BP acquires interest in Canada’s Bay du Nord
Canada FPSO and drilling rig in offshore oil field
The deal will also see BP sell its 50% interest in the Sunrise oil sands project in Alberta, Canada, to Cenovus Energy.
The transaction includes Cenovus Energy paying BP USD 467 in cash with a USD 467 contingent payment that expires after two years.
Equinor operates the Bay du Nord project with a 65% stake. The venture will consist of an FPSO extracting oil from the Flemish Pass basin offshore St. John’s in Newfoundland and Labrador, Canada.
The development is the first deep-water project in Canada in water depths ranging from 1,000-1,200 kilometres. The play holds an estimated 300 million barrels of crude oil.
Recent Posts
SkyPower Global in 1-GW deal with Zambia electric utility
SkyPower Global has signed a 1-GW power purchase agreement with state-owned Zambia Electricity Supply Corp Read More
Afentra acquisition of Azule assets approved in Angola
The government of Angola has approved Afentra’s acquisition of a 12% non-operating interest in offshore Block 3/05 and a 16%… Read More
TotalEnergies, Vanguard Renewables to develop renewable natural gas
TotalEnergies has agreed with US player Vanguard Renewables to jointly develop renewable natural gas (RNG) in the USA, the French… Read More
Namibia: Sintana takes 67% in Giraffe, eyeing Orange Basin growth
Canadian exploration player Sintana Energy has expanded in Namibia’s Orange Basin with a deal to acquire up to 67% in… Read More
AD Ports Group secures 20-year concession in Luanda
The UAE’s AD Ports Group has signed a concession agreement to operate and upgrade Angola’s multipurpose Luanda Port, the Emirati… Read More
Trident Energy strikes triple deal for Congolese assets
UK-based Trident Energy has signed agreements with Chevron Corporation and TotalEnergies to obtain working interests in the Moho-Bilondo, Nkossa, Nsoko… Read More