FEED work “could facilitate” a final investment decision (FID) on Preowei, Africa Oil, said.
Impact Oil and Gas
Total spudded the Venus-1A well on March 4. It will also re-enter the original discovery and test both wells.
The plan, he said, would not be “to appraise everything”. Instead, the partners in the block would “accelerate the time to market … if we have the chance to really confirm the volumes which seems to have been discovered, there will be room to make fast track developments, like we did on Block 17, 25 years ago.”
Shell has been granted leave to take its legal fight to secure acreage offshore South Africa to the Supreme Court of Appeal.
Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.
Impact Oil & Gas has set out an open offer to raise up to $60 million in order to finance its participation in Namibia’s Venus discovery.
A small group of deep-pocketed companies increasingly dominates exploration and, as yet, they are avoiding the boom-and-bust mentality of previous oil cycles.
Shell is having its day in court in South Africa in the matter of its offshore seismic plans, while facing an onslaught of environmental protests.
TotalEnergies is in the process of securing a rig to drill up to nine development wells, and two exploration/appraisal wells on Nigeria’s OML 130, Africa Oil has said.
TotalEnergies has made a “significant” discovery at the Venus 1-X well, offshore Namibia.
Shell and Namcor have announced a light oil discovery at the Graff-1, offshore Namibia.
Concerns about the impact of seismic surveys on local marine wildlife are “poppycock”, one of the companies involved has said.
The Amazon Warrior has left South Africa and is heading towards Las Palmas, in what is seen as a victory for local protests over Shell’s seismic plans.
A South African court has ordered Shell to halt its seismic work offshore the Wild Coast, based on seeming failures on local consultations.
TotalEnergies has spudded the Venus-1X exploration well offshore Namibia, in Block 2913B.
A seismic vessel arriving in Cape Town has sparked the ire of environmental activists ahead of planned work off South Africa’s Wild Coast.
Opposition is building against Shell’s plan for a 3D seismic survey of South Africa’s southeast coast.
Exploration companies big and small are warming up for a busy next 12 months – although some have warned this may be the last such push in the energy industry.
Shell has completed a deal to enter the Transkei & Algoa exploration right, offshore South Africa, with Impact Oil & Gas.
Shell’s Nigerian production fell to 223,000 barrels of oil equivalent per day in 2020, with the company blaming security issues, sabotage and theft.
Shell is entering Impact Oil and Gas’ Transkei and Algoa exploration right offshore South Africa, shortly after the exit of ExxonMobil and Equinor.
Impact Oil and Gas has farmed in to Area 2, offshore South Africa, under a deal with Silver Wave Energy.
South Africa has approved Impact Oil and Gas to take over the Transkei and Algoa exploration right, and Tugela South exploration right, offshore South Africa.
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
Africa Oil paid down $45.2 million of its debt during the first quarter, after receiving $87.5mn from its stake in three major Nigerian oilfields.