Equinor increases stake in US Gulf of Mexico deepwater field
14 May, 2019
Norwegian multinational energy company Equinor has acquired an additional 22.45% stake in the Caesar Tonga oil field from Shell for a total of US$965m (£746m).
The increase brings Equinor’s stake to 46%, while operator Anadarko holds a 33.75% share and Chevron holds 20.25%.
Caesar Tonga is located 180 miles south-southwest of New Orleans in the Green Canyon area, one of the largest deepwater resources in the US Gulf of Mexico.
Equinor’s current share of production from the field is 18,600 barrels of oil equivalent per day.
Speakers from both Equinor and Shell will feature in a panel session focusing on energy transition at the Energy Exports Conference 2019, alongside Wood and BP.