Equinor shares rise, acquiring BP stake and NOK 6B contracts

Equinor ASA will acquire BP's 40% non-operated stake in the Bay du Nord project.

The Flemish Pass project holds approximately 400 million barrels in place. Production at the site is anticipated to begin in 2031. This acquisition consolidates Equinor's control over the development.

Equinor also secured NOK 6 billion in contracts for four Norwegian subsea projects. These developments are expected to add between 130 and 220 million barrels of oil equivalent. Equinor's stock rose in NYSE pre-market trading following the announcements.