The Globe and Mail reports in its Saturday, Oct. 10, edition that Shell Canada will buy a 30-per-cent interest in the Bay du Nord oil project off Newfoundland from Norway's Equinor. A Canadian Press dispatch to The Globe reports that Equinor is expected to decide early next year whether to proceed with what would be Canada's first deepwater oil development. The news comes three months after BP said it had signed a deal to sell its 37.2-per-cent interest in Bay du Nord to Equinor. BP said the sale was part of a larger strategy to simplify its global portfolio. Shell and Equinor did not provide details about the terms of their deal, including the purchase price. Bay du Nord is located in an area called the Flemish Pass Basin, about 500 kilometres off the East Coast of St. John's, where the water is up to 1,170 metres deep. It would be farther away from shore than any other offshore oil project on the globe. Equinor expects to extract an estimated 400 million barrels of oil during the first phase of the development. First oil is expected in 2031. On Sunday, Suncor said it was selling its interest in the Terra Nova, White Rose and West White Rose developments off the coast of Newfoundland for $1.2-billion in cash.