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Oil and gas company BW Energy has signed an up to $300 million international Reserve Based Lending (RBL) facility, to finance further development work in a block offshore Gabon. The facility has an initial commitment of $200 million which can be expanded up to an additional $100 million. The secured long-term debt facility has been... Continue Reading →
(Reuters) - Nigerian President Muhammadu Buhari has granted consent to the acquisition of Exxon Mobil's Nigerian unit by Seplat Energy (SEPLAT.LG), in a $1.28 billion deal announced in February. Buhari, who doubles as oil minister, granted ministerial approval to the deal, the presidency said in a statement on Monday. Exxon and Seplat are expected to operate... Continue Reading →
The Netherlands-headquartered maritime services company EMAR Offshore has bought two fast crew supplier (FCS) vessels from the Dutch shipbuilder, Damen Shipyards Group. As both vessels are already in stock, one of them has already kicked off operations in Angola to support the country’s oil and gas industry, while the second vessel is expected to join the... Continue Reading →
Over the second quarter of 2022, BP’s Greater Tortue Ahmeyim (GTA) project in Mauritania and Senegal achieved a 5 per cent progress, when compared to the previous quarter of the year, topping the 80 per cent mark. The project is on track for the first gas in 3Q 2023 despite delays related to the FPSO... Continue Reading →
Italian oil major Eni announced it has signed a deal to to buy the Tango FLNG floating liquefaction plant from Belgium-based Exmar for use in the Republic of Congo. Under the agreement, Eni will acquire Exmar's company Export LNG Ltd, which owns the Tango FLNG. Tango FLNG, delivered in 2017, has a storage capacity of... Continue Reading →
Japanese FPSO operator MODEC and its compatriot EPC company Toyo Engineering Corporation (TOYO) are setting up a joint venture for floating production storage and offloading (FPSO) vessels. As revealed on Friday, the two have executed an agreement for the establishment of a joint venture company for the Engineering, Procurement, Construction and Installation (EPCI) business of... Continue Reading →
Energy intelligence group Westwood is seeing a rebound in high-impact exploration this year with expectations for it to pick up in the second half and deliver up to 90 wells by year’s end, the highest level since 2019. In a report on Wednesday, Westwood said that 38 high-impact exploration wells were drilled in the first half of 2022, similar... Continue Reading →
Oil and gas companies BP and Eni have confirmed that Azule Energy, a new 50/50 independent joint venture combining the two companies’ businesses in Angola, has been officially established. Following a memorandum of understanding from May 2021, BP and Eni signed an agreement to form the new JV in mid-March 2022. As announced by the two oil players on... Continue Reading →
(Reuters) - Licensing rights for 30 oil and gas blocks in the Democratic Republic of Congo went up for auction on Thursday, opening parts of the world's second-biggest rainforest to drilling that could release large amounts of carbon into the atmosphere, jeopardising climate goals to tame global warming. President Felix Tshisekedi presided over the launch... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI) on Friday doubled its share buyback plan for this year and approved a new share purchase programme for 2023 after reporting a jump in profits in the second quarter on the back of soaring oil prices. Eni's move follows similar action by Shell (SHEL.L) and TotalEnergies (TTEF.PA), which extended share buybacks on Thursday... Continue Reading →
Brazil Energy Insight 