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Equinor targets higher overseas oil and gas output by 2030
Equinor said international production averaged 750,000 barrels of oil equivalent per day in Q2 2026 and it expects 950,000 boepd by 2030.
Equinor outlined plans to grow its overseas oil and gas output through 2030, focusing on fewer, higher value regions including the U.S., Brazil, and Angola, while having streamlined and high-graded its portfolio outside Norway, OilPrice reports. The company said it has sold assets and exited positions in countries such as Azerbaijan and Nigeria in recent years.
At the Offshore Northern Seas (ONS) energy conference in Stavanger, executives said its international production averaged 750,000 barrels of oil equivalent per day in the second quarter of 2026. Equinor expects to raise that figure to 950,000 boepd by 2030 by boosting output in the U.S., Brazil, and Angola, executive vice president Philippe Mathieu said at a Tuesday press briefing.
Equinor also linked the growth target to margin and cash flow improvements, saying its international portfolio is simplified and set for significant growth. The company stated that over the two years to 2026, it increased international oil and gas production by 10%, even as it exited legacy markets such as Azerbaijan and Nigeria.
Mathieu said the strategy is not only about production, but about building a business with stronger margins and higher cash flow through portfolio high grading, according to OilPrice.