Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Global commodity trader Trafigura Group hit a record net profit for a second year running in its 2021 financial year after a strong performance across divisions and significant energy market dislocations. The Geneva-based firm posted a net profit of $3.1 billion for its financial year ending Sept. 30, almost double the previous year.... Continue Reading →
Cabinda Gulf Oil Company Limited (CABGOC), an affiliate of Chevron in Angola, has secured an extension of the Block 0 concession, off the coast of Cabinda province in Angola. Chevron stated on Monday that the agreement extends the concession for 20 years, through 2050. Under the renewed agreement, CABGOC will remain the operator with a 39.2... Continue Reading →
Oil major Shell is free to go ahead with its planned seismic surveys along the eastern coast of South Africa after the court dismissed an 11th-hour legal challenge by environmental groups which claim that the activities will cause irreparable harm to the marine environment in the region. The seismic survey, initially scheduled to begin on... Continue Reading →
FAR, an Australian oil and gas company that began drilling at the Bambo-1 exploratory well in Block A2 off the coast of The Gambia last month, said Monday the well had encountered oil traces but would have to be plugged and side-tracked after drilling was temporarily halted due to significant fluid losses. "FAR advises that the Bambo-1... Continue Reading →
French oil major TotalEnergies said Friday it had started production from the CLOV Phase 2 in Angola, a project connected to the existing CLOV FPSO. Sitting approximately 140 kilometers from the Angolan coast, in water depths from 1,100 to 1,400 meters, the CLOV Phase 2 resources are estimated at around 55 million barrels of oil... Continue Reading →
TechnipFMC’s Takoradi base in Ghana has completed the assembly of its first subsea tree in five years, destined for Tullow Oil’s Jubilee South East development. The tree is the first of ten being manufactured in Dunfermline, the UK, then assembled and tested in-country for Tullow’s full field development (FFD) project. Besides tree assembly, a number... Continue Reading →
TotalEnergies has spudded the Venus-1X offshore exploration well in Namibia's Block 2913B (PEL 56). The well, seen as potentially transformational for the Namibian oil industry, is being drilled in 3,000 meters water depth. The news of the drilling operation start-up was shared Wednesday by Impact Oil and Gas, which owns a 20% interest in Block... Continue Reading →
Nigeria's Seplat Energy along with a partner is in talks to buy ExxonMobil's shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome. In recent years, Exxon has been exiting investments worth billions of dollars in oil and gas fields in Europe, Asia and Africa as... Continue Reading →
Offshore oil and gas exploration projects are expected to double the growth of well intervention market, as operators seek to increase production from existing fields amid skyrocketing oil and gas demand. Fact.MR expects the global well intervention market to reach $7.1 billion in 2021 with an increase of 7 per cent CAGR between 2021 and 2031, thus, surpassing $14... Continue Reading →
BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output. The Platina field will be linked to BP's existing Greater Plutonio floating production, storage and offloading (FPSO) system in Angola's Block 18 which started up in 2007. It will produce... Continue Reading →
