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September 14, 2018

Deals this week: Veolia-Peterson JV, EnQuest, Aker BP

The Veolia-Peterson JV has been subcontracted by Allseas to provide decommissioning services in the North Sea.

The Veolia-Peterson JV has been subcontracted by Allseas to provide decommissioning services in the North Sea.

The company will remove and dispose of the drilling, accommodation and production topsides weighing 12,600t of a steel platform in a single lift, under the engineering, preparation, removal and disposal contract.

Veolia-Peterson is a joint venture between UK-based Veolia ES and Peterson UK, while Allseas is a Switzerland-based heavy lift and pipelay contractor for the offshore industry.

EnQuest has announced a rights issue to raise $138m.

The company plans to use the proceeds to purchase the remaining 75% stake in BP’s Magnus oil field.

The Magnus field is located north-east of the Shetland Islands in North Sea, UK. EnQuest previously acquired a 25% stake in the field in 2017.

“The exploration and development activities are expected to benefit the oil refineries and pipelines of Uganda.”

The rights issue will also enable EnQuest to fund the drilling of two infill development wells in the Magnus field in 2019.

Both the companies involved in the transaction are UK-based oil and gas companies.

Aker BP has awarded a one year contract to Maersk Drilling to provide its Maersk Integrator jack-up rig to carry out drilling operations at the Ula field in the Norwegian shelf.

The Maersk Integrator is an XL Enhanced ultra-harsh environment jack-up rig that is currently deployed at the Gina Krog field and will be moved to the Ula field in June 2018.

Based in Norway, Aker BP is an oil and gas exploration and development company, while Maersk Drilling is a Danish drilling rig operator.

The Uganda National Oil Company (UNOC) and China National Offshore Oil Company (CNOOC) have signed a memorandum of understanding for the joint exploration and development of oil blocks located in the Albertine Graben oil belt of Uganda.

The Albertine rift basin is estimated to contain approximately 6.5 billion barrels. Uganda plans to commence production from the basin in 2021.

The exploration and development activities are expected to benefit the oil refineries and pipelines of Uganda.

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