By Kari Lundgren and Christian Wienberg (Bloomberg) — Norway’s Equinor ASA agreed to buy Suncor Energy UK Ltd. for $850 million, adding to its oil and gas production in the North Sea as Europe races to replace Russian supplies. Since Moscow’s invasion of Ukraine a year ago, Equinor’s importance to Europe has never been greater as the region seeks alternative sources of energy. The firm is now using its vast profit from last year a result of flat-out production and soaring gas prices to boost capacity as well as reward shareholders. The transaction gives Equinor a 30% non-operated stake.
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(Reuters) - Oil and gas producer EnQuest Plc on Thursday said it signed an agreement to purchase a 26.7% equity interest in the Golden Eagle development in the UK North Sea for an initial consideration of $325 million.
The London-listed company said the agreement to purchase Suncor Energy UK Ltd s entire non-operated equity interest in the Golden Eagle area will add immediate material production and cash flow. (Reporting by Shanima A in Bengaluru; Editing by Bernard Orr)