North Sea M&A quick off the blocks
DNO’s swoop for Faroe could mark the start of another busy year for changes in asset ownership
In January, Norwegian independent DNO had an improved 160p/share offer for Aberdeen-headquartered North Sea E&P firm Faroe Petroleum accepted, following a previous 152p/share bid late last year. Just as that union was consummated, press reports emerged spotlighting UK independent Premier Oil as a prime candidate to buy North Sea assets on the block, following US major Chevron's decision to sell off its portfolio in the Central North Sea and potentially its stake in Clair in the West of Shetland (WoS). In December, private equity-backed Chrysaor was also linked with a move for Chevron's assets. The three-month exclusivity deal into which UK petrochemicals heavyweight Ineos entered to nego
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
