BP (BP) will sell its non-operated interest in the Bay du Nord offshore oil production project to Norwegian petroleum refiner Equinor (EQNR), the oil giant said Monday.

Financial terms were not disclosed.

The Bay du Nord project is located approximately 500 kilometers (311 miles) offshore Newfoundland and Labrador, Canada.

BP said it will still hold a 100% interest in two exploration licenses offshore Newfoundland and Labrador.