Equinor Aims for 27% International Production Growth by 2030
Equinor is targeting a significant increase in its international oil and gas production, aiming to grow it from an average of 750,000 barrels of oil equivalent per day (boepd) in Q2 2026 to around 950,000 boepd by 2030. The company is focusing on key markets such as the U.S., Brazil, and Angola while exiting less profitable regions like Azerbaijan and Nigeria. The growth strategy includes expanding production through major projects in these countries. In the U.S., Equinor's output has already surged to 433,000 boepd in Q2 2026, with further expansion expected from its stake in Shell’s Sparta project set for a 2028 start-up. Brazil is also emerging as a key growth area, particularly through the Bacalhau and Raia fields. In Angola, Equinor plans to leverage its Norwegian offshore experience on projects like Greater PAJ. The company emphasized that this strategy will not only boost production but also improve margins and cash flow significantly by 2030.
Tickers: $EQNR
Topics: gas international expansion oil portfolio optimization production growth