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DNO ASA, the Norwegian oil and gas operator with operations in Kurdistan and the North Sea, is now expanding to West Africa with the agreed acquisition of offshore fields in Ivory Coast. DNO said Monday that RAK Petroleum plc would transfer its ownership of Mondoil Enterprises LLC to DNO. "The all-share transaction comprises Mondoil Enterprises’... Continue Reading →
Demand for offshore drilling rigs has increased and the global floater market will continue to benefit from an ongoing recovery, Maersk Drilling, an offshore drilling contractor, has said. The rig owner said in its 2Q 2022 report on Friday that the utilisation across both floater and jack-up segments continued to trend upwards during the quarter, primarily as... Continue Reading →
In a move to bring new investments into the oil and gas sector and boost production by tapping into Nigeria’s deepwater hydrocarbon potential, the country inked new production sharing contracts (PSCs) for six offshore licences with oil majors. The execution of fully termed agreements for the renegotiated PSCs was revealed on 12 August 2022, less... Continue Reading →
(Reuters) Norway's Aker Energy said on Wednesday it would postpone submission of a development plan for its Pecan oilfield off Ghana amid concern the project could face sanctions over the war in Ukraine due to the involvement of Russian oil firm Lukoil. Aker Energy, controlled by Aker ASA, owns 50% in the deepwater block off... Continue Reading →
(Rigzone) Dryad Global’s latest Maritime Security Threat Advisory (MSTA) has outlined that the Gulf of Mexico is in the midst of a pirate problem. According to the MSTA, on August 7, pirates onboard two speedboats boarded and robbed a manned semi-submersible drilling rig in the Bay of Campeche approximately 28nm north of Paraiso. The MSTA... Continue Reading →
(Reuters) The European Union is planning a five-fold increase in financial support to an African military mission in Mozambique, an internal EU document shows, as Islamist attacks threaten gas projects meant to reduce the EU's reliance on Russian energy. The energy squeeze due to the Ukraine war has added impetus to Europe's scramble for gas... Continue Reading →
(OE) Oil and gas company Eco Atlantic said Friday it expected to start drilling at its Gazania-1 well off South Africa in September, as the Island Innovator rig, owned by Island Drilling Company AS, was released and mobilized Friday. The Gazania-1 well is located in the Orange Basin in South Africa. The Orange Basin straddles... Continue Reading →
Italian oilfield services firm Saipem said Thursday it had secured three new engineering and construction contracts - one onshore and two offshore - in Angola. The total value is around $900 million. The contracts are with the New Gas Consortium comprised of BP's and Eni's recently established Azule Energy Angolan JV, and Sonangol P&P, Chevron, and TotalEnergies,... Continue Reading →
(OE) Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season. Unplanned disruptions at LNG plants in the United States, Nigeria and Australia have wrong-footed traders, including... Continue Reading →
(Reuters) - Nigeria's petroleum regulator said on Tuesday it stood by its refusal to approve Exxon Mobil's $1.28 billion sale of shares in its Nigerian unit to Seplat (SEPLAT.LG) after President Muhammadu Buhari approved the transaction. Nigerian Upstream Petroleum Regulatory Commission (NUPRC) head, Gbenga Komolafe, said under a new petroleum law passed last year, the petroleum minister... Continue Reading →
Brazil Energy Insight 