News - Upstream

MEG Energy turns down $5bn takeover offer from Husky Energy

Canadian oil sands producer MEG Energy has turned down a recently made C$6.4bn ($5bn) takeover proposal from Husky Energy.

Equinor to sell stake in Tommeliten discovery to PGNiG

Equinor has agreed to offload its non-operated stake in the Tommeliten Alpha field in the southern part of the Norwegian Continental Shelf (NCS) to Polish state-controlled oil and gas company PGNiG for $220m.

Earthstone Energy to buy Sabalo’s Midland Basin assets for $950m

Texas-based Earthstone Energy has agreed to acquire certain oil and gas assets in the northern Midland Basin in the US from Sabalo Holdings for around $950m.

Dril-Quip set to get FEED contract for Premier’s Sea Lion Phase 1 project

Dril-Quip has signed a front end engineering and design (FEED) contract and frame agreement with Premier Oil Exploration and Production to deliver subsea production systems for the Sea Lion Phase 1 development offshore the Falkland Islands, off the Argentinean coast.

Eni bags rights for deep offshore block A5-A in Mozambique

Eni in consortium with South Africa-based Sasol has bagged exploration and development rights for deep offshore block A5-A in Mozambican waters.

Noreco to acquire Shell’s upstream business in Denmark for $1.9bn

Royal Dutch Shell, through its wholly-owned subsidiary Shell Overseas Holdings, has signed an agreement with Norwegian Energy Company (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark (SOGU) for $1.9bn.

Crogga wins exploration rights for hydrocarbons in Manx waters

The government of Isle of Man said that it has awarded an oil and gas exploration license for a part of the country’s seabed to a local company.

McDermott commences fabrication work for $3.3bn Tyra Redevelopment project

McDermott International has commenced fabrication work for the Danish Underground Consortium’s (DUC) $3.36bn Tyra Redevelopment project in the Danish North Sea.

Lukoil begins construction on infrastructure facilities at Rakushechnoye field

Russian energy giant Lukoil has started construction of infrastructure facilities associated with the Rakushechnoye field development project in the Caspian Sea.