For now, the companies are waiting for a development licence. Aminex confirmed to Energy Voice that this “unlocks activity pertaining to the development of the field". This includes drilling production wells or well workovers.
Galp is drilling the Mopane 2 well, but Bank of America has raised concerns over the implied valuation, amid fears of a Namibia bubble.
While the deal is immediately accretive to Vaalco, the FPSO on Baobab will go offline in early 2025 for maintenance and upgrades. It should be back in production in 2026.
McDermott International faces a claim for “maximum recoverable damages” linked to its failure to complete a contract for BP offshore Mauritania and Senegal.
Panoro Energy expects growth to continue this year, targeting 40% more production than 2023, despite problems around drilling in Equatorial Guinea.
Perenco has begun drilling an appraisal well in Gabon, close to its shallow water Hylia South West discovery from December 2022.
Preparations for the East African Crude Oil Pipeline (EACOP) have ground to a halt in Uganda following the termination of Tullow Oil’s farm-out talks.
Libya’s National Oil Corp. (NOC) reported income of $2.1 billion in July, up 23% on the previous month.
A $900 million (£740m) deal, under which Tullow Oil was to sell a major stake in its Ugandan projects to Total and CNOOC, has been scrapped as a result of wranglings with the government.
Africa’s largest oil producer could run out of money if it doesn’t boost revenues urgently.
Aberdeen-based Stena Drilling has won a contract to provide a drillship for a well campaign off Ghana.
A Nigerian high court ordered the government to renew Shell Petroleum Development Co.’s operating license for the Oil Mineral Lease 11 field, which was withdrawn earlier this year, Lagos-based Punch newspaper reported.
United Oil and Gas (UOG) plans to acquire Rockhopper Egypt for £12.8m with help from BP.
Seadrill has secured a nine-well contract with three options, each for two wells, for the West Gemini in West Africa. Total contract value for the firm portion of the contract is expected to be approximately $84 million with commencement expected in early Q4 2019 and running through Q4 2020.
Oil and gas activity is beginning to return to the Gulf of Mexico this week after Hurricane Barry swept through the region and up into Louisiana.
UK oilfield services firm Expro has been awarded a £16million contract to help decommission an offshore field for Malaysian operator Petronas.
Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over.
Aberdeenshire-headquartered Eland Oil & Gas has received approval from Nigeria's petroleum department for its Gbetiokun field development plan.
BP and its partners will pour further investment into a block off the coast of Angola as part of a pact that extends its production sharing agreement to 2032.
Energy giant BP has agreed to sell off its mature assets in Egypt’s Gulf of Suez for an undisclosed fee.
An investigation into a $10bn “scandal” involving BP’s purchase of stakes in gas licences off the coast of Senegal is being broadcast tonight.
A Scottish oil worker kidnapped by gunmen in the oil-rich Niger Delta region has been freed.
Royal Dutch Shell Plc is planning to acquire an oil-block stake in a second deal in South Africa’s relatively unexplored waters, months after a major discovery by Total SA boosted the country’s hydrocarbon prospects.
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the West African country’s government said in a London lawsuit that it believes a handful of executives, including CEOs, were tied to more than $1billion in bribery payments.
A major military operation has been launched to rescue a Scottish oil worker who was kidnapped by gunmen in the restive, oil-rich Niger Delta region.
A Scottish worker has been kidnapped from an oil rig in Nigeria, according to a news report.
A new report alleges that Shell and Eni benefited ‘at the expense’ of the Nigerian people in a generous military-style contact in 2011.
While Mozambique is presently recovering from the destruction caused by Cyclone Idai, it has the potential to produce close to 10% of the current global market or 6x the LNG production of Angola.
Algerian protesters have rejected the interim leader named to replace former president Abdelaziz Bouteflika, shouting "out with the system" as they called for the dismantling of the political hierarchy that has led Algeria for two decades.
An Aberdeenshire subsea excavation company has wrapped up its first project in Nigeria and established a base in the West African country.
Total has started production from the second floating production, storage and offloading (FPSO) unit for its Kaombo project off Angola.
