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Oil & Gas

Total chief exec tells oil majors to “be patient” around mergers and acquisitions

11/11/2015

Total's chief executive said oil majors are well positioned to grow during the oil price downturn but should "be patient" when it comes to mergers and acquisitions. Patrick Pouyanne made the comments after it was revealed Anadarko had become the latest company to launch a takeover bid for Apache, following in the steps of Shell and BG and Halliburton and Baker Hughes.

Oil & Gas

Bowleven starts flow of hydrocarbons from Moambe well

11/11/2015

Bowleven said its Moambe well has started the flow of hydrocarbons onshore Cameroon. The Africa focused oil and exploration company said the step forward was taken after the installation of testing equipment. An extended well testing programme is planned at Moambe to determine the productivity and connectivity of the shallower reservoir units.

Oil & Gas

Ophir Energy close to signing-off on agreements for Fortuna FLNG

11/11/2015

Ophir Energy said it is in the process of signing off on its long-term agreements for its Fortuna FLNG (Floating Liquefied Natural Gas) project off Equatorial Guinea. The company will be working with a shortlisted group of counterparts all of which are globally established LNG buyers. The offtake contracts offer flexibility to competitively deliver the gas into either the Atlantic or Pacific Basin and Ophir said they had been met with strong interest from LNG buyers.

Oil & Gas

ONS 2016 gearing up to be biggest show yet

10/11/2015

ONS has sold more exhibition space ahead of the event next year than it did for the whole show in 2014. Shows organisers said the growing interest in ONS, which takes place in Norway, has been led by a desire for more collaboration in order to meet the industry’s current challenges. The news comes after a number of exhibitors – including BP – opted out of exhibiting at Offshore Europe in Aberdeen amid the decline in oil price.

Oil & Gas

MMA strikes $50million deal with Woodside Energy

10/11/2015

MMA has signed a contract with Woodside Energy worth $50million to provide three vessels to support the company in Australia’s north west region. The company made the announcement as it revealed its yearly results which it said saw a lower than expected first four months of trading due to the low oil price environment. MMA said EBITDA is expected to be in the region of up to $85million for the full year but said it was making the estimate with a “low level of visibility of demand” for the second half of the financial year.