United abandons Egypt well, moves rig to ASH field
Kuwait Energy Egypt will plug and abandon the most recent well on Egypt’s Abu Sennan licence, United Oil & Gas has said.
Kuwait Energy Egypt will plug and abandon the most recent well on Egypt’s Abu Sennan licence, United Oil & Gas has said.
“We’re not interested in a regulated asset model, not at a fixed 5% return,” he continued. Investors have to be able to cover failures through higher returns on their successes. “We’re looking at returns into the teens on returns.”
Zenith said there were near-term growth opportunities. This would involve infill drilling and sidetracks for six new wells, boosting output to 15,000 bpd.
Invictus may choose to drill Mukuyu-2 this year or the Baobab-1 well. The company has not yet committed.
Eskom, on December 23, reported its gross debt had reached 396.8 billion rand ($23.4bn) for the year to March 2022.
Borr Drilling has signed contracts for two of its jack-up rigs, in the Middle East and Southeast Asia.
The company believes that optimisation of the drilling, informed by experience from the MOU-1 well, will keep costs around the same level.
The US Coast Guard suspended its search for four passengers on a downed helicopter on December 29.
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
“Unless these are addressed, some companies will face an up-to 50% cut in their reserves-based lending capacity as facilities are reviewed over time by banks.”
In 2020, DNO took a £69 million charge on the value of Brasse, even while maintaining that the field was still commercial.
“The driver kept shouting at people to leave the scene and even tried to physically move the gathering crowds out of the way,” ISS said.
"The signing of these agreements confirms our company's desire to strengthen its partnership with the Gabonese republic and to pursue the development of its activities in Gabon,” said Henri-Max Ndong-Nzue, the head of the Gabonese unit.
Genel is planning to drill a well on the SL10B13 block, in which it has a 51% stake and is the operator.
Excelerate Energy has delivered an FSRU to Finland, loaded with a commissioning cargo.
Minister El-Molla said Egypt had doubled its efforts to attract new investments in the hydrocarbon sector in 2022.
Turkey’s TPAO has added another 58 billion cubic metres of gas to its holdings with a discovery at the Caycuma-1 well.
AD Ports Group has agreed to launch a joint venture with Kazakhstan’s national oil company to provide shipping services in the Caspian Sea.
Japanese companies have struck a number of LNG deals, as the government pushes to lock in future energy supplies.
The continent’s two biggest oil producing nations have made recent reforms to their upstream regulatory regimes, which were been long awaited and the changes largely well received.
ReconAfrica said that it would wait for results from the geophysical data before drilling the well. It will now begin drilling in late February next year.
Wison Heavy Industries has won work to develop a floating LNG (FLNG) project for Eni off Congo Brazzaville.
However, QPD launched its work in the late 1990s and began producing in March 2006. The fields have now produced 33.5 million barrels of oil.
Nigeria has announce a mini bid round focused on the deepwater, saying this would be the first of a number of such offerings.
“Backed by MSC Group’s financial strength and operational expertise, Bolloré Africa Logistics will be able to meet all its commitments to governments, particularly regarding port concessions,” MSC said.