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(Reuters) - Shell (SHEL.L) is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion.The British energy giant pioneered Nigeria's oil and gas business beginning in the 1930s. It has struggled for years... Continue Reading →
(OET) In a bid to propel the development of four oil projects forward, Angola-based Azule Energy, a joint venture between BP and Eni, has set its cap on using a digital design and visualization platform from FutureOn, a Norwegian software company specializing in the energy sector, which allows the latter to gain its first foothold in... Continue Reading →
(OET) Offshore drilling contractor Diamond Offshore Drilling has confirmed the start of a new assignment for one of its semi-submersible rigs, which is working for Petrobras offshore Brazil. The Ocean Courage semi-sub rig concluded its campaign with Petrobras in Brazil in late September 2023 and mobilized to Guanabara Bay to prepare for its next contract with the Brazilian energy giant,... Continue Reading →
(OE) Portuguese oil and gas company Galp has reported the discovery of light oil in in an exploration well being drilled offshore Namibia with Hercules semi-submersible rig. The news follows Galp’s January 2 update informing about preliminary signs of hydrocarbon presence at the Mopane-1X well, being drilled at Petroleum Exploration License 83 (PEL 83) block in Namibia’s... Continue Reading →
(OE) Portuguese oil and gas company Galp has reported preliminary signs of hydrocarbon presence in an exploration well being drilled offshore Namibia. Galp (operator, 80%) and its partners NAMCOR and Custos (10% each) initiated the drilling campaign in PEL 83, offshore Namibia, on November 17, 2023. The first well, Mopane-1X, indicates preliminary signs of hydrocarbon... Continue Reading →
(OET) The offshore drilling market has been reaping the benefits of the ongoing upcycle, as rising demand and tightening supply brought higher day rates and fleet utilization in 2023. Will this trend continue in 2024? Westwood Global Energy, an energy market research and consultancy firm, has outlined its top three predictions for the year ahead,... Continue Reading →
(OE) Italian oil giant Eni has started the introduction of gas into the Tango floating liquefied natural gas (FLNG) unit moored in Congolese waters. Gas introduction has been achieved in record time - only twelve months after the final investment decision, according to Eni. Following completion of the commissioning phase, Tango FLNG will produce its... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors has approved the company's operations in São Tomé and Príncipe, a country on the west coast of Africa, enabling the acquisition of stakes in 3 exploratory blocks, through a competitive process conducted by Shell. The transaction is part of the scope of the Memorandum... Continue Reading →
Industry continues chasing big oil, key gas targets also on the radar (OE) Global exploration drilling is set for a boost in 2024 – we have line of sight on over 200 wells targeting over 30 bnboe of resource (unrisked). Several gas hotspots are on the industry agenda, whilst the strong appetite for oil exploration... Continue Reading →
(Reuters) - Angola's decision to leave the Organization of the Petroleum Exporting Countries could open the way for Beijing to increase investment in the country's oil and other sectors, as part of a deepening of decades-old ties. Angola said on Thursday it was leaving OPEC, effective from Jan. 1, following a row with the producer group... Continue Reading →
Brazil Energy Insight 