Deals/mergers

Total agrees with Occidental to acquisition of Anadarko's assets in Africa

Submitted by Mark Venables on 23rd May 2019

23rd May 2019

Total has announced that it has reached a binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) for a consideration of $8.8 billion in the event of a successful completion of Occidental’s ongoing bid for Anadarko.

Saudi Aramco signs share purchase agreement to acquire majority stake in Sabic

Submitted by Mark Venables on 28th March 2019

28th March 2019

Saudi Aramco signs share purchase agreement to acquire 70% majority stake in SABIC

Sabic announced that Saudi Aramco signed today a share purchase agreement to acquire a 70% majority stake in Sabic from the Public Investment Fund of Saudi Arabia in a private transaction.

Shell completes sale of stake in Thailand’s Bongkot field to PTTEP

Submitted by Mark Venables on 14th July 2018

14th July 2018

Shell has announced today that its affiliates, Shell Integrated Gas Thailand and Thai Energy Company, have completed the sale of their 22.2222% interest in the Bongkot field and adjoining acreage offshore Thailand to PTT Exploration & Production Public Company Limited (PTTEP) and PTTEP International Limited, a wholly-owned subsidiary of PTTEP, for a transaction value of $750 million.

Shell completes sale of its stake in Iraq’s West Gurna 1 oil field to Itochu

Submitted by Mark Venables on 5th April 2018

05th April 2018

Shell EP Middle East Holdings has completed the sale of the entire share capital of Shell Iraq (SIBV), which held its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of ITOCHU Corporation.

Multinational companies could be sitting on a 'Leaseberg' of huge proportions

Submitted by Editorial staff on 28th February 2018

28th February 2018

New lease accounting rules (ASC 842, IFRS 16) will dramatically increase companies’ reported liabilities

Noske-Kaeser merges with ENGIE Axima

Submitted by Editorial staff on 23rd January 2018

23rd January 2018

After merger: NOSKE-KAESER provides excellent climate and maximum safety on board in the future as well.

Statoil acquires 25 per cent of the Roncador field in Brazil to increase recovery

Submitted by Mark Venables on 19th December 2017

19th December 2017

Statoil and Petrobras have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil.

Aker Solutions secures two global engineering framework accords from BP

Submitted by Mark Venables on 14th February 2017

14th February 2017

Aker Solutions has secured new contracts from BP

Aker Solutions was awarded two framework agreements to provide concept and front-end engineering (FEED) services for BP globally.

Shell to sell package of UK North Sea assets to Chrysaor

Submitted by Mark Venables on 31st January 2017

31st January 2017

Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to $3.8bn, including an initial consideration of $3.0bn and a payment of up to $600m between 2018-2021 subject to commodity price, with potential further payments of up to $180m for future discoveries.

BP and GE launch new offshore digital technology with plans to deploy globally

Submitted by Mark Venables on 29th January 2017

29th January 2017

BP and GE launch new offshore digital technology

BP and GE announced the start-up of Plant Operations Advisor (POA), a new digital solution designed to improve the efficiency, reliability and safety of BP’s oil and gas production operations.