Keynote Speaker Highlight:
Gunnar Nakken, SVP Global OTE and subsea operations, Equinor
UTC2022 Day 2 June 16th
Transforming from oil and gas to a competitive broad energy company
Lower emission oil and gas, accelerated growth in renewable energy and new low carbon solutions are three key pillars for Equinor to lead the energy transition, says Gunnar Nakken, SVP Global OTE and subsea operations.
Achieving the first is set to see a large increase in subsea tieback developments on the Norwegian Continental Shelf over coming years. Equinor is targeting 80% of its exploration around existing infrastructure and wants to match its NPV on the NCS in 2030 with 2022.
To do this we need a transformation in the way we do subsea developments, primarily due to the resource restrictions, i.e. people, and because the size of the prospects and discoveries is decreasing. Due to this and the high activity in oil and gas and increasingly in renewables and low carbon, we need new ways of working.
Part of that is about how we bundle and optimise and create strategic alliances. But also to utilise new technology. Technology, expertise and infrastructure, these are the three key enablers. Cooperation with suppliers and even stronger and strategic alliances are also key words here.
The competence in the subsea is also relevant when it comes to renewables. For floating wind, for example, there are a lot of marine operations and issues around installation of floating structures, where we have capability and competency.
“Equinor is by far the biggest subsea operator on the NCS, with more than 600 subsea wells and the majority of our future development is in this direction. So it is a given that subsea and forums like UTC are very important for us. UTC provides a very relevant arena where we can mingle and strengthen our relationships and also to connect with and further build the relationship with suppliers who we are so reliant on to deliver and improve and make this transformation.” – Gunnar Nakken