The move will see Global Oil and Gas acquire a 25% stake in Western Gas. The junior said that it had received USD 11 million from investors. The overall estimated cost for drilling is around USD 20 million.
The Sasanof field is part of Western Gas’ Equus gas project and is projected to hold 203 bcm (7.2 tcf) of gas and 176 million barrels of condensate. The project has a projected 32% success rate.
“The 25% earn-in to the Sasanof project will enable the company to be the only junior in Australia with significant exposure to the North West Shelf, which in my opinion contains some of the best drillable offshore prospects in Australia,” said Patrick Glovac, non-executive director of Global Oil and Gas.
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
This website uses cookies.