Equinor Eyes 27% International Production Surge by 2030

Equinor is focused on international growth, aiming to increase its overseas oil and gas output by 27% by 2030. The company has streamlined its portfolio outside of Norway in recent years, selling assets in Azerbaijan and Nigeria, but it has maintained and expanded its presence in the US, Brazil, and Angola.

The US is currently Equinor's largest country for production outside of Norway, with output reaching 433,000 barrels of oil equivalent per day (boepd) in the second quarter of this year. This growth was driven by increased production in both onshore natural gas assets and offshore fields. Equinor has also made significant investments in its US operations, including a 49% stake in the Sparta project in the deepwater Gulf of Mexico, which is expected to start producing up to 90,000 boepd by 2028.

Brazil is another key growth driver for Equinor's international production. The company-operated Bacalhau field has recently come online and is ramping up production faster than expected. Additionally, Equinor is progressing the Raia gas field development in Brazil, which is slated to start producing 15% of the country's projected gas demand by 2028.