Equinor has agreed to sell to Shell 51% of its interest in the North Platte deep water development project in the US Gulf of Mexico. Equinor will retain 49% interest in the project, and Shell will become the new operator of the field.
To reflect this change, Equinor and Shell have agreed to rename the development the Sparta development.
Sparta straddles four blocks of the Garden Banks area, 275 km off the coast of Louisiana in approximately 1,300 metres of water depth. Front-end engineering and design (FEED) has been matured for the project. Equinor and Shell will now work closely to review the work that has been completed and update the development plan.
The transaction is subject to customary conditions and authority approval.