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The majority of high impact offshore exploration wells in 2020 will be drilled in Africa and the Americas, Rystad Energy, an energy research group based in Norway has said. Rystad Energy rates wells as high-impact by an assessment of several factors. These involve the size of the prospects, hydrocarbon play-opening potential in frontier or emerging... Continue Reading →
Guyana’s total annual oil revenues could hit $30 billion over the next 10 years with production estimated to reach 1.2 million barrels per day by 2030, according to Rystad Energy. Rystad said on Tuesday that Guyana was poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil... Continue Reading →
The long awaited first ever offshore licensing by Senegal has finally been launched as the West Africa country inches closer to achieving its national medium- and long-term hydrocarbon sector investment plan and drive to transform the upstream resource into a source of clean electricity generation. The launch of the licensing round this week in Dakar, Senegal by... Continue Reading →
Italian oil group ENI's Chief Executive Claudio Descalzi could step down if he is found guilty by an Italian court of corruption in Nigeria, he told the Wall Street Journal. Descalzi is one of the defendants in a case over the alleged payment of bribes to facilitate a $1.3 billion oil deal for Nigeria's OPL... Continue Reading →
BP signed an agreement with Angola aimed at acquiring oil further exploration rights, state news agency Angop reported, the latest in a flurry of agreements between oil majors and Africa's second-biggest exporter. The deal with the country's petroleum regulator ANPG defines the terms for a risk-sharing contract on offshore oil block 18/15 and was signed... Continue Reading →
Italian oil and gas company Eni has started oil production from its operated Agogo field, located offshore Angola, only nine months after its discovery. Eni announced “a major oil discovery” in Block 15/06, in the Agogo exploration prospect, in Angola’s deep water in March 2019. Eni operates two FPSOs in Block 15/06, the N’Goma in West... Continue Reading →
Italian oil major Eni and France's Total were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year, the country's petroleum regulator said on Thursday. Eni and Total won operator rights to blocks 28 and 29 respectively in the offshore Namibe basin, while Angola's state... Continue Reading →
Tullow Oil expects to report a $1.5 billion writedown after lowering its long-term oil price assumptions by $10 to $65 a barrel, an announced reduction in reserves in Ghana and disappointing exploration wells, it said on Wednesday. "Tullow expects to report pretax impairments and exploration write-offs of (around) $1.5 billion (c. $1.3 billion post-tax)," it... Continue Reading →
January 15, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release dated 10/31/2018, reports today that it completed the sale - to Petrovida Holding B.V. (Petrovida) - of the 50% equity interest held by Petrobras International Braspetro B.V. (PIBBV) in Petrobras Oil & Gas B.V. (PO&GBV). The transaction involved a total amount of... Continue Reading →
French oil major Total has selected a Maersk Drilling-owned drillship to drill at what the rig owner says will be a world record water depth in Angola-Namibia campaign. Maersk Drilling said on Tuesday that it had been awarded contracts for a three-well exploration drilling project by Total E&P Angola Block 32, Block 48 and Total... Continue Reading →
Brazil Energy Insight 