Equinor is actively developing energy in the Bakken and Marcellus Shales. If your company is working as a supplier or is in the process of getting set up as a supplier, then factoring your Eqinor invoices can supply immediate cash to your company.
Since 1994, Scale Funding has delivered same day cash to suppliers through invoice factoring. Invoice factoring is a funding option suppliers use to eliminate waiting for customer payments. Factoring supplies the cash companies can use towards payroll, equipment expenses, and business growth.
To learn more about factoring your Equinor invoices, as well as other customer invoices, get started by completing the web form, or call 800-707-4845.
On May 15th, 2018, the company known as Statoil changed their name to Equinor. According to company information, the name change came about to better reflect the future of the company in many energy sectors including gas, wind, and solar.
Equinor is a technology-driven international energy company headquartered in Stavanger, Norway. The Government of Norway established Statoil in 1972 in response to growing interest in potential petroleum resources off of its coast. The government wanted to control the petroleum activities in the region, not only to ensure that they benefited from the resources but also to avoid depleting them. Statoil quickly became a global energy player when the company discovered the Statfjord Field in the North Sea two years later.
In 1981, Statoil was the first Norwegian company to secure operation rights on the Norwegian continental shelf at Gullfaks in the North Sea. Statoil became a publicly-traded company in 2001. It was listed on the Oslo Stock Exchange and the New York Stock Exchange, changing its name to Statoil ASA. In 2007, the company merged with Norsk Hydro’s oil and gas division. As a result, it then became the largest offshore oil and gas company in the world. After temporarily changing its name to StatoilHydro, the company returned to its original name in 2009. On May 15th, 2018 Statoil changed its name to Equinor. Today, Equinor operates under the following segments: Development and Production Norway; Development and Production USA; Development and Production International; Marketing, Midstream and Processing; New Energy Solutions; and lastly, Other.
Equinor is the leading operator on the Norwegian continental shelf. As such, Equinor has a number of operations in Norway, which are currently the company’s largest source of revenue. The Development and Production Norway segment is focused on the exploration, development, and operational activities for these sites.
In addition to Equinor’s Norway operations, the company is in the process of expanding internationally. Equinor has two segments focused on this expansion: the Development and Production International segment (DPI) and the Development and Production USA segment (DPUSA). DPI is engaged in production and exploration in a number of different countries, with its main international development projects located in Brazil, Canada, and the United Kingdom. DPUSA is focused on offshore sites in Mexico and unconventional natural gas and oil resources in the United States.
Aside from the development and production of oil and natural gas, Equinor has a number of refineries and gas processing plants, which are operated by its Marketing, Midstream, and Processing segments. The company also has a New Energy Solutions segment, which operates its wind parks, renewable energy, and low-carbon energy solutions. Everything else, including research, development, and technology, falls under Equinor’s other segment.
Equinor is conscious of the effects of its business on the environment. As a result, the reduction of CO2 emissions is an important part of the company’s operations. Since 1996, Equinor has been an industry leader in carbon capture and storage (CCS) technology. Since the development of CCS, the company has captured approximately one million tons of CO2 each year from the natural gas on its Sleipner field. It is stored it in a formation 800 meters below the seabed, preventing it from being released into the atmosphere.
In addition, Equinor has two other significant CCS projects: the Snøhvit LNG cooling plant in the Barents Sea and the In Salah field in Algeria. They are also part of an innovative joint venture called Technology Centre Mongstad (TCM), which is the world’s largest facility for testing and improving CO2 capture. Currently, Equinor is in the exploration process for CO2 storage locations in the Norwegian sector of the North Sea, with the possibility of developing a separate business for this venture. Equinor’s extensive experience with carbon capture and storage has led the company to act as an advisor for regulations of CO2 storage to companies in Norway and internationally.
Norway’s climate and the depth of resources in the Norwegian continental shelf can be challenging when it comes to drilling for oil and natural gas. One thing that has made the company successful in this environment is its focus on innovative technology. Some of these innovations include completely new rig concepts that will increase the recovery and drilling on new fields and the development of subsea technology to increase production in the company’s subsea wells. Since Equinor’s 500 subsea wells account for half of its production, developing a way to reach resources in deep water is of critical importance. In fact, by 2020, Equinor hopes to have developed the technology to create a subsea factory to enable its operations to use remote-controlled transport of hydrocarbons at an offshore facility.
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