Equinor Targets 27% Production Surge via U.S., Brazil and Angola

Executive vice president Philippe Mathieu outlined the strategy at the Offshore Northern Seas conference in Stavanger, noting that the company’s international production averaged 750,000 barrels per day in the second quarter of 2026. Beyond volume, Equinor projects an 80% growth in cash flow from these operations, signaling a shift toward a more resilient and profitable portfolio.

The United States remains the company’s largest international footprint, with production hitting 433,000 barrels daily in the second quarter of 2026. Future gains hinge on the deepwater Sparta project in the Gulf of Mexico, where Equinor holds a 49% stake. Shell, the operator, expects the site to commence production by 2028. Meanwhile, in Brazil, the Bacalhau pre-salt field is currently exceeding performance expectations, and the Raia gas field project is slated for a 2028 startup, potentially meeting 15% of the nation’s gas demand.

Africa rounds out the growth plan through Angola, where Equinor is leveraging its technical expertise in field life extension. Azule Energy has sanctioned the Greater PAJ development, expected to come online in 2029 with 250 million barrels of resources. To replenish these assets, the company is actively expanding its exploration scope, notably through a new partnership with Chevron in Namibia and ongoing assessments in Argentina.