Irish oil and gas company PetroNeft Resources has signed a heads of terms agreement to acquire an additional 40% stake in Licence 67 in Russia for $2.9 million from Belgrave Naftogas (formerly Arawak Energy Russia). Licence 67 is a 2,447 km2 oil and gas block located in the Western Siberian Oil and Gas Basin in […]
Halliburton revealed that it has successfully deployed an electric grid-powered fracturing operation for Cimarex Energy on several pads in the Permian Basin in the US. The US-based oilfield services company said that it had started the work in November 2020 and has so far finished nearly 340 stages across various wells using utility-powered electric frac […]
Heirs Holdings in partnership with affiliated company Transnational Corporation of Nigeria (Transcorp), has acquired a 45% non-operating stake in OML 17, an onshore oil concession in Nigeria, along with associated assets. While Heirs Holdings is an Africa-focused investment company, Transnational Corporation is a publicly listed conglomerate in Nigeria, which is engaged in producing power among […]
US-based gas-to-power company New Fortress Energy (NFE) has agreed to acquire Bermuda-based natural gas storage provider Hygo Energy Transition and Golar LNG Partners (GMLP) for a total of $5 billion. Hygo Energy Transition is a 50-50 joint venture between Golar LNG (GLNG) and Stonepeak Infrastructure Fund II Cayman (G), a fund managed by Stonepeak Infrastructure […]
Indian conglomerate Reliance Industries Limited (RIL) and its partner BP have started production from the R Cluster gas project in the Krishna-Godavari Basin, offshore India. The ultra-deep-water gas project is among the three gas projects the partners are developing in the KG D6 block with a total investment of INR 350 billion ($4.75 billion). The […]
Hilcorp Energy has wrapped up the previously announced $5.6 billion acquisition of BP’s upstream and midstream operations in Alaska. Harvest Alaska, a midstream services provider and an affiliate of Hilcorp Energy, secured approval from the Regulatory Commission of Alaska last week for acquiring BP’s 49% stake in the 800 miles long Trans-Alaska Pipeline System (TAPS) […]
Aker BP and its partners in the Skarv Ara in the Norwegian Sea have decided to develop the Gråsel oil field next year having approved a final investment decision. The development of the Gråsel discovery is expected to involve an investment of around NOK 1.2 billion ($140.4 million). Gråsel was discovered in 1998. Aker BP’s […]
Norway-based OKEA has agreed to acquire Repsol Norge’s 40% operated working interest in the in the Norwegian North Sea’s PL 972, which includes the Vette oil discovery, for an undisclosed price. The Vette oil discovery contained in Block 17/12 is located at a water depth of nearly 110 metres in the south-eastern part of the […]
UK-based oil and gas company Zephyr Energy has started drilling of the State 16-2 well in the Paradox Basin in Utah using the Cyclone rig. The primary goals of the well are to drill a mildly deviated well to an approximate true vertical depth (TVD) of 9,815 feet. This is to enable Zephyr Energy to […]
The Norwegian government has approved the Northern Lights CCS project, a CO2 transport and storage project being taken up by Equinor and its partners on the Norwegian Continental Shelf (NCS). The Northern Lights CO2 transport and storage project also secured funding commitment from the Norwegian government. Northern Lights will enable the transport of CO2 from […]