Equinor announced the sale of its Nigerian business, including its share in the Agbami oil field, to Nigerian-owned Chappal Energies. The agreement involves the sale of Equinor Nigeria Energy Company (ENEC), holding a 53.85 per cent ownership in Oil and Gas lease OML 128, including a unitized 20.21 per cent stake in the Agbami oil field operated by Chevron.
Chappal Energies expressed excitement about taking over the legacy from Equinor, pledging a focus on value creation, environmental stewardship, and community engagement. The closing of the transaction is subject to regulatory and contractual approvals.
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