UK-BASED OIL explorer Heritage Oil agreed to merge with Genel Energy International, a unit of Turkey's Cukurova Group CUKRO.UL, to create an oil producer focused on Iraqi Kurdistan worth around US$5.5bn.
FIRST AUSTRALIAN RESOURCES (FAR) and Shell Exploration Company have agreed to conduct an exploration program in the Sangomar Offshore, Rufisque Offshore and Sangomar deep Offshore Blocks off the coast of Senegal.
MAUREL & PROM HAS announced a fresh oil discovery in Gabon as it posted surging 2008 profits and reaffirmed plans to buy up assets made cheaper by a sharp drop in oil prices. "We are looking at farm ins, or partnerships in another company's oilfield,” chairman Jean-Francois Henin.
NOBLE ENERGY HAS made an oil discovery on block O at the Carmen prospect, offshore Equatorial Guinea. The well encountered approximately 7.9 m of net oil pay along with 4 m of net gas pay, the company says.