Equinor has agreed to boost its ownership in two major UK North Sea assets with an $850 million agreement to acquire Suncor Energy's UK business.

The acquisition will see the Norwegian giant Equinor increase its interest by 29.89% in the producing Buzzard oilfield and by 40% in the under-development Rosebank oilfield.

Equinor on Friday said the transaction will add 15,000 barrels of oil equivalent per day in equity share production in 2023 and create synergies with its existing operations.