Petróleos Mexicanos' (Pemex) Board of Directors unanimously voted to sell its 7.86% stake of Spanish oil company Repsol, the state-owned firm announced 4 June. Pemex expects to net US$900 million as a result of its decision, selling the shares for $27…
Singapore-based marine and offshore engineering firm Sembcorp Marine has agreed entered to buy a 12% stake in Norwegian firm GraviFloat for US$4 million, with a right to increase its stake up to 20%. GraviFloat was formed to design, deliver and operate re-deployable…
The topsides for the Golden Eagle area development (GEAD) are nearing final assembly in the UK North Sea, 43mi. (70km) northeast of Aberdeen. The project is operated by Nexen Petroleum, a wholly-owned subsidiary of CNOOC Ltd. GEAD involves three fields: Golden Eagle…
Hungary’s MOL Group is eyeing North Sea operatorship and has deep enough pockets to do it. Elaine Maslin spoke to exploration director Alex Dodds (pictured). Hungary’s MOL Group is aiming to double its production within at least five years and then double it again after that…
Maersk Oil UK has been given approval from the UK and Norwegian authorities to develop the Flyndre and Cawdor fields. The fields lie about 293 km south east of Aberdeen in UK North Sea Blocks 30/13 and 30/14 (Flyndre and Cawdor) and Norwegian North Sea Block 1/5 (Flyndre only)…
Total will exit the Shah Deniz field, following an agreement the French explorer reached with Turkish state-owned oil company TPAO. Total will sell its 10% interest in Azerbaijan field and associated South Caucasus pipeline for US$1.5 billion…
VNG Norge is to start a second sidetrack well to further assess potential at the Norwegian Sea Pil discovery after successful results were announced from an initial side-track appraisal well earlier this week. The second side-track well…
W&T Offshore Inc. subsidiary, W&T Energy VI, acquired Woodside Energy's deepwater Gulf of Mexico assets for US$51 million, the company announced on 20 May 2014. The transaction includes a 20% non-operated working interest in the producing Neptune field (Atwater Valley Blocks 574…
OAO Yamal LNG closed on a contract to supply China National Petroleum Corporation (CNPC) 3mtpa LNG annually for 20 years from the Yamal LNG project in the Russian Arctic, according to Yamal LNG majority shareholder OAO Novatek. CNPC bought…
UK-based Sterling Resources completed 800sq km of new 3D seismic in the Romanian Black Sea. The company's 1Q result, issued yesterday, discusses three major milestones in derisking its Romanian assets: - In early February, Sterling…
Drilling rig giant Transocean says it has picked up new contracts worth about US$953 million since 17 April. Giving its fleet update report, the firm said other highlights include: Dhirubhai Deepwater KG1 drillship - Awarded a three year contract offshore Brazil at a dayrate of $440…
Falklands-focused Rockhopper exploration has outlined plans to take over Mediterranean and North Africa-focused Mediterranean Oil & Gas in a cash and shares deal. The deal comes as Rockhopper looks to re-focus its portfolio after being…
Houston-based Hercules Offshore has signed a five-year drilling contract with Maersk Oil North Sea UK for a newbuild jackup rig to be owned and operated by Hercules Offshore. The new Friede & Goldman JU-2000E design jackup will be built…
Operator Maersk Oil is to use a new standalone installation to develop the ultra-high-pressure, high-temperature (uHP/HT) Culzean gas field in the central North Sea about 145 miles east of Aberdeen. The field, one of the largest gas discoveries of recent years in the UK North Sea…
Drilling on the deepwater Welwitschia-1 prospect in Walvis Bay, offshore Namibia, might be delayed until the end of May after the wellhead housing “slumped” and issues with the blow out preventer (BOP) control system were discovered. Operator…
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