Upstream

Tanzania signs oil exploration deal with Uganda

October 13, 2017 | Contracts, Exploration / Discoveries, Tanzania, Uganda, Upstream

London, UK | – Tanzania has entered into an agreement with Uganda to help in the search for oil in the Eyasi Wembere Basin and Lake Tanganyika. The two countries already have a crude pipeline deal. This puts to doubt Tanzania’s previous agreement with Democratic Republic of Congo signed a year ago to work on a joint oil exploration in Lake Tanganyika. DR Congo has discovered oil in Lake Albert on its border with Uganda and it hopes to find oil in Lake Tanganyika. Experts …

Kenya awards firms licence to drill for natural gas

October 13, 2017 | Drilling / Completions, Kenya

London, UK | –  Zarara Oil & Gas Ltd will start drilling two wells of natural gas after Kenya’s National Environment Management Authority (Nema) approved environmental licences for well sinking on Pate Island off the coast in Lamu. This is in line with the government’s plan to expedite commercial gas production for power generation. The company has been set strict deadlines by the Ministry of Energy to start drilling Pate 2 by the end of the year and later Pate 3 as the government wants …

Tullow Oil awarded four licences in Côte d’Ivoire

October 13, 2017 | Company Operations, Côte d'Ivoire (Ivory Coast), Licensing & Concessions

London, UK | – British African-focused  multinational oil and gas exploration company, Tullow Oil Plc has announced that it has acquired 90% stakes in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10%. The four blocks – CI 518, CI519, CI301 and CI302 – cover 5,035 km2 and located on the coastline of Côte d’Ivoire mostly to the west of Abidjan. Tullow believes that this acreage will complement the Group’s existing exploration portfolio as the blocks are …

Transocean to buy Norwegian rig firm Songa Offshore for $1.1 billion

August 15, 2017 | Deepwater, Mergers, Acquisitions & JVs, Rigs & Vessels

London, UK | – Transocean Ltd, one of the world’s biggest drilling rig operators, has agreed to a deal to buy Norwegian competitor Songa Offshore SE for 9.1 billion Norwegian crowns (US$1.1 billion), the two companies said Aug. 15. The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean’s position in offshore drilling as Songa is Norwegian oil major Statoil ASA’s largest drilling service provider. The offer values Songa shares at 47.50 Norwegian crowns each, a 39.7% premium over …

Nigeria to continue Lake Chad Basin oil exploration despite deaths

August 03, 2017 | Civil Wars & Terrorism, Exploration / Discoveries, Nigeria

Abuja, Nigeria | – Nigerian scientists will continue to search for oil in the restive Lake Chad Basin region despite a kidnapping of some researchers by suspected Boko Haram members, a university and state oil firm NNPC said July 31. Members of an oil prospecting team were kidnapped in the northeast’s restive Lake Chad Basin region on July 25, prompting a rescue bid that left at least 37 dead including members of the team, rescuers from the military and vigilantes, officials say. Three kidnapped members …

Ambush on Nigeria oil team may hamper Buhari’s recovery plan

August 03, 2017 | Civil Wars & Terrorism, Exploration / Discoveries, Government & Regulations, Nigeria

Boko Haram Islamists’ attack shows ‘new level of boldness’ Government has vowed to continue oil exploration in northeast London, UK | – An attack by Islamist militants on an oil exploration team in Nigeria’s northeast has hurt the government’s ambition to find new crude reserves and quashed hopes of a quick recovery of the West African nation’s least developed region. Militants of the Boko Haram Islamist group on July 25 staged an ambush on geologists, staff of the state-run oil company and soldiers in a …

Eni  Zohr field development offshore Egypt is 80% complete

August 03, 2017 | Development / Production, Egypt

Huge Mediterranean field could satisfy domestic gas demand Cairo, Egypt | – The development of the giant Zohr gas field offshore Egypt, recently discovered by Italian oil giant Eni, is 80% complete less than two years after the discovery was made, a record in the oil industry, Eni CEO Claudio Descalzi said during his meeting with Egyptian Prime Minister Sherif Ismail in Cairo. According to Eni, the meeting, which was also attended by Egypt’s Petroleum and Mineral Resources Minister Tarek El Molla, focused primarily on the future of Zohr’s mega …

Total to boost Nigeria’s oil output by 200,000 bpd in 2018

August 03, 2017 | Company Operations, Nigeria

Lagos, Nigeria | – The Managing Director/Chief Executive Officer Total upstream companies in Nigeria, Mr Nicolas Terraz, on Wednesday said that the firm would boost the country’s daily oil production by 200,000 barrels from 2018. Terraz, who was represented by Mr Biodun Afolabi, Executive Director, Corporate Affairs and Services, said that the additional barrels would come from the company’s multi-billion dollar Egina Field Development. According to the chief executive officer, the Egina Field Development will come on stream in 2018. The managing director, who made …