Shell Mulls Largest US Oil Field Sale and More

  • Jun 19, 2021
  • Rigzone

Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them…

Royal Dutch Shell is reportedly reviewing its holdings in the largest oil field in the U.S. The potential sale could include all of Shell’s 260,000 acres in the Permian Basin, Reuters reported.

A consortium of Daewoo Shipbuilding & Marine Engineering and Saipem won its first order for a large-scale offshore facility in two years. The approximately $2.3 billion deal calls for the construction of a floating production, storage, and offloading facility to develop the Buzios field offshore Brazil.

USA Shale Finally Making Money After Blowing $300B

Bloomberg reported that, after years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracing industry seems to have found a sweet spot.

Sound Energy entered into a sale and purchase agreement with Schlumberger Holdings II Limited to buy the entire issued share capital of Schlumberger Silk Route Services Limited. Under the deal, Sound Energy is making an initial payment of $1 in cash on completion. The company may also make future payments pursuant to a profit sharing deed.

A unit of Abu Dhabi National Oil Co. awarded Saipem a $510 million contract to expand the capacity of its Shah Sour Gas Plant. Saipem’s receipt of the engineering, procurement, and construction contract follows a competitive tender process.

Wood Mackenzie revealed the winner of its Most Admired Explorer award. The award ceremony was held in conjunction with Wood Mackenzie’s Next Generation Energy and Exploration Summit on June 9, which was held online.

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