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May 17, 2018 - Contax Partners’ Energy Feed

Oman signs agreements with Shell, Total for gas projects | Petrofac sells Mexico oil fields

 

Oman signs agreements with Shell, Total for gas projects

Oman signs agreements with ShellOman has announced that it has signed two separate Memorandum of Understanding (MoU's) with Total and Shell to develop gas projects and fields in the Sultanate. The agreement with Shell includes proposed projects covering upstream gas exploration & development, gas-to-liquids, liquefied natural gas and renewable energy. As part of the agreement, Shell will operate a gas-to-liquids project with Oman Oil Company. On the other hand, Total plans to use its equity gas entitlement in Block 6 as feedstock to develop a regional hub in Oman for a LNG bunkering service in the port city of Sohar that will supply the fuel to marine vessels. A new small-scale LNG liquefaction plant which will have a 1 million tonne per year train is to be developed with a flexibility for further expansion.
Additionally, Shell which holds a 75% stake and Total which holds a 25% stake in the Greater Barik Area Onshore Block 6 will collaborate to produce an initial 500 million standard cubic feet of gas per day, with a target to reach a potential 1 billion cf/d at a later stage.

 

Petrofac sells Mexico oil fields

Petrofac sells Mexico oilPetrofac Ltd has hired investment banks - Barclays and HSBC - to assist with the sale of its oil fields in Mexico. By scaling back on its upstream operations, Petrofac will look to refocus on core activities such as onshore engineering and construction. Apart from the Mexican fields, Petrofac may also consider divesting its assets in the Greater Stella Area in UK’s North Sea. Market sources have claimed that Ithaca Energy which holds the majority stake (54.6%) in Greater Stella could consider making an offer for Petrofac's shares.

 

 

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