Upstream

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 …

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 …

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 …

Oil giant Shell plans to cut 90 jobs at its Scottish headquarters in Aberdeen

June 02, 2017 | Company Operations, Employment, North Sea & Western Europe

  Shell told staff on Thursday that the positions are expected to go by the end of 2017 London, UK | – British–Dutch multinational oil and gas company, Shell said the move is not connected to plans to sell off £3 billion of assets to North Sea rival Chrysaor. Shell is also cutting 380 jobs in Glasgow with the closure of its offices in the city. Steve Phimister, UK vice president for upstream operations, said: “We intend to reduce the size of the organisation by approximately 90 onshore …

Italy’s Eni signs LNG deal in Mozambique, raising hopes of gas boom

June 02, 2017 | Company Operations, LNG & LPG, Mozambique

London, UK | – Italian multinational energy company Eni signed an $8-billion deal on Thursday to develop a gasfield off the coast of Mozambique, the first of a series of projects that could transform the poor African nation into a major energy supplier to Asia. Developing the Coral South field, discovered in May 2012 and operated by Eni, requires building six subsea wells connected to a floating facility capable of producing about 3.4-million tonnes of liquefied natural gas (LNG) per year, Eni said. The project would cost $8-billion and LNG exports were expected to start in 2022, Eni said. “The Coral South Project will deliver a reliable source …

Trump dismays, angers allies by abandoning global climate pact

June 02, 2017 | Health, Safety & Environment, Renewable Energy, United States & Canada

London, UK | – President Donald Trump on Thursday said he would withdraw the United States from the landmark 2015 global agreement to fight climate change, drawing anger and condemnation from world leaders and heads of industry. Trump, tapping into the “America First” message he used when he was elected president last year, said the Paris accord would undermine the U.S. economy, cost U.S. jobs, weaken American national sovereignty and put the country at a permanent disadvantage to the other countries of the world. “We’re …

Nigeria’s Q1 refinery output boosted by Niger Delta peace -NNPC

May 19, 2017 | Company Operations, Nigeria, Refining & Processing

Port Harcourt, Nigeria | – Nigeria’s refineries processed 10 million barrels of crude oil in the first quarter, more than they did for the whole of 2015, after talks with militants reduced attacks on facilities, the head of the Nigerian National Petroleum Corporation (NNPC) said. OPEC member Nigeria has a refining capacity of 445,000 barrels per day (bpd) but imports most of its fuel as its three refinery plants have been shut or are running at reduced capacity due to years of neglect, vandalism and …

Tullow Oil strikes more oil deposits in northern Kenya

May 19, 2017 | Company Operations, Exploration / Discoveries, Kenya

London, UK | – UK exploration company Tullow Oil has encountered around 75m of net oil deposits at an exploration well in Northern Kenya. The company found the new deposits at the Emekuya-1 well in Block 13T after drilling a depth of 1,356m and penetrated reservoir quality Miocene sandstones, which correlate to those seen at another Etom-2 well, where oil deposits were discovered earlier. Objective of the Emekuya-1 was to drill a fault block on the flank of the Greater Etom structure. Tullow Oil operates Blocks 13T and …