Exploration / Discoveries

ExxonMobil makes oil discovery in Equatorial Guinea Block EG-06

December 12, 2017 | Equitorial Guinea, Exploration / Discoveries

London, UK | – The Equatorial Guinea Ministry of Mines and Hydrocarbons announced that American multinational oil and gas corporation, ExxonMobil has struck oil with its Avestruz-1 well in Block EG-06. The government of Equatorial Guinea has partnered with ExxonMobil in Block EG-06 through a 20-percent stake held by Equatorial Guinea national oil company GEPetrol. The well was drilled in October 2017. The operator is now assessing potential commerciality. Avestruz-1 is located approximately 160 kilometres offshore Malabo in an exploration area adjacent to ExxonMobil’s Zafiro …

Statoil plans to drill five to six wells in Arctic Barents Sea in 2018

November 28, 2017 | Drilling / Completions, Exploration / Discoveries, North Sea & Western Europe

London, UK | – Norwegian multinational oil and gas company and the world’s largest offshore operator, Statoil will continue to drill for oil in the Arctic Barents Sea next year even though its 2017 campaign was mostly disappointing, the company’s head of exploration told Reuters on Nov. 28. Statoil plans to drill between 25 and 30 wells in Norwegian waters in 2018. Of these wells five or six are expected in the Barents and the rest will be split between the North Sea and the …

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 …

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 …

At least 30 dead after attempted rescue of abducted oil team in northeast Nigeria

July 27, 2017 | Civil Wars & Terrorism, Exploration / Discoveries, Nigeria

Maiduguri, Nigeria | – At least 30 people including civilians and members of the military have died after an attempted rescue of an oil exploration team kidnapped by suspected Boko Haram militants in northeast Nigeria, officials told Reuters on Thursday. The team searching for oil in Nigeria’s conflict-ridden northeast was made up of members from the state oil firm and university researchers and staff, while the attempted rescue was carried out by military personnel and vigilantes. The military said a day earlier that it had …

Nigeria’s NNPC collaborates with Halliburton for oil search in inland basins

July 22, 2017 | Exploration / Discoveries, New Technology, Nigeria

Lagos, Nigeria | – A new vista has been added to the ongoing search for commercial hydrocarbon in the inland sedimentary basins by the Research and Development Division of the Nigerian National Petroleum Corporation (NNPC), following ongoing collaboration with the US based Halliburton Corporation to achieve the exact location of viable crude oil deposits. Group General Manager in charge of the R&D Division, Dr. Bola Afolabi, said in Port Harcourt that the collaboration with Halliburton would help fast-track the inland basin exploration efforts through the …

Gambia ends exploration extension talks with African Petroleum, seeks new bidders

July 05, 2017 | Exploration / Discoveries, Government & Regulations, West Africa

Banjul, Gambia | – Gambia has ended talks with African Petroleum to extend oil exploration in two of the West African country’s most promising offshore blocks and is now in preliminary discussions with new investors, a senior oil official told Reuters. Oslo-listed African Petroleum’s share price fell 57 percent after the story was published, prompting the bourse to temporarily suspend trading. The company, founded by Australian-Romanian billionaire Frank Timis, issued a statement denying that its licenses had been terminated. African Petroleum had been seeking to …