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Qatar Petroleum will hold a 45% participating interest in the PEL 39 exploration license pertaining to Block 2913A and Block 2914B, while Shell (the operator) will hold a 45% interest, and the National Petroleum Corporation of Namibia (NAMCOR) will hold the remaining 10% interest.
Deltic estimates that the Pensacola Prospect contains gross P50 Prospective Resources of 309 billion ft3 (with a P90-P10 range of 39 billion ft3 to 1181 billion ft3).
The company has completed a top-hole batch drilling campaign for five wells for Sabah Shell Petroleum Company’s Malikai Phase 2 Project.
The package of assets consists of Shell Egypt’s interest in 13 onshore concessions in Egypt's Western Desert and the company’s share in Badr El-Din Petroleum Co. (BAPETCO).
Intoware will deploy its digital software platform, WorkfloPlus, to help improve Shell’s operational efficiencies through industrial connected working.
The transaction includes the transfer of approximately 450 000 net acres in the Fox Creek (Kaybob) and Rocky Mountain House (Willesden Green) areas, along with related infrastructure, currently producing around 30 000 boe/d from more than 270 wells.
OGUK Sustainability Director, Mike Tholen, has said that it is "an exciting time" for the UK's oil and gas industry.
Shell has set out its strategy to accelerate its transformation into a provider of net-zero emissions energy products and services.
Shell’s adjusted earnings for 2020 were US$4.8 billion, a fall of 71% from 2019.
The transaction is one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion.
Equinor and YPF will hold 35% equity in the CAN 100 block, located in the North Argentinian Basin, while Shell will hold the remaining 30%.
Shell has said that the marine 3D seismic survey, planned over the Resolution and Endeavour gas discoveries, is now anticipated to be acquired in February 2022 rather than 1Q21.