The Nigeria government resilient commitment pursuit to effect maximum utilization of its nation’s abundant natural gas is evidently coming to the fore. The recent and major gas investment stride is the award of License to Establish (LTE) for the first Floating LNG production plant issued to an indigenous company UTM Offshore Limited by the Director/CEO […]
Axxela Limited via its subsidiary Transit Gas Nigeria Limited (“TGNL”), and in partnership with the Nigerian Gas Marketing Company Limited (“NGMC”) a subsidiary of the Nigerian National Petroleum Corporation, its long-time strategic partner, has successfully commissioned an 18km gas pipeline system in Ogun State, South West, Nigeria. The 150mmscfd pipeline runs from Ibefun to Rite Foods Limited’s large-scale factory […]
Leading energy company, The Shell Petroleum Development Company of Nigeria Limited (SPDC), has restated commitment to support the Federal Government of Nigeria’s goal of using the country’s proven gas reserves to trigger economic activities for gas-based industrialization. Mr. Osagie Okunbor Managing Director, The Shell Petroleum Development Company of Nigeria (SPDC) and Country Chair of Shell […]
The Nigerian government has reiterated its commitment towards global net-zero emission affirmation of being part of the signatories to the Paris Climate Accord. The assurance this time around is coming from the nation’s Vice President, Prof. Yemi Osinbajo and he stated this during the recently held Federal Economic Council meeting in Nigerian capital city of […]
Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and the London Stock Exchange, has announced its audited results for the financial year ended 31 December 2020. Operational highlights · Working-interest production within guidance at 51,183 boepd, despite demand fall and OPEC+ quotas · Liquids production […]
The Nigeria government and the Kingdom of Morocco has signed five strategic Memorandum of Understandings (MOUs) that would foster Nigerian – Morocco bilateral collaboration and promote the development of hydrocarbons, agriculture, and commerce in both countries. The Minister of State for Petroleum Resources, Chief Timipre Sylva led the Nigerian delegation to the agreement signing ceremony […]
The ANOH Gas Processing Plant development at OML 53 (and adjacent OML 21 with which the upstream project is unitised) will drive the next phase of growth for Seplat’s expanding gas business. The project will comprise a Phase One 300 MMscfd midstream gas processing plant. The ANOH plant is being built by AGPC, which is […]
Sasol said it has completed the divestment of the 27.75% non-operated interest in the Etame Marine Permit (EMP) to VAALCO Gabon S.A. (VAALCO) on 25 February 2021 after completion of all legal and regulatory closing conditions. Subsequent to concluding the Sale and Purchase Agreement with VAALCO in November 2020 to divest both the EMP and […]
VAALCO Energy has announced that it has now completed the previously announced acquisition of Sasol Gabon S.A.’s (“Sasol”) 27.8% working interest(1) in the Etame Marin block offshore Gabon, increasing the Company’s total working interest to 58.8%. Key Highlights Nearly doubles VAALCO’s total net production and reserves; Expected to be immediately accretive to VAALCO, with minimal additional […]
Over the past few weeks, Tullow has been reviewing its business plan and operating strategy with lending banks within its RBL and their financial advisers, as well as with the financial advisers of the 2021 convertible bond holders and the 2022 bond holders. This plan is expected to generate material cash flow, which will enable […]
