Equinor Targets 27% International Production Growth by 2030

Norwegian energy company Equinor is targeting a significant increase in its international oil and gas production by 2030, aiming to reach 950,000 barrels of oil equivalent per day (boepd). This represents a 27% growth from the current level of 750,000 boepd.

The company has been focusing on fewer but more lucrative regions such as the U.S., Brazil, and Angola. In recent years, Equinor has streamlined its international portfolio by selling assets in Azerbaijan and Nigeria.

Equinor's executive vice president Philippe Mathieu said that the company is building a business with stronger margins and higher cash flow through portfolio high grading. Cash flow from production is expected to grow around 80% towards 2030, significantly faster than production.