Cairn Energy will return £188 million to shareholders following completion of the sale of its Senegalese assets to Woodside.
Modec has ordered six compressor trains from MAN Energy Solutions for the Sangomar field, offshore Senegal.
As with the global industry, African exploration and production plans hit the COVID-19 and oil price-crash roadblock.
Woodside Energy has opted to pre-empt the sale of FAR’s stake in a licence offshore Senegal, which will increase the buyer’s stake to 82% in the Sangomar field.
On this week’s episode, in association with Fasken, the team looks at the return of RockRose Energy founder Andrew Austin to the North Sea fold, after he sold up his former firm for nearly £250m earlier this year.
Australia’s FAR Ltd has struck a deal to sell its Senegal interests to India’s ONGC for $45 million plus some costs.
Kosmos Energy has dropped plans to sell down its stake in an LNG project offshore Mauritania and Senegal, instead opting to seek financing for its plans.
Shell is entering Impact Oil and Gas’ Transkei and Algoa exploration right offshore South Africa, shortly after the exit of ExxonMobil and Equinor.
Golar LNG has reached a new project schedule for the Greater Tortue Ahmeyim project, a floating LNG (FLNG) plan offshore Mauritania and Senegal.
Cairn Energy’s boss said today that the company was “in control of its own destiny” and would aim to capitalise on opportunities to beef up its portfolio, including in the North Sea.
Cairn Energy has abandoned plans to sell its stake offshore Senegal to Lukoil, abiding by Woodside Energy’s pre-emption.
Australia’s FAR did not exercise its right to pre-empt the sale of Cairn Energy’s stake in the Sangomar field, as the company works to find a buyer for its own interest.
Australian firm Woodside has moved to whisk the purchase of Cairn Energy’s 40% stake in the Sangomar project off Senegal out from under the nose of Russian firm Lukoil.
Kosmos Energy reported a net loss of $199 million for the second quarter of the year, with an adjusted net loss of $95mn.
Despite challenges thrown up by the coronavirus outbreak, BP’s production in Africa was largely unchanged, although exploration and development has been pushed back.
Russia’s independent Lukoil has struck a deal to pay $300 million to Cairn Energy for a 40% stake in a licence offshore Senegal.
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
The coronavirus pandemic has taken its toll on the world, with lives lost and economies shrinking.
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Australia’s FAR is in default for its payments due on the Sangomar field, following recent talk of delays in Senegal’s upstream plans.
Oryx Petroleum has cut operating expenses by 21% and is focused on slimmed down operations in Kurdistan for the near future.
New liquefaction projects are unlikely for the time being, Golar LNG has said, but in the longer run its floating LNG (FLNG) technology is an attractive option for exporting gas.
Australia’s FAR has been unable to secure financing for its stake in the Sangomar field development and so has begun a process to sell all, or a part, of its stake in the Senegalese project.
TGS has begun a 3D seismic survey offshore The Gambia, under its Gambito 2020 programme.
Kosmos Energy has cut spending for a second time in a month and confirmed delays at the Tortue LNG project, where it works with BP.