Aker BP signs deal to gain Hess Norge for $2bn

Aker BP signed an agreement to acquire Hess Norge for $2bn in a bid to strengthen its position in the Norwegian Continental Shelf and improve its production and reserves.

The transaction includes acquisition of Hess Norge’s 64.05% interest in the Valhall field and 62.5% interest in the Hod field and will make Aker BP the sole owner of the two fields.

These two fields produced an average of 26,000boepd a net to Hess over the first six months of this year.

ExxonMobil seals deal to buy 33% in Brazil’s offshore block for $1.3bn

ExxonMobil completed a $1.3bn agreement to acquire 33% of Statoil’s interest in the BM-S-8 block located 200 miles offshore Rio de Janeiro, Brazil.

Statoil currently holds a 66% interest in the BM-S-8 block, which contains part of the pre-salt Carcara oil field that has an estimated recoverable resource of two billion barrels of oil.

The other part of the Carcara field is in the adjacent North Carcara block, where ExxonMobil’s subsidiary ExxonMobil Exploracao Brasil, Statoil, and Galp subsidiary Petrogal Brasil were high bidders for a production sharing contract.

Shell wins offshore blocks in Brazil

Shell and its partners secured three production sharing contracts (PSC) for pre-salt blocks in the Santos Basin, offshore Brazil.

Towards the contracts, which run for a period of 35 years each, Shell is required to pay its share of the total signing bonuses, of around $100m.

Shell won a block adjacent to the Gato do Mato field in partnership with France’s Total. It is owned by the companies on an 80:20 basis.

US to lease 76.9 million acres in Gulf of Mexico

The US Government revealed plans to lease a 76.9 million acres area within the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama, and Florida.

The proposed Lease Sale 250 is scheduled for March next year and comprises all available unleased areas in the Gulf of Mexico’s Outer Continental Shelf.

It will be the second offshore sale under the National Outer Continental Shelf Oil and Gas Leasing Program for 2017-22.

Rosneft acquires 30% stake in Zohr gasfield for $1.125bn

Russian oil company Rosneft completed the $1.125bn acquisition of a 30% stake in the concessions agreement for the development of Zohr gasfield.

The deal was signed with Italian company Eni in December last year and will make Rosneft a key participant in the development of the deepwater gasfield in the Mediterranean Sea region off the coast of Egypt.

Under the deal, the company has also refunded its share in past project costs to Eni.

eDrilling and PVU sign deal to digitalise drilling operations in Vietnam

eDrilling and Petrovietnam University (PVU) signed a memorandum of understanding (MoU) for a long-term partnership to drive the digitalisation of drilling operations in Vietnam.

PVU provides high-quality research and training to the personnel of Vietnam National Oil and Gas Group (Petrovietnam).

Under the MoU, eDrilling will provide its software solutions that encompass planning, training, real-time operations, analysis and learning of oil and gas operations.

IOG signs deal with Heerema to develop four North Sea platforms

Independent Oil and Gas (IOG) signed a letter of intent (LoI) with Heerema Fabrication Group to construct up to four normally unmanned installation (NUIs) platforms in the North Sea’s southern region.

The LoI has been signed for front-end engineering and design (FEED) and engineering, procurement, construction and installation (EPCI) of the platforms, which will be used for IOG’s Southern North Sea (SNS) gas project.

The gas project comprises the Blythe Hub and Vulcan Satellites Hub developments.

Chevron ends Great Australian Bight exploration programme

Chevron Australia terminated its Great Australian Bight exploration programme, citing the current low oil price environment and inability to compete for capital in its global portfolio.

Great Australian Bight is in the offshore Western Australian region, and considered to be one of most prospective hydrocarbon regions in the country.

The company stated that the decision to discontinue exploration was a commercial one and not due to any government policy, regulatory, community or environmental concerns.

Statoil, Shell and Total partner for carbon storage project on NCS

Statoil signed a partnership agreement with Shell and Total to advance the development of carbon storage on the Norwegian Continental Shelf (NCS).

The project forms a part of Norway’s plan to develop full-scale carbon capture and storage in the country.

In June, Gassnova awarded the first phase of the project contract to Statoil.

CGG completes full-scale Topseis Survey in Barents Sea

CGG completed a full-scale commercial survey at Loppa High in the Barents Sea.

Commissioned by Lundin Norway, the survey aimed to develop a more detailed image of a complex carbonate reservoir located at depths ranging from 400m to 2,000m below the seabed.

Offshore broadband seismic acquisition and imaging solution TopSeis was used as part of the survey. It deployed seismic sources directly above the streamers in a ‘split-spread’ acquisition geometry to provide zero-offset and near-offset coverage, a strategy that is absent in conventional 3D towed-streamer seismic.