Perenco has signed a deal to buy the Etinde stake held by New Age (African Global Energy) for an undisclosed amount, junior partner in the project Bowleven has said.
Bowleven has warned that the final investment decision (FID) for Etinde is expected in late 2022 but that it will need to raise financing.
New Age (African Global Energy) expects to bring on its Etinde gas project, in Cameroon, and Marine III, off Congo Brazzaville, in 2024.
A final investment decision for the Etinde project in Cameroon has slipped once more, with Bowleven now tipping 2022.
Vantage Drilling has declared force majeure for two of its rigs, one of which as a result of a coronavirus outbreak.
TechnipFMC has won lead front-end engineering design (FEED) work on the development of the IM gas condensate field, offshore Cameroon, Bowleven has reported.
Partners in Cameroon’s Etinde project have signed a non-binding letter of intent (LoI) to supply gas to Victoria Oil & Gas, which is facing a tough time with some of its onshore operations.
North Sea exploration firm Cluff Natural Resources has appointed a Robert Gordon University (RGU) graduate as chief financial officer (CFO).
Bowleven has taken an impairment charge of $62 million on its Etinde asset in Cameroon as plans have slipped.
International Trade Secretary Liam Fox has hailed a string of deals by UK companies with countries around the world, including a natural gas project worth more than £1.5 billion in Cameroon.
New Age has separated the roles of chairman and chief executive in a top-order shake-up.
Gas Plus Khalakan (GPK) said today it is making progress developing its assets in Kurdistan.
New Age has secured a $425million loan to fund its exploration strategy in Africa and the Middle East.