Cnoocโs $3bn UK portfolio sale has stalled on valuation gap
Cnooc (TSX: CNU) has paused a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion in a deal, according to people familiar with the matter.
Cnooc (TSX: CNU) has paused a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion in a deal, according to people familiar with the matter.
Further North Sea oil and gas players are being tipped to up sticks next year as companies look to streamline their portfolios.
One of the top bosses at Chinaโs CNOOC has refused to rule out a sale of its North Sea assets amid mounting speculation on its UK portfolio.
Norwayโs Equinor is reportedly considering the purchase of UK oil assets held by Chinese state-backed operator CNOOC International, according to a Norwegian newspaper.
Sval Energi has signed an agreement to acquire Suncor Energyโs Norwegian business, as the Canadian group looks also to sell off its UK assets amid a pull back from the North Sea.
The UK North Sea is expected to spend $750 million on emissions allowances this year, according to new research, with the price of carbon only set to surge.
There are several hubs around the North Sea which will still be producing in a decadeโs time โ but 12 of these will be โkeyโ thanks to their production upsides and emissions intensity, according to new research.
A leading analyst says the North Sea โcould do with another Buzzardโ to offset production decline and plug the import gap.
Finder Energy has acquired further acreage around the CNOOC Buzzard field in the Central North Sea.
A one-eyed black cat who found his way onto an offshore installation has been returned home - five years after he went missing.
Fears about potential sanctions on Chinese Government assets are driving Cnoocโs departure from the North Sea, it has been reported.
The North Seaโs new class of operators could be poised to further strengthen their dominance in the basin with several major assets expected to hit the market.
Chinese oil giant Cnooc (TSX: CNU) is putting plans in place to pull out of the North Sea, according to reports.
CNOOC has invited early engagement on the lucrative EPC contract for its Buzzard, Scott and Golden Eagle assets in the North Sea.
CNOOC has hit a key milestone ahead of first production from phase 2 of the huge Buzzard oilfield in the North Sea.
CNOOC has teased plans to electrify its North Sea platforms through floating wind and โbuild a new energy businessโ in the UK.
Australia-headquartered Finder Energy has been awarded a new licence in the UK North Sea.
Cnooc is aiming to clear some of its project backlog after booking Prosafe's Safe Boreas accommodation vessel for the Buzzard field.
Prosafe has signed a ยฃ6.1 million contract with CNOOC for the charter of the Safe Boreas accommodation vessel at the Buzzard platform in the UK North Sea.
China National Offshore Oil Company (CNOOC) has awarded a two-year North Sea contract to engineering services firm Worley.
North Sea giant Chrysaor will adopt the name of its backer once it completes the reverse takeover of Premier Oil early next year.
CNOOC has confirmed the deferral of Buzzard Phase 2, a major project to extend the life of one of the North Seaโs largest-producing oil fields.
Chinese oil firm Cnoocโs Buzzard platform in the UK North Sea may have a role to play in a flagship carbon capture and storage (CCS) project, developers have said.
CNOOC saw profits and production tumble for its North Sea business in Ray Riddochโs final year at the helm of the operating company.
Several North Sea operators are reducing offshore crews on their UK platforms in a bid to prevent the spread of the coronavirus outbreak.