Deals this week: Petronas, Gassco, ExxonMobil Namibia

17 August 2018 (Last Updated August 16th, 2018 12:21)

Petronas has signed an agreement with Total E&P Senegal to purchase a 30% stake in the Rufisque Offshore Profond block.

Petronas has signed an agreement with Total E&P Senegal to purchase a 30% stake in the Rufisque Offshore Profond block.

Located offshore Senegal, the Rufisque Offshore Profond block covers an area of 10,357km². It has a varying water depth from 100m to 3,00m and lies close to several other prospective oil blocks, including the St Louis Profond, Cayar Profond, and Rusfique Sangomar OffShore Deep blocks.

Total will have a 60% ownership in the block and remain to be the operator, while Petronas will hold a 30% interest and Société Nationale des Pétroles du Sénégal (Petrosen) will hold the remaining 10%, following the transaction.

The acquisition marks Petronas’ entry into Senegal and will enable the company to expand its oil and gas portfolio in West Africa.

Petronas is a Malaysian oil and gas company, while Total E&P Senegal is a subsidiary of French oil and gas company Total.

Gassco has signed an agreement with eVision Industry Software to deploy the latter’s Permit Vision and Shift Vision software solutions across its assets located in the North Sea.

The agreement will enable Gassco to deploy a combined solution for all its operations, including gas transport systems, gas processing plants and gas receiving terminals. The Permit Vision and Shift Vision solutions will be integrated into Gassco existing systems to improve the control over its North Sea operations.

“The acquisition marks Petronas’ entry into Senegal and will enable the company to expand its oil and gas portfolio in West Africa.”

Based in Norway, Gassco is a natural gas pipeline operator, while eVision is a Dutch operational safety software solutions provider.

ExxonMobil Namibia has signed an agreement with Azinam to purchase a 30% interest in the petroleum exploration licence (PEL) 44 located offshore Namibia.

PEL 44 lies in water depths of 300m to 2,500m in the Walvis Basin of Namibia and covers an area of 5,722km².

Azinam will hold a 12.5% interest in the PEL, following the transaction.

PEL operator Maurel & Prom will hold a 42.5% stake, and NAMCOR, Livingstone Mining and Frontier Minerals will respectively hold 8%, 4% and 3%.

ExxonMobil Namibia is an oil and gas subsidiary of the Exxon Mobil Corporation, while Azinam is a Namibia-based oil and gas company that is a part of the Azimuth Group.

Neptune Energy has entered an agreement with Apache North Sea to respectively acquire 35% and 50% interests in the Seagull and Isabella prospects located in the UK Central North Sea.

Development of the Seagull prospect is ongoing with first oil targeted be achieved by the first quarter 2022. The Isabella prospect is considered to be one of the biggest in the central North Sea and is scheduled to be drilled next year.

The acquisition is part of Neptune Energy’s strategy to expand its oil and gas portfolio.

Based in the UK, Neptune Energy is an oil and gas company, while Apache North Sea is a subsidiary of US-based oil and gas company, Apache Corporation.

Aker Solutions and Kvaerner have been contracted by Equinor to carry out additional hook-up and commissioning activities for its Johan Sverdrup field located the offshore North Sea.

The new contract has been awarded through the exercise of an option included in the original contract signed in January 2017.