Energy Resource Technology to sell GoM interests

Energy Resource Technology GOM has agreed to sell a 30% working interest in its Danny and Noonan discoveries (Garden Banks blocks 463, 506, and 507) and other outer continental shelf oil and gas properties (East Cameron blocks 371 and 381), to a private independent oil and gas company for $165 million, and additional cash payments of up to $20 million based upon certain field production milestones.

Apr 3rd, 2008

Offshore staff

HOUSTON -- Energy Resource Technology GOM has agreed to sell a 30% working interest in its Danny and Noonan discoveries (Garden Banks blocks 463, 506, and 507) and other outer continental shelf oil and gas properties (East Cameron blocks 371 and 381), to a private independent oil and gas company for $165 million, and additional cash payments of up to $20 million based upon certain field production milestones.

The new partner will also pay their 30% share of all future capital expenditures related to the exploration and development of these fields.

04/03/2008

More in Home

The semisubmersible well intervention rig Q7000 is suitable for deepwater operations globally.

Helix takes delivery of well intervention vessel

Sembcorp Marine has delivered the semisubmersible well intervention vessel Q7000 to Helix Energy Solutions Group Inc.

The current focus is on full hookup of the Leviathan platform and living quarters and platform commissioning.

Leviathan offshore Israel on track for December start-up

Production from the deepwater Tamar gas field offshore Israel passed the 2 tcf mark this summer, according to operator Noble Energy.

Peninsular Malaysia Mega-Merge data-set will involve broadband reprocessing of legacy 3D data from field tapes, and acquisition of new broadband 3D seismic.

Consortium to acquire, re-process Malay basin broadband data

Petronas has awarded TGS and two partner companies a contract to deliver a contiguous broadband 3D volume of more than 40,000 sq km (15,444 sq mi) across the offshore Malay basin.

The Scarborough field layout.

Woodside ups estimate for Scarborough area gas resources

Woodside Energy says 2C dry gas resources in the Scarborough field offshore Western Australia have increased by 52% to 11.1 tcf.

Analyst calls for tax, licensing reforms to boost Brazil bid rounds

Wood Mackenzie has issued more thoughts on the low-key response to Brazil’s Transfer of Rights Surplus round, for which a Petrobras-led consortium lodged the sole bid.

Duva field layout.

Pandion exiting North Sea Duva project

Pandion Energy has agreed to sell its 20% share in the Duva oil and gas field in the northern Norwegian North Sea via two transactions.

The Fast4Ward hull is a standard design with the flexibility to be used for deepwater projects.

SBM to adapt Fast4Ward concept for third Guyana FPSO

Esso Exploration and Production Guyana Ltd. has contracted SBM Offshore to perform front-end engineering and design for an FPSO for the Payara development project in the Stabroek block offshore Guyana.

The Maersk Integrator will undergo upgrades to turn it into a hybrid, low-emission rig.

Maersk Drilling commits to second ‘hybrid’ low-emission jackup conversion

Aker BP has awarded Maersk Drilling an extension to the current contract for the CJ70 XLE harsh environment jackup Maersk Integrator.

Prospects and the Zama discovery in block 7 offshore Mexico.

Talos provides offshore Mexico wells review

Talos Energy aims to complete a formal resource report on the Zama oil discovery offshore Mexico by year-end.

The pipelay vessel Seven Borealis installed 42 km (26 mi) of corrosion-resistant alloy pipe for Equinor’s Askeladd subsea development in the Barents Sea.

Subsea 7 pipelay vessels active offshore Norway

Subsea 7 has issued an update on progress of its current offshore projects in its 3Q results statement.

Future west of Shetland projects face gas capacity challenge

European majors remain committed to E&P west of Shetland despite the recent withdrawals by Chevron and ConocoPhillips, according to GlobalData.

The Amazon Conqueror is a high capacity 3D streamer vessel.

Shearwater to acquire East Med 3D survey

Shearwater GeoServices has won a contract for a 3D seismic survey in the Eastern Mediterranean Sea.

Stronger returns from this year’s offshore Norway wells

Equinor’s Echino South oil and gas discovery in the North Sea has lifted the total of new resources proven offshore Norway this year to 520 MMboe, according to Rystad Energy.

The 70-km (43-mi), 950-MMcf/d capacity pipeline will take gas from the offshore Alen field to the onshore Punto Europa LNG complex at Bioko Island.

Saipem to install offshore Equatorial Guinea gas trunkline

The Ministry of Mines and Hydrocarbons in Equatorial Guinea has approved a $90-100 million offshore gas pipelay award to Saipem.