EnerMech Signs Up High Pressure Experts In North Sea Deal

EnerMech Ltd has signed a distributorship agreement with Innovative Pressure Technologies (IPT), the leading US manufacturer of Ultra High pressure tube, valves and fittings. The dealership covers the oil, gas and energy industries in the UK North Sea and gives EnerMech a competitive advantage in this specialist market place. Full text

Total acquires three permits northeast of Australia Ichthys

2007.10.29 - Company News

Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.

Covering a respective area of 1 628, 1 220 and 667 square kilometres, Blocks WA-341P, WA-343P and WA-344P are located roughly 200 kilometres offshore, in water depths varying from 50 to 250 metres.

These new acquisitions further illustrate Total's commitment to strengthening its presence offshore the northwest of Australia, a region with rich gas reserves. The Group now has interests in 15 permits on Australia's North West Shelf, most of them situated in Browse Basin, where the Group has a 24% interest in the WA-285P permit containing the Ichthys field. The Ichthys liquefied natural gas project, currently under study, should come on stream early next decade.




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PGS - Acquisition of Depth Imaging Company AGS Inc

Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.