Norwegian oil company Equinor has announced a significant divestment from Chevron’s operated Agbami field, indicating a substantial offloading of its business interests in Nigeria. The company has agreed to sell its Nigerian business, including its share in the Agbami oil field, to Nigerian-owned Chappal Petroleum Development Company.
Equinor Nigeria Energy Company (ENEC), holding a 53.85 per cent ownership in oil and gas lease OML 128, with a 20.21 per cent stake in the Agbami field. The move aligns with Equinor’s strategy to optimize its international oil and gas portfolio.
The transaction is subject to regulatory and contractual approvals, with Equinor expressing its expectation to book a gain upon completion
