Saipem’s contract did not, though, cover reactivation costs for the rig. As a result, Deep Value Driller entered into a loan facility for $75 million, which will mature in three years.
Tullow Oil expects to begin drilling wells on Jubilee South East this quarter, with the aim of boosting production beyond 100,000 barrels per day in 2025.
Sahara Group and Nigerian National Petroleum Corp. (NNPC) have taken ownership of two LPG vessels in South Korea, with plans to reach 10 vessels in the next 10 years.
Foxtrot International and its partners in the CI-27 licence have reached a deal to invest in the area to keep gas flowing to power plants.
The Office of the Attorney General (OAG) of Switzerland has ordered Gunvor to pay almost 94 million Swiss francs ($94.7mn) for failing to prevent corruption in Congo Brazzaville and Cote d’Ivoire.