Block SC55 covers 9,880 sq km in southwest Palawan Basin in a proven oil and gas fairway. Maersk drillship will arrive at Hawkeye-1 well location at end of July.
Michael A. Creel, CEO of Enterprise’s general partner, said the proceeds enhance the company’s financial flexibility for Eagle Ford and Permian Basin projects. Including proceeds, current liquidity surpasses $6 billion.
Italian oil company Eni was awarded three licenses covering 23 blocks, while Shell received one license to explore 10 blocks, government data showed, Reuters said.
Commodity price uncertainty aside, issues raised after Mexico’s Round 1 Phase 1 can be addressed to move the country toward its goal of growing production and strengthening its economy.
China and Japan should start joint development of resources with the precondition that activities won’t violate laws of the two countries, China's foreign ministry said.
Italy’s Eni has asked advisers to look at options for the assets, which include interests in oil and natural-gas fields, people with knowledge of the private matter told Bloomberg.
Shell's bid signals renewed interest in Albania, a NATO nation seeking to join the European Union, after many oil majors failed to strike oil there in the decade after it toppled communism in 1990.
Companies shoulder much of costs for large-scale redundant platform decommissioning as sales in ageing oil fields remain few, Reuters said. Urgency to sell assets has grown on low oil prices.
Oil and natural gas exploration platforms are going up on Chinese side of median line delineating exclusive economic zones of China and Japan, according to a Japanese official, Reuters said.
The Stones development is about 320km offshore Louisiana in the Walker Ridge area, in 2,896m (9,500ft) of water. Turritella will be the world’s deepest FPSO.
Bureau of Ocean Energy Management will offer about 21.9 million acres offshore Texas in a lease sale that includes all available, unleased Western Gulf of Mexico planning area.
Of the 14 blocks up for bid, eight received no bids and four had bids thrown out because they did not meet the government’s minimum requirements.