Total Divested $1.3 Billion of assets in a week. Total sells North Sea midstream assets On August 27, Total (ticker: TOT) announced that it sold its FUKA and SIRGE gas pipelines, along with the St. Fergus Gas Terminal, to North Sea Midstream Partners for £585 million (approximately $905 million). The Frigg UK Pipeline (FUKA) is…
Schlumberger acquires US-Based Novatek inc. Schlumberger announced its takeover of US-based Novatek Inc. and Novatek IP, LLC. that will provide a new platform to improve drilling performance to the growing oil services giant’s portfolio. Schlumberger’s StingBlade. Image from Schlumberger. Schlumberger and Novatek already have a cooperative relationship that created Schlumberger’s StingBlade conical diamond element bit,…
Panoro Energy discovers Hydrocarbon in Nigeria as reported by Oedigital Panoro Energy hit hydrocarbon pay at the Aje-5 production well on the OML 113 license, offshore Nigeria. Aje is an offshore field located in the western part of Nigeria in the Dahomey basin close to the border with Benin. The field is situated in water…
Nigeria National Oil company NNPC has announced it will deploy drones to curb oil thefts in the country. The announcement was made by Emmanuel Ibe Kachikwu, the newly appointed chief of state-run oil company Nigerian National Petroleum Corporation (NNPC). Nigeria is Africa’s biggest oil producer and oil generates about 70% of government revenues. However, frequent…