Equinor reportedly prepares to sell quarter of Rosebank stake

09/11/2023

EQUINOR is preparing to sell 20% of its stake in the Rosebank development, the largest untapped oil and gas field in the UK.

The Norwegian energy giant doubled its stake in the field earlier this year after it acquired Suncor Energy’s UK business for $850million (£692m).

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Sources told Reuters the sell could fetch Equinor up to $1.5billion (£1.22b).

Equinor declined to comment.

The project was given the go-ahead in September.

Production is due to begin in 2026/27, with an expected lifetime output of 300 million barrels of oil.

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