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Shell has agreed to acquire gas assets in offshore Trinidad and Tobago from Centrica plc for an initial consideration of $30m.

Acquired through its subsidiary Shell Exploration & Production Company Inc, the deal will include the transfer of a 17.3% stake in the producing North Coast Marine Area-1 (NCMA-1) Block, 80% operated interest in the undeveloped NCMA-4 Block, and 90% operated stake in the undeveloped Block 22.

Under the agreement, Centrica will also receive further payments once the Block 22 and NCMA-4 reach agreed project milestones.

Scheduled for completion in the first half of 2017, the transaction will increase Shell’s gas assets base in Trinidad and Tobago.

BP has completed the acquisition of a 40% stake in the north of P2062 licence west of Shetland, UK North Sea, and also gained a 30% interest in the licence’s southern area from Nexen Energy ULC.

"The field is estimated to hold 30 trillion cubic feet of gas."

Nexen still remains operator of the licences following the acquisition, which enables BP to strengthen its oil and gas assets portfolio in the UK North Sea.

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By GlobalData

In addition, BP has agreed to buy a 25% stake in P2097 and P2275 licences, and 40% stake in the nearby P2163 and P2147 licenses in the UK Continental Shelf (UKCS) from Statoil ASA.

Through its subsidiary IEOC, Eni SpA is planning to sell an additional 35% stake in the Shorouk Concession, including Zohr gasfield in the Mediterranean Sea, offshore Egypt.

Zohr gasfield covers approximately 100km² in the deepwaters of the Mediterranean Sea. Located around 190km north of Port Said, the field is estimated to hold 30 trillion cubic feet of gas and expected to come online in late-2017.

Eni has also agreed to sell a 10% interest in the Shorouk Concession to BP for $375m. Eni currently holds a 100% stake in the concession and eventually plans to reduce its stake to 50%.

Africa Energy Corp has agreed a $6.5m acquisition of 10% stake in Petroleum Exploration License 37 (PEL 37) in the Walvis Basin, offshore Republic of Namibia, from a subsidiary of Pancontinental Oil & Gas NL.

The PEL 37 extends across an area of 17,295km² in the Walvis Basin, at water depths totalling 1,800m.

Upon completion of the transaction, the licence will be owned by Tullow Kudu (65%, operator), Pancontinental (20%), Africa Energy (10%) and Paragon Oil (5%).

The deal will allow Africa Energy to extend its oil assets portfolio in offshore Namibia.