Joint Ventures

Exploration & Production , Joint Ventures

Suncor to Operate Syncrude Oil Sands by 2021

Suncor, as 58.74% owner of the Syncrude Joint Venture, said Nov. 23 that together with the other Syncrude joint venture owners—Imperial Oil Resources Ltd., CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership—have agreed in principle for Suncor to become the operator of the Syncrude project by the end of 2021.

November 24, 2020

Investment , Energy Transition , Joint Ventures

Eni, Hitecvision Form Nordic Renewable Energy Venture

Norwegian private equity group HitecVision and Italy’s Eni have formed a joint venture to develop renewable energy in the Nordic region, building on their existing cooperation in oil, they said on Nov. 11.

November 11, 2020

Exploration & Production , Policy & Regulations , Joint Ventures

Mexican Energy Minister Open to Pemex Farm-outs in Possible Shift

Mexican Energy Minister Rocio Nahle said on Oct. 26 so-called farm-outs, or joint ventures, could be done with state oil firm Pemex if feasible projects are put forward.

October 27, 2020

Business , Energy Transition , Technology , Subsea , Joint Ventures

Proserv, Synaptec Form Alliance Set to Boost Role in Energy Transition

The partnership represents a key step on Proserv’s technology roadmap as it seeks to play a significant part in the energy transition, the controls technology company says.

October 7, 2020

Field Development , Shale Plays , Acquisitions & Divestitures , Joint Ventures

U.S. Energy Development Acquires Interest in Permian Basin Project

Texas-headquartered U.S. Energy Development Corp. is diving into the Columbia Project development in the Permian Basin with Shell Oil Co., having acquired an $8.5 million interest in the project.

September 16, 2020

Unconventional , Shale Plays , Joint Ventures

Ecopetrol Aims to Drill 100 Wells in Permian Basin by End-2021

Colombian oil company Ecopetrol, which entered a joint venture in the Permian Basin with Occidental Petroleum in November 2019, said it plans to drill another 22 wells this year.

September 14, 2020

Public Capital , Shale Plays , Acquisitions & Divestitures , Joint Ventures

Ovintiv, PetroChina Split Duvernay Assets in JV Breakup

The partnership dates back to December 2012 when PetroChina agreed to pay Ovintiv, going by Encana at the time, CA$2.18 billion for a 49.9% stake in its Duvernay shale prospect.

September 2, 2020

Public Capital , Emissions , Energy Transition , Acquisitions & Divestitures , Joint Ventures

Eni Expands Wind, Solar Position in US with Multimillion-dollar Deal

Through Novis—a partnership between the Italian supermajor and Falck Renewables, Eni will acquire a stake in BEHUS, which develops wind and solar projects in the U.S.

August 27, 2020

Public Capital , Exploration & Production , Joint Ventures

Empire Petroleum Forms JV to Develop Recently Acquired East Texas Properties

Petroleum Independent & Exploration has identified the first of many workover/recompletion programs to potentially uplift field production in Empire Petroleum’s Fort Trinidad Field asset in Houston and Madison counties, Texas.

August 14, 2020

Technology , Joint Ventures , Pipelines

WhiteWater Midstream to Provide Permian Basin NGL Transportation Solutions

WhiteWater Midstream, MPLX LP and West Texas Gas Inc. (WTG) have formed a joint venture (JV) on Aug. 6 to provide NGLs takeaway capacity from MPLX and WTG gas processing plants in the Permian Basin to the NGL fractionation hub in Sweeny, Texas.

August 6, 2020