EQNR - Equinor seeking sale of Nigerian oilfield stake for up to $1B - report

Equinor ( NYSE: EQNR ) has launched a sale of its 20.2% stake in the Agbami offshore oil field in Nigeria for as much as $1B, part of the Norwegian energy company's efforts to focus on newer and more profitable operations, Reuters reported Wednesday.

The company has hired Standard Chartered to run the sale process, according to the report.

Equinor ( EQNR ) was entitled to net production of ~25K boe/day through its stake in the Agbami field, which is operated by Chevron ( CVX ).

The Norwegian company, which has been present in Nigeria since 1992, also holds a 53.8% stake in exploration license OML 129.

Equinor ( EQNR ) offers investors a 10%-plus yield via dividends, special dividends and buybacks, Michael Wiggins de Oliveira writes in an analysis published recently on Seeking Alpha .

For further details see: