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Acquisitions and Divestitures News

CNOOC in Joint Venture Talks for Uganda Refinery
Uganda >> 2/23/2012 - Stated-owned China National Offshore Oil Corp (CNOOC) is negotiating with Uganda to participate in the African country's first refinery, the China Daily reported. CNOOC, together with the British oil ...
Court Approval for Sale of Eagles Nest Asset
Canada >> 2/23/2012 - Oilsands Quest Inc. has received approval from the Alberta Court of Queen’s Bench for the sale of the Company’s non-core Eagles Nest asset to FAMA Capital Ltd, an unrelated third party, for CDN$7.0 mi...
Exxon Signs Nigeria Oil Renewals
Nigeria >> 2/22/2012 - Exxon Mobil signed 20-year oil licence renewals on Nigerian assets producing around 550,000 barrels per day on Wednesday, the company's country manager said, ending months of negotiations. ...
Tullow Completes $2.9bn Farm-Down of Uganda Licences
Uganda >> 2/21/2012 - Tullow Oil plc (Tullow) is pleased to announce that it has completed the farm-down of 66.6666% of its Ugandan licences to CNOOC Limited and Total for a consideration of $2.9 billion. The farm-down fol...
Iran Signs a New Oil Contract
Iran >> 2/21/2012 - Development contract of three oil fields including Kohmond, Kaki and Boshgan was signed between Petroleum Engineering and Development Company (PEDEC) on the one hand and Kish’s International Neft and ...
Otto Energy Acquires Interests in Two PSAs from Swala
Tanzania >> 2/21/2012 - Otto Energy Ltd (Otto) has agreed to acquire interests in two onshore Production Sharing Agreements (PSA's) in Tanzania from joint venture partner Swala Oil and Gas (Tanzania) Limited (Swala). The acq...
Forouz B Gas Field Contract Signed
Iran >> 2/21/2012 - Development contract of the gas field named Forouz B was signed between the National Iranian Offshore Oil Company (NIOOC) and Mapna Group today morning in the presence of minister of petroleum Rostam ...
Bashneft Wins Auction for Two Subsoil Blocks
Bashneft Wins Auction for Two Subsoil Blocks Russia >> 2/21/2012 - Bashneft was recognized as winner of the auction held by the Department of Subsoil Use of the Nenets Autonomous District (NAOnedra) and was granted the rights to geological exploration, finding, surve...
CAMAC Signs HOA for Three Kenyan Exploration Blocks
Kenya >> 2/21/2012 - CAMAC Energy Inc., a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that it has entered into a heads of agreement with the Kenyan Mini...
Update on Divestment of Mnazi Bay Concession
Tanzania >> 2/21/2012 - Cove Energy plc, the AIM quoted upstream oil and gas company, notes the announcement issued today by Wentworth Resources Limited (Wentworth) confirming, inter alia, that the concession partner and ope...
AWE Completes Indonesian Transaction
Indonesia >> 2/17/2012 - AWE Limited (“AWE”) is pleased to announce that the transaction to acquire a 100% interest and operatorship of two Production Sharing Contracts offshore Indonesia has been completed effective 17 Febru...
Total Buys Stakes in Three New Exploration Licenses
Ivory Coast (Cote D'Ivoire) >> 2/17/2012 - Total announces the signature of production sharing agreements with the Cote d’Ivoire state and national oil company Petroci for three new ultra-deep offshore licenses. Total will operate the CI-514 l...
ConocoPhillips Announces Sale of Vietnam Business Unit
Vietnam >> 2/16/2012 - ConocoPhillips announced that, as part of its ongoing strategy to create shareholder value, it has entered into an agreement to sell its Vietnam business unit for a total of $1.29 billion plus customa...
Gulf Keystone Appoints Advisors to Akri Bijeel Sale
Iraq >> 2/14/2012 - Shares in Gulf Keystone Petroleum gained another five per cent in morning trading when the AIM-quoted E&P signaled further progress in its plans to monetise its game-changing portfolio of exploration ...
Vaalco Energy Granted Extension of PSA for Block 5
Angola >> 2/14/2012 - VAALCO Energy, Inc. provided an update on the company’s working interest in Block 5 offshore Angola. VAALCO recently received written confirmation from the Angolan national oil company, Sonangol, that...
TAQA Announces UK North Sea Farm-In Agreements
United Kingdom >> 2/13/2012 - Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange, announced two farm-in agreements with a subsidiary of Fairfield Energy Limited (Fairfield...
Shell Granted Exploration Right in South Africa
South Africa >> 2/10/2012 - The Minister of Mineral Resources has awarded Shell South Africa Upstream B.V. an exploration right in the Orange Basin Deep Water area off the north-west coast of South Africa. The exploration area c...
LUKOIL Says Statoil Plans to Leave Iraq's Field
Iraq >> 2/9/2012 - Russian oil company LUKOIL said that Norway's Statoil has informed it about plans to leave Iraq's West Qurna Two oilfield, Russian agencies is quoting LUKOIL's top executive as saying. ...
North Energy Sells Fogelberg Gas Discovery
Norway >> 2/9/2012 - North Energy has entered into an agreement to sell its interest in licence 433 (Fogelberg) for NOK 70 million to Centrica Resources (Norway). Production licence 433 contains the Fogelberg gas/condensa...
Sacoil Agrees Revised Terms for Entry into OPL 281
Nigeria >> 2/8/2012 - SacOil, the independent African upstream oil & gas company, announces it has agreed revised terms for its partnership with Transnational Corporation of Nigeria PLC (‘Transcorp’) and Energy Equity Reso...

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