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Equinor: final investment decision for Rosebank

( - On Wednesday Equinor and its partner Ithaca Energy announced that they have made their final investment decision, to the tune of $3.
8bn, for the Rosebank project, located on the British North Sea continental shelf.

The oilfield, which lies 130 kilometres northwest of the Shetland Islands in water depths of around 1,100 metres, is scheduled to come on stream in 2026 or 2027.

Its resources are estimated at around 300 million barrels, including 245 million in the first phase of the program alone.

TechnipFMC has been awarded the engineering, procurement and construction (EPC) contract for the design of the platform and the supply of pipelines, umbilicals and subsea structures.

Meanwhile, Equinor says that it currently supplies 29% of the gas consumed in the UK and almost 15% of its oil.

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