China’s CNOOC Ltd today said that the country’s “first offshore large-sized independent deep-water gas field” named Lingshui 17-2 has started production. The development, which CNOOC claims includes the world’s first 100,000 ton semi-submersible platform, underscores the advancement of China’s deep-water technical knowhow.
The Lake Albert development, including export pipeline, will cost $15 billion with contracts expected to be dished out following final investment decision (FID) on April 11.
Total should announce final investment decision (FID) for its Lake Albert project on April 11.
As a final investment decision (FID) looms on Uganda’s oil plans, opposition is targeting financial sources for the export pipeline.
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
Tullow Oil has completed the sale of its Ugandan assets to Total, receiving $500 million.
Tullow Oil has reached a binding tax agreement with Uganda, which should allow it to close a sale to Total shortly.
Nigerian National Petroleum Corp. (NNPC) has signed a heads of terms with Cnooc Ltd and South Atlantic Petroleum (Sapetro) to bring to an end a dispute on OML 130.
Uganda and Tanzania are pushing ahead with their plans for the East African Crude Oil Pipeline (EACOP) despite Total’s decision to put work on hold, following the breakdown of talks on the sale of Tullow Oil’s Ugandan stakes.