Equinor said it would make a final investment decision by May 2022 on Rosebank, which it plans to develop using a floating production, storage, and offloading vessel.
Last year, Equinor finalized an agreement to acquire Chevron Corp.’s 40% operated interest in the Rosebank project, one of the largest undeveloped fields on the UK Continental Shelf.
Rosebank field is 130 km northwest of the Shetland Islands in 1,110 m of water. It was discovered in 2004. Other partners in the field are Suncor Energy Inc. 40% and Siccar Point Energy 20%.
Equinor has said the transaction will strengthen its UK assets, which includes the Mariner development, exploration opportunities, and three producing offshore wind farms.
