“Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems.”
The French company operates 11 fields on- and offshore Congo, producing 25,000 bpd in 2021.
ExxonMobil has won two blocks offshore Egypt, in the Nile Delta, covering more than 11,000 square km.
“We look forward to commencing Apex’s first gas production in 2023 and becoming part of the exciting Egyptian natural gas success story,” he continued.
Smith noted the opposition from shareholders to the Tullow merger. “The message from shareholders was that there was a preference for cash returns over long-term delivery. We listened to that and [the NewMed deal] offers a lot of cashback, while also being energy transition led.”
The Blackford Dolphin arrived in Las Palmas on November 24, 2022, following a delayed departure from Mexico and reduced transit speed.
The AG said this failure would have a “disastrous effect of capital flight and commercial fraud”.
Shelf Drilling has extended the contract on its Shelf Drilling Tenacious jack-up, offshore Angola.
Capricorn Energy has conceded that it expects to hold an EGM on February 1 but has warned shareholders against rejecting its proposed combination with NewMed Energy.
Fenikso, previously known as Lekoil, has settled its disputes with its former CEO, with half its board also stepping down.
Kuwait Energy Egypt will plug and abandon the most recent well on Egypt’s Abu Sennan licence, United Oil & Gas has said.
Invictus may choose to drill Mukuyu-2 this year or the Baobab-1 well. The company has not yet committed.
The company believes that optimisation of the drilling, informed by experience from the MOU-1 well, will keep costs around the same level.
"The signing of these agreements confirms our company's desire to strengthen its partnership with the Gabonese republic and to pursue the development of its activities in Gabon,” said Henri-Max Ndong-Nzue, the head of the Gabonese unit.
Genel is planning to drill a well on the SL10B13 block, in which it has a 51% stake and is the operator.
Minister El-Molla said Egypt had doubled its efforts to attract new investments in the hydrocarbon sector in 2022.
ReconAfrica said that it would wait for results from the geophysical data before drilling the well. It will now begin drilling in late February next year.
Nigeria has announce a mini bid round focused on the deepwater, saying this would be the first of a number of such offerings.
Palliser Capital reports more Capricorn Energy shareholders have backed its plans to remove the board and scrap proposed merger plans with NewMed Energy.
PTT Exploration and Production (PTTEP) has struck a deal to sell its 2.5% stake in Block 17/06 to Somoil and exiting the country.
Northern Ocean owns the Deepsea Mira, which is currently warm stacked in Norway. The company also owns the Deepsea Bollsta, which began drilling a well for Shell this week.
Tullow Oil has signed a licence for a new block offshore Cote d’Ivoire, adjacent to a licence it already controls.
It took only days for Savannah Energy’s plans for Chad to come unstuck, as the government threw up objections to its ExxonMobil acquisition.
Shell has been granted leave to take its legal fight to secure acreage offshore South Africa to the Supreme Court of Appeal.
Nigeria has turned around its production doldrums from the summer, bringing terminals back online and boosting exports.