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Nigeria’s Shoreline Energy signs $300M gas deal with Shell

Nigerian energy company Shoreline has signed a $300 million agreement with the local unit of Shell to develop gas infrastructure around the commercial capital, Lagos. Shoreline said the agreement was to develop, buy, market, distribute and sell natural gas in the Victoria Island, Ikoyi, Lekki and Epe districts -- areas that contain the city's business hub and some of the country's most expensive residential properties.

Read More – NY Times

Statoil adds exploration licenses in South Africa

Statoil has completed a transaction with ExxonMobil Exploration and Production South Africa Limited (ExxonMobil), acquiring a 35% interest in Exploration Right 12/3/252 Transkei-Algoa. The license covers approximately 45,000 square kilometers in water depths up to 3,000 meters.

Read More – Statoil

 Glencore, Qatar Investment Authority to Sell Rosneft Oil Stake

Glencore PLC and Qatar have agreed to sell the bulk of their almost 20% stake in Russian oil giant PAO Rosneft to a Chinese energy company in a deal worth about $9. The deal comes as the United States imposes a new round of economic sanctions on Russian Federation against its annexation of Crimea and an incursion into east Ukraine in 2014. After the sale, Glencore confirmed it would hold 0.5% of Rosneft while the Qataris would have a 4.7% stake.

Read More – Fox Business

Petrofac wins EUR 340M contract in Turkey from Gazprom

Oilfield services firm Pertofac Ltd said it has won a contract from a subsidiary of Russian firm Gazprom. The contract, worth around EUR340 million, is to develop onshore pipelines and a gas receiving terminal near Kiyikoy in Turkey. Petrofac said it started undertaking early works in April, including the front-end engineering and design verification as well as detailed design and procurement for the project.

Read More – LSE

LUKoil president discusses development of joint projects with the Iraqi oil minister

PJSC LUKOIL President and CEO, and Jabbar Ali Hussein Al-Luiabi, the Oil Minister of Iraq, held a meeting in Moscow on August 31st. The parties discussed the development of the company's projects in Iraq and prospects for cooperation. PJSC LUKOIL’s president informed the Minister of Oil that the third exploration well at Block 10 was drilled successfully; Wellbore testing of the 1986 meter well confirmed commercial discovery at the Eridu Field.

Read More – LUKoil

Egypt Signs $81.4M of Oil and Gas Deals with Shell, Apex

Egypt’s Oil Minister Tarek el-Molla has signed three oil and gas exploration agreements for 16 new fields in the Western Desert worth at least $81.4 million in total with Royal Dutch Shell and the U.S.-based Apex Oil Company. According to the first deal, Shell will invest $35.5 million on northern Oum Baraka area in the Western Desert. The second and third deals will see Apex, which is operating in Egypt for the first time, invest $26.5 million and $19.4 million on Southeast Maliha and west of Badr El Din, respectively.

Read More – Zawya

Kuwait's KUFPEC to buy additional 15% of Norway oilfield from Total

The Kuwait Foreign Petroleum Exploration Co (KUFPEC) has stated it has agreed to buy an additional 15% of Norway's Gina Krog offshore oilfield from Total for $317mn. The deal will double KUFPEC's interest in the field to 30%; last year it agreed to buy stream interests in Norway, including 15% of Gina Krog, from French energy giant Total for $300mn.

Read More – Reuters

Equatorial Guinea demands EUR 73M from Total over fuel sale fraud

Equatorial Guinea is demanding 48 billion CFA francs (73 million euros) payment from Total. The central African country is accusing the French oil giants of fraud, the AFP news agency reports. According to Finance Minister, Miguel Egonga Obiang, Total’s fraudulent dealings for which they are seeking the damages occurred with the sale of fuel between 2010 and 2012.

Read More - Africa News

Mozambique to charge Eni $350M in cap. gains tax from Exxon deal, Reuters says 

Mozambique plans to charge Eni (E) $350M in capital gains tax for its sale of an interest in the Coral South natural gas field to ExxonMobil (XOM), Reuters reports, citing comments from the nation's finance minister on local television. The government's plans to establish a sovereign investment fund where taxes received on sales of the country's minerals will be used to fund development projects.

Read More – The Fly

Shell completes SADAF chemicals sale in Saudi Arabia to SABIC for $820M

Shell has completed the sale of its 50% share in SADAF, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million. This acquisition will enable SABIC to optimize operations at SADAF and further invest in the facilities, integrating them with SABIC's other affiliates.

Read More – Shell

SOCAR, LUKOIL eye to acquire assets in Turkish market

Azerbaijan’s state oil company SOCAR and Russia`s LUKOIL PJSC are discussing the possibility of joint acquisition of new assets in the fuel market of Turkey. According to LUKOIL’s senior Vice President for sales and supplies, Turkish retail fuel market remains attractive for LUKOIL, which actively promotes its interests in this sector of the Turkish economy.

Read More – Trend

Total invested $10B in Nigeria’s oil sector

The Managing Director and Chief Executive of Total Upstream Companies in Nigeria, said the companies invested over $10 billion in the country’s oil and gas sector. The managing director said the company was presently involved along the value chain from upstream to the downstream sector where Total was a leader with close to 550 service stations across the length and breadth of Nigeria.

Read more - NAN

Baker Hughes awarded subsea contract for phase 2 of Zohr

Baker Hughes has been awarded a major new contract for the second phase of the Zohr gas field, off Egypt's Mediterranean coast. Baker Hughes will provide management, engineering procurement, fabrication, construction, testing and transportation of a subsea production system, including seven manifolds. The value of the contract was not disclosed.

Read more - Egypt Today

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