EXXON SELLS MALAYSIA
British independent oil producer EnQuest has agreed to take over ExxonMobil's share in the Malaysian Seligi oil field and the associated production sharing contract.
The acquisition, which is subject to regulator approval, will give EnQuest a 50 percent stake in the field which it will start operating once the deal is completed.
Malaysia's Petronas will retain the other 50 percent.
The Seligi oil field, EnQuest's third Malaysian project, will boost the company's net production by around 5,000 barrels of oil equivalent per day and add 11 million barrels of oil equivalent to its net reserves.
"This acquisition follows from our recent partnership with Petronas on the Tanjong Baram field and is a significant expansion to our Malaysian operation," said EnQuest chief executive Amjad Bseisu.
|August, 15, 11:10:00|
|August, 15, 11:05:00|
|August, 15, 11:00:00|
|August, 15, 10:55:00|
|August, 15, 10:50:00|
|August, 15, 10:45:00|
WNN - Rusatom International Network - a subsidiary of Russian state nuclear corporation Rosatom - has signed a memorandum of understanding and cooperation with the Eurasian Development Bank (EDB). The memorandum provides for establishing common principles of bilateral cooperation with Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries.
BLOOMBERG - The Norwegian government in June made its first deposit into its wealth fund since the end of 2015. Now that the economy is in full recovery and the labor market is tightening, winding down fiscal stimulus is a key priority in next year’s budget, the prime minister said in an interview in Arendal, on Norway’s southern coast.
PLATTS - A deal between Chinese companies and Alaska's state gas corporation to build the $43 billion Alaska LNG Project appears to be on scheduled despite the trade war brewing between the US and China.
REUTERS - Benchmark Brent crude oil LCOc1 was up 10 cents at $72.91 a barrel by 0930 GMT. U.S. light crude CLc1 was unchanged at $67.63 a barrel.