Kosmos will consider its options this year. Inglis said it would be likely that the second phase would have some element of fixed contract and spot pricing. “We will not have to have sold all the gas” at final investment decision (FID), he said.
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.”
The plan, he said, would not be “to appraise everything”. Instead, the partners in the block would “accelerate the time to market … if we have the chance to really confirm the volumes which seems to have been discovered, there will be room to make fast track developments, like we did on Block 17, 25 years ago.”
Shell’s deepwater unit is using the rig for infill drilling around its Bonga FPSO.
While work in C2 is just beginning, the MPME said Shell was planning to drill another licence in the coastal area before the end of 2023.
Total discovered Girassol in 1996 and began producing within five years. The field celebrated its 20-year anniversary in 2021.
The production pipelines will run to the FPSO, a distance of around 80 km. The FPSO removes liquids – primarily water and condensate – and then exports gas to the floating LNG (FLNG) hub, around 35 km away.
Past drilling on the block has suggested there is potential, with an “extensive prospect inventory” within tie-back distance to Ceiba and the Okume complex.
CEO Silva said Galp’s upstream was now purely focused on Brazil, “at least until we have more news from [Sao Tome] and Namibia”.
SLGC is intended to tackle a projected supply gap at the Angola LNG facility.
Gabon is producing around 200,000 barrels per day. Should Tigre be successful, and if the in-place forecasts are accurate, the project could double Gabon’s production, S&P said.
Shelf won more work in Egypt for its Trident 16 jack-up in January. Petrobel signed a one-year contract extension for the rig, with an option for another year.
NFE CEO and chairman Wes Edens said the deal would allow the company to “focus solely on our own FLNG portfolio that we own 100%”.
“Our rig is still available,” a Palmeron official said. “We believe the contract should be ours. If we do it, we would be the first local contractor in Africa to do drilling. We want the IOCs and the world to encourage us,” he continued.
As a result, they agreed the “clean and amicable exit for Addax by resolving all the PSC contractual issues, including litigation”.
“That part of west Libya is relatively stable. If you’re going to choose a project to develop it’s a good choice,” Kinnear said.
“Panoro is entering a phase of continual drilling activity which will see at least 10 wells being drilled in Gabon and Equatorial Guinea over the next 12 to 15 months and deliver a step-change in working interest production,” said company CEO John Hamilton.
Mellitah is the origin point for the Greenstream pipeline, which carries gas from Libya to Italy, via Sicily.
BP and Kosmos Energy will present a plan of development for the Yakaar-Teranga this year and reach a final investment decision, a Senegalese official has said.
Shell spudded the Jonker well in December. “I’m not saying anything apart from to say it is going well, it is going very well,” Shino said to applause.
The facility will allow LNG production to “significantly increase”, Expro said. It is intended to allow additional gas production support power generation.
The FPSO for BP’s Greater Tortue Ahymeyim (GTA) LNG project has left China and is heading for its site off Mauritania and Senegal.
The agency said the extension would give the IOCs and NOCs that had bought data “time to continue their technical evaluation of the fantastic acreage”.
Total production for 2022 reached 41,000 barrels of oil equivalent per day, of which 75% was gas. For 2023, Energean forecasts this will increase to 131,000-158,000 boepd. Virtually all of the increase will come from Israel.