Deals this week: President Energy, Petronas, Union Jack Oil

President Energy has acquired a 90% stake in the Las Bases and Puesto Prado concessions from the Rio Negro Province, Argentina, for $9.9m.

Provincial energy company EDHIPSA will hold the remaining 10%.

Awarded for a ten-year term with an option for renewal, the concessions are estimated to contain 1P category hydrocarbon reserves of one million barrels, which are expected to be increased to four million barrels of 2P by 2019.

The acquisition is expected to help President Energy gain consolidated critical mass in the important Neuquén Basin, generate revenue generation by the acquired infrastructural assets and allow the company to venture the route for Estancia Vieja gas.

Based in the UK, President Energy is engaged in oil and gas exploration.

Petronas LNG (PLL) has agreed to supply 0.8 million tonnes of liquefied natural gas (LNG) per annum to Vitol Asia for a period of up to 15 years.

PLL proposes to source gas from the LNG Canada export project in Kitimat, British Columbia, and from its global LNG supply portfolio. The supply is expected to begin in 2024 and will be delivered on an ex-ship (DES) and free-on-board (FOB) basis.

Based in Malaysia, Petronas LNG is an LNG trading, transport and supply company, while Singapore-based Vitol Asia is a commodity trading firm.

Union Jack Oil has acquired a 16.65% interest in petroleum exploration and development licence PEDL183 in the UK from Rathlin Energy, under a farm-in deal.

Comprising the West Newton A-1 UK onshore gas discovery, the PEDL183 development licence is forecasted to contain resources of 189 billion cubic feet (Bcf) of gas-equivalent or 31.5 million barrels of oil-equivalent (Mboe).

Union Jack oil is an onshore oil and gas exploration company, while Rathlin Energy is engaged in oil and gas exploration and development.

Both companies are based in the UK.

Jacobs Engineering Group has signed an agreement with Woodside Energy to provide brownfield engineering and procurement services at the Karratha gas plant (KGP) in Western Australia.

A part of the North West Shelf project, the KGP integrated gas production system is expected to produce LNG, domestic gas, and condensate and liquefied petroleum gas (LPG).

Jacobs Engineering Group is a US-based technical professional services provider, while Woodside Energy is an Australian subsidiary of Woodside Petroleum that is engaged in oil and gas production.