ConocoPhillips has entered an agreement to sell its 30% stake in the Greater Sunrise fields in the Timor Sea to the government of Timor-Leste for US$350 million. Matt Fox, the company’s executive vice president Strategy, Exploration and Technology, said the deal was mutually beneficial….
Chevron has agreed to sell its 40% operated interest in the deep-water Rosebank project west of Shetland to Equinor, for an undisclosed price. Rosebank, discovered in 2004 around 130 kilometres (80.1 miles) north-west of Shetland in water depths of around 1,110 metres (3,609 feet), is…
Neptune Energy has closed the purchase of VNG’s Norwegian subsidiary VNG Norge for an undisclosed price. The deal was announced on the 28th June, and completed on Friday, the 28th September. With the acquisition, Neptune will get hold of three producing fields, two development…
Oil Minister Jabar Ali al-Luaibi has announced the resumption of production at Qayara oil field in Nineveh province. The field has been rehabilitated following its destruction by the Islamic State group (IS, ISIS, ISIL, Daesh). It is currently producing 30,000 barrels of oil…
The US has issued an interim licence to nullify restrictions on production from a UK North Sea field. The licence from the US Office of Foreign Assets Control (Ofac) relates to the Rhum field, which is being sold to Serica Energy by BP. Rhum…
Husky Energy has announced a proposal to acquire all of the outstanding shares of MEG Energy Corporation for implied total equity consideration of approx.C$3.3 billion (US$5 billion). This proposal values MEG at an implied total enterprise value of C$6.4 billion, including the assumption of…
The US Bureau of Safety and Environmental Enforcement released updated offshore oil and gas production safety and environmental regulations which it says reduce unnecessary regulatory burdens while ensuring that operations remain safe and environmentally responsible. The new rule becomes effective 60 days after its…
The technology group Wärtsilä has released a new solution, GridSolv, the company’s first standardised energy storage solution. GridSolv is an advanced energy storage solution which is designed to offer maximum flexibility and speed of deployment. This innovative and standardised architecture supports both stand-alone energy…
Qatar will generate US$40 billion in additional export revenue once it competes its natural gas expansion project in 2024. Rising income from sales of liquefied natural gas will leave the government with a budget surplus of about US$44 billion in 2024, with the bulk…
Austria’s OMV has said production has started from the Umm Lulu and SARB (Satah Al Razboot) fields offshore the UAE. The oil firm said the production level shows an initial capacity of 50,000 barrels per day (10,000 barrels per day net to OMV), which…
