Shell plans to sell its royalty interests in 17 leases in Ewing Bank, Garden Banks, Green Canyon, Main Pass Area, Mississippi Canyon, and Walker Ridge areas in the US Gulf of Mexico.
The leases include 13 producing, three recently producing and one non-producing assets in Mad Dog and Julia fields. The estimated production capacity of the leases is 54,000bopd of oil and 29,000Mcfd of gas.
Royal Dutch Shell has retained EnergyNet.com for the sale of assets through a bidding process.
China Petrochemical Corporation (Sinopec Group) has announced plans to issue senior unsecured bonds, due 29 September 2019. The notes bear a coupon rate of approximately 2.065%.
Its subsidiary Sinopec Group Overseas Development (2016) Limited has appointed book runners for the private placement in Citigroup, Goldman, Sachs & Co, Bank of China Limited, ANZ Bank New Zealand Limited, China International Capital Corporation – Hong Kong Securities Limited, Credit Agricole SA, ING Groep N.V. and UOB-Kay Hian Holdings Limited. The private placement is scheduled for completion on 29 September.
The amount raised from the offering will be used to repay Sinopec’s existing debts and for general corporate functions.
Akastor ASA subsidiary AKOFS Offshore has entered an agreement with DOF Subsea Rederi AS to buy Skandi Santos subsea equipment support vessel.
Skandi Santos is a Norway-flagged vessel built by STX Norway Offshore in 2009.
The transaction is scheduled for completion in the fourth quarter of 2016.
PT Medco Energi Internasional Tbk (MedcoEnergi) has agreed to acquire a 40% stake in South Natuna Sea Block B in South Natuna Sea, Indonesia, from ConocoPhillips.
The block includes five natural gas producing fields and two crude oil production fields at a depth of approximately 300ft.
Upon completion of the transaction, the block will be owned by MedcoEnergi (40%), Chevron (25%) and INPEX (35%).
Scheduled for completion in the fourth quarter of 2016, the deal will increase MedcoEnergi’s daily production capacity by approximately 3%.