Oil and gas industry news

Nigerian oil and gas company LEKOIL said that it has entered into a strategic alliance agreement (SAA) with NAMCOR Exploration and Production (NAMCOR E&P) through its subsidiary – LEKOIL Exploration & Production (PTY) Namibia (LEKOIL Namibia). NAMCOR E&P, a subsidiary of the Namibian national oil company – National Petroleum Corporation of Namibia, is looking to […]

AGR Consultancy, a wells and reservoir consultant, has won a frame agreement with Vår Energi for providing temporary contract workers for the latter’s operations on the Norwegian Continental Shelf. The agreement calls for the supply of offshore, subsurface, drilling and wells, IT and other technical, health safety, environment and quality (HSEQ), and administrative consultant personnel. […]

French oil and gas giant Total said that it is chartering four Aframax-type vessels equipped with LNG propulsion (LNG) as part of its strategy for cutting down greenhouse gases emissions in maritime transportation. The LNG-powered vessels have a capacity of 110,000 tons each of crude oil or refined products. Slated to be delivered in 2023, […]

Luiperd gas condensate discovery : French oil and gas giant Total claims to have pulled off a significant gas and condensate discovery on the Luiperd prospect on Block 11B/12B in the Outeniqua Basin in South African waters. The new gas condensate discovery is located 175 kilometers off the southern coast of the country. Total said […]

The Abu Dhabi National Oil Company (ADNOC) has awarded three contracts worth $324 million (AED 1.19 billion) through its subsidiary ADNOC Onshore for streamlining onshore field operations and boost efficiencies. According to the UAE national oil company, the three contracts will involve the procurement and construction of flowlines and wellhead installations across various onshore oil […]

Oil and gas giant bp has commenced production from the Qattameya gas field in the North Damietta offshore concession in the Nile Delta in Egypt. bp, through its joint venture – Pharaonic Petroleum Company (PhPC), has developed the shallow water gas field via a one-well subsea development and tie-back to existing infrastructure.‎ The oil and […]

ConocoPhillips acquisition of Concho Resources : US oil and gas giant ConocoPhillips has agreed to acquire Concho Resources, an unconventional shale producer in the Permian Basin, in an all-stock deal worth $9.7 billion. The deal is set to combine a couple of high-quality industry leaders to create a company with an enterprise value of nearly […]

Hess Corporation has signed an agreement to sell its 28% stake in the Shenzi Field located in the deep-water Gulf of Mexico to the field’s operator BHP Billiton for $505 million. The deal will see BHP Billiton increase its stake in the oil and gas field from 44% to 72%. The only other stakeholder in […]

Lundin Energy said that its fully-owned subsidiary – Lundin Energy Norway has signed a deal worth $125 million with Idemitsu Petroleum Norge (IPN) to acquire stakes in a portfolio of licences in the Barents Sea. The deal includes a working interest of 10% in the Wisting oil discovery and an additional working interest of 15% […]

TechnipFMC has been bagged a contract from ExxonMobil’s subsidiary Esso Exploration and Production Guyana for delivering the subsea system for the $9bn Payara field development project. The value of the contract is in the range of $500 million and $1 billion. Under the contract, TechnipFMC will be engaged in the manufacturing and supply of the […]