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

New year offers opportunity for political leadership on energy

Jan 15, 2015

After a year of seemingly endless political gridlock on the energy front, we at the National Ocean Industries Association are hopeful that 2015 will bring actual results, not just rhetoric.

Seismic bids under review for deepwater block offshore Egypt

Jan 15, 2015

Petroceltic and partner Edison plan to acquire seismic data this year over their recently awarded North Thekah block in the deepwater Mediterranean Sea offshore Egypt. 

Noreco reduces stake on Danish license

Jan 15, 2015

Norwegian Energy Co. (Noreco) has reduced its ownership in license 9/95 on the Danish continental shelf from 20.1% to 16%.

Trio wins West Teal block in UK North Sea

Jan 15, 2015

Britain’s government has awarded a further block to PA Resources and partners First Oil and Gas and Dyas UK under the UK’s 28th Seaward Licensing Round.

Statoil returns three offshore Greenland licenses

Jan 15, 2015

Statoil has returned three of four exploration licenses it held offshore Greenland. 

Trending News

McDermott to install subsea equipment for Chevron at Jack/St. Malo

Mar 31, 2015

Chevron USA Inc. has awarded McDermott International Inc. (NYSE:MDR) a contract to transport and install subsea umbilicals, manifolds, jumpers, and flying leads for the brownfield expansion of the Jack and St. Malo fields in the GoM.

Tyra field expansion onstream offshore Denmark

Mar 31, 2015

Maersk Oil & Gas says production has started from the new unmanned Tyra Southeast-B platform in the Danish North Sea.

Myanmar awards deepwater offshore tracts to Reliance, Eni

Mar 31, 2015

Reliance Industries Ltd. and Myanmar Oil & Gas Enterprise have signed production-sharing contracts for offshore Republic of the Union of Myanmar blocks M17 and M18. 

Azonto seeks to improve economics of gas plan offshore Côte d’Ivoire

Mar 31, 2015

Azonto Petroleum has issued a progress report on its shallow-water Gazelle gas field development in block CI-202 offshore Côte d’Ivoire.

Heerema orders largest semisubmersible crane vessel from Jurong

Mar 31, 2015

Heerema Offshore Services has signed a letter of intent with Jurong Shipyard Pte Ltd. for the engineering and construction of a new semisubmersible crane vessel.

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>