Suncor Energy Inc is raising its stake in Syncrude project to 17% by acquiring an additional 5% interest in Syncrude Canada Ltd, a subsidiary of Murphy Oil Corporation.
The deal implies a total value of $740.59m, and is scheduled for completion by the second quarter of 2016.
Owned and operated by Syncrude Canada, the Syncrude project produces crude oil from the oil sands in the Athabasca Oil Sands Region.
Seadrill Limited has concluded the sale of its 8.2% stake in SapuraKencana Petroleum Berhad to improve its cash flows for better managing corporate operations.
The transaction involves disposal of 490 million shares, valued at approximately $195m.
SapuraKencana has appointed Morgan Stanley & CO LLC and Maybank Islamic Bhd as book runners for the deal.
UK-based oilfield well diagnosis specialist, EV has completed the acquisition of Epidote Limited to expand its service portfolio to well integrity software.
Epidote offers multi-finger imager processing software (MIPS) for the oil and gas industry.
The acquisition allows EV to integrate Epidote’s offerings into its existing product portfolio to better serve the requirements of the customers.
