Published on 1 Dec 2023 on Zacks via Yahoo Finance
Equinor ASA EQNR entered an agreement to divest its Nigeria business to Nigeria-based Chappal Energies.
The move is part of Equinor’s initiatives to optimize asset allocation and align its portfolio with its core business strategy.
The divestment encompasses the company’s stake in the Agbami oil field. The Agbami oilfield project stands as one of Nigeria’s major deepwater developments. Since its commencement in 2008, the Agbami field has yielded more than 1 billion barrels of oil.