Total (TOTF.PA) is buying Maersk's oil and gas business in a $7.45 billion deal which the French major said would strengthen its operations in the North Sea and raise its output to 3 million barrels per day by 2019. For Danish company A.P. Moller Maersk (MAERSKb.CO), the sale of Maersk Oil, with reserves equivalent to around 1 billion barrels of oil, fits with a strategy of focusing on its shipping business and other activities announced last year. The world's top oil companies have been back on the takeover trail over the last year, helped by signs of a recovery in [...]
Apexindo have picked up a new charter for one of their swamp barges in the Mahakam basin offshore Indonesia. Total, who relinquish the Mahakam PSC on 1st January 2018, have chartered the Maera from 1st July until end December when they hand over the PSC to Pertamina Hulu Energi Mahakam. The rig had completed its previ-ous charter with Total last March. This charter will prob-ably enhance the rigs chances, as a hot rig, of winning one of the two swamp barge requirements by PHE Ma-hakam starting in January 2018. Apexindo have also offered their other two swamp barges, Yani and [...]
The long drawn out story of ExxonMobil’s involvement in the East Natuna Block (sometimes called Natuna D Alpha) which contains one of the world’s largest untapped gas reserves, estimated at 46Tcf may be coming to an end. The US giant has stated that after conducting a technology and market review, it is withdrawing from the development of the field as it has concluded that it is uneconomical under the current terms. The field, discovered in the 1970’s, is in 150m water depths but has a 70% carbon dioxide content and development costs have been projected as being as high as [...]
At Samsung the recent fatal crane accident at Geoje yard has led to Total stating that two of its offshore development projects have been delayed. All work at the yard has been suspended while the investigation into the causes of the accident which killed 6 men is underway. This has delayed the shipping of modules to Norway for the Martin Linge project which in turn has delayed the installation of the modules from summer 2017 to summer 2018 as this can only be performed in the summer months. There has also been a delay, albeit less significant, to Total’s Nigerian [...]
After announcing in January that due to drilling efficiencies the 6-well charter by Total in Brunei of Noble jackup Noble Sam Hartley might end earlier in the first half of 2018 instead of the ex-pected January 2019, Noble have now announced that the charter may end even earlier, as early as late 2017 due to continuing drilling efficiencies. The original term was expected to be 3 years to drill the six wells.
Total is said to be close to finalizing their rig selection for a one well charter for Sarawak Block DW-N which is in 2850m water depths. Total took bids for the 30-45 day program back in March. Commencement is set for November/December this year and an MPD capable semi or drillship is required.
Petronas’ proposed sale of up to a 49% stake in the SK316 gas project offshore Sarawak has now moved into the second round with at least six bidders, including Shell, ExxonMobil, Total, PTTEP and Japanese companies, said to be interested in the stake which has an estimated value of $1bn. Petronas is seeking a partner that can bring the capabilities and technology to explore, develop and efficiently operate the various fields and opportunities in the Block. The sale of a stake in the block has been opposed by the opposition party in Sarawak, supporters of the Prime Minister suggesting the [...]