Oil & gas news

Twinza Oil have announced that they have obtained all internal approvals and executed a series of binding agreements for MRDC to take an up to 50% participating interest in the Pasca A Development Project and for the companies to cooperate in the acquisition and development of other oil and gas assets in Papua New Guinea.

Subsea 7 S.A. has announced the award of a super-major contract by Petrobras, after winning a competitive tender, for the development of the Búzios 9 field located approximately 180 km off the coast of the state of Rio de Janeiro, Brazil, at 2000 m water depth in the pre-salt Santos basin.

ConocoPhillips and Marathon Oil Corporation has announced that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of US$22.5 billion, inclusive of US$5.4 billion of net debt.

Tellurian Inc. and Aethon Energy Management LLC (Aethon) has announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for US$260 million.

Weatherford International has announced it has been awarded a two-year frame agreement extension with Equinor, for the delivery of completions, liner-hangers, and slot recovery services.

The award marks the organisation’s first installation on a jack-up rig in the region as it looks to bolster its presence in the market.

The company has won a tender for the newbuild supply of floating production storage and offloading vessels (FPSO) platforms P-84 and P-85.

India’s Oil and Natural Gas Corporation Limited (ONGC) has moved a record-high 45 drilling rigs to new locations ahead of the Indian monsoon season.

The award leverages an existing long-term contract for the execution of the second stage of Phase 3 for Equinor’s Troll project in the North Sea, offshore Norway.

Prior to his appointment as Chair, Paul was Ipieca’s Vice Chair for two years and has previously served as Chair of Ipieca’s Reporting Working Group.