”Production will decline to achieve the energy transition, but there are huge amounts of oil and gas that the world will need to produce for many, many decades. This means that the industry will need to invest many, many billions of dollars to maintain production at a reasonable level. In other words, significant investments are needed because the underlying decline in the fields is so large,” Kjetil Hove, Equinor’s Executive Vice President for Exploration and Production in Norway, told EnergyWatch Norway.