Norwegian energy company Equinor has announced the sale of its Nigerian business, including its 53.85% stake in oil and gas lease OML 128, which encompasses the significant Agbami oil field.
The buyer is Chappal Energies, a Nigerian-owned energy firm committed to further developing the assets and contributing to Nigeria's economy. Equinor's presence in Nigeria dates back to 1992, and the Agbami field, operated by Chevron, has been a focal point of their contributions.
The transaction aligns with Equinor's strategy to optimize its international portfolio. The deal's completion is contingent on regulatory and contractual approvals.
