The sale process for Verus Petroleum is being run by investment bank Jefferies and could fetch $500 million, according to the sources in a Reuters report.
Kenya said it had raised concerns with the Somali government a day before the auction after it noticed blocks in what it considers to be its maritime territory were included in the auction.
The investment is about $300 million less than the company forecast in May and includes reductions resulting from Alberta’s mandated oil production cuts.
State-run Polish gas firm PGNiG has agreed to buy Equinor's 42.38% stake in the Tommeliten Alpha gas and condensate field on the Norwegian Continental Shelf for $220 million, as part of its plan to diversify supplies, PGNiG said on Oct. 18.
Woodside Petroleum Ltd. on Oct. 18 said it was aiming to bring forward the target date for approving the Browse gas project off northwest Australia by a year to 2020.
Interior Secretary Ryan Zinke has hinted to at least six coastal states that he will keep their waters out of a looming plan to expand U.S. offshore drilling, telling some they lack enough oil to be included anyway.
The Oseberg Vestflanken 2 field in the North Sea came onstream on Oct. 14
U.S. Gulf of Mexico oil and gas production is returning to near normal levels after Hurricane Michael made landfall on the Florida Panhandle last week, data from an offshore regulator showed on Oct. 13, with oil output off 19% and natural gas production down less than 10%.
Woodside is also accelerating plans to build a pipeline to move gas from its Scarborough development.