Deals this week: Euronav, Tamar Petroleum, Pandion Energy

Euronav NV has sold its very large crude carrier (VLCC), Flandre, as part of its fleet renewal programme.

The company has received $45m for the sale.

Built in 2004, the VLCC has a deadweight tonnage of 305,688t and gross tonnage of 159,016t.

Tamar Petroleum Ltd plans to acquire a 7.5% stake each in I/12 Tamar and I/13 Dalit leases for $900m from Noble Energy Inc.

Both leases are in Levantine Basin. Tamar field is at a water depth of approximately 1,670m, while the Dalit gasfield is at a depth of 1,372m.

Scheduled to be complete by the end of 2018, the transaction enables Tamar Petroleum to expand its oil and gas portfolio in Israel.

Pandion Energy AS has entered an agreement to acquire a 10% stake each in Norwegian North Sea licences PL006B, PL033 and PL033B from Aker BP ASA.

The licences include Valhall and Hod fields, with the aim to expand Pandion’s Norwegian oil and gas assets portfolio.

Situated in the PL006B and PL033B licences, the Valhall field produced 117,000  standard cubic metres (Mscm) of oil equivalent in September.

The transaction is planned to be completed by the end of this year.


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