Monday, March 27, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Market

Energean Oil & Gas Plc excludes Algerian assets from Edison E&P acquisition

11 months ago
in Market
Energean Oil & Gas Plc excludes Algerian assets from Edison E&P acquisition
Share on FacebookShare on Twitter


It reduces the scope of the transaction, and, reduces the deal consideration by US$150mln.

Latest Oil News

Libyan state oil chief stresses support across divided country

Libyan state oil chief stresses support across divided country

March 26, 2023
Iraq wins landmark case against Turkey over Kurdish oil exports

Iraq wins landmark case against Turkey over Kurdish oil exports

March 25, 2023
UK government expected to offer energy companies windfall tax relief

UK government expected to offer energy companies windfall tax relief

March 24, 2023
Fears of an energy price surge percolate through sector

Fears of an energy price surge percolate through sector

March 23, 2023

() has announced changes to its proposed deal to acquire Edison E&P, excluding assets in Algeria from the transaction.

It comes after the two firms encountered difficulties obtaining consent of the Algerian authorities – previously Edison had been invited to discuss a transaction with state-backed Sonatrech.

As a result of the exclusion, the deal consideration reduces by around US$150mln.

READ: Energean sees “excellent” volumes at Israeli discovery

Energean in July stuck a deal to acquire Edison for US$750mln. It sees the Israeli firm pick up producing assets in Egypt, Italy, Algeria, the UK North Sea and Croatia, development assets in Egypt, Italy and Norway.

Later, in October, it inked a contingent deal to sell-on Edison’s North Sea portfolio to Neptune Energy for US$250mln in cash.

Today, the company told investors that it is working to complete the remaining Edison acquisition as soon as is possible in 2020.

In turn, Energean thereafter intends to complete the sale to Neptune as soon as reasonably practicable.

FPSO hull sails away from Chinese shipyard

Elsewhere, in a separate statement, Energean announced the sail away of the FPSO hull from a shipyard in China.

It is now being towed to the Sembcorp Marine Admiralty Yard in Singapore, for further construction, before it is mobilised to the Karish field in Israel for installation.

Energean described the sail-away as a key milestone for the Karish project timetable, which presently sees ‘first gas’ on track for H1 2021.



www.proactiveinvestors.co.uk

Tags: acquisitionAlgerianAssetsEdisonEnergeanexcludesGasoilPlc
Previous Post

Ilhan Omar wants Biden to shut down another oil pipeline

Next Post

How Will Rising Oil Prices Impact The Energy Transition?

Related Posts

Libyan state oil chief stresses support across divided country

Libyan state oil chief stresses support across divided country

by Oil Market News
March 26, 2023
0

The head of Libya’s state oil company said he had the backing of both the government in Tripoli and the...

Iraq wins landmark case against Turkey over Kurdish oil exports

Iraq wins landmark case against Turkey over Kurdish oil exports

by Oil Market News
March 25, 2023
0

Iraq has won a landmark legal case against Turkey over Kurdish oil exports, which the federal government in Baghdad has...

UK government expected to offer energy companies windfall tax relief

UK government expected to offer energy companies windfall tax relief

by Oil Market News
March 24, 2023
0

Britain’s oil and gas companies are next week expected to be offered the prospect of windfall tax relief, as prime...

Fears of an energy price surge percolate through sector

Fears of an energy price surge percolate through sector

by Oil Market News
March 23, 2023
0

This article is an on-site version of our Energy Source newsletter. Sign up here to get the newsletter sent straight to...

US regulator vows ‘aggressive’ crackdown on oil and gas methane leaks

US regulator vows ‘aggressive’ crackdown on oil and gas methane leaks

by Oil Market News
March 22, 2023
0

The US’s top environmental enforcer vowed that no oil and gas systems would be “getting out of jail free” as...

Global commodity traders open to increasing Russian oil volumes

Global commodity traders open to increasing Russian oil volumes

by Oil Market News
March 21, 2023
0

Commodity traders Trafigura and Vitol have said they would consider trading more Russian oil this year if they received clear...

Next Post
How Will Rising Oil Prices Impact The Energy Transition?

How Will Rising Oil Prices Impact The Energy Transition?

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

Qatar, UAE energy ministers say gas will be needed for long time

Qatar, UAE energy ministers say gas will be needed for long time

2 months ago
New Mexico expected to bring in extra $300 million from oil and gas

New Mexico expected to bring in extra $300 million from oil and gas

10 months ago
Fuel demand, lower crude oil prices allow for relief at the pump

Fuel demand, lower crude oil prices allow for relief at the pump

8 months ago
Myanmar coup could derail billions in oil and gas investment, stall energy projects

Myanmar coup could derail billions in oil and gas investment, stall energy projects

10 months ago
Gold Has First Winning Week in Three; Outlook Cloudy By Investing.com

Gold Has First Winning Week in Three; Outlook Cloudy By Investing.com

11 months ago
ADVERTISEMENT
Libyan state oil chief stresses support across divided country

Libyan state oil chief stresses support across divided country

March 26, 2023

Iraq wins landmark case against Turkey over Kurdish oil exports

March 25, 2023

UK government expected to offer energy companies windfall tax relief

March 24, 2023

Fears of an energy price surge percolate through sector

March 23, 2023

US regulator vows ‘aggressive’ crackdown on oil and gas methane leaks

March 22, 2023

Global commodity traders open to increasing Russian oil volumes

March 21, 2023

Crude Oil

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

February 1, 2023
Oil rises after U.S. fuel stocks draw down; economic concerns loom

Oil prices settle steady on higher U.S. demand, weaker dollar

January 31, 2023
S&P 500 Down 1%; Crude Oil Drops Over 2%

S&P 500 Down 1%; Crude Oil Drops Over 2%

January 30, 2023
Russia Can’t Replace the Energy Market Putin Broke

Russia Can’t Replace the Energy Market Putin Broke

January 29, 2023

Investing

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

February 1, 2023
Crude Oil Shielded From Bond and Stock Market Rout

Clean-energy investing poised to top money backing oil and gas after hitting a record

January 31, 2023
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

January 30, 2023
Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

January 29, 2023

Market

Libyan state oil chief stresses support across divided country

Libyan state oil chief stresses support across divided country

March 26, 2023
Iraq wins landmark case against Turkey over Kurdish oil exports

Iraq wins landmark case against Turkey over Kurdish oil exports

March 25, 2023
UK government expected to offer energy companies windfall tax relief

UK government expected to offer energy companies windfall tax relief

March 24, 2023
Fears of an energy price surge percolate through sector

Fears of an energy price surge percolate through sector

March 23, 2023

OPEC

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

February 1, 2023
‘OPEC does not control the price’: OPEC President | OPEC News

‘OPEC does not control the price’: OPEC President | OPEC News

January 31, 2023
OPEC+ Closely Watches Chinese Factory Data

OPEC+ Closely Watches Chinese Factory Data

January 30, 2023
Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

January 29, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.