Serica Energy plc has lost its bid to acquire all of BP’s stake in the Culzean gas condensate field after project partner NEO NEXT exercised its pre-emption rights. DISAPPOINTING The 13 October purchase agreement covered a 32% non-operated working interest in UK central North Sea licences P111 and the adjacent P2544, for $232 million cash. […]
Tag: TotalEnergies
Serica plans to buy BP’s stake in Culzean field
Serica Energy plc plans to buy BP’s 32% non-operated working interest in UK central North Sea licences P111, containing the Culzean gas condensate field, and the adjacent P2544, for $232 million cash. WORLD-CLASS The purchase is subject to a 30-day pre-emption period during which Culzean partners – operator TotalEnergies holding 49.99%, and NEO NEXT (18.01%) […]
Kistos expects ‘sub-commercial’ Benriach gas
Kistos Holdings plc expects “sub-commercial” gas from a discovery from the Benriach exploration well in the Greater Laggan Area, west of Shetland. VOLUMES Kistos holds a 25% non-operated working interest in licence P2411 with operator TotalEnergies (50%) and Rockrose Energy (25%). The Transocean Barents rig mobilised from Olen and spud the well on 21 March, reaching […]
Tullow’s partners exit Kenya JV
Tullow Oil plc’s partners TotalEnergies and Africa Oil have withdrawn from the South Lokichar Basin joint venture in Kenya for “differing internal strategic reasons”. OPTIONALITY Tullow said it expected net project 2C contingent resources to increase from 231 mmboe to 461 mmboe, and the group’s total contingent resources from 605 mmboe to 836 mmboe. The […]