Shell has agreed to acquire a 30% stake in Canada’s Bay du Nord offshore oil project from Equinor, which retains 70%. Located 500 kilometres off Newfoundland, the C$14 billion development could produce 160,000–175,000 barrels of oil equivalent daily. Production is expected to begin in 2031, subject to a final investment decision planned for early 2027. The purchase price remains undisclosed.
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