The winning companies offered bids totalling US$724 million, the government said in official statements, and won the rights to explore for up to 13 years in areas of the South Atlantic.
The company’s latest research reveals the top five companies with the greatest ABEX exposure from producing fields in the UK.
Sabah Shell Petroleum Company Ltd, a subsidiary of Royal Dutch Shell, has signed an offshore master service agreement (MSA) with BMT.
“Through this transformational acquisition, Noreco will become the second largest oil and gas producer in Denmark and establish itself as a considerable exploration and production company in the North Sea,” said Riulf Rustad, Chairman of the Board of Noreco.
The transaction increases Pin Oak Energy’s acreage position across the Appalachian Basin to 167 000 net deep acres.
A total new-build capital expenditure (CAPEX) of US$846 billion is expected to be spent globally on planned and announced upstream projects from 2019 to 2025.
The contract with Shell involves a team which will deliver an integrated verification and class project for the operator's Penguins floating production storage and offloading (FPSO) vessel.
A Rystad Energy review of the performance of their recent projects against those of other operators shows that the three European oil giants have outperformed their peers.