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Acquisitions and Divestitures News

OMV to Purchase a 24.98% Interest in Achimov IV & V Phase Development
Russia >> 10/3/2018 - OMV and Gazprom have signed a 'Basic Sale Agreement' which foresees a potential acquisition of a 24.98% interest in the Achimov IV and V phase development in the Urengoy gas and condensate field by OM...
Marathon Oil Looks to Exit North Sea, Joining other U.S. Rivals
Norway >> 10/3/2018 - Marathon Oil has launched the sale of its British North Sea oil and gas fields, a document seen by Reuters showed, the latest U.S. firm to retreat from the basin to focus on onshore shale production a...
Lundin Aannounces Acquisition Consolidating the Luno II & Edvard Grieg Ownerships
Norway >> 10/3/2018 - Lundin Petroleum has announced that its wholly-owned subsidiary Lundin Norway has entered into an agreement with Equinor under which Lundin Norway will acquire Equinor’s entire 15 percent working inte...
Gazprom & OMV Sign Basic Agreement on Asset Sale
Russia >> 10/3/2018 - Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, today signed in St. Petersburg a Basic Agreement on Asset Sale. ...
Acquisition of Net Profits Interests in 3 UK Petroleum Licences
United Kingdom >> 10/2/2018 - The Board of Westmount is pleased to announce the acquisition of net profits interests ("NPI") in three offshore UK petroleum licences previously held by Infrastrata Plc ("Infrastrata"). The transacti...
Rex on Track to Achieve Production in Oman Block in 2019
Oman >> 10/2/2018 - Rex International Holding Limited was looking to farm-out a substantial equity interest in Block 50 Oman (in which it holds a 92.65 per cent indirect stake), is now considering to maintain a high equi...
Serica Provides Update on OFAC License for Rhum Field
Iran >> 10/1/2018 - Serica Energy plc has received notification from BP that the US Office of Foreign Assets Control (“OFAC”) has issued a new licence relating to the Rhum Field. The licence authorises the provision of e...
Vitol to Acquire 50% in Brazilian Downstream Company Rodoil
Brazil >> 10/1/2018 - Vitol has agreed to acquire 50% of Brazilian downstream company Rodoil for an undisclosed sum. Rodoil is a market leader in the southern part of Brazil with a downstream network comprising some 300 br...
Equinor Acquires a 40% Stake in the Rosebank Project in UK
United Kingdom >> 10/1/2018 - Equinor has signed an agreement to acquire Chevron’s 40% operated interest in the Rosebank project, one of the largest undeveloped fields on the UK Continental Shelf (UKCS). Once concluded, the transa...
ConocoPhillips Enters Agreement to Sell Interest in Greater Sunrise Fields
Portugal >> 10/1/2018 - ConocoPhillips has entered into an agreement to sell to the government of Timor-Leste its 30 percent interest in the Greater Sunrise Fields. The total sales price of the transaction, which is conditio...
Shell Completes Sale of Its Downstream Business in Argentina to Raizen
Argentina >> 10/1/2018 - Shell CAPSA (Shell), a subsidiary of Royal Dutch Shell plc, has completed the sale of its Downstream business in Argentina to Raizen for US$916 million in cash, subject to final price adjustments. ...
Encana to Sell San Juan Assets to DJR Energy for $480 million
United States >> 10/1/2018 - Encana Corporation, announced that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has reached an agreement to sell its San Juan assets, located in New Mexico for US$480 million to Denver-ba...
Keppel Land in JV to Develop Its First Commercial Development in India
India >> 10/1/2018 - Keppel Land Limited (Keppel Land), through its subsidiary, Keppel Puravankara Development Pte Ltd (KPDL), a joint venture company with a reputable Indian property developer, Puravankara Limited (Purav...
CNOOC Signs PSC with Empyrean for Block 29/11
China >> 9/30/2018 - CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed a production sharing contract (PSC) with Empyrean Energy for Block 29/11 in the South C...
BHP Completes Sale of Fayetteville Onshore US Assets
United States >> 9/29/2018 - BHP has completed the sale of its Fayetteville Onshore US gas assets to a wholly owned subsidiary of Merit Energy Company (Merit). Merit acquired 100% of the issued share capital of BHP Billiton Petro...
Jadestone Energy Announces Completion of Montara Acquisition
Australia >> 9/28/2018 - Jadestone Energy Inc. has completed its acquisition of the Montara oil project (“Montara”), offshore Australia. ...
OMV Petrom Transfers Licences to Mazarine Energy
Romania >> 9/28/2018 - OMV Petrom S.A. (OMV Petrom), the largest energy company in South-Eastern Europe, reached an agreement for the transfer of licenses for nine onshore oil and gas fields in Romania to Mazarine Energy Ro...
88 Energy Provides Update on Alaska North Slope Operations
United States >> 9/28/2018 - 88 Energy Limited provides the following update related to its operations, located on the North Slope of Alaska. ...
5th Production Sharing Round has all the Blocks Acquired
Brazil >> 9/28/2018 - The 5th Production Sharing Round, held by ANP, had all its four blocks acquired: Saturno, Tita, Pau-Brasil e Sudoeste de Tartaruga Verde. The Round raised R$ 6,82 billion in signing bonuses and R$ 1 b...
Shell Adds Material Acreage to Its Deepwater Position in Brazil
Brazil >> 9/28/2018 - Shell Brasil Petroleo Ltda, a subsidiary of Royal Dutch Shell plc (“Shell”), and its bid consortium member Chevron Brasil Oleo & Gas Ltda (“Chevron”), won a 35-year production sharing contract for the...

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