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Equinor completes acquisition with Shell in the US Gulf of Mexico

Equinor completes acquisition with Shell in the US Gulf of Mexico


Washington, August 19 - Neftegaz.RU. The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, whereby Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of $965 million in cash.

Equinor’s interest in the field is now 46%. Anadarko Petroleum Corporation is the operator with a 33.75% interest, and Chevron holds 20.25% interest.

This transaction demonstrates Equinor’s ambition to grow and strengthens the portfolio in the US Gulf of Mexico, now producing a total of more than 130,000 boe/day.  

Equinor has a broad portfolio in the Gulf of Mexico, with active exploration activity, equity- and operated production. In addition, Equinor has extensive US onshore operations with a total equity production of nearly 300,000 boe/d, and recently won a bid to deliver offshore wind energy to New York.

To read the full story in Russian.