Kosmos looks for inflection, but TEN a drag
“With higher production and lower capital, free cash flow is expected to rise into 2024 providing multiple pathways for the company to deliver value for our shareholders.”
equatorial guinea
Panoro and partners add another EG block
Past drilling on the block has suggested there is potential, with an “extensive prospect inventory” within tie-back distance to Ceiba and the Okume complex.
Africa Oil marks new country entry with eye on infrastructure
Africa Oil said the block contains a number of gas-prone prospects in water depths of less than 80 metres. Crucially, it is close to existing infrastructure, including the Alba gas field and the Punta Europa LNG plant.
Gepetrol head takes over ministry, with Obiang Lima out
OPEC appointed Obiang Lima president for 2023. He is also the head of the Gas Exporting Countries Forum (GECF). For now, he continues to hold both those positions.
Gabon, then Equatorial Guinea, to drive Panoro growth in 2023
“Panoro is entering a phase of continual drilling activity which will see at least 10 wells being drilled in Gabon and Equatorial Guinea over the next 12 to 15 months and deliver a step-change in working interest production,” said company CEO John Hamilton.
Equatorial Guinea sets out Zafiro, gas hub plans
“Production is not at the level we would like. We intend to own the asset and we need a new plan of development, which will take different things into consideration,” he said. Many wells need to undergo workovers, he said, in order to make it fit for the long term.
Zafiro due to restart in February
“Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems.”
Equatorial Guinea, Congo team up on refinery plan
Equatorial Guinea and Congo Kinshasa have signed an agreement to work together, including in the construction of a joint-owned refinery and a controversial licence round.
Exxon to decommission Zafiro, eyeing licence expiry
ExxonMobil is “working towards” decommissioning its Zafiro Producer unit, offshore Equatorial Guinea.
Arrested tanker crew face malaria, typhoid amid Nigeria transfer plans
Equatorial Guinea has said it will send the Heroic Idun VLCC, and crew, to Nigeria, where they may stand trial for charges related to potential oil theft.
Court orders Glencore to pay penalty in bribe-by-jet case
A London court has ordered commodity trader Glencore to pay £280.97 million in penalties as a result of its bribe paying.
Vaalco CEO aims for growth, mulls shareholder options
Vaalco Energy has completed the installation of new floating infrastructure off Gabon, shortly after completing its merger with TransGlobe Energy.
Atlas cries foul at Vaalco’s Venus plan
Nigeria’s Atlas Petroleum International has objected to Vaalco Energy’s announced plans to develop the Venus field, in Equatorial Guinea.
Equatorial Guinea approves Vaalco’s Venus plan
Equatorial Guinea has approved the Venus plan of development hatched by Vaalco Energy, targeting first oil in 2026.
“Lower risk, higher potential” in Vaalco tie up for TransGlobe
In this day and age, there is no space for a small cap oil company, according to TransGlobe Energy CEO and president Randy Neely, making the case for a tie up with Vaalco Energy.
Zafiro halts production as water enters FPU
Zafiro has halted production after water entered the floating production unit (FPU), with the operator evacuating non-essential workers.
Trident signs up Island Innovator rig for Equatorial Guinea
Trident Energy has signed up a rig from Island Drilling for work offshore Equatorial Guinea.
African ministers talk up long-term gas plans at Senegal event
African ministers have put the case forward for gas, both as an export commodity and a domestic enabler, with an eye on the upcoming COP27.
Iraq echoes Saudi concerns on oil market volatility, warns of OPEC action
Iraq’s SOMO has endorsed Saudi Arabia’s take on the oil market’s situation, expressing concerns around “false signals” for the market.
Equatorial Guinea signs up foreign support for refinery construction
Two Chinese companies have signed a framework agreement to build a modular refinery in Equatorial Guinea.
Supertanker seized after fleeing Nigerian navy
Equatorial Guinea’s navy has arrested a VLCC that had fled from Nigeria, after an alleged attempted loading at the Akpo field.
Opportunity in Africa’s LNG, if Europe gets serious on supply
Africa could build 120 million tonnes per year of LNG capacity, the International Gas Union (IGU) has said, but development remains slow.
Petrojet, Taqa sign deals on Equatorial Guinea work
Egyptian companies have struck deals to carry out work in Equatorial Guinea, according to recent high-level talks.
Glencore cops to global bribery scheme, to pay $1bn penalty
Glencore has agreed to pay penalties of $1.06 billion to US and Brazilian authorities. More is to come in a UK settlement with the Serious Fraud Office (SFO).
Vaalco balances caution with expansion in formative year
Vaalco Energy will focus on delivering its expansion projects this year, while avoiding any threats to production, CEO George Maxwell has said.