In a fresh bid to ramp up crude production in Nigeria, Shelf Drilling has been awarded two new drilling contracts to provide two jack-up rigs in Nigeria. With reference to the press release dated September 6, 2024, regarding the award in West Africa, the Company has now fully executed a three-year contract for the Shelf […]

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has recently in a media briefing refuted the claim that directed the Nigerian National Petroleum Company (NNPC) Limited to seize operating the four nation’s refineries and channel its resources basically on joint venture partnerships with private refineries. “My attention has been drawn to statements […]

…..supporting Marathon Oil with Master Service Agreement Petrofac confirms further growth in Africa, with a new Master Service Agreement (MSA) award, supporting Marathon Oil in Equatorial Guinea.   Under the agreement Petrofac will provide technical authority and discipline engineering support, ensuring operational excellence, integrity, and safety. It will support key onshore and offshore assets: including five […]

In a landmark move in reducing pressure on the Naira, eliminating unnecessary transaction costs, and improving the availability of petroleum products, the Federal Government has successfully initiated the sale of crude to local refineries as well as the corresponding purchase of petroleum products in Naira. The Hon. Minister of Finance and Coordinating Minister of the […]

The Nigerian Federal Government has shown sheer determination to ensure a boost in the nation’s upstream and downstream sectors. Through the Ministry of Finance, the Federal Government has introduced groundbreaking concessions to revitalize Nigeria’s oil and gas industry. According to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun the […]

Capricorn has been notified by Woodside Energy that the production condition under the sale and purchase agreement related to the disposal of its production sharing contract (PSC) interests in Senegal has now been met as there has been at least 30 days of continuous production on the asset. As previously noted, Capricorn may be entitled […]

China Petroleum Pipeline Engineering Co. Ltd, the construction contractor for the East African Crude Oil Pipeline (EACOP) Ltd, has today received a delivery of 9 trucks from the coating plant in Tanzania of insulated line pipe at the Main Camp and Pipe Yard (MCPY) 4, in Kyotera District. These pipes will then be welded and […]

The Nigerian Minister of State for Petroleum (Gas) Hon. Ekperikpe Ekpo has reiterated the present government of President Ahmed Bola Tinubu’s unwavering commitment to harnessing and utilization of the nation’s abundant natural gas reserves through indigenous companies’ direct investment participation. Disclosing this great feat achievement in the sector, the Hon Ekperikpe stated that a significant […]

McDermott, through a consortium with Saipem and China Petroleum Engineering and Construction Corporation, has been awarded a front-end engineering design (FEED) contract for the Rovuma LNG Phase 1 Project in Mozambique, a joint venture between ExxonMobil Development Africa B.V., Eni S.p.A. and CNODC Dutch Cooperatief U.A. The Rovuma LNG Phase 1 project represents a significant development […]

The Nigerian presidential spokesman and senior special assistant Stanley Nkwocha disclosed that ExxonMobil has unveiled plans to invest $10 billion in Nigeria’s deepwater oil development. Nigeria’s Vice President Kashim Shettima “welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies,” […]