Taking power to the seas with Karpowership
Countries that need power, need power now – and Karadeniz’s Powerships may just be the fastest moving answer to this particular demand.
Ghana
Ghana seeks new power balance
Ghana has made considerable progress in distributing power to its citizens, but talks are under way in order to make this process more sustainable.
Aker Energy rethinks Pecan for a lower cost
Aker Energy has reiterated its commitment to Ghana’s Pecan field, although not going so far as to commit to timing on a final investment decision (FID).
African rig count plummets, while Middle East holds up
Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
Total ditches Ghana purchase
Total has scrapped plans to buy assets that had belonged to Anadarko Petroleum in Ghana.
Eni, Springfield face compulsory unitisation
Ghana’s Ministry of Energy has called for Eni and Springfield Exploration and Production to begin a process of unitisation covering the companies’ Sankofa and Afina finds.
Oxy scraps Algerian sale to Total
Occidental Petroleum will continue to hold its Algerian assets following its inability to conclude the sale of them to Total.
Troubled Tullow appoints new CEO
Tullow Oil has appointed Rahul Dhir to serve as its new CEO and an executive director, with Dorothy Thompson returning to her role as non-executive chair.
“Holy rain” bribes secured Ghana work, SEC alleges
The US Securities and Exchange Commission (SEC) has charged a former Goldman Sachs official with paying bribes in Ghana in order to win work on the construction of a power plant, for a Turkish company.
Tullow cuts capex further, secures RBL
Tullow Oil has secured its reserve-based lending (RBL) facility at $1.9 billion, giving it around $700 million of liquidity, while slashing its spending this year further from plans announced just two weeks ago.
Aker Energy postpones Pecan, cuts team
Aker Energy has opted to halt development work offshore Ghana in response to the coronavirus pandemic, terminating a contract for a floating production, storage and offloading (FPSO) vessel with Malaysia’s Yinson Holdings.
Pandemic postpones Africa E&P
The Africa E&P Summit, which had been due to be held on May 20-21, has been pushed back to October 21-22.
Total, Chevron terminate Valaris rigs off Angola
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
Subsea 7 worker trapped in Ghana due to Covid-19 left in ‘dangerous situation’
An offshore worker trapped in Ghana has accused bosses of placing him in a “dangerous situation” and not acting quickly enough to get him home to his disabled son.
As pressure mounts, Tullow launches sale plans
Tullow Oil has slashed spending in 2020 and set out major disposal plans in an attempt to weather the storm.
Kosmos to pay out dividend, plans energy transition shift
Kosmos Energy has reported a net loss of $36 million for the fourth quarter of 2019, although free cash flow reached $139mn for the period.
Yinson to supply FPSO to Aker Energy
Aker Energy has signed a letter of intent (LoI) on a floating production, storage and offloading (FPSO) with Yinson Holdings Berhad.
West African flows squeezed as China dials down demand
The reduction in Chinese oil demand as a result of the coronavirus has taken its toll on African exports.
Fugro signs on to crack Aker Energy’s Pecan
Fugro has won geotechnical and geophysical survey work on Aker Energy’s Pecan field, offshore Ghana.
Aker Energy appoints new Ghana country head
Aker Energy Ghana is replacing country director Jan Helge Skogen with Kadijah Amoah, effective as of February 1.
IOC signs on to support Ghana’s LPG push
Indian Oil Corp. (IOC) has signed a memorandum of understanding (MoU) with Ghana’s National Petroleum Authority (NPA) on the implementation of an LPG policy.
Tullow takes write down on lower for longer prices
Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.
Ghana on the rocks
Ghana has had a decidedly mixed couple of months, with a major offshore discovery offsetting problems at Tullow Oil and Aker Energy.
Springfield makes billion-barrel find off Ghana
Ghana’s Springfield Exploration and Production has found oil in two areas at its Afina-1 well on its West Cape Three Points (WCTP) Block 2, offshore Ghana.
Aker Energy CEO out
CEO Jan Arve Haugen of Ghana-focused Aker Energy has resigned, replaced in the interim by Svein Jakob Liknes, who was the company’s head of operations. Changes are also being made to the company’s board.