88 Energy the execution of a three stage farm-in agreement with a wholly-owned subsidiary of Monitor Exploration Limited (Monitor) to earn up to a 45% non-operated working interest in onshore Petroleum Exploration Licence 93 (PEL 93), located in the Owambo Basin, Republic of Namibia. Farm-In Agreement detail The Farm-In Agreement is between Eighty Eight Energy […]
The Nigerian National Petroleum Company Limited (NNPC Ltd.) will continue to collaborate with the Nigeria Extractive Industries Transparency Initiative (NEITI) and all relevant stakeholders in the Reconciliation Committee set up by President Bola Ahmed Tinubu to investigate, review and reconcile the financial records on alleged indebtedness to the Federation by both NNPC Ltd. and the […]
The NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market. The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European […]
The management of Heritage Energy Operational Services Limited (HEOSL) and other indigenous oil and gas companies have been advised to adopt strict corporate governance guidelines in their operations if they want their firmsto grow sustainably. The companies were equally encouraged to comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) […]
Afentra has received approval from the Government of Angola for the acquisition from Sonangol Pesquisa e Producao S.A. (‘Sonangol’) of a 14% non-operating interest in Block 3/05 and a 40% non-operating interest in Block 23, offshore Angola (the ‘Sonangol Acquisition’) pursuant to a sale and purchase agreement between Sonangol and Afentra’s wholly-owned subsidiary, Afentra (Angola) […]
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has provided insight into how the lingering conflict between Russia and Ukraine has impacted Nigerian crude in the international market leading to a dip in demand from the once-dependable Asian market at the onset of hostilities in the Eastern bloc. Maryamu Idris, Executive Director, Crude & Condensate, NNPC […]
United Oil & Gas, the full-cycle oil and gas company with a portfolio of production, development, exploration and appraisal assets, issues the following update in relation to their Jamaican and Egyptian assets. The Group’s working interest production averaged 1024 boepd (946 bopd oil and 78 boepd gas) for the year to 5 November 2023, […]
SONATRACH said the company has resumed operations in Libya. This was announced by the company when the Chairman and CEO of the SONATRACH Group, Mr. Rachid HACHICHI, led a high-level delegation made up of senior executives of the SONATRACH Group for a courtesy visit to the National Oil Company (Libya), in Tripoli. This visit is […]
The government of Zanzibar has disclosed their intention to launch a new international bidding round to promote oil and gas opportunities. The first licensing round is expected to take place in Q4 2023, and SLB is collaborating with Zanzibar Ministry and Zanzibar Petroleum (UPSTREAM) Regulatory Authority (ZPRA) to uncover the basin’s potential. SLB has completed […]
The ongoing construction of the $5bn Train-7 project being undertaken by the Nigeria Liquefied Natural Gas (NLNG) at Finima, Bonny Island, Rivers State has reached 52 percent and currently engages 8,300 Nigerians of diverse skill sets. These facts emerged on Friday as the Management of the Nigeria LNG Limited led by the Managing Director, Dr. […]
