The Norwegian Ministry of Petroleum and Energy has determined the allocation of resources in the Johan Sverdrup oil field in the North Sea, according to a news release.

The transaction amounts to US $25 million and is subject to adjustments that are common to this type of operation, according to a news release.

The East Bay Field produced about 2,050 barrels of oil per day (bbl/d) net on average for fiscal 2015, with net reserves associated with the East Bay Field estimated at about 9.4 million barrels of oil equivalent (boe), 94% liquids, as of June 30, a news release said.

The East African nation will announce the list of companies that qualify by Aug. 10 and expects to issue a request for bids from applicants on Aug. 20.

German utility EON is working with Bank of America Corp. to possibly sell U.K. and Norwegian North Sea assets for US$2 billion, people with knowledge of private matter told Bloomberg.

royalty interests, Cenovus, Encana, Ontario Teacher's Fund, megadeal

The Ontario Teachers’ Pension Plan buys oil and gas royalty company Heritage Royalty for C$3.3 billion to acquire one of the largest royalty, mineral interests in Canada despite down commodity prices. 

The transfer is expected to be completed within a few months subject to its approval by the Republic of Kazakhstan.

The minimum working program for the exploration period includes geological surveys, seismic data gathering and exploration drilling, a news release said.

Reservoir services company Core Laboratories NV acquired Sanchez Technologies in an all-cash transaction. Sanchez is based in Viarmes, France. Sanchez designs and manufactures cutting-edge reservoir pressure-volume-temperature equipment and instrumentation.  

Blocks IV and V are in central Mongolia near Gobi-Altai Basin and Central Gobi Basin. Petro Matad received about US$2.7 million from BG Group. BG received 78% working interest.

Taas-Yuriakh Neftegazodobycha LLC’s blocks near China’s northern border will supply the planned Tianjin refinery on the east coast, according to OAO Rosneft, which sold the 20% holding last week.

The blocks are located on the outer shelf and upper slope of the Gulf of Mexico in water depths of less than 1,000 feet, the release said.