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. 

Pages