Baron Oil plans to acquire 15% interest in Licence P2235 from UK-based oil and gas company Corallian Energy, under a farm-out agreement.
Located off the north-east shore of Scotland in the North Sea, UK, the Licence P2235 contains the Wick Prospect.
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Baron Oil will finance 20% of the drilling cost of the first well planned to be drilled at the Wick Prospect.
The company has concurrently signed another farm-out agreement with Corallian Energy to acquire 5% interest in Licence P1918.
Located in the UK continental shelf, the Licence P1918 contains the Colter Prospect.
Baron Oil will fund 6.67% of the costs of drilling a well in the licence, as well as 5% back costs unrelated to the well, which approximate to £0.425m ($0.59m).
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By GlobalDataThe transactions are expected to strengthen the UK-based oil and gas exploration company’s oil and gas assets base in the UK North Sea and the UK continental shelf.
Energean Oil & Gas has signed a credit facility agreement with Morgan Stanley, Natixis, Bank Hapoalim and Societe Generale to raise $1.2bn for the development of the Karish field.
The four banks will be funding the development of the field over the next three years.
Energean has concurrently signed a deal with Technip FMC to build a floating production storage and offloading (FPSO) vessel for $1.36bn.
Energean is an exploration and production company based in Greece.
Norwegian oil and gas company Wintershall Norge has signed two subsea contracts totalling $230m with Aker Solutions and Subsea 7 Norway for the development of the Nova field located in the Norwegian North Sea.
Aker Solutions will deliver and install subsea production system (SPS), while Subsea 7 will be responsible for the designing, procurement and installation of four pipelines linking the Nova field to the Gjøa platform.
