(Bloomberg) – Equinor ASA, Norway’s greatest oil and gasoline producer, is trying to promote plenty of Angolan fields, based on individuals aware of the matter.
Equinor is working with a monetary adviser to assist establish potential patrons, the individuals stated, asking to not be named as a result of the knowledge isn’t public. It intends to retain a small stake in one of many fields, they stated. Deliberations are ongoing and no remaining choice on a sale has been made, they stated.
The Norwegian firm has in recent times sought to streamline its worldwide portfolio, agreeing to exit Azerbaijan and Nigeria in 2024 and most lately divesting its onshore fields in Argentina.
Equinor spokesperson Ola Morten Aanestad stated the corporate doesn’t touch upon rumors or hypothesis. “Angola is a core nation for Equinor and we see a long run future there,” he stated.
Talking at an occasion in Oslo earlier this week, Vice President for Worldwide Exploration and Manufacturing Philippe Mathieu stated Equinor is focusing on fields in Brazil, the Gulf of Mexico, the U.S. and the UK to spice up manufacturing from its worldwide portfolio to 900,000 bpd by 2030, up from about 700,000 bpd in 2025.
Equinor is concerned in three offshore producing blocks on the Angolan continental shelf, with fairness manufacturing in 2024 totaling about 110,000 boed, in accordance to its web site.
Angola is working to stem a long-term decline in oil output attributable to an absence of funding. The nation has set a goal of sustaining output above 1 MMbpd, and in 2023 stop OPEC as a result of the group was insisting on slicing its manufacturing restrict.