Noble Energy and its partner Delek Drilling signed agreements to export natural gas from the Leviathan and Tamar fields in Israel to Egyptian firm Dolphinus Holdings in a $15bn deal.
Under the agreements, Dolphinus will receive 1.15 trillion cubic feet of natural gas each from the Leviathan and Tamar fields for a period of ten years.
The buyer is expected to use the natural gas to meet demand from industrial and petrochemical customers, as well as future power generation in Egypt.
Neptune Energy Group increased its footprint in the North Sea region through the €4.7bn acquisition of ENGIE E&P International.
The transaction allows Neptune to become an international independent E&P company with operations across the North Sea, North Africa, and South East Asia. The deal was previously agreed by the companies in May 2017.
Last year, the acquired assets produced 154,000 net barrels of oil equivalent a day.
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Around 400 million additional barrels of oil and gas could be unlocked from the UK Continental Shelf (UKCS) through new subsea technology and approaches to field developments, according to Wood Mackenzie and the Oil & Gas Technology Centre (OGTC).
In an attempt to reduce the cost and time to develop small pools by half, 25 organisations joined the ‘Tie-back of the Future’ initiative, which is expected to help generate £3bn of additional value from the UKCS.
The initiative is being carried out under the leadership of OGTC and features operators, supply chain firms, and technology developers. It is focused on creating a circular economy, allowing reuse of subsea equipment after disassembling.
Environmental groups Greenpeace Nordic and Nature and Youth filed an action to Norway’s Supreme Court to challenge the judgement passed by a lower court in a case against the national government for approving new Arctic oil drilling.
Last month, Oslo District Court dismissed the case made by environmental groups that the government should be held responsible for emissions from oil and gas exported to other countries.
The argument put forward by the environmental groups is based on the claim that Norway’s decision to allow oil exploration in new areas within the Arctic Circle in the Barents Sea through the 23rd licensing round breaches the constitutional right of a citizen to enjoy a healthy environment.
Shell Integrated Gas Thailand and Thai Energy Company agreed to sell a 22.22% stake in the Bongkot field and adjoining acreage in offshore Thailand to PTT Exploration & Production Public Company for $750m.
The deal is expected to be complete in the second quarter of 2018, and involves Shell’s equity in Blocks 15, 16 and 17 and Block G12/48.
After completion of this transaction, PTTEP’s equity in Bongkot will grow to 66.6667%, with the remaining stake owned by Total. Bongkot is operated by PTTEP.
Woodside Petroleum signed an agreement to acquire ExxonMobil’s stake in Scarborough gasfield in the Carnarvon Basin off the coast of Western Australia (WA).
Under the deal, Woodside will acquire an additional 50% interest in WA-1-R, which contains the majority of the Scarborough gasfield.
The transaction will allow the company to have a 75% interest in WA-1-R and a 50% stake in WA-61-R, WA-62-R, and WA-63-R.
UK-based Oil Spill Response (OSRL) signed a letter of cooperation with France’s Centre for Documentation, Research and Experimentation on Accidental Water Pollution (Cedre) to strengthen operational level collaboration, and to increase personnel and knowledge sharing across a range of areas related to spill preparedness and response.
The deal formalises and reaffirms the two organisation’s commitment to maintain high levels of operational cooperation.
Described as primarily operational in nature, the agreement will focus on advancing technology, training, and good practice approaches when dealing with oil spills.
State-owned company Abu Dhabi National Oil Company (Adnoc) signed an agreement to offload a 20% stake in the city’s offshore SARB and Umm Lulu concession to Spanish company Cepsa in a AED5.5bn ($1.5bn) deal.
Under the agreement, Cepsa will have access to the concession for a term of 40 years.
The proposed transaction is in line with Adnoc’s strategy to maximise returns from its resources, expand the downstream business, and retain value for the UAE.
Wärtsilä launched a partnership with drilling contractor Maersk Drilling to create a 25-year thruster maintenance strategy to increase uptime and reduce costs.
The strategy will be applied to Maersk’s three semi-submersible rigs and four drillships.
Already, the companies completed the strategy work on the D-rigs and it is said that work related to V-Drillships has begun.
GE and Noble introduced the world’s first digital drilling vessel, which is intended to improve the efficiency of offshore operations.
Known as Digital Rig, the solution is powered by GE’s Predix platform combines data models from a digital replica of physical assets along with advanced analytics.
The solution has been designed to address the drawbacks associated with human-operated offshore drilling industry, including performance inconsistencies and variance.