Africa Oil refinances, but local concerns continue at OML 130
Africa Oil bought a 50% stake in Prime in January 2020 for $519.5mn. It has taken $712.5mn in dividends from the company, recovering its investment in under three years.
Africa Oil bought a 50% stake in Prime in January 2020 for $519.5mn. It has taken $712.5mn in dividends from the company, recovering its investment in under three years.
Murphy executive vice president for operations Eric Hambly said the company intended to “accomplish great things” in Cote d’Ivoire.
"Starting with 2027, we will have a new natural gas source with potential to significantly increase the country's natural gas production, thus securing safety of supply.”
China National Petroleum Corp. (CNPC) has signed up to take 4 million tonnes of LNG from Qatar and a stake in the North Field East (NFE) project.
“Diesel may win out as being the easy choice,” Alexander said, but it poses other challenges around maintenance and lifespan. “When we started, the conversation around diesel was on cutting costs – and we are still able to do that. We can offer 30-40% cost savings.”
The company has said the expansion of its fleet drove this increase. Its main shipping routes are from the Arabian Gulf and West Africa into Asia and Australia.
Pemex discovered Trion in 2012. The Mexican company brought BHP Billiton in to the plan in 2016 in order to help develop the field. Now, the companies have drilled six wells on the field. Woodside bought BHP in 2022.
“It has not been as easy as it used to be. We need to reach out to other countries like Kenya,” he said.
Australia-listed minnow FAR has given up its plans to grow and instead opted to wind down its business and return cash to shareholders.
“There are notorious navy commanders known to be kingpins in this business.”
Talks were reportedly under way on the Gaza Marine development plan last year. The Washington Post said development work would cost around $1.4 billion. The report said development would take just over a year from a final agreement.
The PSC was signed under the 2019 hydrocarbons law. Sonatrach has signed three other such deals, S&P Global has said, with Eni, Sinopec and a consortium of Occidental, Eni and TotalEnergies.
Phase 2 will involve the use of an existing FPSO. Production is due to start by the end of 2024. This will allow Eni to export oil, while it will send gas onshore via a pipeline to power plants.
“However, there are challenges. Nigeria is not known for short lead-times, particularly where JV projects are concerned."
“Price is price is price. The only way to produce hydrogen very cheaply is if you have baseload power 24/7,” Mussat said.
Gulf Keystone had previously trucked Shaikan crude to the Turkish border, for onward transport via pipeline to Ceyhan in 2015. It ended trucking in 2019.
“The just transition commission has been running for years. The commission has consumed more buffets at lunch time than they have created jobs. The jobs in the Scottish energy transition are all being done halfway round the world.”
The project could face a two and a half year pause, “if we don’t get the business models right”, Manson-Whitton said.
The convertible notes fully fund Sound’s capital requirements until the end of the year. Sound launched a farm-out process in August 2022.
“The appointment of such a heavy-weight candidate reflects Afentra’s strong ambition to build a material and credible player within the African energy sector as we seek to play an important role in a responsible energy transition across the continent.”
“We are planning to fast track the first exploration well on Buenos Ayres within the next 12-18 months, subject to acquiring environmental approvals.”
Total began producing at Ofon in 1997. It started up a second phase, which brought an end to gas flaring and increased capacity to around 100,000 barrels per day, from 50,000 bpd, in 2014.
According to the Joint Typhoon Warning Center, Biparjoy is a cyclonic storm that risks damaging winds, "heavy rainfall, storm surge, rough seas, mudslides, and flash flooding".
Tullow expects the operator to carry out new drilling in 2025. The plans is for seven infill wells, two producers on West Espoir and two producers and three injectors on East Espoir.
"Upon completion, the new facility is set to create over 100 job opportunities for technicians and workers, thereby contributing to the local employment landscape," he said.