Equinor SA on Monday set a goal to become a net-zero energy operator in 30 years, joining goals set out by fellow European-based oil and natural gas majors.

The Norway-based energy major still expects to deliver production growth of around 3% on average from 2019 to 2026 through “competitive and resilient projects.” The net-zero ambition is designed to strengthen future competitiveness and value creation for major projects on the Norwegian continental shelf.

“Equinor is committed to being a leader in the energy transition,” said CEO Anders Opedal, who took over running the global operator on Monday. “It is a sound business strategy to ensure long-term competitiveness during a period of profound changes in the energy systems as society moves toward net zero. Over the...