Equinor and Chevron have completed their transaction announced in October 2018, whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank Project in the West of Shetland region of the UK Continental Shelf.
The Rosebank field was discovered in 2004 and lies about 130 km northwest of the Shetland Islands. The other partners in the field are Suncor Energy (40%) and Siccar Point Energy (20%). The Rosebank field is an intra and sub-basalt four-way inversion structure. The reservoir consists of siliciclastic fluvial and shallow marine sandstones. Despite close proximity to volcanic lithologies the siliciclastic sandstones display very good reservoirs properties with permeability in the Darcy range and porosity values ranging from 19 to 23%.
The field is estimated to hold potentially up to 240 million barrels recoverable oil equivalent. Read more on the geology of the Rosebank field in “Equinor majority owner“.
Rosebank is located in one of the harshest environments on the UKCS and if sanctioned, will be the first UK field developed in a water depth of more than 1,000 metres, according to WoodMackenzie.
The acquisition of Rosebank further strengthens Equinor’s UK upstream portfolio which includes the Mariner development, expected to start commercial production during the first half of 2019.