Vaalco Eyes Equatorial Guinea Block
Houston-based Vaalco Energy said that it is in talks to serve as operator for three Equatorial Guinea (EG) oil blocks recently awarded to Levene Hydrocarbon.Vaalco Energy Mauritius (Vaalco EG), the subsidiary of the company, is in preliminary talks to become a contract operator for offshore block 19 and two onshore concessions but would not own any interest in the blocks.Mauritius subsidiary currently holds a 31% participating interest in Block P, located offshore Equatorial Guinea.On November 26…
BW Offshore to Fully Own FPSO Petroleo Nautipa
Following to BW Offshore's announcement of 9 July 2014, BW Offshore has signed a sale and purchase agreement with Yinson to take 100% ownership of the FPSO Petroleo Nautipa, owned through Tinworth Pte. Ltd. Tinworth, and correspondingly the FPSO, has been 50/50 owned between BW Offshore and Yinson Holdings Berhad through their respectively wholly owned Norwegian subsidiaries. The price for the 50% stake acquired from Yinson is USD 49.3 million, plus approximately USD 10 million consideration for the working capital in Tinworth.
