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Acquisitions and Divestitures News

Petrobras Relinquishes Cuba Oil Block
Cuba >> 3/10/2011 - Brazilian oil giant Petrobras has withdrawn from an offshore oil exploration block in Cuba's waters that it leased amid great fanfare in 2008, a Brazilian official said, citing poor prospects. ...
Sound Oil Awarded Colle Ginestre Licence in Italy
Italy >> 3/9/2011 - Sound Oil plc, the upstream oil and gas company with assets in Indonesia and Italy, is pleased to announce that it has been awarded a new exploration licence in Italy, bringing the total number of its...
GOM Divestiture and Marcellus Shale Milestone
United States >> 3/9/2011 - Seneca Resources Corporation, a wholly owned subsidiary of National Fuel Gas Company, announced that it has entered into an agreement to sell its offshore Gulf of Mexico oil and natural gas producing ...
PA Resources’ Improved Fiscal Terms Formally Approved
Congo >> 3/9/2011 - Improved fiscal terms for the production sharing contract for the Azurite Field and the Mer Profonde Sud licence in the Republic of Congo has been formally approved.

The amendment gives PA...
Valiant Farms-Out Cladhan Stake in North Sea
United Kingdom >> 3/8/2011 - Valiant Petroleum plc (Valiant) is pleased to announce that its wholly owned subsidiary, Valiant Exploration Limited, has reached a series of agreements to farm-down and swap part of its 100% holding ...
Det Norske to Acquire 10% in PL438 in the Barents Sea
Norway >> 3/8/2011 - Det norske has entered into an agreement with Talisman Energy to acquire 10 percent in PL438 in the Barents Sea. The license contains the prospect called Skalle. ...
Sasol Acquires Additional Stake in Canada Shale Gas
Canada >> 3/8/2011 - Sasol, a South African technology -driven, alternative fuels and chemicals company, announced it signed a second agreement with Canadian -based Talisman Energy to acquire a 50% stake in their Cypress ...
Worrior Sale Secured and Multi Block Farm-Out
Australia >> 3/8/2011 - Cooper Energy is pleased to inform shareholders that the Company has entered into a transaction with GB Energy Limited regarding the sale of all of the shares in Worrior (PPL 207) Pty Ltd which is the...
Petroamerica Withdraws from Eastern Cordillera Blocks
Colombia >> 3/7/2011 - Petroamerica Oil Corp. announces that it is withdrawing from the Eastern Cordillera blocks, COR-12 and COR-14, in Colombia. This divestment reflects part of an ongoing portfolio restructuring plan by ...
Seven is Bidding for Shell Field in Nigeria
Nigeria >> 3/7/2011 - Seven Energy has bid for one of four oil blocks being sold by Shell in Nigeria to snap up Western oil majors' properties as unrest in North Africa and the Middle East boosts global crude prices.
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Tullow to Farm-in to a 10% Stake in Kenyan Block L8
Kenya >> 3/7/2011 - Pancontinental Oil & Gas NL is very pleased to announce that it has signed an agreement with Tullow Kenya B.V. a wholly owned subsidiary of Tullow Oil plc for Tullow to farmin to a 10% interest in the...
Repsol Acquires Exploration Blocks In Alaska
United States >> 3/7/2011 - Repsol E&P USA Inc. ("Repsol") is pleased to announce an exploration joint venture with 70 & 148 LLC (“70”) and GMT Exploration LLC (“GMT”) on the North Slope of Alaska. Terms of the join t venture in...
Azar Oilfield Contract to Be Signed in Near Future
Iran >> 3/4/2011 - The managing director of the Petroleum Engineering and Development Company (PEDEC) Naji Sadouni reported of signing of a 1.5 billion dollar contract with an Iranian consortium for development of Azar ...
Total Acquire 60% Interest in Block III
Congo, Democratic Republic (Zaire) >> 3/4/2011 - The board of DIG OIL sprl is pleased to announce that one of its subsidiaries, Semliki Energy SPRL, a company incorporated in the Democratic Republic of Congo, has concluded a farm in agreement with T...
Infrastrata Awarded Licence PL1/10 in Ireland
Ireland >> 3/4/2011 - InfraStrata is pleased to announce that further to its announcement on 19 November 2010, the Company has been formally awarded a petroleum exploration licence PL1/10 (Central Larne - Lough Neagh Basin...
Oselvar and Enoch Divestment Update
Norway >> 3/3/2011 - Norwegian Energy Company (Noreco) in September 2010 announced an agreement to sell its shares in the Oselvar and Enoch fields in Norway to Marubeni Corporation. The parties have now been informed that...
Canamens BNG Funding Announcement
Kazakhstan >> 3/3/2011 - Canamens has informed Roxi Petroleum that it will not make the final payments of, in aggregate, $11,975,926 due under the second stage of the sale and purchase agreement in connection with BNG Ltd llp...
Receiving Approval for Farm Out of Blocks 120 & 105
Vietnam >> 3/2/2011 - Neon Energy is pleased to confirm that it has received confirmation from Petrovietnam that the assignments to KrisEnergy Ltd in Block 120 and Block 105-110/04 (Block 105) are approved by the Vietnames...
Total Enters into Strategic Partnership with Novatek
Russia >> 3/2/2011 - Christophe de Margerie, Total’s Chairman and Chief Executive Officer, was invited to meet the Russia’s President Dmitry Medvedev this afternoon in Moscow. It gave them the opportunity to review the ov...
Statoil and ExxonMobil Together on the Faroes
Faroe Islands >> 3/1/2011 - ExxonMobil Exploration & Production Faroe Islands Limited will acquire 50% interest in Licenses 009 and 011 and 49% interest in License 006, where Atlantic Petroleum is a minority owner with 1% intere...

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