Equinor, an energy company, completed the acquisition of a 49% stake in KrasGeoNaC, a Siberian oil and gas exploration company, from Rosneft, a petroleum refining company, for $550m. As part of this agreement, Equinor has redirected its remaining exploration commitments offshore in the Sea of Okhotsk and as such has no outstanding obligations in that area. Pursuant to the 2018 agreement between Equinor and Rosneft to cooperate on health, safety and sustainability, Equinor will collaborate with Rosneft in these areas across the KGN assets.