Chappal Energies’ Acquisition of Equinor’s Nigerian Assets

Chappal Energies, a prominent energy company in Nigeria, has announced its intention to acquire the Nigerian operations of Equinor, a major energy corporation headquartered in Norway.

The recent agreement involves the transfer of Equinor Nigeria Energy Company, which holds a 53.85% interest in Oil Mining License 128. This license also encompasses a 20.21% stake in the Agbami field, a significant deepwater oil discovery situated off the coast of the Niger Delta and presently managed by Chevron.

Nina Koch, the Senior Vice President for Africa Operations at Equinor, has stated that “Chappal Energies is a dedicated Nigerian-owned energy company with the goal of further developing these assets, thus making substantial contributions to the Nigerian economy for years to come.”

Chappal Energies is focused on investing in valuable and distressed brownfield upstream opportunities in Nigeria’s Niger Delta region. The acquisition is anticipated to have a positive impact on the Nigerian energy sector and the nation’s economy at large.