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Equinor in Korea

Firefly illustration

We are an international energy company headquartered in Norway with around 23,000 employees in around 30 countries, and our purpose is: Energy for people. Progress for society. Searching for better.

Every day, more than 170 million people around the world benefit from the energy we provide. Energy that not only powers their needs but enriches their lives. At the same time, we aim to be a net zero company by 2050, finding new solutions to oil, gas, renewables and low carbon in the energy transition.

Equinor in Korea

Korea is transforming its energy mix from fossil power to renewable energy. The share of renewable energy in its power production is estimated to increase to 20% by 2030.

As a global offshore wind major and a leading developer of floating offshore wind, we see strong potential for offshore wind in Korea and consider the country to be an essential market for floating offshore wind going forward.

Equinor is developing a portfolio up to 4-6 GW pipeline of offshore wind projects at different maturity levels in South Korea. You can read more about our most mature projects - Bandibuli (Firefly) and Donghae1 - below.

Equinor has been in Korea since 2014 and has been working with local suppliers for many years to support the construction of large platforms and vessels in Korean shipyards. These include:

  • Daewoo Shipbuilding & Marine Engineering (DSME) for the construction of Mariner topsides.
  • Samsung Heavy Industries (SHI) for the delivery of two category J drilling rigs for the Oseberg and Gullfaks fields, topsides for Valemon and Johan Sverdrup, and a floating storage unit for Heidrun.
  • Hyundai Heavy Industries (HHI) for the construction of the Aasta Hansteen topside and hull.

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Equinor in the local community

We deliver energy to millions of people worldwide. Safe and responsible operations are essential for our licence to operate and to enable long-term value creation.

Equinor has a long tradition for co-operation and engagement with local communities within both offshore oil and gas developments and in offshore wind.

Read more about how we engage with local communities

Our projects

Bandibuli offshore wind project

The Bandibuli floating offshore wind project (also known as Firefly), with a capacity of up to 750MW, is currently being matured by Equinor. The project is located approximately 60 to 70km off the coast of Ulsan, Korea, at a water depth of between 150 to 300 meters. The project received the Electric Business License (Korean seabed exclusivity) in 2021, and approval of the project’s Environmental Impact assessment in July 2024.

For more information about the project, visit the Bandibuli/Firefly wind website

Donghae1 offshore wind project

The Donghae1 floating offshore wind project, with a capacity of up to 200MW, is currently being matured by KNOC (lead developer) with partners EWP and Equinor. The project received the Electric Business License (Korean seabed exclusivity) in 2021, and is currently preparing for the project’s Environmental Impact assessment.

Map showing location of windfarms

Supplier information

Equinor believes that maintaining a strong relationship with high-quality suppliers will enable us to maintain competitiveness over time. We choose suppliers who operate in accordance with our values, and maintain high standards for health, safety and environment (HSE), ethics and corporate social responsibility.

Major infrastructure developments like our wind farm projects off the coast of Ulsan, bring a wide range of economic development opportunities for businesses, and create new jobs, which generates a range of positive impacts for the local communities. It can also drive investments in Korea’s renewable energy sector and enhance local supply chain capabilities. This is also an opportunity for South Korea and the Korean industry to take a leading role in developing the market for floating wind.

If you want to know more about how to become a supplier to Equinor in South Korea, contact us on email: UlsanFOW@equinor.com

More information can be found here:

Becoming an Equinor supplier (equinor.com)

Contact us

Equinor welcomes feedback from local stakeholders and those working in our supply chain.

Email: UlsanFOW@equinor.com

Equinor Korea

Busan | 22F, 79 Centum Jungang-ro, Haeundae-gu, Busan, South Korea [48058] | Tel : +82 (0)10 8323 5480
Seoul | 22F, Mirae Asset Center1 – East wing, Eulji-ro 5-gil 26, Jung-gu, Seoul, Republic of Korea [04539]