Equinor has agreed to sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to EnQuest.
“This transaction supports Equinor’s strategy to continually optimise our portfolio. We welcome EnQuest as the new operator of Bressay and believe the knowledge and experience both parties can share from our existing Mariner and Kraken developments will further strengthen the project,” says Arne Gürtner, Equinor’s senior vice president for UK & Ireland offshore.
The Bressay oil field was discovered east of Shetland in 1976 and Equinor became operator in 2007. The concept selection for the field development was deferred in 2016 due to challenging market conditions and the need to simplify the development concept.