Equinor: disposes of activities in Azerbaijan and Nigeria
(CercleFinance.com) - Equinor announces the closing of transactions related to the divestment of its upstream activities in Azerbaijan and Nigeria, for a total estimated value of $2bn.
These disposals, finalised on 29 November and 6 December, 2024, are part of Equinor's strategy to refocus its international portfolio.
In Azerbaijan, the sale represents $745m, while in Nigeria, the transaction amounts to $1.2bn, including $710m in purchase price and contingent payments.
These exits generate value and strengthen our ability to maintain long-term production and profitability, it said.
Equinor states that these divestments should improve cash flow in Q4 2024 and contribute to the objective of increasing cash flow in this segment by 50% by 2030.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
These disposals, finalised on 29 November and 6 December, 2024, are part of Equinor's strategy to refocus its international portfolio.
In Azerbaijan, the sale represents $745m, while in Nigeria, the transaction amounts to $1.2bn, including $710m in purchase price and contingent payments.
These exits generate value and strengthen our ability to maintain long-term production and profitability, it said.
Equinor states that these divestments should improve cash flow in Q4 2024 and contribute to the objective of increasing cash flow in this segment by 50% by 2030.
Copyright (c) 2024 CercleFinance.com. All rights reserved.