Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
Middle East and African banks face mounting pressure from the gathering macroeconomic storm and oil price pressure, Fitch Ratings has said.
Nigeria and Angola face particular pressures as a result of the oil price crash, a new report from Verisk Maplecroft has warned.
Nigeria is moving towards production cuts as a result of a lack of local storage and inability to sell cargoes.
Piracy increased in the first quarter of 2020, with the Gulf of Guinea continuing to hold its position as the most dangerous waters in the world.
“Baselines matter” is one takeaway from the deal brokered over the weekend to save the market.
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.
PGS has completed the acquisition of 3D seismic on Angola’s Kwanza shelf, which will be used in the country’s 2021 licence round.
Maurel et Prom intends to hold its production roughly stable in 2020 as the company focuses on riding out the current storm.
Weak demand will drive production shut ins this quarter, IHS Markit’s vice president Aaron Brady told Energy Voice, as storage options are limited.
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
Construction and installation of subsea structures can be challenging in countries with limited local capacity, and Aquaterra Energy aims to fill a niche with its conductor supported platform (CSP).
BP’s Angolan production continued to decline in 2019, extending the trend of the last few years.
The Valaris DS-8’s blowout preventer (BOP) dropped to the seabed on March 7 and the company is now trying to retrieve it.
French oilfield services firm TechnipFMC has announced a multi-million pound deal with BP in Angola.
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
Further success at Angola’s Agogo field by Eni has seen the estimated oil in place figure rise to 1 billion barrels.
US Secretary of State Mike Pompeo has wrapped up a trip to three African states this week, where he noted the importance of deepening trade ties and the struggle against corruption.
Galp will focus on major upstream projects, company executives said today, but these must be able to compete in a world where demand may be constrained.
The reduction in Chinese oil demand as a result of the coronavirus has taken its toll on African exports.
Oceaneering will provide riserless light well intervention (RLWI) work to BP offshore Angola, in Blocks 18 and 31.
Maurel et Prom’s income increased in 2019 as a result of increased production, while the sales price fell marginally.
The Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has signed two deals with BP, on the sidelines of the UK-Africa Investment Summit in London.
The disclosure of a cache of company information has brought further scrutiny to Isabel dos Santos, who is already under investigation in Angola.
Eni’s Agogo field has begun producing, a statement from Angola’s Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has said.