Norway’s Equinor has increased its stake in the Caesar-Tonga oilfield in the US Gulf of Mexico with a $965 million deal that effectively nullifies a conditional agreement the Anglo-Dutch supermajor made last month with Delek Group for the same asset.
State-controlled Equinor will now up its interest in Caesar-Tonga, situated in the Green Canyon area off Louisiana, from 23.55% to 46% after agreeing to take Shell’s entire holding of $22.45%.
