Rockhopper Exploration plc has agreed to acquire Beach Petroleum (Egypt) Pty Ltd (Beach Egypt) for $20.5m. The company will use its existing cash resources to fund the acquisition.

Scheduled for completion by mid-2016, the acquisition will allow Rockhopper to extend its hydrocarbons asset base to Egypt, while Beach Energy will be able to concentrate on Australia and surrounding areas.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Chevron Corporation is planning to sell its interests in Myanmar gas blocks for approximately $1.3bn in order to uphold cash reserves and dispose non-core assets in the current scenario of falling oil prices, according to certain banking sources.

Chevron has a 28.3% non-operating working interest in Yadana and Sein fields, whereas its subsidiary owns a 99% interest in Block A5 in the offshore Rakhine basin. The gas fields produced at a rate of 117 million metric standard cubic feet a day (Mmcfd) of gas in 2015.

"Chevron Corporation is planning to sell its interests in Myanmar gas blocks for approximately $1.3bn."

Woodside Petroleum Limited, PTT Exploration and Production PCL, Japanese trading houses and Chinese companies are the prospective buyers.

Det norske oljeselskap ASA has signed a pact with Centrica Resources (Norge) AS for the acquisition of a 30% stake in PL 442, PL 026B and PL 026 licenses in Frigg Gamma Delta and Rind discoveries.

The PL 442 permit encompasses an area of 90.2km², while the PL 026 and PL 026B permits cover a total area of 29.54km² in Norwegian North Sea.

Effective from 1 January 2016, the transaction will ensure the expansion of the company’s oil and gas assets portfolio in Norway.

Navios Maritime Acquisition Corporation has signed an agreement with an undisclosed company for the sale of two chemical tankers.

The sale includes Nave Constellation and Nave Universe tankers, and is expected to raise $74.6m, which will be used partly to repay debts and partly to meet working capital needs.

The deal is scheduled for completion in the third quarter of 2016, upon the fulfilment of existing chartering agreements.