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Segments
12 Months Ended
Dec. 31, 2021
Disclosure of operating segments [abstract]  
Disclosure of entity's operating segments [text block]
4 Segments
As from 1 June 2021 Equinor’s operations are managed through the following
 
operating segments (business areas): Exploration &
Production Norway (EPN), Exploration & Production International (EPI), Exploration & Production USA
 
(EPUSA), Marketing,
Midstream & Processing (MMP), Renewables (REN), Projects, Drilling and Procurement (PDP) and
 
Technology,
 
Digital & Innovation
(TDI) and Corporate staff and functions.
The main change in the organisational corporate structure compared to previous periods is that the
 
operating segment Development
& Production Brazil is merged into the operating segment Exploration & Production International.
 
In addition, the operating segment
Exploration is divided and merged into Exploration & Production Norway, Exploration & Production International and Exploration &
Production USA. Global Strategy & Business development is divided and merged into the
 
functions for Chief Financial Officer and
Safety, Security and Sustainability. The operating segment Technology,
 
Projects & Drilling is split into Technology,
 
Digital &
Innovation and Projects, Drilling & Procurement. The new organisational corporate structure has not resulted in
 
any changes in the
reportable segments.
The Exploration & Production business areas are responsible for the discovery and appraisal of new
 
resources and commercial
development of the oil and gas portfolios within their respective geographical areas: EPN on the
 
Norwegian continental shelf, EPUSA
in USA and EPI worldwide outside of EPN and EPUSA.
The PDP is responsible for field development, well deliveries and procurement in Equinor.
TDI brings together research, technology development, specialist advisory services, digitalisation, IT, improvement, innovation,
ventures and future business to one technology powerhouse.
The MMP business area is responsible for marketing and trading of oil and gas commodities
 
(crude, condensate, gas liquids,
products, natural gas and liquified natural gas), electricity and emission rights, as well as transportation,
 
processing and
manufacturing of the above-mentioned commodities, operations of refineries, terminals and processing - and
 
power plants and low
carbon solutions including carbon capture and storage which was previously the responsibility of the REN business
 
area.
The REN business area is responsible for wind parks and other renewable energy solutions.
The reporting segments Exploration & Production Norway (E&P Norway), Exploration & Production
 
International (E&P International),
Exploration & Production USA (E&P USA), Marketing, Midstream & Processing (MMP) and Renewables
 
(REN) consist of the
business areas EPN, EPI, EPUSA, MMP and REN respectively. The operating segments, PDP, TDI and corporate staffs and
functions are aggregated into the reporting segment “Other” due to the immateriality of these operating
 
segments. Most of the costs
within the operating segments PDP and TDI are allocated to the E&P Norway, E&P International, E&P USA, MMP and REN reporting
segments.
The changes do not have a material effect on comparable figures.
As from the first quarter of 2021, Equinor changed its reporting as REN became a separate reporting
 
segment. Previously the
activities in REN were reported in the segment “Other”. The new reporting structure has been applied
 
retrospectively with comparable
figures reclassified. The change has its basis in the increased strategic importance of the renewable business
 
for Equinor and that the
information is regarded useful for the readers of the financial statements.
Inter-segment sales and related unrealised profits, mainly from the sale of crude oil and products,
 
are eliminated in the Eliminations
column below. Inter-segment revenues are based upon estimated market prices.
Segment data for the years ended 31 December 2021, 2020 and 2019 are presented
 
below. The measurement basis of segment
profit is net operating income/(loss).
 
In the tables below, deferred tax assets, pension assets and non-current financial assets are not
allocated to the segments.
The measurement basis for segments is IFRS as applied by the group with the exception of IFRS
 
16 Leases and the line item
Additions to property, plant and equipment (PP&E), intangibles and equity accounted investments. All IFRS 16 leases are presented
within the Other segment. The lease costs for the period are allocated to the different segments
 
based on underlying lease payments,
with a corresponding credit in the Other segment. Lease costs allocated to licence partners are recognised
 
as other revenue in the
Other segment. Additions to PP&E, intangible assets and equity accounted investments in
 
the E&P and MMP segments include the
period’s allocated lease costs related to activity being capitalised with a corresponding negative addition in the
 
Other segment. The
line item Additions to property, plant and equipment (PP&E), intangibles and equity accounted investments excludes movements
related to changes in asset retirement obligations.
Full year 2021
E&P
Norway
E&P
International
E&P USA
MMP
REN
Other
Eliminations
Total
(in USD million)
Revenues third party, other revenue and
other income
269
1,113
377
87,025
1,394
485
0
90,665
Revenues inter-segment
38,972
4,230
3,771
321
0
5
(47,300)
0
Net income/(loss) from equity accounted
investments
0
214
0
22
16
7
0
259
Total revenues and other income
 
39,241
5,558
4,149
87,368
1,411
497
(47,300)
90,924
Purchases [net of inventory variation]
0
(58)
0
(80,873)
0
(1)
45,773
(35,160)
Operating, selling, general and
administrative expenses
(3,729)
(1,466)
(1,076)
(4,276)
(163)
264
1,066
(9,378)
Depreciation, amortisation and net
impairment losses
(4,678)
(3,257)
(1,733)
(1,079)
(3)
(970)
0
(11,719)
Exploration expenses
(363)
(451)
(190)
0
0
0
0
(1,004)
Total operating expenses
(8,770)
(5,232)
(2,999)
(86,227)
(166)
(707)
46,839
(57,261)
Net operating income/(loss)
30,471
326
1,150
1,141
1,245
(210)
(461)
33,663
Additions to PP&E, intangibles and equity
accounted investments
5,101
1,828
690
221
455
212
0
8,506
Balance sheet information
Equity accounted investments
 
3
1,417
0
113
1,108
45
0
2,686
Non-current segment assets
 
35,301
15,358
11,406
3,019
154
3,288
0
68,527
Non-current assets not allocated to
segments
 
13,406
Total non-current assets
 
84,618
Full year 2020
E&P
Norway
 
E&P
International
E&P
 
USA
MMP
REN
1)
Other
1)
Eliminations
 
Total
(in USD million)
Revenues third party, other revenue and
other income
91
451
368
44,605
18
232
0
45,765
Revenues inter-segment
11,804
3,183
2,247
309
0
4
(17,547)
0
Net income/(loss) from equity accounted
investments
0
(146)
0
31
163
5
0
53
Total revenues and other income
 
11,895
3,489
2,615
44,945
181
241
(17,547)
45,818
Purchases [net of inventory variation]
0
(72)
0
(38,072)
0
1
17,157
(20,986)
Operating, selling, general and
administrative expenses
(2,829)
(1,439)
(1,313)
(5,060)
(215)
634
685
(9,537)
Depreciation, amortisation and net
impairment losses
(5,546)
(3,471)
(3,824)
(1,453)
(1)
(939)
0
(15,235)
Exploration expenses
(423)
(2,071)
(990)
0
0
1
0
(3,483)
Total operating expenses
(8,798)
(7,054)
(6,127)
(44,586)
(216)
(304)
17,842
(49,241)
Net operating income/(loss)
3,097
(3,565)
(3,512)
359
(35)
(63)
296
(3,423)
Additions to PP&E, intangibles and equity
accounted investments
4,851
2,609
1,068
190
31
1,013
0
9,762
Balance sheet information
Equity accounted investments
 
3
1,125
0
92
1,017
25
0
2,262
Non-current segment assets
2)
37,733
17,835
12,586
4,368
3
4,132
0
76,657
Non-current assets not allocated to
segments
 
13,704
Total non-current assets
 
92,623
1) Reclassified.
2) Restated. For more information, see note 21
 
Provisions and other liabilities.
Full year 2019
E&P
Norway
 
E&P
International
E&P
 
USA
MMP
REN
1)
Other
1)
Eliminations
 
Total
(in USD million)
Revenues third party, other revenue and
other income
1,048
1,685
441
60,491
258
269
0
64,194
Revenues inter-segment
17,769
4,376
3,792
439
0
4
(26,379)
0
Net income/(loss) from equity accounted
investments
15
24
6
25
95
(1)
0
164
Total revenues and other income
 
18,832
6,085
4,239
60,955
353
271
(26,379)
64,357
Purchases [net of inventory variation]
(1)
(34)
0
(54,454)
0
(1)
24,958
(29,532)
Operating, selling, general and
administrative expenses
(3,284)
(1,684)
(1,668)
(4,897)
(192)
465
793
(10,469)
Depreciation, amortisation and net
impairment losses
(5,439)
(2,228)
(4,133)
(600)
(1)
(803)
0
(13,204)
Exploration expenses
(478)
(668)
(709)
0
0
0
0
(1,854)
Total operating expenses
(9,201)
(4,614)
(6,510)
(59,951)
(193)
(339)
25,750
(55,058)
Net operating income/(loss)
9,631
1,471
(2,271)
1,004
160
(68)
(629)
9,299
Additions to PP&E, intangibles and equity
accounted investments
7,316
2,851
3,004
788
175
648
0
14,782
Balance sheet information
Equity accounted investments
 
3
321
0
90
1,003
25
0
1,442
Non-current segment assets
2)
34,938
21,161
16,929
5,248
187
4,026
0
82,489
Non-current assets not allocated to
segments
 
11,152
Total non-current assets
 
95,083
1) Reclassified.
2) Restated. For more information, see note 21 Provisions
 
and other liabilities.
Non-current assets by country
At 31 December
(in USD million)
2021
2020
2)
Norway
40,564
44,311
USA
12,323
13,383
Brazil
8,751
8,359
UK
2,096
4,491
Azerbaijan
1,654
1,708
Canada
1,403
1,584
Russia
1,235
973
Angola
948
883
Algeria
708
808
Denmark
536
953
Other
996
1,465
Total non-current assets
1)
71,213
78,919
See note 5 Acquisitions and disposals for information on transactions that affect the different segments.
See note 11 Property,
 
plant and equipment for further information on impairment losses and impairment reversals that
 
affect the
different segments.
See note 12 Intangible assets for information on impairment losses and impairment reversals
 
that affect the different segments.
See note 24 Other commitments, contingent liabilities and contingent assets for information on
 
contingencies that affect the segments.
Revenues from contracts with customers by geographical areas
Equinor has business operations in around
30
 
countries.
When attributing the line item Revenues third party, other revenue and other
income to the country of the legal entity executing the sale for 2021, Norway constitutes
81
% and USA constitutes
13
%. For 2020 the
revenues to Norway and USA constituted
80
% and
14
% respectively, and for 2019
75
% and
18
% respectively.
Revenues from contracts with customers and
 
other revenues
(in USD million)
2021
2020
2019
Crude oil
38,307
24,509
33,505
Natural gas
28,050
7,213
11,281
 
- European gas
24,900
5,839
9,366
 
- North American gas
1,783
1,010
1,359
 
- Other incl LNG
1,368
363
556
Refined products
11,473
6,534
10,652
Natural gas liquids
8,490
5,069
5,807
Transportation
921
1,083
967
Other sales
1,006
681
445
Total revenues from contracts with customers
88,247
45,088
62,657
Taxes paid in-kind
345
93
344
Physically settled commodity derivatives
(1,075)
209
(1,086)
Gain/(loss) on commodity derivatives
951
108
732
Other revenues
276
256
265
Total other revenues
497
665
254
Revenues
88,744
45,753
62,911