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ENI acquires 70% stake in UAE’s offshore block 3

December 22, 2020
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Eni signed a Concession Agreement for the acquisition of a 70% stake in the Exploration Offshore Block 3, leading a consortium including a wholly owned subsidiary of Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) with the remaining 30% stake. Offshore Block 3, located in the north-west offshore of the Abu Dhabi Emirate, is the largest area

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Norway’s supreme court rule in favor of Arctic exploration

December 22, 2020
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Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment. While most of Norway’s oil output flows from south of the Arctic, the government believes the greatest untapped potential lies in the Barents Sea off Europe’s northernmost coast. Tuesday’s verdict upheld rulings

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MHWirth awarded topside drilling package from Guangzhu Marine Geological Survey

December 21, 2020
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MHWirth is pleased to announce that the company has received notification of award of a contract for delivery of a drilling equipment package to Guangzhou Marine Geological Survey (GMGS). The contract is for delivery of the topside drilling equipment to be installed onboard a drillship operated by GMGS with expected delivery date in December 2023. Total contract value is

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Shelf sells the Journey to ADNOC for $77 million

December 21, 2020
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Shelf Drilling, Ltd. announces that one of its subsidiaries (“Seller”) has entered into a definitive agreement with ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), to sell the Shelf Drilling Journey jack-up drilling rig for a total consideration of USD 77.6 million. Seller has been designated as an unrestricted subsidiary as defined in

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More work for Deepsea Atlantic

December 21, 2020
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Equinor has exercised two new wells for Deepsea Atlantic. The wells have been exercised under the continued optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q1 2021. The commercial terms

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2021 Foreign investment in oil and gas expected to hit $1.1 billion in Equatorial Guinea

December 18, 2020
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Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) will target increased foreign capital and E&P activities in 2021, following its recent evaluation of 2021 Work and Budget Programs. The MMH forecasts foreign direct investment for 2021 of approximately $1.1 billion, comprising $832.4 million in firm commitments and $370.6 million in contingent investment. As a result of augmented investment inflows,

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Energean acquires Edison E&P

December 18, 2020
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Energean plc is pleased to announce that it has completed its acquisition of Edison Exploration & Production S.p.A. ("Edison E&P") from Edison S.p.A. ("Edison"). The gross consideration for the transaction, as at the locked box date of 1 January 2019, is $284 million and the final net consideration (net of cash acquired), as of today, is $203

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