Equinor Targets 27% International Production Growth by 2030
CNOOC Posts Record Profit as China Pumps More Oil at Home Global battery-storage capacity surged to… What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… 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 in Azerbaijan and Nigeria, to name a few.
But Equinor has kept and grown its U.S., Brazilian, and Angolan businesses, and plans tokeep these growing through 2030, the company’s executives said at the Offshore Northern Seas (ONS) energy conference in Stavanger this week.
Equinor’s international production averaged 750,000 barrels of oil equivalent per day (boepd) in the second quarter of 2026.
The company expects to raise this to 950,000 boepd by 2030, by boosting the U.S., Brazilian, and Angolan output, executive vice president Philippe Mathieu said at a press briefing in Stavanger on Tuesday.
“Equinor’s international oil and gas portfolio is simplified, improved and set for significant growth,” Mathieu said.
“This is not just about production growth.
Through portfolio high grading we are building a business with stronger margins and higher cash flow,” the executive added.
“Cash flow from production is expected to grow around 80% towards 2030, significantly faster than production, reflecting a more competitive and resilient portfolio.” In the two years to 2026, Equinor raised its international oil and gas production by 10% despite exiting from legacy markets such as Azerbaijan and Nigeria.Related: Satellite Images Show Seven Tankers Loading Iraqi Crude at Once The increase was mostly driven by surging production in the U.S.
Equinor’s production in the United States jumped to 433,000 boepd in the second quarter of 2026, up by 100,000 boepd compared to the same quarter of 2024.
Equinor has a participating stake in a new project expected to bring more production by the end of the decade.
It is a shareholder with 49% in the Sparta project in the deepwater U.S.
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