20 May 2021 10:37 GMT Updated 20 May 2021 10:37 GMT in London
Shell has agreed to sell its operating stake in the giant Malampaya gas field offshore the Philippines in a deal worth up to $460 million.
Taking on the stake from the Anglo-Dutch supermajor is Malampaya Energy XP, a subsidiary of Udenna Corporation the latter a local company owned by Filipino tycoon Dennis Uy.
Through the deal, Shell is divesting its 100% shareholding in Shell Philippines Exploration (Spex), which holds a 45% operating interest in Service Contract 38, which hosts the deep-water producing Malampaya field.
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Empire Petroleum buys US oil and gas assets from ExxonMobil 19 May 2021 (Last Updated May 19th, 2021 15:26)
Empire Petroleum’s subsidiary Empire New Mexico acquires ExxonMobil’s oil and gas assets in New Mexico.
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ExxonMobil sells oil and gas assets in New Mexico, US, to Empire Petroleum. Credit: Colton Sturgeon / Unsplash.
Empire Petroleum has acquired oil and gas assets in New Mexico, US, from ExxonMobil for an undisclosed sum.
The transaction involves producing oil and gas assets and related gathering assets located in Lea County, New Mexico.
The acquisition has been made by Empire Petroleum’s subsidiary Empire New Mexico from ExxonMobil’s XTO Holdings.
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TechnipFMC wins contract with Ithaca for Captain EOR project
Energy service firm TechnipFMC has clinched a contract with Ithaca Energy for the Captain enhanced oil recovery (EOR) project in the UK North Sea.
Updated: 18/05/2021, 7:52 am
Ithaca s Captain field.
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Energy service firm TechnipFMC has clinched a contract with Ithaca Energy for the Captain enhanced oil recovery (EOR) project in the UK North Sea.
TechnipFMC (NYSE, Paris: FTI) has been awarded a significant engineering, procurement, construction, and installation contract.
TechnipFMC (NYSE, Paris: FTI) has announced that it has been awarded a “significant” engineering, procurement, construction, and installation (EPCI) contract from Ithaca Energy (UK) Limited for the Captain Enhanced Oil Recovery (EOR) project in the UK North Sea.
As part of the deal, TechnipFMC will design, manufacture, deliver, and install subsea equipment including a rigid riser caisson, water injection flexible flowline, umbilicals, and associated equipment. TechnipFMC defines a “significant” contract as being worth between $75 million and $250 million.
“We are delighted to support Ithaca Energy on this important EOR expansion of the Captain field, utilizing our innovative design and installation technologies and solutions to unlock and maximize the recovery of hydrocarbons from the UK Continental Shelf,” Jonathan Landes, TechnipFMC’s p