McDermott International has been awarded a supply and installation contract by Shell for its Great White Frio development project.
Located in the Alaminos Canyon Block 857 offshore Gulf of Mexico, US, the Great White Frio development project is a part of the Perdido Regional Development. It comprises the development of Silvertip and Tobago fields, along with the Great White Frio field.
The contract includes project management, engineering, supply, and installation of subsea umbilicals and a flexible flowline for connecting the production wells to a pipeline end termination.
McDermott will also install a 2,000ft-long steel flying lead and two electrical flying leads (EFLs) in water depths of 8,000ft.
McDermott is a US-based engineering, procurement, construction and installation company, while as Shell is an oil and gas company based in the Netherlands.
China National Petroleum Company (CNPC) has acquired Total’s 50.1% stake in the South Pars Phase 11 natural gas project in Iran.
The South Pars gas field is located on the maritime border of Iran and Qatar. It is estimated to hold reserves of 14 trillion cubic metres of gas and 18 billion barrels of liquefied natural gas (LNG).
Integrated oil and gas company Total decided to exit from the South Pars gas project in May 2018 following the imposition of US sanctions against Tehran.
CNPC is the national oil and gas corporation of China, while Total is a France-based oil and gas company.
Total and Italy-based oil and gas company Eni have jointly bid for an exploration licence for Block 7 offshore Cyprus in the Mediterranean Sea to the Cypriot energy ministry.
Block 7 is located in the disputed area within the outer limit of Turkey in the continental shelf of Eastern Mediterranean in Cyprus’s exclusive economic zone (EEZ).
The bid for Block 7 is a follow-up of the discovery of hydrocarbon discovery in Block 6, which is operated by Total and Eni in a 50% partnership.
Ineos Oil and Gas and Centrica subsidiary Spirit Energy have completed the re-routing of gas production from the Clipper South Field in the southern part of the UK North Sea in the Sole Pit Area.
The $80m project was undertaken following the shutdown of operations at the Theddlethorpe Gas Terminal by ConocoPhillips in October 2018.
The re-routing project included the installation of a new pipeline, along with subsea infrastructure and gas processing facilities. It will extend the production life of the Clipper South field.
The gas produced from the Clipper South field will be supplied to the Clipper platform and the Bacton Terminal in Norfolk, after commissioning the new pipeline.
Shell has signed a commercial agreement with Ineos and Spirit Energy for the project.
Both parties are UK-based oil and gas companies.
DNO has announced its takeover bid to Faroe Petroleum for £607.9m ($778.5m).
DNO currently holds 105 million shares of Faroe Petroleum representing a 28.22% interest of issued share capital. The company will pay £1.52 for each Faroe share, under the transaction.
DNO is a Norway-based oil and gas operator, while Faroe Petroleum is a UK-based independent oil and gas company.
Santos has completed the acquisition of Quadrant Energy for $1.93bn.
The acquisition will enable Santos to become the leading domestic natural gas supplier in Australia.
The financial advisers for the transaction were UBS and JB North, while the legal adviser was Herbert Smith Freehills.
Both the companies involved in the transaction are oil and gas exploration companies based in Australia.