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  1. Mitra negotiates Vietnam farm-in, Stag oil field acquisition offshore Australia

    Offshore staff VANCOUVER, Canada – Mitra Energy has agreed to acquire a 30% interest from INPEX subsidiary Teikoku Oil (Con Son) in the production-sharing contract for blocks 05-1b and 05-1c offshore southern Vietnam . The total cash consideration is $14.3 million, with further potential payments of $15.7 million linked to the project sanction and delivery of first sales gas from the project. Both blocks are 350 km (217 mi) offshore in the Nam Con Son basin in water depths of around 120 m (393 ft), and include two fully appraised gas and condensate discoveries, Dai Nguyet and Sao Vang , close to the Nam Con Son gas transportation pipeline and existing production facilities. The discoveries, Mitra adds, are strategically located to supply gas to operating power generating complexes in the industrial area of southeast Vietnam. Partners in the blocks are Idemitsu Oil and Gas and JX Nippon Oil & Gas Exploration, each with a 35% interest.  Mitra says the acquisition will build on its existing U Minh and Nam Du gas discoveries in the Malay Tho Chu basin.  A. Paul Blakeley, executive chairman, said: “Block 05-1 holds significant appraised gas resource capable of being developed quickly and put onto production at high margins and with material value accretion within our portfolio. “The sale of this gas into the power sector in Vietnam is a natural hedge in a low oil price world, and this project has a high likelihood of early approval being so well positioned, close to the Nam Con Son pipeline, to deliver gas to existing industrial consumers and for power generation.” Consultant ERC Equipoise will prepare an independent resource assessment of the Dai Nguyet and Sao Vang fields to complement Mitra’s internal review and evaluation of the reserves. The proposed acquisition remains subject to a pre-emption right held by the existing partners and a statutory pre-emption right held by Petrovietnam under Vietnamese law. Last month Mitra Energy signed an agreement with Quadrant Northwest and Santos Offshore to acquire a 100% interest in the Stag oil field, 60 km (37 mi) offshore Western Australia in 47 m (154 ft) of water the Carnarvon basin, for $10 million, plus further contingent payments. Mitra will operate the field which has remaining reserves of around 10 MMbbl. Stag has been in production since 1998 and is currently producing roughly 3,750 b/d from 10 active wells. The company has identified various cost reduction measures to bring down operating costs, and plans to drill one appraisal pilot and three infill producer wells in the West area in 2017 and up to three further wells in the East area in 2018. Mitra may extend appraisal to the undrilled low-risk exploration area of Hart and Stag South. 08/22/2016 Share your news with Offshore at news@offshore-mag.com

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    Mon, 22 Aug 2016

  2. Enable Midstream commissions Oklahoma gas plant

    Enable Midstream Partners LP, Oklahoma City, has fully commissioned a second cryogenic natural gas processing plant at its Bradley processing complex in Grady County, Okla.

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    Tue, 12 Jul 2016

  3. Trimble introduces cloud asset data collection solution for natural gas utilities

    The cloud-based, integrated mobile asset data collection solution enables natural gas distribution operators to improve data quality, export collected data to systems of record and streamline regulatory reporting and compliance.

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    Fri, 22 Jul 2016

  4. Kinder Morgan to acquire midstream position in Bakken shale play

    Kinder Morgan Inc. has a definitive agreement whereby KMI will acquire Hiland Partners from its founder, Harold Hamm, and certain Hamm family trusts, for a total purchase price of $3 billion, including the assumption of debt.

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    Thu, 22 Jan 2015

  1. EBCS holds open season for crude oil gathering system

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    Tue, 4 Feb 2014

  2. Norway approves Johan Sverdrup plans

    The Norwegian Ministry of Petroleum and Energy has approved the Phase one plan for development and operation for the Johan Sverdrup oil and gas field in the central Norwegian North Sea.

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    Fri, 21 Aug 2015

  3. Study examines options for protecting harsh environment subsea facilities

    TWI has initiated a joint industry project examining the benefits of combining thermally-sprayed aluminum coatings and cathodic protection to thermally cycled risers and subsea pipelines.

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    Thu, 28 May 2015

  4. Marlin Midstream Partners changes name to Azure Midstream Partners

    Marlin Midstream Partners LP has changed its name to Azure Midstream Partners LP. The change is being made to give aligned identity to the Azure family of companies, Azure's employees and customers, and Azure's general partner. Also effective immediately, the general partner of Azure has changed ...

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    Wed, 20 May 2015

  5. Pipeline MLP dominates first-quarter North American IPO data

    An oil and gas company that went public as a master limited partnership (MLP) generated more proceeds than any other North American IPO during the first quarter of 2015. Columbia Pipeline Partners LP, an owner and operator of natural gas transportation pipelines and related energy infrastructure ...

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    Wed, 25 Mar 2015

  6. Kinder Morgan closes $3 billion Hiland acquisition

    Kinder Morgan Inc. has closed its acquisition of Hiland Partners for a total purchase price of $3 billion, including the assumption of $1 billion of debt.

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    Mon, 16 Feb 2015

  7. NGL to upsize Grand Mesa Pipeline system

    NGL Energy Partners LP has decided to increase the size of its 100% owned Grand Mesa Pipeline system to a higher-capacity 20-inch design.

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    Thu, 19 Feb 2015

  8. Oil, gas infrastructure investments essential, House panel told

    Investments in oil and gas transportation and storage should move ahead because they are essential in continuing the US economic recovery and North American energy renaissance, witnesses told a US House Transportation and Infrastructure subcommittee.

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    Wed, 4 Feb 2015

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