Equinor signs deal for Shell to buy 30% stake in Bay du Nord project offshore Canada

Bitget2026/10/09 12:02

Equinor signed a deal for Shell to buy 30% of the Bay du Nord oil project offshore Newfoundland and Labrador. Equinor will keep 70% and remain operator as the partners target a final investment decision in early 2027. Transaction supports risk sharing as Bay du Nord completes FEED for an FPSO-led development with subsea tiebacks. Initial phase recoverable resources estimated at more than 400 million barrels; investment estimated at about CAD 14 billion. First oil expected in 2031, subject to market conditions, regulatory approvals, and internal decision processes. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Equinor ASA published the original content used to generate this news brief on October 09, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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