In 2007 Chevron and its partners, including DONG Energy, completed a $327 million investment programme to appraise the Rosebank oil discovery West of Shetland. Rosebank was originally discovered in August 2004, when the Rosebank/Lochnagar well (213/27-1Z) made a significant oil and gas discovery located in the Faroe-Shetland Channel, on the Corona Ridge near the UK/Faroes border.

The field partners have carried out a three well appraisal programme, including a production test, on the Rosebank discovery, which lies in approximately 1,000m water depth, some 160 km north-west of the Shetland Islands.

The analysis of the appraisal data is ongoing, to determine the future development work programme for the discovery.