Eni and Total won operator rights to blocks 28 and 29 respectively in the offshore Namibe basin, while Angola’s state oil company Sonangol and Equinor and BP were awarded smaller stakes.
The assets to be sold by BP include its interests in the Andrew area in the central UK North Sea and its non-operating interest in the Shearwater field.
The contract for the semi-submersible rig Maersk Discoverer has an estimated duration of 322 days and is expected to commence in July 2020.
Three appraisal wells drilled this year, GTA-1, Yakaar-2 and Orca-1, targeted a total of nine hydrocarbon-bearing zones. The wells encountered gas in high quality reservoirs in all nine zones.
The three-year contract will support both onshore and offshore activity for BP operated projects in the Caspian Sea area including Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan (BTC), South Caucasus Pipeline (SCP) and Western Route Export Pipeline (WREP).
The contract will see Aker Solutions deliver front-end engineering and design (FEED) for the first platform in a potential series of future assets within BP’s Trinidad and Tobago (BPTT) portfolio.
The company’s latest research reveals that the West of Shetland (WoS) area retains the attention of major exploration and production (E&P) players in the region.
Dragon Oil will invest US$1 billion over five years to boost and extend the production of the oil concessions in Egypt's Gulf of Suez.
According to Rystad Energy, BP has seen the most resource growth from mergers and acquisitions (M&A) across all supply segments, adding nearly 6.5 billion boe. Conversely, Shell has shed almost 11 billion boe since 2015 (excluding the effect of Shell’s 2015 acquisition of BG Group).