Equinor partners on offshore play in US Gulf of Mexico

USA

NEW ORLEANS, June 30, 2022 – Equinor has agreed to sell Shell a 51% operating share of the North Platte deepwater project in the US Gulf of Mexico, the Norwegian NOC announced on Wednesday.

As part of the deal, the companies are renaming the development from the North Platte project to the Sparta project.

Equinor will remain as a partner on the development with the remaining 49% equity.

The Sparta field is located on blocks 915, 916, 958 and 959 around 275 kilometres from Louisiana in water depths of 1,300 metres.

Cost of the sale was not disclosed.

The deal is subject to authority approval.

Equinor entered the project in 2018 with a 40% stake, with TotalEnergies holding the remaining operating stake. TotalEnergies withdrew from the project in February 2022, leaving Equinor with full ownership.

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