Australian minnow FAR (ASX:FAR) is likely to be breathing a sigh of relief on the notice that Allan Gray is no longer a substantial holder, although there remain questions for the future.
Fugro is transforming its business through a shift to remote and autonomous vessels, with the aim of accelerating decision making – while also cutting emissions.
TMC Compressors has won work to supply the marine compressed air system to Woodside Energy’s Senegalese field.
The Ocean BlackRhino has drilled a first production well at the Sangomar field, offshore Senegal.
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
Australian minnow FAR has completed the sale of its stake offshore Senegal to Woodside Energy.
Following the completion of tests in Australia, Blue Ocean Seismic Services (BOSS) is preparing to carry out work in the North Sea in June.
Shareholders in FAR have approved the sale of the company’s stake in a Senegal licence to Woodside Energy.
Woodside Energy has increased the cost of its Sangomar project to $4.6 billion, gross, from $4.2bn.
Remus Horizons PCC has abandoned its bid to acquire FAR, paving the way for Woodside Energy to complete its takeover of Senegal’s Sangomar.
Lukoil has pulled its non-binding bid for FAR, clearing the way for Woodside Energy to increase its stake in the Sangomar project.
More than A$50 billion ($40.5 billion) of necessary decommissioning work needs to be carried out on Australia’s offshore oil and gas infrastructure, over half of which must be started within the next ten years.
Protests continued in Senegal on March 8 as a leading opposition politician faced charges of sexual assault.
Australia’s Woodside Energy is reducing its presence in Myanmar and expects to fully demobilise its offshore exploration drilling team over the coming weeks following reports of human rights violations in the Southeast Asian nation.
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.
Transparency campaigners in Myanmar have appealed to foreign upstream producers to stop paying revenue to the military-led government which seized power in coup on 1 February.
Australia’s Woodside Energy is set to supply 0.84 million tonnes per year of liquefied natural gas (LNG) to RWE, Germany’s largest power producer, for seven years starting 2025.
Russia’s Lukoil has emerged as another suitor to buy MSGBC Basin-focused FAR, for A$220 million ($170mn).
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
Malaysian national oil company (NOC) Petronas said that it is making every effort to ensure the safety of about 155 workers that are sub-contracted on a barge servicing its Yetagun platform in the Andaman Sea off Myanmar following the military coup.
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
The apparent overthrow of the Aung San Suu Kyi administration by the Myanmar military threatens more than $1 billion of potential upstream investment in the Southeast Asian nation.
With Myanmar’s general elections in the rearview mirror, upstream development expenditure could more than double to over $1 billion by 2023 compared to this year’s spend.
FAR has received a non-binding proposal for its potential acquisition by Remus Horizons PCC that may derail its Senegal sale.