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Acquisitions and Divestitures News

Sale of Interest and Withdrawal from Mozambique Blocks
Madagascar >> 7/8/2011 - ROC has agreed to sell its 75% interest in the Juan de Nova Maritime Profond Block, located in the French Exclusive Economic zone off the coast of Juan de Nova Island (Mozambique Channel), to South At...
Libya Eyes New Investors for ENI Projects
Libya >> 7/7/2011 - Libya's government has begun negotiations with Russian and Chinese energy firms on taking over ENI's projects in Libya after the Italian firm withdrew its staff, a senior Libyan government official sa...
Foum Assaka Area Agreement in Morocco
Morocco >> 7/6/2011 - Kosmos has entered into a petroleum agreement with the Office National des Hydrocarbures et des Mines (ONHYM), the national oil company of Morocco, covering the Foum Assaka area offshore the Kingdom o...
ERHC Signs PSC on Three Oil Blocks in Republic of Chad
Chad >> 7/6/2011 - ERHC Energy Inc, a publicly traded American company with oil and gas assets in West Africa, announced that it has signed a production sharing contract (PSC) on the three oil blocks formally awarded to...
Simba, Finalizing Onshore Liberian PSC Application
Liberia >> 7/6/2011 - Simba Energy Inc has received an official invitation from the National Oil Company of Liberia (NOCAL) to meet in Monrovia, Liberia during the week of July 18, 2011 to commence the final negotiation pr...
Pancontinental Granted Licence Offshore Namibia
Namibia >> 7/5/2011 - Pancontinental Oil & Gas NL (Pancontinental) is very pleased to announce that late on 4 July 2011 it received a signed Petroleum Agreement (PA) and Petroleum Exploration Licence No. 0037 (EL) from the...
QFIB Acquires Stake in Kuwait Energy Company
Qatar >> 7/2/2011 - Qatar First Investment Bank (QFIB) announced the acquisition of a US$16 million stake in Kuwait Energy Company, a leading Middle Eastern independent oil and gas exploration and production company head...
Petrofac Elects Not to Exercise NT/P68 Option
Australia >> 7/1/2011 - MEO Australia Limited advises that Petrofac Energy Developments (Petrofac) has elected not to exercise its option to acquire 5% interest in NT/P68 & Tassie Shoal Projects. The option, which expired on...
Republic of Chad Awards ERHC Three Oil Blocks
Chad >> 6/30/2011 - ERHC Energy Inc, a publicly traded American company with oil and gas assets in West Africa, announced that the government of the Republic of Chad has formally awarded the company three oil blocks for ...
TransGlobe Acquires Interest in South Alamein
Egypt >> 6/29/2011 - TransGlobe South Alamein Inc., a wholly owned subsidiary of TransGlobe Energy Corporation, has entered into a SPA to acquire Cepsa Egypt's 50% operated working interest in South Alamein for $3.0 milli...
Transatlantic May Sell Existing Operations in Morocco
Morocco >> 6/28/2011 - TransAtlantic Petroleum Ltd said in a regulatory filing that one of its exploration well in Morocco is likely to be abandoned, and the company will likely seek to sell or farm-out its existing operati...
Gas Natural to Acquire 10% in Medgaz PL Consortium
Algeria >> 6/27/2011 - Spain's Gas Natural is to acquire a 10-percent stake in the Medgaz pipeline consortium from Algerian state energy firm Sonatrach, Sonatrach's chief executive Nourredine Cherouati said. "We are going t...
Mediterranean Farms Out Malta Area 4 PSC to Dominion
Malta >> 6/24/2011 - Mediterranean Oil & Gas (MOG) announced it has entered into a conditional agreement with Dominion Petroleum (DPL) to farm-out a 75% operated working interest in a production sharing contract for four ...
Rocksource Divests its US Onshore Assets
United States >> 6/24/2011 - Rocksource ASA announces that its US subsidiaries have sold the US onshore producing fields to a Texas-based oil and gas company. The transaction also terminates potential arbitration proceedings from...
Sonde Resources Completes the Sale of Block 5(C)
Trinidad and Tobago >> 6/23/2011 - Sonde Resources Corp. (Sonde) announced that it will receive a total of US$97.0 million from the sale of Sonde’s 25% interest in Block 5(c), located off the east coast of Trinidad and Tobago. Sonde so...
AsherXino Completes Farm Out Agreement with Petrolog Group
Nigeria >> 6/23/2011 - AsherXino Corporation is pleased to announce that it has completed a farm out and partnership agreement with Petrolog International Group for its offshore Nigeria concession. AsherXino had earlier rec...
Premier Oil Acquires Wytch Farm Assets
United Kingdom >> 6/20/2011 - Premier announces that it has agreed to acquire an interest of 17.715 per cent in Wytch Farm (the “Wytch Farm Assets”) for an initial cash consideration of $96 million. This follows a pre-emption noti...
Petrobras Acquires 50% in Mbeli and Ntsina Blocks
Gabon >> 6/17/2011 - Petroleo Brasileiro S.A. - Petrobras, announces it has acquired, by means of its wholly-owned subsidiary Petrobras Participaciones S.L. – PPSL, 50 per cent of the stakes in the Ntsina Marin and Mbeli ...
Karachaganak Owners to Cede 10 Pct to State
Kazakhstan >> 6/16/2011 - The consortium that owns the Karachaganak gas field in Kazakhstan has agreed to cede a 10 percent stake to the state, ending months of wrangling over its ownership, three sources close to the talks.
New World Completes a FOA for Blue Creek Project
Belize >> 6/16/2011 - New World Oil and Gas Plc, a company focused on making investments in the oil and gas sector, is pleased to announce that it has completed a Farm-Out Agreement (FOA) to acquire up to a 100% participat...

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