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Acquisitions and Divestitures News

NZOG Acquires 40% in Cosmos Concession
Tunisia >> 12/14/2011 - NZOG (New Zealand Oil & Gas Ltd) is pleased to announce that it has executed an agreement to take a 40% stake in a Tunisian concession that contains an oil field which could be brought into production...
Kosmos Reconnaissance Contract in Tarhazoute Block
Kosmos Reconnaissance Contract in Tarhazoute Block Morocco >> 12/14/2011 - Kosmos Energy announced that it has entered into a Reconnaissance Contract for the Tarhazoute Block offshore the Kingdom of Morocco. Covering 1.9 million gross acres in water depths of between 3,250 a...
Suncor Energy Announces Withdrawal from Syria
Syria >> 12/11/2011 - Suncor Energy reported that it has declared force majeure under its contractual obligations and is suspending its operations with the General Petroleum Corporation (GPC) in Syria. These actions are ta...
Neon Awarded Indonesian Exploration Block
Indonesia >> 12/8/2011 - Neon Energy Limited has received notification from Indonesian regulatory authority MIGAS, of the award of the Tanjung Aru Production Sharing Contract to a Joint Venture consortium comprised of the fol...
Rosneft & PDVSA Signed a MOU in Carabobo-2 Project
Venezuela >> 12/8/2011 - Rosneft and PDVSA signed a tentative memorandum of understanding to set up a joint venture to develop heavy crude oil reserves in Venezuela as part of the Carabobo-2 project. Rosneft will hold a 40% s...
Uganda Hopes to Approve Tullow Deal by January 2012
Uganda >> 12/8/2011 - Approval for Tullow Oil's sale of some of its Ugandan assets to CNOOC and Total could come before the end of January if the company furnishes details about the deal within two weeks, Uganda's oil mini...
Shell, Eni Buy Huge Nigeria Offshore Oil Block
Nigeria >> 12/7/2011 - Royal Dutch Shell and Eni have bought the prospective Nigerian deep offshore oil block OPL 245, the companies said, ending a decade of legal disputes over the huge asset. Shell and Eni said they would...
Rare Earth to Acquire Lion Petroleum Corporation
Kenya >> 12/6/2011 - Rare Earth Industries Ltd. (Rare Earth) is pleased to announce that it has entered into a letter of intent dated December 5, 2011 (the "LOI"), to acquire all of the issued and outstanding share capita...
Total to Acquire GDF SUEZ Interest in Elgin Franklin
United Kingdom >> 12/6/2011 - Total, operator of the Elgin/Franklin fields in the British sector of the North Sea, announces the purchase of GDF SUEZ’s share in the two fields for an enterprise value of €590 million. This particip...
Dominion Petroleum Provides Update on Block 7 Farmout
Tanzania >> 12/6/2011 - On 5 October 2011, Dominion announced the farm-out of a 20% working interest in Block 7, deepwater Tanzania to a Mubadala Oil & Gas company (Mubadala). Dominion can now confirm that, following uncondi...
Adira Farms out Yitzhak Licence to AGR Group
Israel >> 12/5/2011 - Adira Energy Ltd. is pleased to announce that it has entered into a series of agreements to farm-out part of its interest in the Yitzhak license to strengthen its operating and business profile in the...
Providence Awarded Standard Exploration Licence 2/11
Ireland >> 12/2/2011 - Providence Resources P.l.c., (Providence) the London (AIM) and Dublin (ESM) listed oil and gas exploration and production company, is pleased to announce that it has been awarded Standard Exploration ...
Neconde Completes Nigeria OML 42 Purchase
Nigeria >> 12/1/2011 - Kulczyk Oil Ventures Inc announces that Neconde Energy Limited (“Neconde”) has completed the acquisition of Oil Mining License 42 (“OML 42”) announced by KOV in a news release dated 6 May 2011. The pu...
Afren Owned Firm Buys Nigeria Oil Block OML 26
Nigeria >> 12/1/2011 - First Hydrocarbon Nigeria Limited ("FHN") has announced that it has completed the acquisition of a 45% interest in OML 26 from the Shell Petroleum Development Company of Nigeria Ltd ("SPDC"), Total E&...
Lukoil Talks to Replace Exxon Mobil at West Qurna-1
Iraq >> 11/30/2011 - Dow Jones reported that Neftyanaya kompaniya LUKOIL OAO is in talks to acquire from Exxon Mobil Corporation a stake in development of West Qurna-1 oil field in Iraq, Russian RBC Daily reported. Accord...
NIOC & Persia Company Signed Yaran Development Contract
Iran >> 11/29/2011 - Development contract of Yaran joint oil field (with Iraq) was signed between National Iranian Oil Company (NIOC) and Persia Oil and Gas Industry Development Company. ...
African Petroleum Awarded Two Exploration Permits Offshore Senegal
Senegal >> 11/28/2011 - African Petroleum Corporation Limited is pleased to announce that its wholly owned subsidiary, African Petroleum Senegal Limited (“African Petroleum Senegal”), has entered into an agreement with the S...
RWE to Sell Egyptian Assets to Shore Up Finances
Egypt >> 11/25/2011 - German utility RWE has earmarked oil and gas assets in Egypt for sale in a bid to shore up its finances as Germany moves to exit nuclear energy, the Financial Times reported. ...
Heritage Oil Provides Update on Ugandan Tax Dispute
Uganda >> 11/24/2011 - Heritage Oil Plc, an independent upstream exploration and production company, has considered the ruling dated 23 November 2011 of the Tax Appeals Tribunal in Uganda dismissing the application of its w...
Heritage Oil Loses Tax Dispute in Uganda
Uganda >> 11/24/2011 - Explorer Heritage Oil has lost a $404 million tax row in Uganda after the east African country's tax authority ruled it was liable to pay a disputed capital gains bill, according to a local media repo...

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