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Medco Energi completes acquisition of Conoco Indonesia assets for $1.3 billion

March 4, 2022
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Medco Energi International has announced the successful completion of the acquisition of the entire share capital of ConocoPhillips Indonesia Holding Ltd. ('CIHL') from Phillips International Investments Inc., a subsidiary of ConocoPhillips. CIHL wholly owns ConocoPhillips (Grissik) Ltd ('CPGL'), the Operator of the Corridor PSC with a 54% working interest and a 35% interest in Transasia Pipeline Company Pvt. Ltd. The Corridor PSC has two producing oil

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ConocoPhillips granted permit offshore Norway using the Transocean Norge

March 4, 2022
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The Norwegian Petroleum Directorate has granted ConocoPhillips Skandinavia a drilling permit for well 6507/5-11 in production licence PL 891. The well will be drilled at location 65° 30' 59.62'' N 7° 29' 45.79'' E by the Transocean Norge semi-sub. Expected spud date is March 2022. Licensees are ConocoPhillips (Operator) 80%; Pandion Energy 20%. Source: NPD Join our mailing list here

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War in Ukraine could wipe out 1 million bpd of oil demand

March 4, 2022
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War in Ukraine could result in as much as 1 million barrels per day (bpd) of oil demand being removed from the global market, Rystad Energy research shows. The human and material costs of the conflict have been catastrophic just seven days into the military operation. Russia has so far shown no signs of backing down, and prospects of a

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Equinor given consent for the Cambozola prospect

March 4, 2022
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The Petroleum Safety Authority Norway has given Equinor consent for exploration drilling in production license PL 1049 in the North Sea. Well 34/9-1 S will be drilled to test a prospect named Cambozola. The well will be drilled by the Deepsea Stavanger at location 61°16´45.69" North 002°48´44.46" East. Water depth is 382 metres. Source: PSA Join our mailing list here

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Chevron purchases biodiesel maker Renewable Energy Inc for $3.5 billion

March 2, 2022
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Chevron Corp is buying biodiesel maker Renewable Energy Group Inc for $3.15 billion, in its biggest bet so far on alternative fuels. The second-biggest U.S. oil and gas producer said on Monday it would pay $61.5 in cash for each share of Renewable Energy, a premium of over 40% to the company's past Friday close. Renewable Energy shares rose more

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ExxonMobil to discontinue operations at Sakhalin, no new investments in Russia

March 2, 2022
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ExxonMobil has issued the following statement regarding the situation in Ukraine. ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people. We are deeply saddened by the loss of innocent lives and support

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Sparrows being acquired by Altrad Group

March 2, 2022
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Global engineering and maintenance specialist Sparrows Group has entered into an agreement to be acquired by Altrad Group, a leading industrial services provider. The transaction will include the acquisition of Sparrows’ wind energy business Alpha and is an important development in Altrad’s global growth ambitions, further strengthening its position in the offshore, renewables and industrial sectors while also enhancing Altrad’s operations

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Enauta adds on two more wells to Alpha Star contract

March 1, 2022
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Enauta has exercised the option for the Alpha Star drilling rig to drill two wells for Atlanta’s Full Development System, in the Santos Basin, offshore Brazil. Earlier this month it had hired the Alpha Star semi-submersible drilling rig to drill the fourth production well at its Atlanta field in the Santos Basin, offshore Brazil, with an option for two

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Eni to start drilling at Vietnam’s Dan Tranh-1X well late March

March 1, 2022
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Eni Vietnam B.V., a unit of Italian energy group Eni, will start drilling at the Dan Tranh-1X well in Vietnam’s offshore oil block 114 from late this month, state oil firm PetroVietnam said on Tuesday. PetroVietnam will invite Essar to bid for Vietnam’s other offshore blocks late this year or early next year, the company said in a

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