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BREAKING NEWS

Equinor to decide on UK's Rosebank project by May 2022

Equinor to decide on UK's Rosebank project by May 2022
FILE PHOTO: A logo of Equinor at the company's headquarters in Fornebu, Norway May 21, 2018. REUTERS/Nerijus Adomaitis -
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Nerijus Adomaitis(Reuters)
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OSLO (Reuters) – Equinor and its partners will make a final investment decision for Rosebank, one of the largest undeveloped oil and gas fields on the British side of the North Sea, by May 2022, the Norwegian major said on Tuesday.

“We believe there is more value to capture in Rosebank including the opportunity to reduce development cost,” Hedda Felin, Equinor’s senior vice-president for UK and Ireland, said in a statement.

Equinor and Suncor Energy have each 40% interest in the Rosebank project, while Siccar Point Energy has the remaining 20%.

(Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)

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