News » Nogtec

ExxonMobil awards FPSO contract to SBM Offshore

June 22, 2017 | Oilfield Services, Rigs & Vessels, South America

London, UK | – American multinational oil and gas corporation, ExxonMobil, has confirmed the award of contracts for the next phase of the Liza project in Guyana – including one for SBM Offshore. SBM Offshore will construct, install, lease and operate a FPSO vessel for the firm. The company’s chief executive Bruno Chabas welcomed the news, and put the award down to the company’s experience. He said: “We are proud that ExxonMobil awarded SBM Offshore the contracts for the Liza FPSO. The Liza Field offshore …

Nigeria’s NNPC repays N450 billion debt to federal government

June 22, 2017 | Company Operations, Economy, Government & Regulations

Abuja, Nigeria |  — The Nigerian National Petroleum Corporation, NNPC, said it has repaid its N450 billion indebtedness to the Federal Government according to Nigerian local newspaper , the Vanguard. The NNPC in its April 2017 Monthly Financial and Operations Report, released yesterday, said the last tranche of the sum was paid in March 2017, after paying N6.33 billion on a monthly basis over several months. To this end, the NNPC said it transferred N95.56 billion into the Federation Account during the month under review …

Mozambique, Shell sign MoU on Rovuma Basin natural gas for domestic use

June 22, 2017 | Government & Regulations, Mozambique

Maputo, Mozambique | – Mozambican Minister of Mineral Resources and Energy Leticia Klemens and the Vice President of Anglo-Dutch oil company Shell, Clare Harris, have signed a memorandum of understanding (MoU) on the allocation of natural gas from the Rovuma Basin, in northern Mozambique, for domestic use. The signing of the MoU follows the results of the public tender for awarding the gas for domestic use, which were published in January. Among the three winning bids was one from Shell-Mocambique, which requested between 310 and …

Indonesian firm to build crude oil refinery in Nigeria

June 22, 2017 | Downstream, Nigeria, Refining & Processing

Lagos, Nigeria | –  Indonesian engineering firm PT Intim Perkasa has expressed an interest in building a refinery in Nigeria, the West African country’s state oil company said on Wednesday. Nigeria has been seeking investment in the sector to reduce reliance on imported oil products that consume a large portion of the OPEC member’s scarce foreign currency reserves.  Its existing, ageing refineries produce hardly any fuel after years of neglect. A representative of PT Intim Perkasa Nigeria Ltd, a subsidiary of the Indonesian company, indicated …

Uganda to finalize oil exploration deal with Nigeria’s Oranto Petroleum

June 21, 2017 | Exploration / Discoveries, Licensing & Concessions, Uganda

London, UK | – Uganda is set to sign two oil production sharing agreements with a Nigerian oil firm, enabling the company to begin exploration work, the government said on June 14. The signing is expected on June 15. The firm, Oranto Petroleum International, was among a number of companies that bid in the country’s first competitive oil exploration licensing round last year, with two other Nigerian firms and Australia’s Armour Energy also getting through to final negotiations for the award of the PSAs. The …

Oil heads for third weekly loss as U.S., Nigeria prolong glut

June 12, 2017 | Commodities & Oilprice, Energy Trading & Markets, OPEC

New York, US | – Oil headed for a third weekly drop as rising supplies from the U.S. and Nigeria showed that OPEC is still struggling to clear a global oil surplus. Futures were little changed in New York Friday, returning to the sub-$50 levels traded when OPEC first agreed to output curbs in November. U.S data released Wednesday showed total crude and product stockpiles rose by the most since 2008 last week, surprising a market that had been expecting further declines. American output is also …

Wood Group wins Statoil concept and feasibility study contracts

June 12, 2017 | Company Operations, Contracts, North Sea & Western Europe

Aberdeen, UK | –  Wood Group has been awarded two new contracts by Statoil to deliver concept and feasibility studies to their Norwegian North Sea assets. Effective immediately, the company will deliver a topside concept study evaluating the tie in of Total’s Garantiana field development to Statoil’s Gullfaks B and Visund facilities. In addition, Wood Group will provide a feasibility study for Statoil’s Tampen oil pipeline, covering subsea pipelines and risers and topside modifications. The two contracts are awarded under an evergreen master services agreement …

Chad settles tax dispute with foreign oil firms

June 12, 2017 | Budget & Investment, Chad, Government & Regulations

N’Djamena, Chad | – The Republic of Chad one of the African economies hit hardest by the drop in oil prices, announced that it had reached an accord with a group of foreign energy companies ending a tax dispute. The deal, signed by the government and a consortium of energy companies led by Esso, a unit of US energy giant ExxonMobil, extends the group’s operating licence in the Doba basin until 2050. It also calls for the development of polymer injection technology to increase oil …