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.
ReconAfrica said the ECC would allow it to drill exploration and appraisal wells in the Kavango Basin, from this month until July 2026.
Exxon is looking to nearly double its LNG portfolio, which currently stands at 24 million tonnes a year globally, by 2030, either through new projects, joint ventures or third-party offtake agreements, said Clarke.
“At least three exploration wells offshore the Northern Cape province will be drilled in 2024 to prove the petroleum resource potential in the Orange Basin.”
In order to provide a “strong warning and deterrent” to others participating in the stolen oil trade, NNPC said the vessel would be destroyed. Such a move, it said, was of “paramount importance”.
At this point, the report said, drilling lost five days. It attributed this to “trying to latch on to the wellhead because the rig compensator failed”. It noted the “situation was exacerbated by the rig guide funnel having been left behind in Norway”.
The two regulators must “immediately comply”, it said, and “ensure that no duplication of regulatory responsibilities occurs across any activity”.
PwC had acted as external auditor for SDX from 2012 until the end of 2022. SDX replaced PwC with Crowe UK.
The first was on increasing production at Tin Fouyé Tabankort (TFT). The two companies agreed to convert the TFT II and TFT Sud contracts to the new hydrocarbon law, which Algeria passed in December 2019.
Shell has a 25% stake in the Burullus Gas joint venture, which is the operator of WDDM. This supplies gas to the domestic market and to Egyptian LNG, at Idku.
A statement from Chad’s hydrocarbons ministry said the event symbolised the “deep friendship” between the two countries.
Woodside has said there is a one-well commitment on the licence, due by the end of 2025.
ONGC Videsh is reconsidering taking a stake in Tullow Oil’s Kenya assets following the exit of other partners in the project.
The ministry had expected a final investment decision (FID) on the $4.5 billion Hoima facility by the end of June. The aim was for the facility to be ready for first oil from the Lake Albert fields in late 2025.
The former owner will be on hand to provide technical support, said Pecan Energies CEO Eiliv Gjesdal. Previously, he was CFO for Aker Energies.
Nigeria will save more than 21 trillion naira ($28 billion) in two years after scrapping gasoline subsidies and allowing its currency to weaken, according to the World Bank.
Eni acquired its environmental licence for Coral Sul in 2015. The FLNG facility shipped its first cargo in November 2022.
Angola’s regulator is focused on attracting investment into the upstream, putting a particular focus on new investment from medium and small companies, according to a recent presentation.
“It’s transition on our own terms, with our own resources. We need to get smarter about how we articulate that, not as victims, or as people to be allowed to do things,” said Yvonne Ike, head of sub-Saharan Africa at Bank of America. “We need to work with the countries that get it, so from the Gulf, from Asia.”
Following Oun’s comments, the GNU on June 29 claimed to have carried out a drone strike on a site used by Russian mercenaries, the Wagner Group.
“Thanks to our proven know-how and the use of innovative solutions, Perenco has once again demonstrated its ability to transform previously untapped deposits into sources of vital energy production.”
The company then self reported to the French authorities. The PNF investigation focused on the two West African states and then expanded into work in Angola.
Eni reports production from 18 blocks, of which it operates 12 – with 10 offshore and two onshore. In the upstream, its focus is around the deep waters off Pointe Noire and, onshore, in Koilou.
Latham said the industry admired “operators who can not only open new frontiers, but also find large volumes of advantaged resources. TotalEnergies recent efforts and discoveries have been excellent examples of both trends.”
“Many financial institutions have refused to underwrite this project and if TotalEnergies backs off, the government of Uganda would have a hard time funding this project, so we can win."
Springfield is in conflict with Eni over this field. Springfield drilled the Afina discovery in November 2019.
