KARACHI: The Government of Pakistan on Wednesday executed petroleum exploration agreements for one offshore and two onshore blocks with a consortium of state-run and foreign firms, the country’s largest explorer said in a statement. The agreements, signed on Dec. 2, involve the Oil & Gas Development Company Limited (OGDCL), Turkey’s state-owned Turkish Petroleum Oil Company…
OSLO, NORWAY: TietoEVRY has reached an agreement with Aucerna to sell its Oil & Gas software business, a news release said. This divestment is part of the company’s strategy to seek focus and scale. Through this transaction, the Oil & Gas software business will have greater global market reach and growth opportunities. The agreement was…
LONDON: The Weir Group PLC has completed the sale of its Oil & Gas division to Caterpillar Inc., a news release said. The sale, for an enterprise value of $405m, subject to customary working capital and debt-like adjustments, was first announced on 5 October 2020 and approved by Weir Shareholders on 23 November 2020. Since…
MOSCOW: HMS Group has signed Rub 1.4 billion contract to engineer and manufacture skids, vessels and a refrigerant compressor. The oil & gas equipment is to be delivered in 2020-2021 and installed at the client’s facility in southeast Siberia. HMS Group is the leading pump and compressor manufacturer, as well as the provider of flow…
LONDON: Zenith Energy Ltd., an oil & gas production company focused on pursuing African development opportunities, announced that its newly created wholly owned subsidiary Zenith Energy Netherlands B.V. has signed a conditional sale and purchase agreement with KUFPEC (Tunisia) Limited for the acquisition of a working interest in the North Kairouan permit and the Sidi…
ASKER, NORWAY: TGS and Fairfield Geotechnologies have agreed to acquire a new multi-client survey within the previously announced Area of Mutual Interest (AMI) established between the two companies in June 2018. TGS provides multi-client geoscience data to oil and gas exploration and production companies worldwide. In addition to extensive global geophysical and geological data libraries…
LONDON: Bowleven Plc, the Africa focused oil and gas exploration group, has confirmed the signing of a non-binding Letter of Intent (LOI) between Victoria Oil & Gas Plc (VOG) and New Age Ltd, for the supply of gas from the Etinde Field, offshore Cameroon. Under the terms of the LOI, VOG and New Age will…
LONDON, UK: ADES International Holding has secured a contract renewal for ADMARINE 262. ADMARINE 262 renewal has a five-year tenor, which will be effective upon the expiry of the current contract in April 2020, and will have a higher daily rate. Commenting on the contract award, Dr. Mohamed Farouk, Chief Executive Officer of ADES International…
LONDON: Zenith Energy Ltd has decided to discontinue its plans to acquire a Norwegian oil & gas company, Nordic Petroleum AS, by way of an exchange of equity as announced on November 4, 2019. Due to unexpected complications and potentially high costs to complete the Proposed Acquisition, the Board has decided not to proceed with…
LONDON: Echo Energy, the Latin American-focused upstream oil and gas company, announced that the acquisition by the Company of a 70 percent initially non-operated working interest in the Santa Cruz Sur package of five mature producing blocks, from Petrolera El Trebol SA, a subsidiary of Phoenix Global Resources plc has now completed. Martin Hull, Chief…
SINGAPORE: Rex International Holding Limited, a technology-driven oil company, has announced that the operator, PGNiG Upstream Norway has completed drilling of an exploration well and an appraisal well on the Shrek prospect in the Norwegian Sea licence as an oil and gas discovery. PGNiG’s preliminary estimates place the size of the discovery between 3 and…
LONDON: Cadogan Petroleum plc, an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, has reached an agreement with Ukrinvest Group for the sale of Gazvydobuvannya LLC for a total consideration of $2.8 million. Gazvydobuvannya LLC is one of two wholly owned subsidiaries, based in the East of…