The agreement will give Statoil 66% ownership and operator status in a block that is home to Carcará, a prospect that Statoil says contains 700 million to 1.3 billion barrels of oil and equivalent natural gas.

During the second quarter, ARC continued its noncore asset divestment program, divesting the remainder of low-netback operated shallow gas assets in southern Alberta.

There are sliding sleeve systems with a constant internal diameter, and a ball and collet can be reinstalled at a later date for refracking and restimulation.

The Calgary, Alberta-based company entered an asset exchange agreement with a large industry partner on jointly-held acreage to exchange 15.4 net sections (9,856 net acres) from its Montney asset.

Despite being an old basin, Britain's North Sea is estimated to have billions of barrels left for extraction, Reuters reported.

Delek said its partner in the tender is Capricorn Oil, a unit of Cairn Energy, Reuters reported.

InterOil owns a 36.5% stake in the gas-rich Elk-Antelope field in Papua New Guinea, which is expected to be the main source for ExxonMobil's proposed Papua LNG project.

The move could lead ExxonMobil and Total to tie together their competing gas interests in the South Pacific nation, cooperating to reduce costs as they battle cheap oil and LNG prices.

ExxonMobil this week trumped an offer from Oil Search Ltd., which was backed by Total. Oil Search is due to declare on July 21 whether or not it will match ExxonMobil's $2.2 billion bid.

Iran will issue a preliminary list of international oil companies (IOCs) eligible to take part in tenders to develop its oil and gas fields within the next two weeks, a senior Iranian oil official said.

Delek said its investment is expected to reach $162 million. The sale is still subject to lender and regulatory approval, the companies said, Reuters reported. 

The bid pits ExxonMobil, the world's biggest oil company, against Total, which is backing Oil Search, as the French giant looks to push forward with its planned Papua LNG project to rival ExxonMobil's existing PNG LNG project.

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