“In September we’ll have the results of the first test, which is very important. Productivity per well is important, if it’s 15,000 barrels per day it’s fine, if it’s five, it’s not fine.”
Namcor was on the hook for $10 million. However, when the time came to pay up, it became apparent that Sequa had no funds and Petrolog only $6mn.
Namibia has recently gained significant attention as a result of the offshore discoveries by TotalEnergies and Shell in 2022. Namibia seems on its way to becoming a major oil and gas producer.
ReconAfrica said the ECC would allow it to drill exploration and appraisal wells in the Kavango Basin, from this month until July 2026.
Latham said the industry admired “operators who can not only open new frontiers, but also find large volumes of advantaged resources. TotalEnergies recent efforts and discoveries have been excellent examples of both trends.”
For Hyphen, the opportunity is in Europe and Asia, specifically Japan and South Korea. These markets have set targets to shift to hydrogen, but have limited domestic capacity to produce their own supplies.
Hyphen CEO Raffinetti said the company aimed to provide a “first supply of ammonia from our project into Europe by early 2028”. It aims to reach 2mn tpy of ammonia by 2029.
Mantashe made it clear that he blamed foreign-funded NGOs for the slow process of development. “They block development in our country”.
“From a market perspective, there’s a lot more interest in buying barrels at the right price, but there’s still appetite for exploration, particularly in sub-Saharan Africa.”
The Hercules is undergoing a special survey in Norway ahead of mobilisation to Canada. After Canada, it will re-cross the ocean and head to Namibia.
Total spudded the Venus-1A well on March 4. It will also re-enter the original discovery and test both wells.
Nigeria’s emissions are 16 kg of CO2 per barrel and Angola’s 17 kg, while on the shelf they rise to an average of 33 kg.
The opposition party, the Popular Democratic Movement, called for the government to suspend Mulunga last week. The party also said it would seek a parliamentary investigation “into what appears to be mafia-style corporate governance at Namcor”.
Comalie seems to have asked Mulunga to discipline Willemse, who was involved in the plan to tap the fuel, stored at Walvis Bay. “He may have thought this was a loan, but it is really theft”, Comalie told Mulunga, according to New Era.
“The cost of getting things done is astronomically higher for oil and gas than for the greener projects,” he said. “In the longer term it’s bullish for prices, as not enough investment is going into the areas where it should be.”
The Deepsea Bollsta rig carried out the Jonker work. Shell said the semi-submersible would remain on PEL 39 to drill further exploration and appraisal wells.
The company expects seismic results in mid-2023, Rushworth said.
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.”
The French supermajor said it expected to pay $400 million under the UK Energy Profits Levy (EPL) in the fourth quarter, bringing the full-year impact of the windfall tax to an expected $1bn.
Hyphen has set out a plan to produce 1 million tpy of green ammonia by 2027. It then aims to scale up output to 2mn tpy by 2029.
Shell spudded the Jonker well in December. “I’m not saying anything apart from to say it is going well, it is going very well,” Shino said to applause.
Explorers are “taking a measured view and holding budgets and activity steady whilst trying to improve overall exploration efficiency”, Westwood said.
ReconAfrica said that it would wait for results from the geophysical data before drilling the well. It will now begin drilling in late February next year.
Northern Ocean owns the Deepsea Mira, which is currently warm stacked in Norway. The company also owns the Deepsea Bollsta, which began drilling a well for Shell this week.
Northern Ocean has delivered a semisubmersible drilling rig to Shell Upstream Namibia.