Invictus raises cash for seismic and drilling in Zimbabwe
Invictus Energy has raised A$10 million to fund the next stages of its work in Zimbabwe’s Cabora Bassa Basin.
Invictus Energy has raised A$10 million to fund the next stages of its work in Zimbabwe’s Cabora Bassa Basin.
The BW Adolo FPSO will process oil from this development phase alongside the Tortue production. Tankers will offload oil from the FPSO for export.
QE struck a deal with ExxonMobil Canada on March 29 to access to more exploration, with drilling imminent.
At the same time that Savannah was announcing the cancellation of its deal to buy the Petronas assets in Chad, it set out an even more ambitious plan with the Malaysian company.
In August 2021, it managed to reach a deal where it would help loan money to Whitmore Asset Management, linked to its CEO Tinubu, to pay out $550mn to Gabriele Volpi’s Ansbury Investments. Oando borrowed the cash from Afreximbank and advanced this to Whitmore.
As the gas market grew, Africa Energies said the development of the Paddavissie Fairway would expand. The company believes there is more to be found in the region, based on 2D and 3D seismic.
NNPC is also carrying out exploration in the Chad Basin, Dahomey Basin, Anambra, Calabar Embankment, Sokoto Basin, Bida Basin and the ultra-deepwater of the Niger Delta.
Comalie seems to have asked Mulunga to discipline Willemse, who was involved in the plan to tap the fuel, stored at Walvis Bay. “He may have thought this was a loan, but it is really theft”, Comalie told Mulunga, according to New Era.
Cheiron said the find demonstrated the Gulf of Suez’s remaining exploration potential, despite being relatively mature. The GNN field was the first discovery in the Nukhul formation, it said.
The move by Chad came despite the fact that Savannah had reversed production decline, the company said. Production reached 29,349 barrels per day since December 9, it said, up by 9%.
However, in legal papers filed at the Federal High Court in Abuja it has accused the former chairman of making an offer worth $300 million to the Minister of State for Petroleum Resources. The alleged letter was dated December 22, 2022.
“The business is now determined to add new revenue streams that build a stronger business”, said CEO Paul Weir.
Aoun said Saied’s comments might refer to the continental shelf, rather than the Bouri field. Tunisia and Libya have established the Joint Oil company to work in this area, although this has not made any progress in recent years.
Once the Blackford Dolphin completes its work for General Hydrocarbons, it will stay in Nigeria for work with Peak Petroleum, at a higher day rate.
Eco Atlantic has begun the regulatory process of applying for an exploration well offshore South Africa in the Orange Basin.
ExxonMobil has issued a call for companies to build an onshore LNG plant in Mozambique, amid signs of new confidence in the conflict afflicted north.
“Given the state owned, monopolistic nature of CTF the company was deprived of normal contractual remedies and was forced to wait until a suitable rig became available,” he continued.
Gas volumes will also grow, he said. It is currently producing 1.5 billion cubic metres per year and this will grow to 5.5 bcm “at the next development stage" Tass reported the manager as saying.
It intends to broker deals with service companies, where they provide work in exchange for a service fee recoverable from production.
The statement said countries in need “will not prosper without domestic players who are willing to solve their unique challenges”.
ExxonMobil could invest $15 billion through 2030 if it makes commercial oil discoveries in the Namibe Basin, Paulino Jeronimo, chairman for the Angola National Agency for Petroleum, Gas and Biofuels, said in Luanda.
De Bruyn said iMbokodo had been set up with an eye on the draft bill and that the company was “compliant with government expectations”.
This year, the company aims to focus its spending in Gabon. It will spend $100mn on development, of which $85mn will be in Gabon.
“My sense of Mozambique’s natural gas assets is that it can play an important role for the global transition,” she said.
The court based its order on allegations around various actions taken by Brown. He organised a site visit for shareholders, cancelled some landscape and catering contracts and introduced a new job performance rating.