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Saudi Aramco concludes stake purchase in Arlanxeo chemicals JV
Jan. 3, 2019

Saudi Aramco concludes stake purchase in Arlanxeo chemicals JV

Saudi Aramco has concluded the purchase of 50% stakes in the Netherlands-based Arlanxeo joint venture (JV). Aramco has now gained full ownership of the synthetic rubber company. The oil major bought the stakes from Lanxess in a €1.5bn deal. Proceedings from the transaction will allow Lanxess to reduce financial debt. Arlanxeo, which produces synthetic rubber and elastomers, will operate as a wholly owned subsidiary of Saudi Aramco.

Shell concludes sale of New Zealand entities
Dec. 29, 2018
Source: Advertisement

Shell concludes sale of New Zealand entities

Staying consistent with its divestment campaign, supermajor Shell has concluded the $578 million-sale of shares in its New Zealand entities to OMV. Shell has farmed out its assets in Māui, Pohokura, and Tank Farm. Shell’s interest in the Great South basin venture was sold under a separate agreement. Employees of Shell Taranaki Limited and Shell NZ 2011 Limited will become part of OMV New Zealand.

Resman acquires Restrack
Dec. 20, 2018
Source: World Oil

Resman acquires Restrack

Norway-based Resman AS has entered in a share purchase agreement to acquire tracer service provider, Restrack. The merger move will combine Resman’s reservoir monitoring and intelligent chemical tracer systems and Restrack’s full portfolio of integrated tracer services. This will allow them to provide even more detailed information to operators on their reservoirs and wells.

Qatar Petroleum to acquire Eni’s stakes in Mexican oilfields
Dec. 17, 2018
Source: Reuters

Qatar Petroleum to acquire Eni’s stakes in Mexican oilfields

Qatar Petroleum (QP) yesterday entered into an agreement with Italian energy multinational, ENI to acquire stakes in three oilfields, offshore Mexico. Briefing at a news conference in Doha, QP CEO Saad al-Kaabi informed about QP acquiring 35% stakes in in the Mexican oilfields. Production at these fields is projected to commence by mid-2019, which will be then ramped up to 90,000 bpd by 2021.

Ithaca wraps up Greater Stella acquisitions
Dec. 13, 2018
Source: Energy Voice

Ithaca wraps up Greater Stella acquisitions

Ithaca Energy has concluded its planned stakes acquisitions in the Greater Stella Area from Petrofac and Dyas. The £228 million worth of transaction will gain Ithaca the ownership of Petrofac’s 20% stakes in the central North Sea production hub. Petrofac will also sell its 24.8% interest in the FPF1 floating production facility to Ithaca. Apart from Petrofac, Aberdeen-based Ithaca also acquired 25% stakes of Dyas UK.

Qatar Petroleum's first foray into Mozambique's offshore basins
Dec. 11, 2018

Qatar Petroleum's first foray into Mozambique's offshore basins

Qatar Petroleum has inked an agreement to buy ExxonMobil’s10% stakes in three blocks in Mozambique. The ExxonMobil affiliate currently owns 60% interest in the blocks. This is Qatar Petroleum’s first expedition into Mozambique’s offshore basins. ENH and Rosneft’s affiliates are the other stakeholders in the block, with each of them owning 20% interest.

EnQuest concludes Magnus’ acquisition
Dec. 4, 2018
Source: Energy Voice

EnQuest concludes Magnus’ acquisition

UK-based EnQuest has concluded the acquisition of BP’s remaining 75% stakes in the Magnus oil field in £230 million. Additional 9% of the Sullom Voe Oil terminal and two pipeline systems was also sold to EnQuest. The deal will add 60 million barrels of oil equivalent (boe) to EnQuest’s reserves portfolio. EnQuest had acquired 25% stakes in Magnus in December 2017.

Shell to farm out stakes in Greater Sunrise
Nov. 22, 2018
Source: Energy Voice

Shell to farm out stakes in Greater Sunrise

In another major divestment move, Royal Dutch Shell has farmed out its stakes in the Greater Sunrise fields for £235 million. Southeast Asian nation, Timor-Leste will buy Shell’s 26.56% interest in the Sunrise and Troubadour gas and condensate fields. Timor-Leste will gain ownership of Shell’s permits NT/RL2 and NT/RL4 within Australian waters and PSC 03-19 and PSC 03-20 within Timor-Leste waters and associated governance agreements.

ACCC approves Quadrant’s acquisition
Nov. 19, 2018
Source: World Oil

ACCC approves Quadrant’s acquisition

Santos announced the proposed acquisition of Quadrant Energy on 22 August 2018. The company has now informed that the pre-condition of Australian Competition and Consumer Division for the completion of acquisition has been fulfilled and the completion might occur within weeks. CEO of Santos said “We already have very significant growth projects across our five core assets, and Quadrant’s recent oil discovery at Dorado is another exciting opportunity for us,”

Encana buys out Newfield
Nov. 2, 2018
Source: World Oil

Encana buys out Newfield

Canada’s Encana Corp has entered into a buyout agreement to acquire U.S. shale producer, Newfield Exploration. The $5.5 billion acquisition is a total reversal on Encana’s years of narrowing its oil and gas holdings. The Canadian oil and gas firm will gain stakes in the STACK and SCOOP shale fields in Oklahoma, the Uinta play in Utah and the Bakken region of North Dakota.

Fairfield sells Seismic Technologies business to Magseis
Nov. 1, 2018
Source: World Oil

Fairfield sells Seismic Technologies business to Magseis

Houston-based Fairfield Geotechnologies has farmed out its Seismic Technologies business. The firm informed today that it entered into an agreement with Norway-based Magseis ASA. Fairfield’s Seismic Technologies business comprises of data acquisition, nodal and system sale & rental activities. Magseis will also get ownership of all shares in Fairfield's wholly-owned, WGP Group.

ROVOP buys out an entire ROV fleet
Oct. 23, 2018
Source: ROVOP

ROVOP buys out an entire ROV fleet

Aberdeen-based ROVOP acquired M2 Subsea’s entire fleet of 28 ROV systems. The fleet acquisition is in line with ROVOP’s growth strategy to offer a focused ROV service to its customers regardless of markets and geographies. While 19 of the ROV systems qualifies the ROVOP standard and will be added to its fleet, the remaining ROVs will be either decommissioned or sold.

WorleyParsons to acquire Jacobs’ assets
Oct. 22, 2018
Source: Reuters

WorleyParsons to acquire Jacobs’ assets

Australian engineering firm, WorleyParsons has entered into a deal to acquire Jacobs Engineering’s energy, chemicals and resources business for $3.3 billion. Jacobs will now focus on higher growth, higher margin lines of business including aerospace, technology, environment and nuclear projects and buildings, infrastructure and advanced facilities. The transaction will take place through a $2.06 billion entitlement offer and a $700 million stock issuance to Jacobs and new debt.

Equinor sells interests in the Tommeliten discovery
Oct. 20, 2018
Source: World Oil

Equinor sells interests in the Tommeliten discovery

Norwegian oil major, Equinor has entered into an agreement to farm out its non-operated interests in the Tommeliten discovery to PGNiG. The Tommeliten field, containing gas/condensate, was discovered in 1976. This $220 million transaction follows the recent sale of Equinor’s King Lear discovery to Aker BP. Equinor will also divest its 30% stakes in another block of acreage. ConocoPhillips is the operator of both the blocks.

Shell to farm out Denmark’s upstream division
Oct. 18, 2018
Source: Energy Voice

Shell to farm out Denmark’s upstream division

Oil supermajor, Shell has entered into an agreement to sell its wholly-owned subsidiary in Denmark, Shell Olie-og Gasudvinding Danmark (SOGU), to Norwegian Energy Company (Noreco). SOGU has 36.8% ownership in the Danish Underground Consortium (DUC), which accounts for 90% of Denmark’s oil and gas production. Shell is seeking to simplify its portfolio as part of a $30billion divestment plan.

Nine Energy acquires Magnum
Oct. 17, 2018
Source: World Oil

Nine Energy acquires Magnum

Houston’s Nine Energy Service acquired downhole technology provider company, Magnum Oil Tools International. With this acquisition, Nine Energy becomes one of the premier providers of completion focused technology. Magnum has a large scale of proprietary downhole completion products like dissolvable and composite frac plugs, and other patented consumables. Nine’s President and CEO commented, “We could not be more thrilled to partner with Magnum.”

Carlyle Group buys out EnerMech
Oct. 16, 2018
Source: Energy Voice

Carlyle Group buys out EnerMech

Offshore services firm, EnerMech was acquired by private equity firm, Carlyle Group in a $450 million buy-out deal. EnerMech is involved in large scale projects across the sectors of oil and gas, renewables, defence, power, infrastructure and petrochemicals. The firm registered group turnover of £361.4 million in 2017. Final transaction is expected in 4Q2018.

Aker BP buys King Lear from Equinor
Oct. 16, 2018
Source: Energy Voice

Aker BP buys King Lear from Equinor

Norwegian oil giant, Equinor has sold its 77.8% interests in the King Lear discovery to Aker BP in a multi-million dollar deal. First discovered in 1989, King Lear is a gas /condensate asset in the North Sea. Net recoverable resources are estimated at 77 million barrels of oil equivalent. The final transaction in this regard is subject to customary conditions.

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