EACOP back on track with Chinese funding, minister says
The minister said the insurance issue was the last real barrier to EACOP. “The rest was politics”, she said.
The minister said the insurance issue was the last real barrier to EACOP. “The rest was politics”, she said.
Ademola went on to say projects such as the FSO allowed the company to meet growing demand from the company’s customers.
Savannah struck a deal to acquire Petronas’ South Sudan assets in December 2022. It had hoped to publish its AIM admission documents on the deal by September 30. Today, it has pushed that back to the fourth quarter of the year.
TotalEnergies has agreed the sale of a 40% stake in Block 20, in Angola's Kwanza Basin, to Petronas.
Total has two rigs working in Namibia, with the Tungsten Explorer and the Deepsea Mira. A recent update from Vantage Drilling reported Total had extended the contract on the Tungsten Explorer into the second quarter of 2024.
The EUG update put the hydrocarbon potential in the Western Desert at 132 million barrels of oil equivalent, from 28 leads. In the Gulf of Suez, this increases to 540mn barrels of resources from 27 leads.
“This new partnership in Block 3 empowers KUFPEC to boost its offshore assets and exploration activities in Egypt.”
Success at Mukuyu-2 could be transformational for Invictus, Zimbabwe and Southern Africa, he said.
It’s touted by some as possibly the world’s biggest-ever deep-water oil find.
“We’re confident we can complete by year end. We’ve been through it with the INA deal and hopefully we can be more efficient this time around,” he said.
Capricorn has warned it is watching the receivables closely. Its capital expenditure plans are “being monitored to match incoming receipts”, it said.
“Our business continues to be undervalued because of the perceived debt overhang,” CEO Dhir said.
“This triumph augments our confidence in other prospects across the nation,” he said. He singled out the potential of further investments in Tullow’s TEN project.
The report finds that coverage for the oil blocks would be “prohibitively expensive” for any winning companies. Congo lacks the capacity domestically to provide insurance.
NNPC “reserves its rights” over the breach. Failure to obtain approval allows NNPC E&P Ltd (NEPL) to “invalidate the purported assignment” to Oando.
“Unless Namibia puts together a narrative to win the energy transition war, [the country’s] oil will remain in the ground.”
Gas capacity expansion is still constrained by pipeline vandalism, especially domestically.
“This proves that we are indeed committed to getting the oil sector working, at all levels,” said Jerónimo.
These four OMLs attributed 24,000 barrels of oil equivalent per day to Eni net in 2022.
Under the agreement, the companies will drill one exploration well in the initial five-year exploration period.
The prosecutor has proposed three different amounts in the past five years, Orrön said.
Eni discovered Baleine in September 2021. It took the final investment decision around six months later.
The rigs will carry out drilling, completion, testing, temporary abandonment and workovers, in water depths from 600 to 1,800 metres.
Neptune started the offshore rig work for Yakoot in July. The company has said the well is targeting a structural trap with multiple reservoir targets.
There is scope to drill three more wells from the EPF, which would complete the current drilling programme.