Nigeria’s Chappal Energies is set to acquire the Nigerian business of Norwegian multinational energy company Equinor.
Announced last week, the transaction involves the sale of Equinor Nigeria Energy Company, which holds 53.85% ownership in Oil Mining License 128.
The license includes a 20.21% stake in the offshore Agbami field, which was the second major deepwater oil field discovered off the Niger Delta and is currently operated by Chevron.
“Chappal Energies is a committed Nigerian-owned energy company with the ambition to develop the assets further, contributing to the Nigerian economy for years to come,” commented Nina Koch, Senior Vice President for Africa Operations, Equinor.
Chappal Energies focuses on investments in deep value and distressed brownfield upstream opportunities in Nigeria’s Niger Delta region.
