1. ConocoPhillips announced a major discovery in the Norwegian Sea
ConocoPhillips recently announced that it has discovered a “significant” new oil field in the Norwegian Sea, located in the slague exploration area 14 miles north northeast of Heidrun oil field. It is estimated that the recoverable oil equivalent is between 75 million barrels and 200 million barrels, which is the largest discovery this year. ConocoPhillips is one of the largest operators of the Norwegian continental shelf. The discovery is the fourth well ConocoPhillips has successfully explored in the Norwegian continental shelf in the past 16 months.
2. Weir won $70 million Thailand wellhead and christmas tree orders
Weir oil & gas, an upstream supplier of pressure pumps and pressure control equipment and services, recently signed a five-year, US $70 million contract with PTT exploration and production company (PTT’s subsidiary) to provide and install 1800 wellhead and Christmas trees for the Gulf of Thailand area. The agreement is one of the largest recent projects in Southeast Asia.
3. ADNOC awarded Eni and pttep consortium offshore exploration block
The national oil company of Abu Dhabi (ADNOC) announced that it would grant the exploration right of Abu Dhabi offshore block 3 to a consortium led by Eni of Italy and pttep of PTT of Thailand. This highlights the continued use and strengthening of ADNOC’s strategic partnership to accelerate the exploration and development of oil and gas resources in Abu Dhabi.
4. Shell sells $2.5 billion Australian LNG stake to GIP
Royal Dutch Shell agreed to sell a 26.25% interest in the Queensland Curtis LNG utility to global infrastructure partners (GIP) for $2.5 billion, which is expected to be completed in the first half of 2021, Royal Dutch Shell said in a statement on Monday. Currently, the oil giant is planning to divest $4bn a year to shore up its balance sheet.
5. Sasol sells natural gas power plant in Mozambique
Sasol, the South African oil company, announced that it had reached an agreement to sell its 49% stake in central termica de ressano Garcia, Mozambique’s first permanent large gas-fired power plant. The company is seeking to shore up its finances with billions of dollars in divestitures.
6. National Oilwell Varco will be renamed Nov Inc soon
National Oilwell Varco Inc. has disclosed plans to change its name to Nov Inc. from January 1, 2021. He said the change is to adapt to the new trend of expanding the world’s energy portfolio to low-carbon energy, reflecting Nov’s broad mission in the energy field – to continue to promote economic efficiency and security.
7. Shell’s write down could soar to $22 billion in 2020
Shell warned the market on Monday that it would include an extra $4.5 billion in after tax expenses in the fourth quarter, which would cause the super oil giant to write down more than $22 billion in total assets, during which the big oil companies slashed their oil and gas assets.
8. Diamondback energy acquired guidon operating LLC for $862 million
Diamondback, an independent U.S. oil and gas company, said it would acquire guidon operating LLC in a cash and equity transaction at a valuation of about $862 million. Upon completion of the acquisition, diamondback’s total leasehold interest in Midland basin will increase to 276000 acres of net surface area, which will enhance Diamondback’s position in the Permian Basin.
Post time: Dec-23-2020