โWe have a very strategic position in the basin,โ Eco CEO Gil Holzman said this week. โBlock 3B/4B is exactly on trend with Graff and Venusโ, Shell and Totalโs finds respectively.
The Prempeh letter was reported as saying that the offer to PetroSA was โscandalousโ and that GNPC chairman Freddie Blay should โcease and desist immediatelyโ from such offers. Blay had โtotally ignored the wider interestsโ of Ghana, the minister said.
Azule signed the main contracts for the Agogo project on Block 15/06 in February. It awarded riser and flowline supply to TechnipFMC, while Subsea 7 won transportation and installation work.
โThe claimantsโ lawyers spent five years and eight hearings to pursue this matter, disregarding the courtโs time and costs. With no further right of appeal, this judgment brings an end to the claims here in England," a Shell representative said.
The licence extension was a condition for Afentraโs deal with Sonangol. The company agreed in April 2022 to pay $80mn for a 20% stake in Block 3/05. At the time, Afentra said it expected the deal to complete in the third quarter of 2022.
โThe first well in the main field is starting up shortly. The build up to 110,000 bpd is clearly laid out and the activity set is on plan. The well rates are consistent โ and slightly ahead of pre-drill estimates.โ
The alliance will provide engineering, transport and installation of approximately six km of flexible pipes, umbilical and associated subsea structures. The company will carry out the work in water depths of around 800 metres.
US-listed Cobalt International Energy initially explored the blocks. Total bought into the assets in 2019 from Sonangol, following Cobaltโs bankruptcy.
Frankโs was private until August 2013. It continued to pay bribes after going public, the SEC said. While public, the company won another five contracts while using its sales agent.
PIAC reported that total petroleum revenues to the government reached $1.43 billion in 2022, the highest on record. However, production declined to 51.76 million barrels in the year, around 142,000 barrels per day, down 6% from 2021.
A senior Nigerian minister urged the countryโs president to end a long-running dispute with Eni and Shell to allow the companies to finally develop a prized deepwater oil licence.
Amoah said the company had faced โsignificant challengesโ at its project. โWe have shown once again our resilience and unflinching commitment to the project."
As of January 1, 2024, LNG produced from the Alba field โwill be sold into the global LNG market, which is expected to drive a significant financial uplift for our company given the material arbitrage between Henry Hub and global LNG pricingโ.
Africa will โdominateโ new floating LNG (FLNG) projects in the period to 2027, adding 10.2 million tonnes per year of capacity, according to a note from Westwood Global Energy Group.
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.
Cheiron said the find demonstrated the Gulf of Suezโs remaining exploration potential, despite being relatively mature. The GNN field was the first discovery in the Nukhul formation, it said.
Aoun said Saiedโs 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.