Viaro Energy's subsidiary RockRose Energy has struck a farm-in agreement with Hartshead Resources, to acquire a 60% working interest in Production Licence P.2607 containing the Anning and Somerville fields in the UK North Sea. Hartshead will retain a 40% working interest in the offshore license.The project is a phased redevelopment of gas fields located in the Southern Gas Basin. Phase 1 will see the development of the Anning and Somerville fields…
Norwegian energy company Equinor has entered into a ten-year strategic collaboration agreement with the offshore engineering and construction firm Aibel.'The ten-year agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities…
Anglo-French oil company Perenco has shut its Cap Lopez oil terminal near Port Gentil in Gabon after a storage tank leaked more than 300,000 barrels of oil, it said in a statement.The oil, which amounts to more than Gabon's daily crude output…
Oilfield services giant Baker Hughes has agreed to acquire Norway-based well intervention specialist Altus Intervention.The company said the acquisition of the well intervention services and down-hole oil & gas technology company, complemented…
TotalEnergies and Inpex have agreed to sell their Angola Block 14 B.V. subsidiary to the Angolan Company Somoil for an undisclosed price.Angola Block 14 B.V., owned by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49…
China's offshore oilfield cluster Bohai, run by state-run CNOOC Ltd, has become the country's largest crude oil producer with output hitting 30.132 million tonnes (602,640 barrels per day) in 2021, state news agency Xinhua reported.Bohai field…
UK-based offshore well plug and abandonment company Well-Safe Solutions has appointed Chris Hay as Director of Strategy and Business Development.'Chris brings over 16 years of energy industry experience to Well-Safe Solutions, with the majority…
A deadly accident on an offshore platform belonging to Mexican state oil company Pemex 'may slow' the company's production growth rate, ratings agency Fitch said in a statement on Tuesday, after officials confirmed a sharp hit to output.The…
Strohm, a business that specializes in composite pipe technology, announced on Thursday that it had opened a new office in Rio de Janeiro and that it was establishing a center of excellence for developing its Thermoplastic Composite Pipe (TCP)…
Malaysian oil and gas company Hibiscus Petroleum has confirmed it has agreed to buy Repsol’s interest in oil and gas assets in Malaysia and Vietnam for $212.5 million.The announcement comes after Repsol earlier this week announced the sale to Hibiscus…
Brazil's Petrobras produced 2.196 million barrels of oil a day in the first quarter, the state-run company said on Tuesday, an increase from the fourth quarter, but a decline in yearly terms.Petroleo Brasileiro SA, as the company is formally known…
Brazilian oil company PetroRio has received regulatory approval to acquire a 30% stake in the Frade oil field in the Campos Basin offshore Brazil from Petrobras.The company expects that the procedures for the assignment of 30% interest to PetroRio will be completed in the upcoming days…
Romanian oil and gas firm OMV Petrom said Monday it had started drilling two new development wells in the shallow waters of the Istria block, in the Black Sea.The first drilling operations started at the end of December 2020 and the drilling…
French oil major Total has struck a deal with Perenco to sell its interest in seven offshore oil fields in Gabon.Total said Thursday that its 58% owned affiliate Total Gabon had signed an agreement with Perenco to divest its stakes in seven mature non-operated offshore fields…
'The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three-quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11…
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