Cairn Energy plc announced it had initiated a buyback programme of up to £20 million of its ordinary shares. PERIOD This will be prior to the anticipated larger buyback programme following receipt of the Indian tax refund. The company added that Morgan Stanley would handle the programme beginning today (15 November) and ending no later […]
Tag: oil and gas
Neptune sells non-operated Norwegian assets for $35m
Neptune Energy today announced it would sell its non-operated working interests for $35 million in three producing fields and two export pipelines on the Norwegian Continental Shelf (NCS). INTERESTS The company said it had signed sale and purchase agreements with OKEA ASA and M Vest Energy. The assets include the producing Draugen, Brage and Ivar […]
Block produces below average target levels at WR-B1a, West Rustavi
Block Energy plc announced that new well WR-B1a had produced below average target levels over the last eight days in West Rustavi, Georgia. FRACTURED RESERVOIRS Block has to date drilled three horizontal wells in naturally fractured reservoirs and acquired 3D seismic of the West Rustavi field. The company said that following the interim installation of […]
United spuds AJ-13 development well in Abu Sennan
United Oil & Gas plc announced that drilling had started at the Al Jahraa-13 development well in the Abu Sennan licence, onshore Egypt. AJ-13 The AJ-13 development well will take some 65 days to drill and complete and will target stacked Upper and Lower Bahariya reservoir targets. United added that the well was fully funded from […]
Tullow Oil to increase stake in Jubilee and TEN fields in Ghana
Tullow Oil plc announced it would increase its equity interest in the Jubilee and TEN fields in Ghana. PRE-EMPTION The company has exercised its right of pre-emption related to the sale of Occidental Petroleum’s interests in the fields to Kosmos Energy. Tullow aims to increase its share in the Deepwater Tano (DWT) block by 7.7% to a total […]
OGA opens third 2021 compliance investigation
The Oil and Gas Authority (OGA) said it had opened an investigation into a possible breach of field production consents contrary to the requirements of the licences. SANCTION PROCEDURE This is the third investigation into compliance matters opened by the industry regulatory body during 2021. The OGA said it had started the latest investigation under its sanction procedure. This follows […]