Norwegian energy company Equinor has announced the sale of its Nigerian business, including its share in the Agbami oil field, to Nigerian-owned Chappal Energies. The transaction marks the end of Equinor’s three-decade presence in Nigeria.
The agreement covers the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitized 20.21% stake in the Agbami oil field, operated by Chevron.
Equinor has been a significant player in the development of Nigeria’s oil and gas sector, particularly in the Agbami field, which has produced over 1 billion barrels of oil since its inception in 2008.
“Nigeria has been an important part of Equinor’s international portfolio over the
