Cap set to join hunt offshore Guinea-Bissau

Offshore staff

LONDON -- Cap Energy has agreed to acquire majority shares in Sphere Petroleum.

Sphere holds interests in two exploration licenses offshore Guinea-Bissau in block 1 (Corvina) and block 5b (Becuda).

Assuming completion of the acquisition, expected by end-March, Cap will pay $1.1 million in three installments, and up to $1.9 million more to cover Sphere’s past costs of and continuing obligations in respect of these licenses.

3/7/2013

Related Articles

Norwegian license winners outline prospects, work plans

Jan 22, 2015

Statoil has issued details of its new licenses under Norway’s Awards in Predefined Areas 2014 (APA 2014) Round.

Cooper, Santos to progress Sole gas studies in Gippsland basin

Jan 22, 2015

Cooper Energy has agreed to acquire a 50% interest from Santos in the VIC/RL3 permit offshore southeast Australia and the associated onshore Orbost gas plant.

UK offshore sector could be hit by further tax charge

Jan 22, 2015

Accountancy/shipping advisory specialist Moore Stephens claims companies in the offshore maritime sector could be affected by the UK’s proposed 25% Diverted Profits Tax (DPT) charge.

Norway opens new area of Barents Sea for license bids

Jan 22, 2015

The Norwegian Ministry of Petroleum and Energy has made available 57 blocks and part-blocks under Norway’s 23rd licensing round.

San Leon, Ardilaun complete offshore Ireland transaction

Jan 22, 2015

San Leon Energy has completed the sale of Island Oil & Gas to Ardilaun Energy.

Trending News

Another well goes onstream at Maari offshore New Zealand

May 22, 2015

Cue Energy says the Maari MR7A development well is onstream offshore New Zealand.

Subsea equipment monitoring technology to be trialed in North Sea

May 22, 2015

An unnamed sponsor of a joint industry project to develop the company’s V-IR subsea integrity monitoring system has committed to deploy V-LIM line insulation monitor units in various North Sea fields.

MEG flow meters head to Ichthys

May 22, 2015

Litre Meter has dispatched 45 positive displacement flow meters to the Ichthys LNG project in the Browse basin off Western Australia via the company’s South Korean distributor S-TEK.

Safe Bristolia returning to UK North Sea following repairs

May 22, 2015

BG Group has agreed to a revised schedule of work for the accommodation support vessel Safe Bristolia at the Everest platform in the UK North Sea.

Online exclusive: Oil and gas M&A activity on the uptick in 2015

May 21, 2015

While this year is likely to see a renewed level of mergers and acquisitions activity across the oil and gas sector globally, 1Q 2015 witnessed stalled activity due to a low oil price environment. 

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>