Equinor brings Shell in to Gulf of Mexico project
Norway’s Equinor said June 29 it had sold 51% of its interest in the North Platte deep water development project in the Gulf of Mexico to Shell. Equinor will retain a 49% interest in the project, renamed Sparta, and Shell will become the operator.
“Equinor has long-term view of Sparta as a high-quality project with a clear strategic fit for the company,” said Chris Golden, Equinor’s senior vice president, US Upstream, Exploration and Production International. “Sparta will strengthen our position in the Gulf of Mexico as well as our overall role as a reliable energy supplier to the US.”
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In February, Equinor found itself the sole owner of North Platte when French major TotalEnergies withdrew, citing more attractive opportunities for its capital.