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Acquisitions and Divestitures News

Equinor Focuses NCS Portfolio through Sale of Non-Core Discovery
Norway >> 10/15/2018 - Equinor has signed an agreement with Aker BP to sell its 77.8% operated interest in the King Lear discovery on the Norwegian Continental Shelf (NCS) for a total of USD 250 million. ...
Maurel & Prom Will Acquise Shell’s Stake in Urdaneta West Field
Venezuela >> 10/12/2018 - Etablissements Maurel & Prom notes recent press articles and confirms it is working on the acquisition of Shell Exploration and Production Investments B.V.’s (Shell) 40% interest as “Shareholder B” in...
QGEP Announces Relinquishment of Camarao Norte Discovery
Brazil >> 10/11/2018 - QGEP Participacoes S.A. (QGEP), announced that the Consortium of Block BCAM-40 has begun the relinquishment process with the National Agency of Petroleum, Natural Gas and Biofuels (ANP) of the Camar...
Po Valley Fully Retains North Italian Oil Assets
Italy >> 10/11/2018 - Po Valley Energy is to retain full ownership of two onshore oil fields in northern Italy after their sale to a private London-based resources company, Delta Energy, was blocked by one of Delta’s large...
Chevron Becomes First Oil Major to Exit Norway
Norway >> 10/10/2018 - U.S. oil firm Chevron (CVX.N) will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government...
Serica Energy Receives OFAC License & Assurance for Rhum
United Kingdom >> 10/9/2018 - AIM-listed Serica Energy has announced that its wholly owned subsidiary,Serica Energy (UK) and BP have received a conditional License and assurance from the U.S. Office of Foreign Assets Control ('OFA...
Hibiscus Petroleum to Acquire Interest & Operatorship in 2 Discovered Oil Fields Offshore UK
United Kingdom >> 10/9/2018 - Hibiscus Petroleum has announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK ('AHUK'), has entered into a conditional sale and purchase agreement with Caldera Petroleum (UK)to acqu...
Petrosen Seeks Tenders for Disputed Block Offshore Senegal
Senegal >> 10/8/2018 - African Petroleum, an independent oil and gas exploration company with licence interests in offshore West Africa, notes the recent update issued by Petrosen which states that it is seeking tenders for...
Beach Energy Agrees to Sell 40% of its Victorian Otway Interests to Eyal Ofer’s O.G. Energy
Australia >> 10/5/2018 - Beach Energy Limited and Eyal Ofer’s O.G. Energy Holdings Ltd., a member of the Ofer Global group of companies, announce that they have entered into a binding agreement whereby O.G Energy will acquire...
Argos to Take PL001 Licence Reassignment Following Withdrawal of Noble Energy and Edison
Falkland Islands >> 10/4/2018 - Argos Resources Limited, the Falkland Island based exploration company which holds a 5% Overriding Royalty Interest in Licence PL001 in the North Falkland Basin, announces that its Working Interest pa...
Gazprom & OMV Sign Basic Agreement on Asset Sale
Russia >> 10/3/2018 - Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, today signed in St. Petersburg a Basic Agreement on Asset Sale. ...
Lundin Aannounces Acquisition Consolidating the Luno II & Edvard Grieg Ownerships
Norway >> 10/3/2018 - Lundin Petroleum has announced that its wholly-owned subsidiary Lundin Norway has entered into an agreement with Equinor under which Lundin Norway will acquire Equinor’s entire 15 percent working inte...
Marathon Oil Looks to Exit North Sea, Joining other U.S. Rivals
Norway >> 10/3/2018 - Marathon Oil has launched the sale of its British North Sea oil and gas fields, a document seen by Reuters showed, the latest U.S. firm to retreat from the basin to focus on onshore shale production a...
OMV to Purchase a 24.98% Interest in Achimov IV & V Phase Development
Russia >> 10/3/2018 - OMV and Gazprom have signed a 'Basic Sale Agreement' which foresees a potential acquisition of a 24.98% interest in the Achimov IV and V phase development in the Urengoy gas and condensate field by OM...
Rex on Track to Achieve Production in Oman Block in 2019
Oman >> 10/2/2018 - Rex International Holding Limited was looking to farm-out a substantial equity interest in Block 50 Oman (in which it holds a 92.65 per cent indirect stake), is now considering to maintain a high equi...
Acquisition of Net Profits Interests in 3 UK Petroleum Licences
United Kingdom >> 10/2/2018 - The Board of Westmount is pleased to announce the acquisition of net profits interests ("NPI") in three offshore UK petroleum licences previously held by Infrastrata Plc ("Infrastrata"). The transacti...
Encana to Sell San Juan Assets to DJR Energy for $480 million
United States >> 10/1/2018 - Encana Corporation, announced that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has reached an agreement to sell its San Juan assets, located in New Mexico for US$480 million to Denver-ba...
ConocoPhillips Enters Agreement to Sell Interest in Greater Sunrise Fields
Portugal >> 10/1/2018 - ConocoPhillips has entered into an agreement to sell to the government of Timor-Leste its 30 percent interest in the Greater Sunrise Fields. The total sales price of the transaction, which is conditio...
Equinor Acquires a 40% Stake in the Rosebank Project in UK
United Kingdom >> 10/1/2018 - Equinor has signed an agreement to acquire Chevron’s 40% operated interest in the Rosebank project, one of the largest undeveloped fields on the UK Continental Shelf (UKCS). Once concluded, the transa...
Vitol to Acquire 50% in Brazilian Downstream Company Rodoil
Brazil >> 10/1/2018 - Vitol has agreed to acquire 50% of Brazilian downstream company Rodoil for an undisclosed sum. Rodoil is a market leader in the southern part of Brazil with a downstream network comprising some 300 br...

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