Brought to you by Quest Offshore & Southern Cone Consultants
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 →
The energy transition and Extinction Rebellion led the energy news agenda and discussions in company boardrooms in 2019, but the impact on exploration drilling is not yet apparent, according to market research provider Westwood Global Energy Group. Westwood is suggesting keeping an eye on Brazil in 2020 with one high impact well currently drilling and... Continue Reading →
The world’s oil and gas explorers have discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates by energy intelligence firm Rystad Energy. Guyana’s success story from 2018 continued in 2019, with ExxonMobil adding four new discoveries within its offshore Stabroek block, with the last one coming in... Continue Reading →
As the New Year kicks off this week, some of Africa’s oil and gas producers are looking forward to fast-tracking approved offshore exploration plans to counter falling production volumes and meet the increasing demand especially for natural gas required for power generation and growing import orders especially from Asia and Europe. It is expected leading... Continue Reading →
When asked where the hotspots for 2020 exploration might be, Brown said, “Brazil is the obvious answer”, noting that an increasingly diverse operator mix – including Equinor and Shell among those joining Petrobras in exploring the deepwater pre-salt – will be key to success in the region. “Brazil is on the verge of a revival... Continue Reading →
Total said on Monday it had signed a sale and purchase agreement with state-owned Sonangol of Angola to acquire interests in Blocks 20/11 and 21/09 in the Kwanza Basin, offshore Luanda. Subject to the approvals of the competent authorities and partners, the group will hold a 50% working interest, alongside Sonangol (20%) and BP (30%),... Continue Reading →
Shares in oil and gas company Tullow Oil tanked on Monday morning after the company announced the departure of its chief executive and exploration director as well as plans to reduce capital expenditures and suspend the dividend. Paul McDade, Tullow Chief Executive Officer, and Angus McCoss, Exploration Director, have resigned from the board of Tullow by... Continue Reading →
Brazil Energy Insight 