A final investment decision for the Etinde project in Cameroon has slipped once more, with Bowleven now tipping 2022.
Australia’s Santos has awarded the biggest contract tied to its $3.6 billion Barossa liquefied natural gas (LNG) project in northern Australia that will backfill Darwin LNG. This offers a strong signal that a final approval for the scheme is imminent.
Oil Search will start a 15% selldown process for its proposed 80,000 barrels of oil per day Pikka low emissions oil project in Alaska by April. Phase 1 of Pikka is expected to cost about $3 billion and produce oil at a break-even cost of supply less than $40 per barrel Brent, inclusive of a 10% return, reckons the Australian-based company.
The delayed Total-led liquefied natural gas (LNG) export development in Papua New Guinea (PNG) has signed a key fiscal stability agreement with the government. This marks a significant step in de-risking the proposed 5.33 million tonne per year Papua LNG scheme.
Nigeria LNG (NLNG) has taken the final investment decision (FID) on Train 7, the long-awaited expansion project that will take the project’s capacity to 30 million tonnes per year.
Delfin Midstream is moving ahead with front-end engineering and design (FEED) work on its Delfin LNG scheme.
Vitol and Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos (ENH) have set out plans for a trading-focused joint venture.
BW Energy is planning to reach a final investment decision (FID) on its Ruche development, in Gabon’s Dussafu licence, in the last quarter of the year. Further growth is expected to come from August’s Hibiscus discovery. The company continues to hold the Kudu gas project, in Namibia, but like many others before it, progress appears slow.
Australia’s Western Gas is seeking partners to bring its Equus LNG project into production by 2024. The company has a plan for gas from the offshore Equus fields to be transported, via a 160 km pipeline, to a floating LNG (FLNG) facility near the shore.
Total will lead the way with exploration drilling this year, according to analysis from Westwood Global.
Energy giant Shell has hinted at another North Sea project being sanctioned in the coming weeks.
Shell revealed today that it had taken a final investment decision (FID) on the redevelopment of the Penguins area in the UK North Sea.
Research firm Rystad Energy has found that more delayed projects have been sanctioned so far in 2017 than during the entirety of 2016 – but the overall list has continued to grow.
BP said final approval has been given for the development of the Tangguh Expansion Project in Indonesia creating up to 10,000 new jobs.