Equinor ASA (EQNR) Q4 2022 Earnings Call Transcript

For the period ending March 31, 2022

February 8, 2023 7:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, good afternoon. It is a pleasure to welcome you all to the presentation of Equinor's Fourth Quarter and Full-Year Results for 2022 and our Capital Markets update. My name is Bård Glad Pedersen, I am since December last year, heading up the Investor Relations team in Equinor. We have looked forward to engage with you all, and I will soon take you through the program for today. But safety first, if an emergency situation occurs while we are here, the evacuation signal is a voice announcement. We will only evacuate if the announcement say that we should do so. Then please follow the marked fire exits and the instructions from the guards, exiting is at the ground floor, and venue staff will show you to the assembly point.

Today we will have three presentations here in the plenary session. First of all, it's Anders Opedal, our CEO; then our EVP for MMP, Irene Rummelhoff will present before the session is concluded with Torgrim Reitan, our CFO. After the presentations, there will be Q&A session where the three presenters will be on stage and also the CEC is here and available to respond.

Following that, you are all invited to join us for our lunch. And for those of you who have signed up, there are breakout sessions with the EVPs for EPN, EPI, Ren, MMP, PDP and TDI afterwards. They will all give short introductions and ready to answer your questions. Finally, let me remind you that all the presentations here today are subject to the forward-looking statements that are included.

Then, Anders, we are ready to start and the floor is yours.

Anders Opedal

Thank you, Bård and it's really good to see you all and to me is a pleasure to welcome you finally here in London for our Capital Markets Update. And I and my team, we are really looking forward to share our financial results and the progress on strategy and ambitions.

2022 was our special year. The war in Europe still causes human suffering and has disrupted the energy markets contributing to inflation and cost of living crisis. In Europe, this year marks a shift as we move forward, not relying on Russian oil and gas. Equinor responded quickly and we are well positioned to be a part of the solution. Short-term, deliver the energy needed, longer-term to build up sustainable energy sources contributing to energy security and decarbonization. Our milestone this year is the start-up of the Dogger Bank, the world largest offshore wind farm here in U.K. This leads me to the topic of the day, how we will deliver strong returns through the transition.