Equinor Targets 27% International Production Growth by 2030
Alongside boosting exploration and production offshore its home market Norway, Equinor is pursuing an international growth strategy, aiming to significantly increase its overseas oil and gas output by focusing on fewer but more lucrative regions such as the U.S., Brazil, and Angola. In recent years, Equinor has streamlined and high-graded its portfolio outside Norway, selling assets and positions…
Equinor aims for 27% international oil and gas output growth by 2030, focusing on lucrative regions like the U.S., Brazil, and Angola. The company has streamlined its international portfolio, selling assets in Azerbaijan and Nigeria while maintaining and expanding its presence in the U.S., Brazil, and Angola. International production averaged 750,000 barrels of oil equivalent per day in the second quarter of 2026 and is expected to reach 950,000 boepd by 2030.
Equinor's international oil and gas portfolio is being optimized for higher margins and cash flow. Production in the U.S. and Brazil has surged, driving international growth, with Equinor holding a 49% stake in the Sparta deepwater U.S. Gulf of Mexico project. Brazil's Bacalhau field, the first pre-salt field developed by an international company, is ramping up production, while the Raia gas field is expected to start operations in 2028.
Angola's Greater PAJ Palas, Astrea, and Juno project, in which Equinor has a minority stake, aims to unlock 250 million barrels of resources. Equinor is also exploring opportunities in Brazil, Angola, Namibia, Argentina, and the U.S. to support a strong international portfolio.
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