The deal includes Suncor’s 40% stake in the Equinor-operated offshore Rosebank oil and gas project, located some 130 km northwest of Shetland Islands
British North Sea oil and gas assets for around $1-billion, three sources familiar with the matter told Reuters on Wednesday.
Equinor, which already owns 40 per cent of Rosebank, had previously estimated the project’s cost at about £4.3-billion . London-listed Ithaca Energy holds the remaining 20 per cent in the Rosebank development. The windfall tax led many companies, including Equinor, to warn that they could reduce their UK North Sea investments.
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