Gulf Oil and Gas accountACCOUNT

West Qurna 2 Exit Process Completed

Source: www.gulfoilandgas.com 5/30/2012, Location: Middle East

Statoil has now transferred its 18.75 per cent share in the West Qurna 2 field to the operator Lukoil following the Iraqi authorities’ approval of the transaction. Statoil has been a partner with Lukoil in the West Qurna 2 project since the two companies won a competitive bid in 2009.

Statoil will have no financial commitments towards the project as of 1 January 2012. The commercial terms of the transaction are confidential.

"Statoil is well positioned for profitable growth, with an extensive and opportunity-rich project portfolio," says Peter Mellbye, executive vice president for Development and Production International in Statoil. After thorough evaluation, we have decided to pursue other projects and opportunities.”

Acquisitions and Divestitures News in Iraq >>

Mexico >>  5/16/2019 - Ophir Energy has signed a Sales and Purchase Agreement ('SPA') relating to the sale of its 23.33% interest in Block 5 (Cuenca Salina), offshore Mexico...
Australia >>  5/14/2019 - Vintage Energy has executed a binding Heads of Agreement with Firetail Energy Services for it to become a joint venture partner in the EP126 permit (o...

Mexico >>  5/13/2019 - Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a tot...
Trinidad and Tobago >>  5/13/2019 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to announce that it...

Indonesia >>  5/8/2019 - Sonoro Energy has announced that along with its Indonesian partner Menara Global Energi, an affiliate of a substantial Indonesian company, it has been...
Gambia >>  5/1/2019 - African Petroleum notes recent media articles stating that BP has signed an agreement with the Gambian government in relation to Block A1 in The Gambi...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Iraq >>

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.