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QatarEnergy taps Shell for two blocks offshore Egypt

December 14, 2021
| Archives

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
| Archives

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
| Archives

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
| Archives

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
| Archives

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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Shell spuds in wildcat Graff-1 offshore Namibia

December 14, 2021
| Archives

NAMCOR, along with its exploration partners Shell Namibia Upstream B.V. and QatarEnergy announced that they had spudded the Graff-1 exploration well in Block 2913A, Orange Basin, offshore Namibia. This is quite a milestone for us and the country as a whole and look forward to the well results. Graff-1 was spudded in with the Valaris DS-10 Source: Namcor Join our mailing

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EnCap combines two Permian producers worth more than $4 billion

December 14, 2021
| Archives

EnCap Investments LP has combined two of its portfolio companies in the Permian basin, creating an oil producer worth more than $4 billion including debt that the private equity firm wants to take public as soon as next year, people familiar with the matter said on Monday. The energy-focused investment firm has merged Advance Energy Partners and Ameredev

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Equinor plans uptick in exploration drilling offshore Norway in 2022

December 14, 2021
| Archives

Equinor will drill more oil and gas exploration wells off its native Norway in 2022 than this year to help sustain the company’s future cash flow, a senior executive said on Tuesday. The majority state-owned company plans to drill 25 exploration well in Norway, up from 16 wells this year, focusing on areas near its existing fields and

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QatarEnergy and ExxonMobil awarded exploration and production sharing contract offshore Cyprus

December 13, 2021
| Archives

A consortium comprising affiliates of QatarEnergy and ExxonMobil signed an exploration and production sharing contract ('EPSC') with the Republic of Cyprus for the offshore Block 5 located southwest of the island. This is QatarEnergy’s second exploration block in the Republic of Cyprus, in addition to Block 10, which was awarded to the same consortium in 2017 and resulted in the 'Glaucus' gas discovery announced in February 2019

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