Equinor: Nigerian assets sold to Chappal Energies

(CercleFinance.com) - Chappal Energies is to acquire a stake in several Nigerian oil fields from Norway's Equinor, for an undisclosed sum.


The agreement covers the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% interest in the OML 128 oil and gas project.

In particular, it includes the 20.21% share held in the Agbami offshore platform, operated by the American Chevron and which has produced more than a million barrels of oil since it came on stream in 2008.

Equinor, which recalls that it has been present in Nigeria since 1992, justifies its decision by its desire to monetize its investments and by its strategy of optimizing its international portfolio by focusing on its core businesses.

On the stock market, Equinor lost 2% late Wednesday, penalized by a downgrade by Jefferies analysts to 'underperform' on the stock.

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