Mergers, Acquisitions & JVs

Algeria’s Sonatrach eyes partnerships with Exxon Mobil

October 01, 2019 | Algeria, Contracts, Mergers, Acquisitions & JVs

Algiers, Algeria |   –  Algeria’s state-owned Sonatrach held meetings with Exxon Mobil last week to discuss possible partnerships, a Sonatrach statement said on Monday, a week after it said it had talked with America’s Chevron Corporation. Sonatrach gave no further details of the September 25 and 26 meetings but the energy producer has said it wants to boost output to increase revenues after a decline in prices hit its budget. Some 95% of Algeria’s foreign revenue comes from oil and gas sales. Since energy prices …

Total completes takeover of Maersk Oil

March 12, 2018 | Mergers, Acquisitions & JVs, North Sea & Western Europe

French energy giant Total today confirmed the takeover of Danish conglomerate Moller-Maersk’s oil and gas business. London, UK | – French multinational energy giant, Total said the £5.8billion takeover, made it the second largest operator in the North Sea with an output of 500,000 barrels per day by 2020. The purchase of Maersk Oil hands Total a 49.99% operated stake in one of the UK’s biggest offshore gas developments, the Culzean field, which is expected to come online in 2019. Both businesses employed about 700 people …

Shell buys charging station firm in first electric vehicle deal

October 13, 2017 | Mergers, Acquisitions & JVs, North Sea & Western Europe, Products, Services & Techniques

Amsterdam, Netherland  | – Multinational oil giant,  Royal Dutch Shell Plc has agreed to buy Dutch-based NewMotion, the owner of one of Europe’s largest electric vehicle charging networks, marking the company’s first deal in electric mobility as demand for cleaner vehicles is expected to soar. Shell said NewMotion, which manages over 30,000 charging points for electric vehicles in Western Europe and offers access to thousands more, will operate in parallel to Shell’s program of rolling out fast charging points at its forecourts. “They’re complementary offers. …

Transocean to buy Norwegian rig firm Songa Offshore for $1.1 billion

August 15, 2017 | Deepwater, Mergers, Acquisitions & JVs, Rigs & Vessels

London, UK | – Transocean Ltd, one of the world’s biggest drilling rig operators, has agreed to a deal to buy Norwegian competitor Songa Offshore SE for 9.1 billion Norwegian crowns (US$1.1 billion), the two companies said Aug. 15. The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean’s position in offshore drilling as Songa is Norwegian oil major Statoil ASA’s largest drilling service provider. The offer values Songa shares at 47.50 Norwegian crowns each, a 39.7% premium over …

Algeria’s Sonatrach, Total study petrochemical plant partnership

December 30, 2016 | Algeria, Mergers, Acquisitions & JVs, Petrochemicals

London, UK | – Algeria’s state-owned energy firm, Sonatrach, said last week it signed a cooperation agreement with French oil supermajor Total to build a “world-class” petrochemical facility in Algeria, Nogtec reports. In a short statement, Sonatrach said Total will carry out a feasibility study to evaluate the project, but it didn’t provide details on the scale of investments or its production capacity. Sonatrach and Total didn’t reply to Nogtec’s request for comment. Earlier this year, Total filed a request for arbitration against Algeria for changing …

Technip-FMC merger gets EU anti-trust clearance

November 24, 2016 | Company Operations, Mergers, Acquisitions & JVs, Support Services

London, UK | – Technip S.A,  a company that carries out project management, engineering and construction for the energy industry and FMC Technologies, Inc. an American provider of equipment and services for the energy industry said yesterday that they had received EU anti-trust clearance ahead of their proposed merger. Antitrust authorities in the United States, India, Turkey, Mexico and Russia have already approved the merger deal between the two giant industry service providers. Both firms will hold shareholders’ meetings on December 5 to vote on …

GE to merge business with Baker Hughes into $32 billion oil services giant

November 01, 2016 | Company Operations, Mergers, Acquisitions & JVs, Oilfield Services

London, UK | – General Electric Company, banking on a recovery in oil prices, said on Monday it would merge its oil and gas business with No. 3 oilfield services provider Baker Hughes Inc. GE will own 62.5 percent of the new company, which will have combined revenue of $32 billion (26.30 billion pounds), while Baker Hughes shareholders will own 37.5 percent. Shareholders of Baker Hughes, which had a market value of about $26 billion (£21.37 billion) as of Friday, will get a special one-time …

Rosneft, BP create JV to develop resources in Russia’s Siberia

November 01, 2016 | Eastern Europe & Russia, Mergers, Acquisitions & JVs

Moscow, Russia | – International oil super majors Rosneft and BP have announced the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, “to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation,” the companies said in a joint press release on Tuesday. According to the report, the JV will “focus on the onshore exploration of two Areas of Mutual Interest (AMIs) in the West Siberian and Yenisey-Khatanga basins covering a combined area of approximately 260,000 square …