Asset Management
With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.
Despite significant progress in capturing associated gas for domestic use, Iraq remains the world’s third-largest gas-flaring country as it aims for higher oil and gas production targets.
Transaction adds 90,000 net acres and 68,000 BOE/D of production as Crescent expands its South Texas footprint.
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After a line of four discovery wells in Suriname, Total and Apache are going off trend with a well to see if the potentially huge play extends north as well. -
This year gas is expected to look only a bit better, but after 2019 that is a relief.
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The Dutch supermajor will take on a nonoperating stake in the largest exploration block in the North Argentine Basin, which remains largely unexplored.
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Sinopec is moving on to Phase 2 at its Weirong shale-gas development in Sichuan province after having completed Phase 1 by drilling 56 new wells over the past year and building new infrastructure to support increased natural gas production.
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The firm has been working to spin off Technip Energies, creating two companies, with Technip Energies focused on engineering and technology and the remaining TechnipFMC focused on providing integrated technology and services.
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BP agreed 1 year ago to sell its interests to Premier Oil for $625 million. The companies later restructured the deal and BP lowered its cash value to $210 million. The transaction fell through after Premier was taken over by Chrysaor in October 2020.
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On a pro forma basis the newly combined oil company is expected to have an output of around 280,000 B/D, making it one of the top producers in the Permian Basin.
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Within the race for renewables, oil and gas companies are finding themselves in a proverbial rut as they reassess existing profitable models with future energy transition plans. What adds more difficulty is the question of speed in which companies pursue this conundrum.
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Six international and Egyptian companies will search for oil and gas in the Mediterranean and Red Sea with the drilling of 17 new exploration wells.
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Production has started on the Mahani field in Concession Area B of the Sharjah Emirate, the first startup from a new discovery onshore Sharjah in 37 years.
