Big guns boost UK North Sea commitments
Shell and Equinor have bolstered their offshore presence in the UK, while Total has made a sizeable discovery
Chevron may be divesting its North Sea assets, but other international oil companies are filling the gap, as the allure of the maturing UK continental shelf (UKCS) is kept alive by new discoveries. Chevron said back in July that it wanted to divest most of its North Sea assets, so the announcement on 1 October that it was selling its 40% stake in the Rosebank project to Equinor wasn't too much of a surprise. The US major is also reportedly in the process of selling its last remaining exploration holding in Norway—a 20% stake in the PL859 license in the Barents Sea—to Norway's DNO. Equinor, which replaces Chevron as operator of Rosebank, says it hopes to build on its experience of cost-cuttin
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