Nigeria M&A | Equinor exits Nigeria, selling entire business to Chappal Energies

December 1, 2023

On 29 November 2023, Equinor announced the sale of its Nigeria business to Chappal Energies, for an undisclosed consideration. Equinor has a 53.85% interest in OML 128, which holds the Agbami deepwater field, operated by Chevron. The Agbami structure straddles the adjoining OML 127 and Equinor holds a 20.21% interest in the unitised field.