United Oil & Gas has announced the acquisition of a 10% interest each in three UK-based oil and gas licences from Corallian Energy Ltd through a farm-in agreement.
Licences include P198 off the UK coast, with PEDL330 and PEDL345 being onshore.
The licences are currently owned by Corallian Energy with 60% and Corfe Energy Limited having 40%. Ownership will change upon completion of the transaction to Corallian Energy with 50%, Corfe Energy having 40%, and United Oil with 10%.
Under the agreement, United Oil will bear 13.33% of the drilling cost associated with Colter well located in the P1918 license. The well is being drilled at an estimated cost of £7m ($9.64m).
The deal will strengthen United Oil’s oil and gas portfolio in the UK.
Teekay Offshore Partners intends to raise $115m through the issue of 4.6 million Series E fixed-to-floating rate cumulative redeemable perpetual preferred units priced at $25 each in a public offering.
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The units yield a dividend rate of 8.875 a year and represent a limited partner interest.
Teekay Offshore Partners is an offshore oil industry service and transportation provider based in Bermuda.
Proceeds from the deal are intended to be used by Teekay Offshore for general partnership purposes.
Assets being purchased are located offshore Nigeria.
Akpo and Agbami fields hold gross proved and probable reserves of 338 million and 594 million barrels of liquids respectively.
The deal will strengthen the oil and gas asset portfolio of Lukoil, while proceeds from the transaction will be used by Petrobras to repay its debts.
James Fisher Subsea Excavation (JFSE) has formed a joint venture (JV) with Ocean Team Asia-Pacific (OTAP) to provide high-quality services to its clients based in China.
The JV will also provide equipment maintenance services in the country.
James Fisher Subsea Excavation is a UK-based provider of subsea excavation, while Ocean Team Asia-Pacific is a provider of vessel and marine equipment for offshore projects in China.
Alcatel Submarine Networks has signed an agreement with Statoil to provide permanent reservoir monitoring (PRM) services for the Johan Sverdrup field in offshore Norway.
Statoil will use optical fibre technology to record changes in the subsea conditions of the field and make a plan for the field operations. The technology is expected to optimise hydrocarbons recovery from the field.
Based in the UK, Alcatel Submarine Networks is a provider of submarine networks products and services. Statoil is a Norwegian oil and gas company.
Petrobras has sold 35% of its rights and operatorship in the Lapa field located in Block BM-S-9A in the Santos Basin to Total as part of a strategic alliance.
The transaction involved an investment of $1.95bn, including closing adjustments.
The deal involved Petrobras transferring 22.5% of its rights in the Iara area, comprising the Sururu, Berbigão and Oeste de Atapu fields in Block BM-S-11A in the Santos Basin.
Total intends to expand its oil and gas portfolio in Brazil through the alliance.
Petrobras is an oil and gas company based in Brazil, while Total is a French oil and gas company.
Gulf of Suez Petroleum Co (GUPCO) has signed two contract extensions with ADES International Holding.
One deal involved extending its contract by three months for jack-up barge Admarine II in the Gulf of Suez, while the other deal comprised extending its contract by six months for jack-up rig Admarine IV.
GUPCO is a joint venture between BP and Egyptian General Petroleum Co (EGPC).