Equinor Brings Shell Into $14 Billion Bay du Nord Project

Shell has agreed to acquire a 30% stake in Equinor’s Bay du Nord offshore oil project in Canada, bringing a new partner into the estimated C$14 billion development.

The project, located in the Flemish Pass Basin off the coast of Newfoundland and Labrador, is expected to produce around 200,000 barrels of oil per day at peak production.

The deal is subject to regulatory approvals and finalization of transaction documents.