Equinor ASA (OB:EQNR) signed an agreement to acquire 40% stake in Rosebank Project on UK Continental Shelf (UKCS) from Chevron Corporation (NYSE:CVX) on October 1, 2018. The transaction is subject to customary conditions, including partner and authority approval, with completion targeted as soon as possible. Simon Tysoe of Latham & Watkins acted as legal advisor to Chevron Corporation. Brodies LLP acted as legal advisor for Chevron.

Equinor ASA (OB:EQNR) completed the acquisition of 40% stake in Rosebank Project on UK Continental Shelf (UKCS) from Chevron Corporation (NYSE:CVX) on January 10, 2019. A cash consideration of $71 million is paid and is subject to final adjustments. The payment of the remaining consideration is subject to certain conditions being met and was reflected at fair value at the transaction date.