Royal Dutch Shell, through its subsidiary Norske Shell, has entered an agreement with OKEA to divest its 44.56% interest in the Draugen oil field and 12% interest in the Gjoa field for Nkr45bn ($556m).
The Draugen oil field lies in block 6407/9 in the PL093 and PL176 production licences, approximately 140km from Kristiansund off the coast of Norway in water depth of 250m (820ft).
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The Gjoa field lies in the PL 153 production licence in 360m of water, approximately 70km from the Troll field in the Norwegian Sea.
OKEA will become the operator of the Draugen field, following the transaction. The company will fund the acquisition by taking bond loans and through equity sources.
Bangchak Corporation and Seacrest Capital Group together will provide financing to OKEA for the acquisition.
Based in Netherlands, Shell is an oil and gas company, while OKEA is a provider of oil and gas development and production services in Norway.
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By GlobalDataThe acquisition will help OKEA to strengthen its oil and gas asset portfolio in the Norwegian Sea.
Solstad Farstad, through its subsidiary Deep Sea Supply Shipowning I, has divested in the anchor handling tug supply (AHTS) vessel Sea Jackal.
Built in 2011, the Sea Jackal is a Cyprus-flagged AHTS vessel having a dead-weight tonnage of 1,898t and gross tonnage of 1,943t.
Based in Norway, Solstad Farstad provides specialised offshore tonnage to the oil and gas industry.
UK-based oil and gas company Hague and London Oil (HALO) has entered an agreement to purchase oil and gas properties located in the North Sea, UK.
The asset acquisition is expected to increase HALO’s resource base and widen its strategic footprint in the North Sea, UK.
Equinor has completed the acquisition involving 25% non-operated interest in the Roncador oil field located in the Campos Basin, Brazil, from Petrobras for $2bn.
Equinor also paid an additional $550m as contingent payments to boost the recovery from the field.
The partners in the Roncador oil field following the acquisition will be Petrobras (operator, 75%) and Equinor (25%).
Based in Norway, Equinor is a multi-national energy company, while Petrobras is an oil, natural gas, and energy industries operator based in Brazil.
The transaction will enable Equinor to expand and strengthen its position in the Brazilian gas market.
US-based independent oil and gas company Cox Oil has entered an agreement to acquire Energy XXI Gulf Coast (EGC) for $322m in cash.
Cox Oil will make the acquisition through its wholly owned subsidiary MLCJR.
The target company is involved in the development, exploitation and acquisition of oil and gas assets located offshore US Gulf coast. The oil and gas assets lie in water depths less than 1,000ft in the Gulf of Mexico.
The acquisition is expected help Cox Oil strengthen its business operations in the Gulf of Mexico.
Akastor (previously Aker Solutions) has entered a share purchase agreement with Mitsui & Co and Mitsui OSK Lines (MOL) to divest its 50% stake in AKOFS Offshore for $142.5m.
Akastor will retain a 50% stake in AKOFS Offshore, while Mitsui and MOL will each own 25% interest.
All the entities involved in the transaction are expected to form a joint venture (JV) for the development of AKOFS Offshore’s business.
Akastor is a Norwegian oilfield services company, while Akofs Offshore, also based in Norway, provides vessel-based subsea well construction and intervention services to the oil and gas industry.
Mitsui & Co is a general trading company based in Japan, while Mitsui OSK Lines (MOL), also based in Japan, is a transport company.
