01 July 2026
01 July 2026
Block 52 is operated by Petronas with an 80% interest, while Paradise Oil, owned by Staatsolie, holds the remaining 20%.
The assets will be acquired by subsidiaries of Talos Energy and Ridgewood Energy.
The agreement covers three “Cat D” rigs, which were originally designed for Equinor and built to operate in Norwegian winter conditions.
Equinor will receive stakes in producing assets and licences, including a 5% interest in the Fram field and positions in Ringvei Vest.
Under the new arrangement, Baker Hughes will supply maintenance and support services for equipment linked to the Train 7 project.
The project aims to maintain and boost gas production at the Bahr Essalam field, situated around 100km offshore Libya.
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