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Equinor completes acquisition of Chevron's 40% stake in Rosebank field

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Equinor completes acquisition of Chevron's 40% stake in Rosebank field

Norway-based Equinor announced Jan. 11 that it completed the acquisition of Chevron Corp.'s 40% stake in the Rosebank field in the U.K.

No financial details were provided.

Signed in October 2018, the acquisition makes Equinor the contract operator. Suncor Energy Inc. also holds a 40% interest, while Siccar Point Energy Ltd. owns 20%.

The field, discovered in 2004, was estimated to contain about 240 million barrels of oil equivalent. It is 130 kilometers northwest of the Shetland Islands in water depths of about 1,110 meters.

Equinor is also testing the Mariner field in the U.K., which is estimated to cost more than £4.5 billion.