Expro wins contract for Breagh field in southern North Sea

Oilfield services company Expro secured a contract to provide well-testing services for petrochemicals, specialty chemicals, and oil products manufacturer INEOS.

The scope of works under the two-year contract includes testing services for two new drills and one for re-entry at the Breagh Alpha Platform as part of the Southern North Sea (SNS) Development Programme.

As part of the contract, Expro has the option to extend for a further two wells.


Talos Energy and Stone Energy to merge in $2.5bn deal

Talos Energy and Stone Energy agreed to combine their businesses in an all-stock transaction valued at $2.5bn to create a new offshore-focused exploration and production company.

The combined company will be named ‘Talos Energy Inc’ and will have an estimated 2017 average daily production of approximately 47Mboe and proved reserves of 136Mboe.

Under the agreement, each outstanding Stone common stock share will be exchanged for one share of Talos Energy Inc common stock.


Sparrows gets contract for Chrysaor’s assets in UK North Sea

Sparrows Group secured a three-year contract to provide crane management services for Chrysaor’s three operating assets in the UK North Sea.

Chrysaor will take ownership of the assets later this month from Shell.

Earlier this month, the company closed the acquisition of an asset package in the North Sea from Shell, in a deal valued at $3bn.


Shell completes Woodside divestment with $2.7bn share sale

Shell disposed its entire stake in Australia’s oil and gas company Woodside Petroleum to equity investors for a sum of $2.7bn as a part of its current divestment programme.

The company’s subsidiary Shell Energy Holdings Australia (SEHAL) signed an initial agreement with two investment banks to sell 71.6 million shares in Woodside at a price of $23.79 per share, amounting to total pre-tax proceeds of nearly $1.7bn.

SEHAL then later agreed to sell its entire 13.28% stake, or 111.8 million shares, in Woodside for total pre-tax proceeds of $2.7bn.


Mitsui to form JV for FSRU project in Pakistan

Japanese company Mitsui & Co signed an agreement to form a joint venture (JV) with BW Group in order to establish joint ownership of the floating storage and regasification unit (FSRU) ‘BW Integrity’, which is set to operate in Pakistan.

The transaction will see Mitsui & Co acquire a 49% stake in the JV and is expected to conclude after the completion of payment for the purchase.

The deal represents Mitsui’s first FSRU project. The newly formed JV is expected to lease the BW Integrity to PGP Consortium (PGPC) under a long-term agreement.


OMV secures drilling permit for new well in Norwegian Sea

OMV (Norge) received a drilling permit from the Norwegian Petroleum Directorate (NPD) for well 6506/11-10 within production licence 644 B, which is located in the Norwegian Sea.

The permit was provided under Section 8 of the Resource Management Regulations.

The area in the licence also includes a part of block 6506/11-10. The well will be the first of its kind to be drilled within the licence.


Aker BP enters two offshore drilling alliances

Norwegian company Aker BP signed two separate five-year agreements to form drilling and well alliances in a bid to increase productivity, quality, flow and time efficiency throughout the value chain.

The company has formed one alliance with Maersk Drilling and Halliburton for jack-ups, while the other alliance agreement was signed with Odfjell Drilling and Halliburton for semi-submersibles.


OGA releases UKCS seismic data to encourage exploration activity

The UK’s Oil and Gas Authority (OGA) released the results of the £20m government-funded seismic programme that includes under-explored areas of the UK Continental Shelf (UKCS).

The dataset comprises nearly 19,000km of newly acquired broadband seismic data, new gravity and magnetic surveys, almost 23,000km of reprocessed legacy seismic information and a rejuvenated set of digital well data.

It is expected to encourage exploration activity in the region and support the 31st Offshore Licensing Round, which is currently scheduled for the middle of next year.


Statoil to acquire Total’s stake in NCS assets for $1.45bn

Statoil signed an agreement to acquire Total’s equity stakes in the Martin Linge field (51%) and the Garantiana discovery (40%) located on the Norwegian continental shelf (NCS) for a sum of $1.45bn.

Statoil will also takeover the operatorships of both assets, as well as assume employment of the associated Total staff in accordance with the applicable legislation under the deal.

In addition, Statoil will also procure the remaining tax balances as a result of the transaction, which comprises a nominal post-tax value of more than $1bn.


ExxonMobil starts production from Hebron Field

ExxonMobil started production from the Hebron project situated roughly 350km off the shore of Newfoundland and Labrador in Canada.

The Hebron field was initially discovered in 1980 and is expected to produce up to 150,000bpd of oil at its peak level.