FEED work “could facilitate” a final investment decision (FID) on Preowei, Africa Oil, said.
“For me, it’s easier to develop offshore projects than onshore projects. Onshore there are stakeholders, who are more complex to manage.”
Total has two rigs working in Namibia, with the Tungsten Explorer and the Deepsea Mira. A recent update from Vantage Drilling reported Total had extended the contract on the Tungsten Explorer into the second quarter of 2024.
“Unless Namibia puts together a narrative to win the energy transition war, [the country’s] oil will remain in the ground.”
The Department of Mineral Resources (DMRE) accepted the scoping report on March 24.
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 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.
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.
Partners in Nigeria’s OML 127 and 130 continue to work on conversion to new terms – with success potentially triggering approval for the Preowei discovery.
Vaalco Energy has completed the installation of new floating infrastructure off Gabon, shortly after completing its merger with TransGlobe Energy.
Chevron has completed its farm in to a licence offshore Namibia, close to the Venus and Graff discoveries by TotalEnergies and Shell respectively.
TotalEnergies plans to continue pressing ahead with short-cycle projects in Angola but also add a new hub on the Cameia-Golfhino finds.
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.
Chevron is in discussions to enter Namibia’s offshore, Minister of Mines and Energy Tom Alweendo has said.
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.
Major deepwater discoveries will require major project developments to commercialise, with gas playing a crucial role, analysts from IHS Markit have said during a recent webinar, in association with the African Energy Chamber.
Exploration is back, emissaries of some of the world’s top oil companies have said, with Africa in a strong position to meet new demand.
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.
QatarEnergy (QE) has signed up to support Namcor, following two high-profile discoveries in the Southern African state.
TotalEnergies has made a “significant” discovery at the Venus 1-X well, offshore Namibia.
Eco Atlantic Oil & Gas has signed a definitive agreement to acquire Azinam Group, focused on the emerging areas off South Africa and Namibia.
Shell and Namcor have announced a light oil discovery at the Graff-1, offshore Namibia.