OMV closes acquisition of Shell’s Upstream business in New Zealand

December 28, 2018

OMV, the international integrated oil and gas company based in Vienna, closes the acquisition of Shell’s Upstream business in New Zealand comprising joint venture interests in Pohokura (48%), the largest gas producing field in New Zealand, and Maui (83.75%) as well as related infrastructure for production, storage and transportation.

OMV has been partner in the acquired assets (OMV’s former stakes: 26% in Pohokura and 10% in Maui) and now assumes operatorship in both joint ventures.

The economic effective date of the transaction is January 1, 2018.

The purchase price is USD 578 mn and subject to customary adjustments.

Comments

Post a Comment

Popular posts from this blog

ADNOC’s Sour Gas Hail, Ghasha and Dalma Project Takes Critical Next Step

January 9, 2018 The Abu Dhabi National Oil Company (ADNOC) awarded the two Front End Engineering Design (FEED) contracts for ADNOC’s planned offshore ultra-sour gas mega project, which consists of the Hail, Ghasha and Dalma fields . Bechtel (UK) was awarded Hail & Ghasha FEED Contract and TechnipFMC (UAE) was awarded Dalma FEED Contract. In man-hours, the two FEED contracts, collectively, are the largest awarded by an oil and gas company, underpinning the criticality of a detailed FEED phase to optimize project cost and schedule. The project, in the northwest offshore area of the Emirate of Abu Dhabi, could meet 20 percent of the UAE’s gas demand by the second half of the next decade. H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “The growth in energy demand in Abu Dhabi, and the wider UAE, has prompted ADNOC to further harness its gas resources, as part of its 2030 smart growth strategy. This FEED award provides ADNOC with the potential to unlock
Read more

Axens Awarded Licences For The Saudi Aramco Jazan Refinery & Terminal Project

  SEPTEMBER 23 - 2011 Axens' technologies have been selected by Saudi Aramco for its Jazan Refinery & Terminal Project. The refinery, scheduled to be commissioned in December 2016, will have a capacity of 400,000 BPSD. The units under Axens design are: Naphtha hydrotreating for feedstock purification aromizing ™ – CCR Reforming for aromatics production C5/C6 isomerization unit to provide a high octane component for the gasoline pool ParamaX® complex enabling to produce high purity paraxylene and benzene. These units are designed and integrated to maximize the gasoline production and the aromatics throughput for petrochemical use. The Gas Oil desulfurization hydrotreater (Prime-D™) is also under Axens design. This Prime-D unit – one of the world's largest – will produce ultra low sulfur diesel (ULSD) with less than 10 ppm of sulfur. The refinery will deliver gasoline and diesel that meet Euro V specifications.
Read more

KazMunayGas and LUKOIL Sign Agreement on Al-Farabi Project

08.10.2020 On 7 October 2020, Chairman of the Management Board of JSC NC “KazMunayGas” (KMG) Alik Aidarbayev and President of PJSC LUKOIL Vagit Alekperov signed in Moscow an agreement on the Al-Farabi project. The state authorities had earlier amended the State Subsoil Fund Management Programme to rename the I-P-2 site as Al-Farabi subsoil site. In June 2019, a principles agreement was signed between KMG and LUKOIL in respect of this project, whereby the companies agreed on the basic terms and conditions for its joint implementation. Today's agreement is the next stage of joint activities related to this subsoil site. The following step will involve the signing of a contract for the exploration and production of raw hydrocarbons. The document signed today defines the rights and obligations of KMG and LUKOIL regarding the operations of the future subsoil user under the Al-Farabi project. The agreement will enter into force after KMG obtains the subsoil use right by entering into a s
Read more