ExxonMobil could invest $15 billion through 2030 if it makes commercial oil discoveries in the Namibe Basin, Paulino Jeronimo, chairman for the Angola National Agency for Petroleum, Gas and Biofuels, said in Luanda.
De Bruyn said iMbokodo had been set up with an eye on the draft bill and that the company was “compliant with government expectations”.
This year, the company aims to focus its spending in Gabon. It will spend $100mn on development, of which $85mn will be in Gabon.
“My sense of Mozambique’s natural gas assets is that it can play an important role for the global transition,” she said.
The court based its order on allegations around various actions taken by Brown. He organised a site visit for shareholders, cancelled some landscape and catering contracts and introduced a new job performance rating.
“The cost of getting things done is astronomically higher for oil and gas than for the greener projects,” he said. “In the longer term it’s bullish for prices, as not enough investment is going into the areas where it should be.”
Energean approved the plan in January 2021. As such, the time it took from final investment decision (FID) to first gas is two years and two months.
The company said media reports had been “clearly calculated to spread false information”. Seplat will work with the ministry to tackle the allegations, it said.
Dolphin Drilling said the minimum term contract carried an effective dayrate of $325,000 including mobilisation.
In Cote d’Ivoire, the independent is planning to drill an exploration well in 2024 on CI-524. The company has also secured a new licence in the country, CI-803, where it sees insights from its Tano Basin knowledge.
“We remain fully focused on taking the Anchois project to first gas in a way that can continually grow the resource and project scale and help unlock the basin scale potential that we see across our licence area."
Eni had hoped to drill off Mozambique in 2020 but COVID-19 interrupted plans, Esgian analyst Matthew Donovan said.
“It is not related to Aker Energy, and the decision has no implication for Aker Energys plans in Ghana,” he said.
Some of these probes may result in the licence being revoked “if drastic steps are not taken by non-operating partners”.
The two talked about Chevron’s plans in Egypt. These include increasing production and co-operation in exporting gas from the region to Europe.
The Deepsea Bollsta rig carried out the Jonker work. Shell said the semi-submersible would remain on PEL 39 to drill further exploration and appraisal wells.
The company expects seismic results in mid-2023, Rushworth said.
Saipem’s contract did not, though, cover reactivation costs for the rig. As a result, Deep Value Driller entered into a loan facility for $75 million, which will mature in three years.
While the court found against them, the six organisations appear determined to continue their legal fight. “We will continue to work harder than ever in the courts and elsewhere”, Kamugisha said.
According to a recent Eni presentation, Agogo is due to start up in 2026. It will produce 175,000 barrels per day in 2027.
Last year, theft on the Nembe Creek Trunk Line (NCTL) and Trans Niger Pipeline ranged from 30% to 90%.
While Aker Energy has attributed delays at Pecan to Lukoil, the company has faced other problems. The company’s first plan was seen as overly aggressive and politically unpalatable, forcing it to rethink development.
“With higher production and lower capital, free cash flow is expected to rise into 2024 providing multiple pathways for the company to deliver value for our shareholders.”
It did though note that “armed and unknown men” had forcibly evicted Eroton staff from the Alakiri gas plant on February 24. These men claimed to represent OML 18 Energy Resource, a subsidiary of Sahara Group.
Wentworth held its vote yesterday, with 75.26% of shares voted in favour of the scheme. The deal required 75% approval.