EnQuest has signed an agreement with Suncor Energy UK Limited  to purchase Suncor’s entire 26.69% non-operated equity interest in the Golden Eagle area, comprising the producing Golden Eagle, Peregrine and Solitaire fields (‘the Transaction’) for an initial consideration of US$325 million. HIGHLIGHTS Adds immediate incremental production of c.10 kboepd, c.18 MMbbls to net 2P reserves […]

Vantage Drilling International has announced  that its ultra-deepwater drillship, the Platinum Explorer, has received a letter of award for a two-year contract from Oil and Natural Gas Company (ONGC). The Platinum Explorer is currently performing under an existing three-year contract with ONGC, which is expected to conclude in the second quarter of 2021. The new contract with ONGC […]

In October 2020 Turkey’s President, Recep Tayyip Erdoğan stated that the Sakarya Gas Discovery in the southern Black Sea may have established contingent resources of 405 Bcm (14.3 Tcf) of gas. Turkish media recently reported the completion of the Türkali-1 appraisal well, which was drilled 4km to the northwest of the Tuna-1 discovery well. The […]

Shell a global integrated exploration and production company has released its financial and operational year report for the fourth quarter 2020. Integrated gas and new energies LNG realised prices significantly below Q4 2019, with some recovery seen during the quarter. Average trading and optimisation results. Lower opex driven by lower operations and maintenance costs as […]

In support of development of offshore “geoenergy” resources, stena and bcarbonx have entered in offshore decarbonisation exploration drilling technology as a new, innovative, and sustainable enabler of the energy transition. The companies will work together to engineer solutions to discover and develop subsurface assets for combinations of geothermal energy, molecular energy storage, and carbon sequestration. […]

Maersk Drilling has secured an additional two-well contract for the low-emission rig Maersk Integrator with Aker BP. The plan is that in direct continuation of the rig’s previously announced work scope with a different operator, Maersk Integrator will return to Aker BP’s Ivar Aasen field for a two-well campaign expected to commence in Q3 2021. The […]

The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest U.S. oil producers in what would have been the biggest merger of all time, according to people familiar with the matter and as reported by Reuters. The discussions, which are no longer active, are […]

Rosneft Oil Company and bp have signed a Strategic Collaboration Agreement focused on ‎supporting carbon management and sustainability activities of both companies. The agreement ‎builds on years of partnership between the two companies and formalises key elements of their ‎collaboration on sustainability and work to identify carbon reduction activities and low carbon ‎opportunities.  Based on […]

AqualisBraemar’s ports & harbour unit has successfully completed its two-year involvement with the development of Sub-Saharan Africa’s first floating LNG import terminal.  The LNG terminal, located in Ghana, recently received a Floating Regasification Unit (FRU) that will shortly enable it to offer services to LNG carriers. Tema LNG Terminal Company, (TLTC), established by Helios Investment […]

The Weir Group has completed the sale of its Oil & Gas division to Caterpillar Inc. The sale, for an enterprise value of $405m, subject to customary working capital and debt-like adjustments, was first announced on 5 October 2020 and approved by Weir Shareholders on 23 November 2020.  Since then, the Group’s joint venture partner […]