All systems go for Geoex’s MCG takeover | Offshore Energy Today

Geophysical and geological services company Geoex has completed the voluntary offer to acquire all outstanding shares in the marine seismic data provider MultiClient Geophysical (MCG).Geoex’s voluntary cash offer for all outstanding shares of MCG was made on January 19, 2017, offering NOK 1.40 per share valuating the total share capital of MCG at approximately NOK 130 million.In addition to the one from Geoex, MCG had had another takeover offer, made by Spectrum. However, Spectrum withdrew its bid in mid-February as Geoex’s bid was higher and it got support from MCG’s board.

Source: All systems go for Geoex’s MCG takeover | Offshore Energy Today

Petronas in another ‘first’ within FLNG industry | Offshore Energy Today

It is worth reading this considering this is the first FLNG unit in Malaysia.

After having been the first company in the world to build and deploy an FLNG unit to an offshore location Petronas is reportedly set to become the first to actually send away an LNG cargo from an FLNG unit.The floating production unit named Satu, has been deployed at the Kanowit field offshore Malaysia in May last year, and it achieved first gas in November 2016.It produced first LNG in December, and according to a report by Reuters on Thursday, it is now expected to offload its first LNG cargo, making the unit break another “world’s first” FLNG milestone.

Source: Petronas in another ‘first’ within FLNG industry | Offshore Energy Today

Ophir to start drilling Ivory Coast wildcat in May | Offshore Energy Today

Oil and gas explorer Ophir Energy is preparing to resume deepwater exploration works in Ivory Coast.The company, which took over the operatorship of the CI-513 offshore block in early 2016, on Thursday said the preparations to drill the Ayame-1 deepwater exporation well off the Ivory Coast were at an advance stage.Ophir expects to start drilling in late May. The well will target approximately 240 Pmmbbl mean recoverable resources with an estimated 28% chance of commercial success. Ophir has a 45% operated interest in the license.

Source: Ophir to start drilling Ivory Coast wildcat in May | Offshore Energy Today

Qatar’s oil output cut starts in January | Offshore Energy Today

n line with OPEC’s recent agreement to cut output to stabilize oil prices, Qatar’s oil production levels will be reduced effective January 1, 2017, Qatar’s state-owned oil company, Qatar Petroleum, said on Tuesday. Qatar Petroleum President and CEO, Saad Sherida Al-Kaabi, said: “This decision comes in line with the State of Qatar’s commitment to the recently agreed production levels by the members of the Organization of the Petroleum Exporting Countries (OPEC) during its ministerial meeting held on 30 November, 2016.”

Source: Qatar’s oil output cut starts in January | Offshore Energy Today

Oil rises on Libyan supply disruptions, likely OPEC output cut extension | Offshore Energy Today

SINGAPORE (Reuters) – Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half of the year.Front-month Brent crude futures , the international benchmark for oil, rose 29 cents, or 0.6 percent, to $51.62 per barrel by 0653 GMT.In the United States, West Texas Intermediate (WTI) crude futures were up 34 cents, or 0.7 percent, at $48.71 a barrel.

Source: Oil rises on Libyan supply disruptions, likely OPEC output cut extension | Offshore Energy Today

CNOOC takes operatorship of West African block | Offshore Energy Today

Chinese crude oil producer CNOOC is taking over operatorship of a block located in the offshore joint development zone between Senegal and Guinea-Bissau. African-focused exploration company Impact Oil and Gas is farming out a 65% participating interest in a Production Sharing Contract (PSC) and associated joint operating agreement in the AGC Profond block to CNOOC. The agreement has been reached between Impact’s subsidiary, Impact Oil & Gas AGC Ltd, and CNOOC’s subsidiary, CNOOC UK Limited.

Source: CNOOC takes operatorship of West African block | Offshore Energy Today