1. Subsea 7 won a huge contract with Petrobras
Subsea 7 disclosed on Monday that it has won a huge contract between us $500 million and US $750 million from Petrobras to develop the mero-3 oil field off the coast of Brazil.
The scope of the contract includes the design, manufacture, installation and pre commissioning of 80 km of rigid risers and outlet pipes, 60 km of flexible service lines, 50 km of umbilical cables and related infrastructure, as well as the installation of FPSO mooring lines and connections.
2. Capote oil & gas and cimarex energy will merge to form a company with a market value of about 17 billion US dollars
Oil and gas producers Cabot oil & gas and cimarex Energy said on Monday they would merge all shares equally to form a business with a market value of about $17 billion, and the merger is expected to be completed in the fourth quarter of 2021. Cabot’s assets are located in the most productive areas of major gas basins in the United States, while cimarex’s assets are located in the most productive areas of major oil basins in the United States.
3. Shell to sell interest in Deer Park refinery to partner Pemex
Rds.a.us has agreed to sell its 50% stake in the deer park refinery in Texas to its joint venture partner Pemex for $596 million (including cash and debt, plus the value of hydrocarbon inventories). The deal is expected to close in the fourth quarter of 2021.
4. Tailwind energy agreed to sell Conwy oilfield to Eni group
Tailwind energy has agreed to sell its full working interest in Conwy oilfield to Eni UK with effect from July 1, 2021, subject to regulatory approval. In 2018, tailwind energy acquired 100% of the exploitation rights of Conwy oilfield project as part of the acquisition of EOG’s business in the UK.
5. BP exits shell’s shearwater field
Oil and gas company tailwind energy has agreed to acquire BP’s full working interest in shell run shearwater oil field in the North Sea, UK. Sherwater was put into operation in 2000 and is still one of the largest oil fields in the North Sea.
6. ADNOC will build a large-scale blue ammonia facility in ruwais
Abu Dhabi National Oil Company (ADNOC) will develop a large-scale blue ammonia project in ruwais, its downstream hub, to promote the UAE’s hydrogen economic growth. The project is currently in the design stage, with an annual production capacity of 10 million tons.
Blue ammonia is a more transportable fuel made from blue hydrogen, which is a by-product of carbon dioxide captured and stored. The blue part of the product refers to the hydrogen extracted from the natural gas raw material.
7. Lundin energy 16 / 1-34 s Drilling license approved
Recently, the Norwegian Petroleum Authority issued a drilling license to Lundin energy Norway for the drilling of 16 / 1-34 s evaluation well of PL 167 production license. Lundin energy Norway is the operator under the license, with a 40% stake.
Post time: May-25-2021