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Oil and gas company New Age the operator of the Etinde license offshore Cameroon has signed a definitive conditional agreement to transfer all of New Age's participating interests in the Etinde permit, and operatorship of the Etinde JV. This is according to Bowleven, a partner in the license which contains the Etinde gas condensate field.... Continue Reading →
(Reuters) Impact Oil & Gas is considering selling its 20% stake in a large block in deep water off the coast of Namibia where TotalEnergies made a significant oil discovery this year, four industry sources told Reuters. Impact, which is privately owned and focused on exploration in Africa, has hired investment bank Jefferies to prepare a sale process for... Continue Reading →
(OE) VAALCO Energy on Monday announced the successful drilling of the South Tchibala 1HB-ST well, offshore Gabon. The well was drilled from the Avouma platform in the Etame field, offshore Gabon. The company said it had discovered significant columns of multiple hydrocarbon-bearing sands in the Dentale, and it was completing the Dentale D1 sand... Continue Reading →
African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines. The introduction of more oil and gas exploration and production licensing rounds across Africa will enable the continent to make new... Continue Reading →
As it completes the drilling of another well offshore Gabon, Houston-based Vaalco Energy is anticipating a boost to its reserves and production after its third well in 2022 goes online later this month. In a bid to execute its new four-well 2021/2022 drilling campaign focused on the Etame field, Vaalco hired in June 2021 a jack-up rig... Continue Reading →
(EV) “There is a unique opportunity to invest in new projects, given the high prices, which we expect to remain high for a few years,” IHS technical researcher for Africa Ismini Katsimpardi said. “Projects that were not viable one or two years ago can now go ahead.” Katsimpardi talked through discoveries in Cote d’Ivoire, Namibia... Continue Reading →
London-listed Tullow Oil and Capricorn Energy, formerly known as Cairn Energy, have reached an agreement on the terms of a recommended all-share combination of Tullow and Capricorn to create what they say will be “a leading African energy company.” The two companies revealed on Wednesday that it is intended that the combination will be implemented by... Continue Reading →
(Reuters) - Russia's invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia. The reroutings mark the biggest supply-side shakeup of the global oil trade since the U.S. shale revolution... Continue Reading →
E&P company BW Energy is still on track for the first oil from its Hibiscus/Ruche development off Gabon later this year despite delays caused by Covid-19 and the war in Ukraine. However, there is still an increased risk of delays due to price inflation on services and materials. BW Energy is currently executing the Hibiscus/Ruche development project,... Continue Reading →
(Reuters) Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after the COVID-19 pandemic. Drilling companies are in a stronger position to demand higher dayrates for their equipment after several lean years that led to... Continue Reading →
Brazil Energy Insight 