Equinor Acquires New Canadian Offshore Licenses
Equinor has successfully bid on new exploration parcels in the Jeanne d’Arc basin offshore Newfoundland, boosting its Canadian portfolio. The company said it will operate two exploration parcels totaling 1,593 square miles and will have a minority ownership stake in another parcel operated by Suncor Energy.
“These exploration investments provide Equinor an important opportunity to advance our position in a region where we have a well-established exploration portfolio while we continue to evaluate and mature our existing exploration assets in the Flemish Pass Basin,” Equinor executive vice president for exploration Tim Dodson said in a statement.
Equinor has been active offshore Newfoundland and Labrador in recent years. It operates five discoveries in the Flemish Pass Basin: Mizzen, Harpoon, Bay du Nord, Bay du Verde, and Baccalieu. Each field is located in a water depth of approximately 3,600 ft.
The company also holds a working interest in ExxonMobil-operated Hebron field, which produced first oil in November 2017, and the Hibernia asset, also operated by ExxonMobil. Hibernia has proven and probable field reserves totaling approximately 1.35 billion bbl of recoverable crude oil, making it Newfoundland’s largest-producing field. Hebron is expected to be the second-largest field in production offshore Newfoundland, with an expected lifetime production of more than 700 million bbl of recoverable oil.
Santos P'nyang Farm-In Advances PNG LNG Expansion
Santos signed a binding letter of intent to acquire a 14.3% interest in Petroleum Retention Licence 3, which contains the P’nyang natural gas field in Papua New Guinea.
Venture Capital Fuels the Digital Deepwater Oil Field
The technologies born out of innovative ideas have been critical for advancing deepwater assets in the past, and venture-capital investment helps incubate risk-taking companies developing those technologies. With digitization becoming a greater focus in industry, what role will venture capital play?
Transactions Solidify Shifting Jacobs Position
A merger with KeyW and the completion of the sale of its energy and chemical segment to WorleyParsons align with the service company’s decision to focus on its higher-growth, higher-margin lines of business.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
15 May 2019
15 May 2019