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The Nigerian government expects the country to produce 1.88 million barrels per day of crude oil in 2022 and will use a benchmark oil price of $57 per barrel for its budget planning, according to a document approved by the Senate on Wednesday. The Medium-Term Expenditure Framework (MTEF), a crucial part of the annual budget... Continue Reading →
Vessel utilization in the offshore oil and gas seismic data acquisition sector has reached pre-pandemic levels in the third quarter of 2021, Rystad Energy has found. Rystad, a Norway-based energy industry intelligence firm, said that, after several devastating quarters caused by the pandemic, the seismic fleet’s hibernation is now over, with around 68% of the fleet... Continue Reading →
(Reuters) - Angolan state oil giant Sonangol registered a $4.1 billion net loss in 2020 as the COVID-19 pandemic hollowed out sales and the company struggles to lighten its large debt with asset sales, according to its annual results published this week. The company is the engine of Angola's economy and central to a state... Continue Reading →
Africa-focused Tullow Oil's finance chief Les Wood will step down by the end of March, the oil and gas company said on Wednesday, after it swung back to profit in the first half of 2021. Tullow, which has been operating in Africa since 1986, said profit after tax came in at $93 million for the... Continue Reading →
TGS has started a new 2D seismic survey in the Mauritania-Senegal-Gambia-Bissau-Conakry (MSGBC) Basin offshore Mauritania. The survey adds to the North-West Africa Atlantic Margin (NWAAM) 2D campaign, the seismic company said. The NWAAM 2021 survey will comprise 7,500 kilometers of seismic data, with a modern broadband acquisition setup. The vessel BGP Pioneer will undertake the survey that... Continue Reading →
Offshore engineering firm Aquaterra Energy has signed an engineering and design service agreement with an unnamed "supermajor" to deliver multiple offshore platforms over a three-year period. The platforms, of Aquaterra Energy's Sea Swift design, will be destined for off the coast of the Cabinda Province, offshore Angola. "Won through a competitive tender process, Aquaterra Energy... Continue Reading →
Oslo-listed oil and gas company BW Energy's recently announced offshore oil discovery in Dussafu Block in Gabon is smaller than expected. The company in August said it had discovered oil in the Hibiscus North exploration well (DHBNM-1) in the Dussafu Block, offshore Gabon, but the size estimate would have to wait until the drilling has... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore said Friday it had secured contracts for seven platform supply vessels. Without sharing the client identity Solstad Offshore said the new medium-term contracts were secured in West Africa. Solstad said it had signed letters of agreement with "key clients for 7 PSVs", all with start-up in the fourth quarter... Continue Reading →
Offshore vessel owner Bourbon has secured a contract with Shell to provide international freight forwarding, integrated logistics services, and platform supply vessel services to support two deepwater offshore exploration campaigns in Namibia and Sao Tomé. The project scope covers the international shipment and clearance of Shell's and its subcontractors’ equipment from Houston to Walvis Bay,... Continue Reading →
Italian oil company Eni on Wednesday announced a major oil discovery in block CI-101 offshore Ivory Coast. "The potential of the discovery can be preliminarily estimated at between 1.5 and 2.0 billion barrels of oil in place and between 1.8 and 2.4 trillion cubic feet (TCF) of associated gas," Eni said. The discovery well has... Continue Reading →
