Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces that an award has been received for a 4D marine seismic acquisition project offshore West Africa. The project duration is approximately two months and is scheduled to commence in Q4 2019 following a scheduled class docking. Polarcus (OSE: PLCS) is an innovative marine geophysical company with […]

Shear water GeoServices Holding AS (“Shear water”) has been given a conditional letter of award for a 2D seismic acquisition and fast-track processing project by Total E&P South Africa B.V.The survey at block 11B-12B will be Shear water’s first project offshore South Africa. It has a base duration of 2 months starting in Q4 2019 […]

Oil markets are expected to face excess supplies in 2020 due to a production boost amid weak demand growth, the director for energy markets and security at the International Energy Agency said “Overall, we will continue to see a well supplied market in 2020,” said Keisuke Sadamori at the Singapore International Energy Week. “Unless other […]

The construction of 650,000 barrels per day of crude oil dangote refinery in Lekki, Nigeria is finally scheduled to come on stream in 2021, while the full. Operations at the refinery is expected to hit its full capacity by middle of 2021, This was disclosed by Devakumar Edwin, a group executive director at Dangote Industries […]

The Nigerian power sector regulator- Nigerian Electricity Regulatory Commission (NERC) has granted Green Energy International Ltd (GEIL), the Operator of the Otakikpo Marginal field an embedded Licence for forty Megawatts of electricity (40 MW) power plant.This is sequel to the company’s application for the power generation Licence for the company to utilize it’s gas resources […]

A(AGEL), the operator of the Ubima Marginal Field, OML 17 has commenced production and extended well test programme from the Nigerian onshore field. This is Sequel to triumphant re-entry, work over and completion of Ubima-01 well, The ground breaking event was observed by company’s top management and major stakeholders who gathered to usher in a […]

Green Energy International Limited, operator of the Otakikpo marginal field in Oil Mining Lease 11 in Rivers State has announced the signing of a $ 3 5 0 m M e m o r a n d u m o f Understanding with a consortium of international companies for the development of the marginal field […]

Aiteo Group is negotiating an alternative financing package that would enable it fund about $5 billion investment to be able to increase its oil production to about 250 000 barrels per day (bpd).This will also grow gas output to about 3 million standard cubic feet per day (mmscfd) of gas.The Managing Director, Eastern Exploration and […]

Oriental Energy Limited (OERL), has confirmed oil discovery in two deep prospects that were identified during extensive subsurface studies in its offshore Ebok field. According to a statement, Oriental Energy commenced the appraisal drilling campaign in the North Fault Block of the field in Q1 2019 with the objective of testing the hydrocarbon potential of […]

Eni, through its affiliate NAOC (Eni 20%, operator, NNPC 60%, Oando 20%) has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta. The Obiafu-41 Deep well has reached a total depth of 4.374 m encountering an important gas and condensate accumulation within the deltaic […]