TGS and Spectrum execute merger agreement and plan
With reference to announcements on 2 May 2019, TGS-NOPEC Geophysical Company and Spectrum have announced that their respective board of directors have unanimously approved and decided upon a final merger agreement and merger plan in line with the terms previously announced. The merger plan is now to be submitted to and registered by the Norwegian […]
Egypt offers 13 LNG cargoes for June-July Idku loading – sources
Egypt’s natural gas company (EGAS) has offered up to 13 liquefied natural gas (LNG) cargoes for loading from the Idku plant over June and July, industry sources said on Wednesday. The cargoes were offered through more than one tender and on a free-on-board (FOB) basis, the two sources said. The tenders close on May 19, […]
Maersk Drilling secures work for three offshore rigs
Maersk Drilling has signed two new contracts and one contract extension since the end of 1Q 2019. One firm three-year contract is with Inpex Australia for the ultra-deepwater semisubmersible Mærsk Deliverer, starting in 2Q 2020, with two one-year extension options. Value of the firm period is $300 million, equivalent to a day rate of $266,200. […]
SDX Energy Chief Executive Officer Paul Welch resigns
Boss of North Africa-focused junior resigns: UK junior SDX Energy is on the hunt for a new chief executive after Paul Welch quit. The London-listed player, which focuses on Egypt and Morocco, said on Friday that Welch “will be resigning as a director, and as president and chief executive officer, of the company with effect […]
August cut-off point for Egypt’s Red Sea Offshore Bid Round
Egypt’s Ministry of Petroleum and Mineral Resources is offering 10 exploration blocks in the Red Sea close to established hydrocarbon production. Closing date for submission of bids is Aug. 1. TGS is supporting the licensing round by making available the following data: 10,318 km (6,411 mi) of Red Sea ’18 (RS18) 2D long-offset broadband seismic, PSTM/PSDM) >16,500 […]
Maridive & Oil Services secures new contract in Mexico worth $27 million
The contract will serve to diversify the Group’s revenue streams and bolster its growing backlog. Maridive & Oil Services Co., one of the largest private offshore marine and oil support services providers in the MENA region by number of vessels, announced today that the Group’s Marine Division has secured a new contract in Mexico for […]
TGS acquires Spectrum to create leading multi-client geophysical data provider
Creating a leading multi-client geophysical data provider in all major mature and frontier basins world-wide Transaction establishes fourth main revenue generating hub and fits well with strategic ambition of growing exposure towards South Atlantic Spectrum owns the world’s largest 2D library, which combined with TGS’s financial robustness facilitate for acceleration of 3D investment plans Scale […]
Wintershall Dea: A New European Oil and Gas Champion
Wintershall and DEA Deutsche Erdoel AG join forces to become Europe’s leading independent gas and oil company. Global portfolio with strong growth prospects. Initial public offering (IPO) envisaged for 2nd half of 2020. Wintershall Holding GmbH (Wintershall) and DEA Deutsche Erdoel AG (DEA) have completed their merger. Wintershall Dea is now the leading independent gas […]
BASF and LetterOne complete merger of Wintershall and DEA
Creation of the largest independent oil and gas company in Europe. On track to reach production target of 750,000 to 800,000 barrels of oil equivalent per day between 2021– 2023, equivalent to an annual production growth rate of 6-8% Synergies of at least €200 million per year. Initial Public Offering envisaged for 2nd half of […]
Sapura Energy secures Gulf of Suez work offshore Egypt
Sapura Offshore Sdn Bhd has received a subcontract from Pan Marine Petroleum Services Co. The work scope includes the installation of six new subsea pipelines in the Gulf of Suez for the Gulf of Suez Petroleum Co., a joint venture between BP plc and Egyptian General Petroleum Corp., the national oil company. Works will be […]
