purchases of goods and services for Equinor-operated fields and onshore plants operated by Equinor, from Hammerfest LNG in the north to the Sleipner field in the south.
This is the first time exploration activities are included, and the second time KPB has delivered this report, Equinor said.
“Our activities create substantial national and local ripple effects. Equinor’s exploration, operations and maintenance activities generated 63,000 person-years of employment last year across the country. More than 1700 Norwegian enterprises invoiced a total of 87 billion NOK in these segments. Norwegian suppliers accounting for more than 90 percent demonstrates the capacity, competence and competitiveness of the Norwegian oil and gas hub”, said Equinor’s executive vice-president for exploration and production in Norway, Kjetil Hove.
“This report demonstrates what the oil and gas industry means for Norwegian employment. Substantial value is created, and many people are involved in the work. The industry employs people, develops expertise and maintains activity across the country, and we want this to continue. We must keep exploring and producing oil and gas on the Norwegian continental shelf (NCS). At the same time, we will cut emissions and develop new value chains on the shoulders of the oil and gas industry,” said Per Steinar Stamnes of Industri Energi on behalf of the five trade unions in Equinor.
Equinor bought goods and services from the Norwegian supplier industry for the operation of NCS fields for $6.5 billion (NOK 70.6 billion) in 2022. Exploration activities generated Norwegian supplies worth $566 million (NOK 6.1 billion), according to the report.
Supplies from the Norwegian industry to onshore plants operated by Equinor amounted to $946.9 million (NOK 10.2 billion). International supplies to NCS fields and onshore plants totaled $603.4 million (NOK 6.5 billion), as highlighted by the report.
Equinor highlighted that the petroleum sector’s supply industry is Norway’s second largest industry in terms of turnover, after oil and gas operators, and is therefore of importance to the Norwegian economy.
According to Statistics Norway, the national turnover of the industry supplying the petroleum sector was $27.3 billion (NOK 293.8 billion) for 2022, an increase of 11 percent from the previous year. Equinor said it has reason to believe that much of this increase is due to a rise in prices, but also higher activity. Suppliers with direct deliveries to Equinor-operated fields, onshore plants and exploration activities account for around 30 percent of this turnover, according to the company.
The company said that a total of 63,000 person-years of employment are associated with this activity, either by Equinor employment (9,800), jobs in Norwegian supplier companies (20,900) or as a result of sub-supplies and consumer effects (32,300).
To contact the author, email andreson.n.paul@gmail.com
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