For now, the companies are waiting for a development licence. Aminex confirmed to Energy Voice that this “unlocks activity pertaining to the development of the field". This includes drilling production wells or well workovers.
Galp is drilling the Mopane 2 well, but Bank of America has raised concerns over the implied valuation, amid fears of a Namibia bubble.
While the deal is immediately accretive to Vaalco, the FPSO on Baobab will go offline in early 2025 for maintenance and upgrades. It should be back in production in 2026.
McDermott International faces a claim for “maximum recoverable damages” linked to its failure to complete a contract for BP offshore Mauritania and Senegal.
Panoro Energy expects growth to continue this year, targeting 40% more production than 2023, despite problems around drilling in Equatorial Guinea.
Perenco has begun drilling an appraisal well in Gabon, close to its shallow water Hylia South West discovery from December 2022.
A hearing in the Scottish courts this week will decide if planning consent for the UK’s largest undeveloped oil field, and a mature gas basin in the North Sea, will be blocked due to emissions produced by end-use petrol and gas customers.
Norwegian ocean services provider DeepOcean and Aberdeen-based well management firm Exceed Energy have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services. These will be offered to the decommissioning market globally.
Recently, Joides Resolution (JR), arguably the most famous research drillship of all time, was prematurely retired and is now in the early stages of being stripped of its equipment prior to scrapping.
The president of The Rockefeller Foundation, a multi-billion-dollar philanthropic investment house that began life investing the oil profits of John D. Rockefeller, has said the firm’s priority is an “equitable” energy transition.
At least three people are dead after a Sikorsky S76 helicopter crashed carrying oil workers in Nigeria.
ADC Energy announced it has extended a contract with TotalEnergies (PAR:TTE) after the French firm agreed to push ahead with at $9 billion (£6.9bn) oil and gas development offshore Suriname.
Aberdeen technology company Raptor Data has agreed a deal with drilling firm Archer to (OSLO: ARCH) target the well decommissioning market.
Dependence on fossil fuels in major advanced economies “is likely to have peaked” according to the Energy Institute (EI), after European use of hydrocarbons fell below 70% of primary energy for the first time since the industrial revolution – driven by demand reduction and renewable energy growth.
Reabold Resources (LON: RBD) has hailed the "excellent economics" of a new plan and a regulatory green light for its onshore gas project at West Newton near Hull.
The United Arab Emirates’ main oil company agreed to buy a 10% stake in a natural gas project in Mozambique, its second major deal this week as it seeks to expand the business globally.
Exxon Mobil Corp. and Shell Plc are among energy giants evaluating bids for a stake in Galp Energia SGPS SA’s major oil field offshore Namibia, according to people familiar with the matter.
French prosecutors asked survivors and families of victims of a jihadist attack in Mozambique three years ago for more information before a decision on whether to start an investigation into their claims against TotalEnergies SE of involuntary manslaughter, Agence France-Presse reported.
Namibia’s oil potential could one day match Guyana, where big discoveries have sparked an economic transformation and set the world’s biggest companies jostling for position.
Galp estimates reserves at the Mopane field in Namibia could be as high as 10 billion barrels of oil equivalent or higher.
Oil and gas service provider Petrofac (LON:PFC) has secured a $350 million contract with the national oil company of Equatorial Guinea.
The search for a missing offshore worker remains ongoing following a fatal fire at a Perenco-operated oil platform in Gabon.
An offshore worker remains missing following a fatal fire on a Perenco-operated oil platform which killed five people in Gabon.
A Senegalese opposition leader said he’ll renegotiate contracts with oil and gas companies if his bid for the presidency in this month’s election is successful.
Tullow Oil reported a surprise loss after writing down the value of reserves off West Africa as the company looks to boost growth.
For now, the companies are waiting for a development licence. Aminex confirmed to Energy Voice that this “unlocks activity pertaining to the development of the field". This includes drilling production wells or well workovers.
Exploration is not quite the dirty word it was in 2020-21, but appetite remains muted and highly selective.
Reconnaissance Energy Africa has set out plans to wrap up its joint venture process in April and begin drill its next well, in the Damara Fold Belt, in June.
Galp is drilling the Mopane 2 well, but Bank of America has raised concerns over the implied valuation, amid fears of a Namibia bubble.
While the deal is immediately accretive to Vaalco, the FPSO on Baobab will go offline in early 2025 for maintenance and upgrades. It should be back in production in 2026.
BP plans to invest about $1.5 billion in Egypt during the next few years as it seeks to develop gas projects and drilling in the North African country.
