Norwegian oil and gas producer Var Energi, backed by Eni and private equity firm HitecVision, is seeking around $1 billion for its Jotun production ship, a source with direct knowledge of the matter told Reuters on July 27.
Var would then lease the FPSO vessel, which has been upgraded recently, to extend production at its Balder field, the source added.
Eni owns around 70% of Var, currently producing around 300,000 barrels of oil equivalent per day, and HitecVision the rest, although the two hold equal voting rights.
The sale plan was first reported by Bloomberg. HitecVision, Var and Eni had no immediate comment.
Xodus Takes Strategic Approach to Decommissioning
2023-01-03 - Energy consultancy Xodus is applying its comparative assessment process as it tackles its most ambitious decommissioning project to date on the UKCS.
Tech Over Trial-and-Error: Improving Near-Well Bore Completions
2023-01-27 - Drill2Frac’s FlowFX solution helps fine-tune completion designs by modeling parameters such as the number of perf clusters and length of stages.
Commentary: 2023 Global Conventional Brownfield Investment to Near $200 Billion
2023-02-27 - South America and North Africa to see brownfield investment growth.
ADNOC Awards $80 Million PCSA for Hail & Ghasha Gas Development Project
2023-01-17 - The work contract is for early project activities following the completion of FEED by Technip Energies.
Nabors Sees Digital Twin Tech Improving Safety on Rigs
2023-03-16 - Virtual modeling of real-world rig floors can help robots relieve humans of the most dangerous jobs.