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March 30, 2018updated 28 Mar 2018 4:42pm

Deals this week: Sapura Energy Berhad, Chrysaor Holdings, Spirit Energy

Malaysian oil and gas company Sapura Energy Berhad, through its subsidiary Sapura Exploration and Production, has signed farm-in agreements to acquire stakes in five offshore exploration permits from OMV New Zealand and Mitsui E&P Australia.

Malaysian oil and gas company Sapura Energy Berhad, through its subsidiary Sapura Exploration and Production, has signed farm-in agreements to acquire stakes in five offshore exploration permits from OMV New Zealand and Mitsui E&P Australia.

Situated in New Zealand’s Taranaki Basin, the five offshore exploration permits include PEP 57075, PEP 51906, PEP 60091, PEP 60092 and PEP 60093.

OMV New Zealand is an exploration and production company based in New Zealand and a subsidiary of oil and gas company OMV, while Mitsui E&P Australia is an exploration and production company based in Australia and a subsidiary of Mitsui & Co.

The deal enables Sapura Energy to enter the New Zealand market.

Chrysaor Holdings, through its wholly owned subsidiary Chrysaor Norge, has signed a farm-in agreement to acquire a 15% stake in the PL038D licence from OKEA.

The deal also includes an option for Chrysaor to increase its stake in the licence to 35%.

The PL038D licence lies in the Norwegian North Sea and contains the Grevling oil discovery, which is located south of the Sleipner field and covers an area of 32.73km² (8,087.76 acres).

The partners in the PL038D licence will be OKEA (55%, operator), Petoro (30%) and Chrysaor (15%), following the deal.

Based in the UK, Chrysaor Holdings is an oil and gas company backed by Harbour Energy, while OKEA is an oil and gas company based in Norway and backed by investment firm Seacrest Capital.

The acquisition will enable Chrysaor to enter the Norwegian market.

“Chrysaor Holdings, through its wholly owned subsidiary Chrysaor Norge, has signed a farm-in agreement to acquire a 15% stake in the PL038D licence from OKEA.”

UK-based oil and gas company Spirit Energy has signed an agreement to divest its stakes in the Armada, Maria and Seymour fields located in the UK North Sea to Chrysaor Holdings. The deal is expected to be completed by the second half of 2018.

The Armada field is located 250km north-east of Aberdeen and comprises three fields namely Drake, Hawkins and Fleming. The Seymour gas field lies 251km north-east of Aberdeen, while the Maria field lies in Block 16/29a of the UK North Sea.

Chrysaor Holdings is a UK-based oil and gas company backed by Harbour Energy, a company that owns and operates upstream and midstream energy assets based in the US.

The acquisition will strengthen Chrysaor’s oil and gas asset portfolio in the UK.

Saipem has entered an agreement to acquire the 3,000t pipelay and heavy-lift vessel Lewek Constellation for $275m.

Based in Italy, Saipem is a provider of construction and offshore and onshore drilling services.

The transaction will enable Siapem to strengthen its subsea business.

China National Petroleum (CNPC), through its subsidiary PetroChina, has signed agreements to acquire stakes in two concession areas located off the coast of Abu Dhabi from Abu Dhabi National Oil Company (ADNOC) for AED4.3bn ($1.17bn).

CNPC secured 10% interest in the Umm Shaif and Nasr concession for AED2.1bn ($575m) and 10% interest in the Lower Zakum concession for AED2.2bn ($600m).

Following the transaction, the partners in the Umm Shaif and Nasr concession will be ADNOC (60%), CNPC (10%), Eni (10%) and Total (20%), while the partners in the Lower Zakum concession will be ADNOC (60%), CNPC (10%), ONGC Videsh (10%), INPEX Corporation (10%), Eni (5%) and Total (5%).

ADNOC is an oil and gas company based in the UAE, while CNPC is an oil and gas company based in China.

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