Equinor Completes UK Rosebank Acquisition from Chevron

Equinor and Chevron have completed a transaction whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank project in the West of Shetland region of the UK Continental Shelf.

The Rosebank field was discovered in 2004 and lies about 130 km northwest of the Shetland Islands in water depths of approximately 1,110m.

The Rosebank field is a subsea development tied back to a floating production, storage and offloading  (FPSO) vessel, with natural gas exported via pipeline.

Rosebank further strengthens Equinor’s UK upstream portfolio which includes the Mariner development, expected to start commercial production during the first half of 2019.

The other partners in the field are Suncor Energy (40%) and Siccar Point Energy (20%).