Shell takes 30 percent stake in Bay du Nord project
Shell has agreed to acquire a thirty percent non-operating interest in Equinor's Bay du Nord offshore oil project in Canada. The transaction supports the project's maturation toward an investment decision expected in early 2027.
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Equinor ASA will sell a 30% non-operating stake in its Bay du Nord project in Canada to Shell PLC, advancing the offshore venture toward a final investment decision. The deal follows BP PLC exiting its 37.2% interest in July from the Flemish Pass basin development. Securing a major partner reduces capital exposure for Equinor while keeping the C$14 billion ($9.84 billion) project on track for first production by 2031.
