Asset/portfolio management
The sale of Woodside’s Calypso stake to BP completes the company’s withdrawal from Trinidad and Tobago after decades of operations in the country.
Sixteen companies submitted 69 bids worth $99.5 million in the Big Beautiful Gulf 3 sale.
Hungary’s MOL Group captures a major project within the EU and its largest upstream opportunity since it farmed into in Azerbaijan’s ACG offshore field.
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The new plan will replace the current roadmap that contains just three planned Gulf of Mexico lease sales. -
Stonepeak will pay $5.7 billion for 40% interest in the project due for FID later this year.
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The acquisition expands INEOS’s US upstream footprint and gives it a minority stake in a pair of deepwater Gulf of Mexico producing fields.
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In the next 3 to 5 years, South America and the Middle East will lead global investment, driven by greenfield developments, exploration, and midstream infrastructure. Brazil’s growth is fueled by deepwater pre-salt projects, while the Middle East focuses on gas and LNG, especially in Qatar, Saudi Arabia, and the UAE.
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The $1.65 billion deal adds to Vitol’s presence in the West African upstream while enabling Eni to cash out early on the value of some assets while retaining an interest in future revenues.
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The combined group will be renamed NEO NEXT Energy and is expected to become one of the largest independent producers in the North Sea.
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The $206 million deal for the fields offshore Trinidad and Tobago is expected to close in the third quarter of 2025.
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Assets include regasification and power generation facilities along with associated pipelines.
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The supermajor believes oil and gas will continue to play a major role in the global energy mix over the next 25 years.
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Industry leaders say they believe oil and gas will continue to play a pivotal role in the energy mix in the lengthening energy transition timeline.
