RoyalGate seeks arbitration over Africa Oil award
RoyalGate Energy has informed Equatorial Guinea that it intends to begin arbitration over Block Z, alleging “material breaches” from the Ministry of Mines and Hydrocarbons.
RoyalGate Energy has informed Equatorial Guinea that it intends to begin arbitration over Block Z, alleging “material breaches” from the Ministry of Mines and Hydrocarbons.
Tower Resources is nearing the point where it will begin drilling in Cameroon, but the company has other opportunities it is also pursuing, chairman and CEO Jeremy Asher has highlighted.
Chedid and Salibi are due to appear in Westminster Magistrates’ Court on February 19, 2024 to hear the charges.
Gabon Oil Co. (GOC) has sealed the acquisition of Assala Energy, with Maurel et Prom acknowledging defeat.
Eni has reported success at the Cronos-2 well offshore Cyprus, noting “excellent gas deliverability capacity” at the find.
“Two or three years ago all you would hear about [from policymakers] was decarbonisation. Now, I think there’s much more balanced conversation around security of supply, affordability and decarbonisation,” Hill said.
"Building on our long-standing strategic partnership with BP, Adnoc looks forward to continue exploring other opportunities as we collectively seek to decarbonise our operations and lead a just and equitable energy transition.”
"The BOP has been checked and tested by the OEM representative on board the rig and declared safe and ready for operations. Island Drilling is evaluating all legal recourse at its disposal to contest the termination."
London-listed Capricorn noted that if first oil occurs before June 30, 2024, Woodside would owe it $25 million - or $50 million.
Should the purchase move ahead, Jadestone said, it would qualify as a reverse takeover. This would trigger a suspension of Jadestone shares on AIM.
Galp raised the possibility of farming down its stake and bringing in a partner. It currently has an 80% equity position.
The Naga 7 rig capsized in 2021.
The move raised questions about Saudi Arabia’s view on future demand as the world shifts toward low-carbon energy, and was also seen as a concession there’s adequate oil supply from competitors including US shale producers.
There were more near field exploration targets planned for 2024. These, it said, would support further expansion at the project. Valeura has raised the possibility of a Nong Yao D platform to follow Nong Yao C.
The Norwegian company will begin project management and engineering “immediately” at its offices in Bergen and Aberdeen.
“What we’re finding now are new businesses and new opportunities are saying ‘if you can do these hydrogen plans, we will come and locate to the region’. That’s a new dynamic we didn’t have a year ago.”
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”
The partners have decided to defer the drilling programme offshore Equatorial Guinea, until they can find another rig and drilling contractor.
The Leipzig-based company, controlled by EnBW Baden-Wuerttemberg AG, is the first German gas trader to reach such an agreement with the North African country, said the people who asked not to be named as the business is private.
“We will continue to drill … because everybody is excited. We have another exploration potential well on the south of Venus and we continue to appraise what has been discovered.”
The Equinor CEO said he had regular discussions with turbine makers on improving costs. “I’m sure that in time offshore wind will be back with lowering the levelised cost of energy.”
The local content regulations give "line of sight for the next five to 10 years. There’s another six or seven projects that I can see coming, which allows me to double down with investments into hiring and expansion.”
“Currently, this approach is more attractive than issuing equity to fund our 2024 development activities and working capital needs,” Simões added.
“Another chapter starts now with its own challenges. We will never stop to rest on our laurels and we regularly need to reinvent ourselves by injecting new energy.”
“The sentiment for oil and gas stocks is on the very low side, at least in European markets,” Nordin continued. “There is a clear misalignment in valuations”, he continued, when contrasting market cap with how Tethys is valued within the industry.