Seplat Petroleum the Nigeria’s indigenous leading upstream oil company, has reported that it took an impairment loss of N41.1 billion ($114.4 million) from its interest in OML 55, a contentious Oil block it currently shares with Belemaoil under a management contract signed in 2017.  The losses contributed significantly to the company’s full-year loss of N30.7 […]

The ASD-1X exploration well, located 12km to the north-east of the producing Al Jahraa Field, safely reached its projected depth several days ahead of schedule and under budget. United Oil and Gas has announced that  it achieved a positive outcome in its drilling of the ASD-1X exploration well in the Abu Sennan concession. Preliminary results suggest […]

The Algerian National Hydrocarbons Company SONATRACH and Shell International Trading and Shipping Company Limited on Thursday signed a memorandum of understanding, which provides a framework for companies to explore means of cooperation on the supply and trading of hydrocarbons, said a statement from SONATRACH. “SONATRACH and Shell International Trading and Shipping Company Limited signed a […]

Nigeria said it welcomes all interested countries as it seeks a combined $4 billion for rehabilitation of both Warri and Kaduna refineries, including associated pipelines. A proposal on ‘Nigeria National Petroleum Corporation Energy Infrastructure Opportunities’ presented by the Nigerian National Petroleum Corporation, NNPC to the U.S Commercial Service said the sum of $2.5 billion is […]

FAR Limited refers to previous announcements, including its 17 February 2021 announcement that it had received a conditional non-binding indicative proposal from PJSC Lukoil to acquire the shares of FAR at 2.2c cash per share (Lukoil Proposal).  FAR had cautioned that the Lukoil Proposal was not a legally binding offer, was subject to targeted and […]

Trident Energy has been busy developing new ways of enhancing its production in Equatorial Guinea and the company is pleased to confirm the successful completion of its first deep offshore hot tapping operation, conducted on its CEIBA field which is located on the present-day continental slope. This innovative and complex method which was completed at […]

The company set out its plans in its annual filing with the US Securities and Exchange Commission (SEC). Total began drilling an appraisal well on Block 20/11 in January and another is planned for Block 48 this year. It bought the former block in June 2020, following the collapse of Cobalt International Energy, which had […]

Victoria Oil & Gas, whose wholly owned subsidiary, Gaz du Cameroun S.A., the onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, provides a corporate and operational update on key matters. HIGHLIGHTS The Company experienced a small number of positive Covid-19 cases in the Douala office over the last […]

Tullow Oil plc (Tullow) has announced that the sale of its assets in Equatorial Guinea to Panoro Energy ASA (Panoro) has now completed. Tullow received a payment of $88.8 million from Panoro.  As previously disclosed, this transaction also includes contingent cash payments of up to $16 million which are linked to asset performance and oil […]

The Department of Petroleum Resources (DPR) has outlined five critical levers for gas development as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for  economic transformation. A statement issued on Monday by Mr Paul Osu, Head, Public Affairs, DPR said Mr Sarki […]