Hibiscus acquires 85% interest in Eagle to consolidate around Anasuria

Hibiscus has announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK ('AHUK') has executed a Sale & Purchase Agreement ('SPA') with EnQuest in respect of certain interests in the UK Continental Shelf Petroleum Production Licence Number P238 Block 21/19a, Eagle Pre-Producing Area ('Eagle Field'). The Eagle Field is located approx. 6.4 km to 15 km from various Anasuria facilities, and due to its proximity, facilitates a potential...

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Long awaited deal finally announced: NEO acquires ExxonMobil UK

NEO Energy and HitecVision have announced the signing of a transaction that puts NEO Energy among the top five oil and gas companies in the UK.NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil. Following completion, NEO’s expected proforma 2021 production will be circa 70,000 barrels of oil equivalent per day (boepd), growing organically to more than 80,000 boepd in...

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OGA launches full investigation into possible licence breach

The Oil and Gas Authority (OGA) has opened an investigation into a possible breach of reporting requirements under a licence. The investigation follows an Enquiry which concluded that there was sufficient evidence of a breach to go ahead.The investigation will now among other things: gather and assess further information to enable the OGA to reach a decisionoffer the company concerned the opportunity to provide written representationsdecide how the case should be resolvedThe investigation follows the publication in October 2020 of the...

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Partial electrification of Sleipner approved

The Ministry of Petroleum and Energy has approved a revised plan for development and operation (PDO) for partial electrification of the Sleipner field centre. The field centre will be tied to the Utsira High area solution, and Sleipner is expected to cut emissions by more than 150,000 tonnes of CO₂ per year.“Partial electrification of the Sleipner field centre will contribute to major cuts in emissions from our activities and provide significant...

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