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BRIEF-Equinor buys Chevron's 40 pct stake in Rosebank project

Published 2018-10-01, 09:24 a/m
© Reuters. BRIEF-Equinor buys Chevron's 40 pct stake in Rosebank project
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Oct 1 (Reuters) - Equinor Asa EQNR.OL :

* EQUINOR HAS SIGNED AN AGREEMENT TO ACQUIRE CHEVRON'S 40% OPERATED INTEREST IN ROSEBANK PROJECT

* EQUINOR SAYS ONCE CONCLUDED, TRANSACTION WILL STRENGTHEN EQUINOR'S UK PORTFOLIO, WHICH INCLUDES MARINER DEVELOPMENT, ATTRACTIVE EXPLORATION OPPORTUNITIES AND THREE PRODUCING OFFSHORE WIND FARMS

* OTHER PARTNERS IN FIELD ARE SUNCOR ENERGY (40%) AND SICCAR POINT ENERGY (20%)

* PARTIES HAVE AGREED NOT TO DISCLOSE COMMERCIAL TERMS OF AGREEMENT

* TRANSACTION IS SUBJECT TO CUSTOMARY CONDITIONS, INCLUDING PARTNER AND AUTHORITY APPROVAL, WITH COMPLETION TARGETED AS SOON AS POSSIBLE

* EQUINOR SAYS "WE INTEND TO LEVERAGE OUR EXPERIENCE AND COMPETENCE TO CREATE FURTHER VALUE IN ROSEBANK, IN ALIGNMENT WITH UK GOVERNMENT'S PRIORITY OF MAXIMISING ECONOMIC RECOVERY OF UKCS"

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