Equinor gets go-ahead to acquire Royal Dutch Shell fields

shell

Norway’s state oil and gas corporation, Equinor said it has received an approval to acquire Caesar Tonga oil field from Shell Offshore Inc.

The company said in a statement that the Bureau of Ocean Energy Management has approved the transaction where Equinor exercised its preferential right to acquire 22.45% interest in the field.

The acquisition will go for a total consideration of USD 965 million in cash. The company said its interest in the field is now 46%. 

Anadarko Petroleum Corporation is the operator with a 33.75% interest, and Chevron holds 20.25% interest.

Equinor said it has the ambition to grow and strengthens the portfolio in the US Gulf of Mexico, now producing a total of more than 130,000 boe/day.