The offshore industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
$1.8bn
US-based Devon Energy plans to acquire Validus Energy in deal valued at $1.8bn
$1.8bn
Canada’s Strathcona has signed a $1.8bn deal to buy Canada-based oil driller Serafina
$1.6bn
Nigerian regulators have blocked ExxonMobil’s sale of its stake in MPNU to Seplat Energy Offshore, a deal valued at $1.6bn
$505m
APA has acquired oil producing assets in West Texas from an undisclosed company for $505m
$317m
Norwgian firm Sval Energi plans to acquire Suncor’s Norwegian business in $317m deal
Project updates
Cenovus Energy has agreed to acquire the remaining 50% stake in the BP-Husky Toledo Refinery in Ohio, US.
The deal forms part of BP's efforts to reshape its oil and gas portfolio in North America and reduce greenhouse gas emissions across its operations. As per the terms of the deal, Cenovus will pay $300m in cash as consideration along with the value of inventory.
Italian energy group Eni had agreed to acquire Exmar group’s Export LNG, which owns the Tango floating liquefied natural gas vessel, to produce LNG in the Republic of Congo.
The 2017-built Tango floating liquefaction plant has a liquified natural gas storage capacity of 16,100m³ and a liquefaction capacity of up to 0.6 million tonnes per year.
Eni is looking to deploy a second liquefied natural gas production vessel offshore Mozambique to help Europe in diversifying its fuel supplies, reported Bloomberg News. The project is anticipated to be built in less than four years.
Wintershall Dea and its partners have started production from the Nova oil field, located in the Norwegian North Sea. The Nova oil field, previously named Skarfjell, is located nearly 120km northwest of Bergen and approximately 17km southwest of the Neptune Energy-operated Gjøa oil field.
Further Reading
Crude tank collapses in Cuba, leaving one dead and 121 injured
A crude oil storage tank fire at Cuba’s main port killed a man and injured 121 others in an explosion at a storage tank on 8 August. The tank was third to explode at the port; a fourth tank was under threat, but it has not caught fire.
An oil spill spread flames from a second tank, bursting into flames two days earlier in the island’s worst oil industry mishap in decades. A fire spread to a second tank after a bolt of lightning struck a tank at the Mantanzas Supertanker Base.
After receiving assistance from Mexico and Venezuela, Cuban authorities made progress fighting the raging flames over the weekend of the 6-7 August. Late on 7 August, the fire spread from the second tank, which then collapsed, says Mario Sabines, governor of the Matanzas province, which is around 100km from Havana.
Read more: Offshore Technology
