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$10 billion is planned to be invested in the maintenance and renovation of energy facilities. According to Sinochem News, Norway’s energy giant Equinor recently announced that it has signed 12 framework agreements with 7 suppliers, worth a total of $10 billion. These contracts will come into effect gradually in the first half of 2026, with a base term of 5 years, along with options to extend them for another 3 years or 2 years. The scope of services covers the full lifecycle maintenance and renovation needs of offshore and onshore energy facilities. Sethil Hoff, Executive Vice President of Norway’s continental shelf operations at Equinor, said that this move is aimed at achieving a stable production level of 1.2 million oil equivalents per day by 2035, and that by strengthening innovative partnerships with suppliers, the company can enhance its core competitiveness and continue to supply stable energy to Europe. To achieve these goals, Equinor plans to invest $6 billion to $7 billion per year in the Norwegian shelf for projects aimed at improving recovery rates as well as the development of new oil fields. The accompanying work plan includes drilling 250 exploration wells and 600 enhanced oil recovery wells per year, carrying out 300 well intervention operations, advancing 2,500 renovation projects, and facilitating the implementation of more than 75 underwater development projects; all of these projects will be connected to existing infrastructure in order to reduce costs. Regarding key projects, Equinor and its partners have invested $396 million to build the first external connection system for the giant Arctic oil field of John Kossberg, enabling access to newly discovered oil and gas fields. Grette Birgit Harland, senior vice president of the company’s northern exploration and production operations, said the project is expected to add 250 million to 550 million barrels of recoverable reserves. Currently, Norsk Hydro is enhancing its overall production capacity through low-cost methods such as exploring resources around existing oil fields and connecting them to the grid.