“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.
Partners in Nigeria’s OML 127 and 130 continue to work on conversion to new terms – with success potentially triggering approval for the Preowei discovery.
Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.
Equatorial Guinea’s navy has arrested a VLCC that had fled from Nigeria, after an alleged attempted loading at the Akpo field.
Nigerian National Petroleum Corp. (NNPC) has renewed licences with leading international companies in the deepwater in a move expected to unlock new investments.
TotalEnergies is in the process of securing a rig to drill up to nine development wells, and two exploration/appraisal wells on Nigeria’s OML 130, Africa Oil has said.
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
Nigerian National Petroleum Corp. (NNPC) has signed a heads of terms with Cnooc Ltd and South Atlantic Petroleum (Sapetro) to bring to an end a dispute on OML 130.
Nigerian National Petroleum Corp. (NNPC) is to introduce a contact-tracing application across its locations in order to help curb the spread of coronavirus.
Africa Oil paid down $45.2 million of its debt during the first quarter, after receiving $87.5mn from its stake in three major Nigerian oilfields.
Petrobras has concluded the sale of its 50% stake in Petrobras Oil & Gas BV (POGBV), through which it held stakes in Nigeria’s Egina and Agbami fields.
Africa Oil will go it alone in the acquisition of stakes in major fields offshore Nigeria after its partners, Delonex Energy and Vitol Investment Partnership, both withdrew.