NEO Energy and HitecVision have announced the signing of a transaction that puts NEO Energy among the top five oil and gas companies in the UK. NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil.
Taking the operations of one of the Middle East’s biggest upstream projects into a new era, Petrofac s Lower Fars heavy oil development project team has completed the successful integration of Kuwait Oil Company’s new Crude Oil Control Centre, where Petrofac’s expertise has been used to upgrade technology and equipment, improving the effectiveness of operations.
Developing Telecoms
Newsletter Sign Up
Keep up-to-date with the latest telecoms news in emerging markets globally. Subscribe to Developing Telecoms FREE weekly newsletter.
Afghanistan
Bosnia and Herzegowina
Cook Islands
Samoa
South Sudan, Republic of
Sweden
Uruguay
Business/Industry/Finance User
Your personal data will not be shared with third parties. Click here to view our privacy policy.
2158
Guyana’s prime minister has signed an exemption order for small local internet service providers in a bid to issue them licences more quickly.
Prime Minister Mark Phillips was quoted by local news outlet Demerara Waves as saying that the order would “prevent them from having to go through a long process to be granted a licence. They just have to register and pay the necessary fees associated with the service. These are the small providers who will buy and sell services and are going the extra mile, especially in the areas where the big companies may not necessarily want
Nigeria: LEKOIL provides update on Cost and Revenue Sharing Agreement for OPL 310
24 Feb 2021
LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, has announced that
Mayfair Assets and Trusts, in which the Company has a 90 per cent economic interest, has received a letter from
Optimum Petroleum Development Company, the Operator of the
OPL 310
Cost and Revenue Sharing Agreement ( CRSA ) executed for OPL 310.
As announced on 11 December 2020, Optimum conveyed its enforcement of the default clause within the CRSA. Pursuant to the CRSA, the default clause stipulates that, following a cure period, if a default has occurred, Optimum and Mayfair shall jointly seek and agree on a buyer to whom Mayfair s 17.14% Participating Interest as well as the financial obligation within OPL 310 will be transferred. Mayfair will also be entitled to a full reimbursement of all amounts due to it, as a result of past costs spent on the asset, from fut