Tangiers executes farm-out agreement on Australian exploration acreage. Deal gives Tangiers ongoing exposure to the exploration upside while enabling it to focus its resources on acquiring interests in African oil and gas assets
Spanish oil company Repsol has signed an exploration and production agreement with the Government of Guyana. The four-year agreement, signed yesterday, will allow Repsol to search for hydrocarbons in the Kanuku block, approximately 161 km offshore Guyana, the only South American nation in which English is the official language. According to GINA, Guyana’s Government Information Agency, Repsol [...]
Afren has completed a farm-out agreement with Lekoil (subject to Nigerian Ministerial Consent), in respect of a 17.14% participating interest in the OPL 310 licence located offshore Nigeria. Under the terms of the farm out, Afren will receive a total carry of up to US$50 million in respect of an exploration well currently being drilled [...]
Singapore’s EMAS AMC has been awarded a subsea engineering, procurement and offshore construction contract from Statoil for the Smørbukk South Extension’s project offshore Norway. The contract is valued at approximately US$75 million. Discovered in 1985, the Smørbukk South Extension holds estimated recoverable reserves of 16.5 million barrels of oil equivalent, and will be developed with a new subsea template connected [...]
Seadrill and SapuraKencana have today completed the the transaction to integrate Seadrill Limited’s (“Seadrill”) tender rig division into SapuraKencana Petroleum Berhad (“SapuraKencana”) The agreed upon acquisition price is for an enterprise value of US$2.9 billion, which includes cash, SapuraKencana shares, all debt in the tender rig business, and Seadrill’s future capital commitments for newbuilds. The incremental [...]
On April 17, 2013 Rosneft and Marubeni Corporation signed Memorandum of Cooperation in LNG project implementation and joint exploration and development of oil and gas fields. The document was signed by Igor Sechin, Rosneft President and Chairman of the Management Board, and Fumiya Kokubu, Marubeni Corporation President and CEO, Member of the Board. As part [...]
Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a contract worth in excess of U$350 million from Petrobras. The contract is for the operation of the Pipe Lay Support Vessel (PLSV) Kommandor 3000 on a day rate basis for five years. Kommandor 3000 will start operations under the contract in 2013, note that during the year Kommandor 3000 will [...]
KaroonGas Australia pre‐emptive rights WA‐315‐P and WA‐398‐P Karoon Gas Australia Ltd has notified ConocoPhillips of its intention not to exercise its right to pre‐empt the proposed sale by ConocoPhillips of a 20% interest in Browse Basin exploration Blocks WA‐315‐P and WA‐398‐P to Chinese National Petroleum Company (“PetroChina”). By not exercising its pre‐emptive right under the joint venture agreements, Karoon [...]
FMC Technologies, Inc., a U.S.-based provider of subsea systems and services to the global offshore oil and gas industry, announced today that it has signed a five-year agreement with Tullow Ghana Ltd. to provide subsea services for its developments in the Jubilee field. Under the terms of the agreement, FMC Technologies will support Tullow Ghana’s [...]
Singapore’s Keppel today announced that a conditional contract, signed by the company with “Naftogaz of Ukraine” (Naftogaz) last year, for the construction of two semi-submersible drilling rigs will not take effect. The company said in a press release that “the contract will not be taking effect as certain conditions within the timeline set were not met.” [...]
