Exploration & Production

Equinor agrees to buy Chevron’s interest in Rosebank project

Equinor has signed an agreement to acquire Chevron’s 40% operated interest in the Rosebank project on the UK Continental Shelf
By Staff reporter 1 October 2018 0 32741

Equinor has signed an agreement to acquire Chevron’s 40% operated interest in the Rosebank project on the UK Continental Shelf, the Norwegian major said in a statement on Monday.

“Today’s agreement allows us to buy back into an asset in which we previously had a participating interest, demonstrating our strategy of creating value through oil price cycles,” Al Cook, Equinor’s UK country manager and executive vice president for global strategy and business development, said in a note.

Rosebank was discovered in 2004 and is...