Equinor ASA (OB:EQNR) is preparing to sell a 20% stake in its Rosebank oil development in the British North Sea, which could fetch about $1.5 billion, two industry sources said. The Norwegian energy giant is seeking to sell a quarter of its 80% stake in the project, the sources told Reuters. The British government gave Equinor and partner Ithaca Energy plc (LSE:ITH) the go-ahead on September 27 to develop Rosebank, the biggest new project in the ageing basin for years.

The stake could fetch about $1.5 billion, though the final value depends on oil prices and the structure of the deal, the sources said. Equinor declined to comment.