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Month: December 2021

Savannah Energy signs share purchase agreement with Exxon and Petronas for Chad and Cameroon

December 15, 2021
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Savannah Energy PLC. announced that it has signed a Share Purchase Agreement (SPA) with Exxon Mobil Corporation, ExxonMobil International Holdings, Inc. and Esso Exploration Holdings, Inc. (Exxon) and has separately signed an SPA with PETRONAS (E&P) Overseas Ventures SDN. BHD. relating to the purchase of each of their entire upstream and midstream asset portfolios in Chad and

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Stena Don arrives on location for Chariot

December 15, 2021
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Chariot has announced that the Stena Don drilling rig has now arrived on location in the Lixus licence, offshore Morocco, to carry out drilling operations on the Anchois gas development project. Chariot has a 75% interest and operatorship of Lixus in partnership with the Office National des Hydrocarbures et des Mines ('ONHYM') which holds a 25% interest. Operations to drill

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Helix locks in well intervention extension offshore Brazil

December 15, 2021
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Helix Energy Solutions Group, Inc. announced that it has entered into an extension of its well intervention charter and services contracts for the Siem Helix 2 offshore Brazil with Petrobras. The initial four-year contract for the Siem Helix 2 has been extended by one year at a reduced rate reflective of the current market. The Siem Helix 2 is now set to remain under

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Deepwater exploration set to prevail 2022

December 15, 2021
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Wood Mackenzie issued a press release that highlights many strong points about deepwater exploration going into 2022. The oil and gas sector will continue to rebound in 2022, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK) But the positive outlook will be tempered by concerns about its future. Overall investment will go up, but capital discipline will prevail. A 9%

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QatarEnergy taps Shell for two blocks offshore Egypt

December 14, 2021
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QatarEnergy entered into agreements with Shell to acquire working interests in two offshore exploration blocks in the Egyptian side of the Red Sea. Under the terms of the agreements, which are subject to customary approvals by the government of Egypt, QatarEnergy will hold a 17% working interest in Red Sea Blocks 3 and 4. Commenting on concluding these agreements,

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PGS awarded new work in West Africa

December 14, 2021
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Petroleum Geo-Services (PGS) has secured a contract to conduct a 3D exploration in West Africa. PGS’ Ramform Titan-class vessel is scheduled to commence exploration in early February 2022 and complete the work in mid-March. The seismic company did not disclose further information about the project and client. “We are very pleased with this contract award, and it proves that exploration

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Reach Subsea awarded new work in GoM

December 14, 2021
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Reach Subsea has been awarded a contract in the US Gulf for end of 2021 and 2022 execution, representing about 230 project days. The project involves support of an Ocean Bottom Node campaign and will be performed by the Olympic Artemis spread. Taken together with other recent smaller contract awards, this award provides another indication of improving visibility and fundamentals in our market. Reach now

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Equinor looks to generate $1 billion from Martin Linge stake sell

December 14, 2021
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Equinor plans to sell a stake in its Martin Linge oilfield in the North Sea, hoping to raise more than $1 billion, industry and banking sources told Reuters. The sale is aimed at reducing Equinor’s large stake in the field and take advantage of strong demand for Norwegian oil and gas assets, the sources said. Norway’s oil and gas

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Solstad awarded new two year deal

December 14, 2021
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Solstad Offshore has announced that the PSV Far Spica has been awarded a term contract with a North Sea Operator. The vessel has been contracted for a period of one-year firm, with further options for up to two years, commencing December 2021 and in direct continuation of the vessel’s current contract. The vessel has been working with this Operator since June 2020. Source:

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