Offshore staff
OSLO, Norway – Oil and gas companies are looking to sell recoverable reserves of more than 5 Bbbl of liquids and 7.5 Bboe of natural gas, according to Rystad Energy.
The majority of the consultant’s estimate, which excludes unconventional and US onshore assets, are in the producing phase, followed by undeveloped volumes in the pre-FEED stage.
Majors account for close to 70% of the liquid volumes and 50% of the gas reserves lined up for divestment globally, with ExxonMobil and Chevron the most active in this respect.
ExxonMobil is seeking buyers for upstream interests in regions including the US Gulf of Mexico, UK North Sea, Nigeria, Malaysia, Indonesia, Romania, Azerbaijan, Vietnam, and Equatorial Guinea as it looks to generate $15 billion by 2021 and $25 billion by 2025 from divestments.
Chevron is offering its equity in eight shallow-water and onshore Nigerian blocks, and is considering selling its stake in the Indonesian Deepwater Development gas project.
Total’s offer includes a 12.5% stake in Nigerian offshore block OML 118, including the Bonga, Bonga Southwest and Aparo fields.
According to Rystad, Japan’s Inpex is considering farming down its Australian operations, including the $45-billion Ichthys LNG project.
BHP is reviewing a sale of its field interests in the Bass Strait fields off southeast Australia. ExxonMobil, which owns the remaining stakes in these fields, announced last September that it would put its 50% stake up for sale.
Rystad adds that 104,000 sq km (40,155 sq mi) of exploration acreage globally (83% offshore) is available globally for farm-ins.
06/03/2020
