Equinor 2025 Investor Day Summary Industry and Company Overview - **Company**: Equinor (NYSE: EQNR) - **Event**: 2025 Global Supplier Day - **Date**: October 16, 2025 - **Location**: Offshore Technology Days, Stavanger Core Points and Arguments Safety and Collaboration - Equinor emphasizes the importance of safety, introducing an updated "I'm Safety Roadmap" aimed at achieving zero harm and preventing major accidents [6][10][19] - The roadmap consists of four interconnected pillars: proactive leadership and culture, safety in design, learning from incidents, and collaboration with suppliers [7][9][10] - Recent incidents, including a fatality at Mongstad, serve as reminders of the ongoing need for vigilance in safety practices [15][19] Strategic Direction - Equinor's strategy focuses on transitioning from an oil and gas company to a broader energy company, maintaining a commitment to reduce emissions by 50% by 2030 compared to 2015 levels [21][22] - The company plans to maintain production from the Norwegian continental shelf (NCS) at 1.2 million barrels per day until 2035, with annual investments of $6 billion to $7 billion over the next decade [23][24] Project Portfolio and Opportunities - Equinor aims to drill 250 exploration wells, 600 increased recovery production wells, and conduct 3,000 interventions over the next ten years, with 80% of drilling work performed by suppliers [24][25] - The company has initiated several major projects, including Bacalhau, which is expected to contribute to cash flow for decades [22][34] - There are plans for 75 subsea tieback projects over the next ten years, requiring collaboration and innovative approaches to capture opportunities [27][42] Renewables and Energy Transition - Equinor is constructing three major offshore wind projects, which will provide green power to approximately 8 million homes [51] - The company acknowledges that safety performance in renewables needs improvement, as it currently lags behind the oil and gas sector [52][60] - The levelized cost of energy is higher than base electricity prices, necessitating government support for project viability [58] Cost Management and Efficiency - Since 2019, subsea and marine installation costs have increased by 90%, driven by material costs, inflation, and productivity challenges [69][70] - Equinor is focused on reducing costs through simplification, standardization, and collaboration with suppliers to enhance competitiveness [72][74] Supplier Engagement - Equinor encourages suppliers to engage in early project phases, utilizing innovative delivery models and digital tools to optimize project outcomes [90][92] - The company is open to reusing documentation and simplifying processes to reduce complexity and costs [105][107] Other Important Insights - The NCS is becoming more mature, with discoveries becoming smaller and more complex, which poses challenges for future production [66][68] - Equinor's approach to energy storage is technology agnostic, focusing on what makes sense for specific markets [89] - The company emphasizes the need for stable regulatory frameworks and attractive terms to ensure profitable project development [74] This summary encapsulates the key discussions and strategic directions outlined during Equinor's 2025 Investor Day, highlighting the company's commitment to safety, sustainability, and collaboration with suppliers in navigating the energy transition.