FAR Limited has said that it has received a conditional non-binding indicative proposal from PJSC Lukoil, one of the world’s largest publicly traded energy companies, to acquire 100% of the shares of FAR at A2.2c cash per share. Lukoil is headquartered in Russia. The Lukoil Proposal values FAR at A$220 million. FAR cautions that the […]

BW Energy has announced that the EBITDA for the fourth quarter of 2020 was USD 28.3 million, up from USD 22.2 million in the third quarter. Dussafu production averaged approximately 13,500 barrels of oil per day from four wells, amounting to a total gross production of  1.24 million barrels of oil in the quarter. Two […]

PGS, in cooperation with ANPG, has begun a new fully prefunded MultiClient 3D survey in the Lower Congo Basin, near the river plume of the Congo in Angola Block 1/14. The acquisition phase will continue until April and fast-track data is expected in October 2021. Ramform Atlas is acquiring high-density 3D GeoStreamer data using a […]

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa “This support from the African Development Bank will enable the operationalization of the new SIE as a Super ESCO, […]

The Department of Petroleum Resources (DPR) has dismissed media reports that it uncovered a ‘missing 2 million barrels of crude’ in oil production records by Shell Petroleum Development Company (SPDC) between 2016 and 2018. The DPR described the allegations as false and baseless. The report had alleged that SPDC which was allegedly found culpable had admitted […]

United Oil & Gas PLC the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, has announced update on the drilling of the ASH-3 well in the Abu Sennan concession, onshore Egypt. United holds a 22% non-operating interest in Abu Sennan, which is operated by Kuwait Energy Egypt. Highlights Total of 27.5m […]

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has charged International Operating Oil and Gas Companies to emulate Total Exploration and Production Company (Total E&P) in sponsoring new projects and stop being deterred by the delayed passage of the Petroleum Industry Bill (PIB). He gave the charge recently when […]

The Nigerian Oil and Gas Park being developed by the Nigerian Content Development and Monitoring Board (NCDMB) at Emeyal 1, Bayelsa State would be completed in the 4th quarter of 2022, the Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote has said. He spoke on Wednesday after inspecting construction work at the project site in company […]

Nigeria’s owned oil company is renegotiating commercial contract terms with multinational oil firms, in a move that it hopes will keep investment flowing into the sector crucial for its economy at a time when spending is being slashed owning to the uncertainties occasioned by corona virus pandemic.  Africa’s largest oil exporter and biggest economy relies […]

Nigeria’s Supreme Court has ruled in favour of Norwegian oil company Equinor in a long-battled case over profit from its stake in the Agbami oilfield, a company spokesman said on Friday 05, 2021. According to the company’s spokesman Erik Haaland, the milestone ruling has ended the long legal proceedings. It alleviates more than 10 years […]