NEO Energy to double production through acquisition of asset portfolio from ExxonMobil
édité le 25/02/2021 - Plus de news de NEO Energy - Voir la fiche entreprise de NEO Energy
NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil. Following completion, NEOs expected proforma 2021 production will be circa 70,000 barrels of oil equivalent per day (boepd), growing organically to more than 80,000 boepd in 2024 through ongoing field developments. NEO is acquiring a substantial, cash generative portfolio that will significantly increase and diversify its producing asset base. Adding close to 40,000 boepd and more than 140 million boe of reserves, it represents a major step towards NEOs near-term target of producing 120,000 boepd.
Exxon in $1B+ North Sea Deal
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Clare Munro, energy and infrastructure partner and expert in oil and gas at Brodies LLP, discusses the energy market.
It’s been a rollercoaster of a year for the energy market, but even the challenges of a global pandemic can’t suppress activity indefinitely, as demonstrated by deals activity in both oil & gas and renewables.
Last year started well for exploration and production (E&P) mergers and acquisition (M&A) activity on the UK Continental Shelf (UKCS), with multiple sales announced or ongoing, several companies reportedly eyeing IPOs, and the announcement in early January of Premier’s acquisition of both BP’s Andrew and Shearwater assets for £475 million and an increased stake in the Tolmount field from Dana for
Petrofac forms industry alliance to maximise recovery of North Sea reserves
édité le 15/02/2021 - Plus de news de Petrofac - Voir la fiche entreprise de Petrofac
Petrofac, Repsol Sinopec Resources UK and TechnipFMC announce the formation of an innovative industry alliance which seeks to maximise the recovery of oil and gas from the UK Continental Shelf (UKCS).
The partnership will work together to offer the owners of oil and gas discoveries near Repsol Sinopecs existing North Sea infrastructure hubs an integrated, technically robust and commercially flexible solution to meet their near to mid-term development objectives.
Under the terms of the partnership, Petrofac will provide all services associated with topsides engineering and operations support, whilst TechnipFMC will deploy its iFEED® front-end engineering and design solution and its integrated subsea business model, iEPCI. Repsol Sinopec will provide access to its facilities under the industry-led infrastr
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