Nigeria is in talks with Russia’s Rosatom Corp. to build as many as four nuclear power plants costing about $80 billion as Africa’s biggest economy seeks to add 1,200 megawatts capacity by the end of the decade.
The West African nation signed an agreement with Rosatom to cooperate on the design, construction, operation and decommissioning of a facility, said Franklin Erepamo Osaisai, chairman and chief executive officer of the Nigeria Atomic Energy Commission.
It will be increased to four nuclear plants with total capacity of 4,800 megawatts by 2035, with each facility costing $20 billion, he said.
Energy Transfer Partners (ETP) has agreed a $17billion deal to buy its affiliate Regency Energy Partners in the wake of lower crude prices.
According to reports both companies are structured as limited partnerships and are controlled by a third partnership, Energy Transfer Equity, which owns 21.7% of Regency and 8.7% of ETP.
The deal is structured as an exchange of units.
A farm-out agreement between Chariot Oil and Gas and Woodside has been approved by the Moroccan Authorities.
The company made the deal earlier this year with Woodside who committed to pay 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot.
A spokesman said a substantial part of the funds had been received bringing its estimated cash balance to $52million.
SeaBird Exploration has received an LOA (Letter of Agreement) for one of its vessels in the South East Asia region worth up to $4million.
The deal will see the vessel chartered for around 35 days starting in early April next year.
US oil firm Apache has sold off its interest in two LNG projects along with accompanying reserves to Woodside Petroleum in a $3.75billion deal.
The company is also expected to be reimbursed $1billion for its net expenditure on the two assets, Wheatstone and Kitimat.
The terms of the agreement means Apache will sell its equity ownership in its Australian subsidiary Apache Julimar.
Enegi Oil has agreed to end a farm-in agreement with BSE (Black Spruce Exploration) in Canada.
The company said it the decision had been taken in recognition of the “problems” in completing investment for large-scale plans in the current climate.
It said the termination of the agreement would also allow for faster results and appropriate regional development in plays such as western Newfoundland.
After a bitter two days, Dave Lesar drove out to Martin Craighead’s headquarters Sunday, taking the final play in a tense merger negotiation straight to his counterpart.
It was cold and windy in Houston as the two chief executive officers entered the last stages of a bid that had almost led to a fight for board nominations. Lesar, 61, the 14-year leader of Halliburton Inc, and Craighead, 54, a Baker Hughes veteran in his first year at the helm, sat down over a coke and a coffee to seal the $35 billion deal, the two men said yesterday.
For Lesar, the meeting culminated a campaign that began almost a decade earlier when executives from the companies first broached a possible merger. A month ago, he took advantage of a 32% drop in Baker Hughes stock since July in the wake of falling oil prices.
An off-market takeover bid for Roc Oil by Fosun has now closed.
Billionaire Guo Guangchang’s Fosun International agreed to acquire Roc Oil for $441million in cash, giving the Chinese group assets stretching from Australia to Malaysia.
Petronas has awarded Technip a five-year agreement for an Engineering, Procurement, Construction & Installation (EPCI) deal for projects in Malaysia.
The contract will see the French services company provide supply only of flexible pipes and is the third new contract deal announced this week.
Asiaflex Products, Technip’s flexible pipe manufacturing plant located in Johor, Malaysia, will execute the framework agreement.
PPL Shipyard, a subsidiary of Sembcorp Marine, has secured a $240million contract to build a new jack-up drilling rig.
The deal with BOT Lease is scheduled for delivery in 2016 and the new rig, named Hakuryu 14, will be built based on PPL Shipyard’s Pacific Class 400 design.
The jack-up rig is capable of operating in deeper waters of 400 feet and drilling high pressure and high temperature wells to depths of 35,000 feet.
