Yinson Production has announced that FPSO Maria Quitéria has achieved first oil on 15 October 2024, followed by a successful 72-hour test. This marks the commencement of the project’s firm charter, with contracted day rates being paid to Yinson Production for a period of 22.5 years, until 2047. The project has also achieved an impressive […]

Transocean Ltd. has announced a one-year contract for the Deepwater Conqueror with an undisclosed operator in the U.S. Gulf of Mexico. The contract is expected to commence in October 2025 and contribute approximately $193 million in backlog, including additional services. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of […]

Chevron Canada Limited, an indirect subsidiary of Chevron Corporation, has announced that it and a related entity have entered into a definitive agreement to sell their 20 percent non-operated interest in the Athabasca Oil Sands Project, 70 percent operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural […]

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 […]

The discussions are over blocks in nations including Namibia, South Africa and Angola, Petroleo Brasileiro SA’s head of exploration and production, Sylvia dos Anjos, said in an interview. Petrobras is studying a total of 10 opportunities to partner with oil majors in Africa as the Latin American company tries to capitalize off its expertise in […]

Upstream investment in Africa: what does the future hold as new investment hotspots replace legacy producers? Upstream investment in Africa has been slower to recover from the pandemic compared to more agile regions with lower costs. Upstream investment in Africa has been slow to recover after cuts of 40% during the pandemic. Investment of around […]

Shell Overseas Holdings Limited, a subsidiary of Shell plc (Shell), has signed an agreement to invest in the Abu Dhabi National Oil Company’s (ADNOC) Ruwais liquefied natural gas (LNG) project in Abu Dhabi through a 10% participating interest. “This investment decision builds on our long-standing partnership with ADNOC,” said Shell’s Chief Executive Officer Wael Sawan. […]

TotalEnergies has signed an agreement to sell to The Prax Group its entire interest in West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant and nearby exploration licenses). The transaction is subject to approval from the relevant authorities. These mature assets currently produce about […]

BW Energy has now concluded the drilling and the logging of the DHIBM-7P pilot well, confirming a substantial oil discovery with good reservoir quality and a material uplift to the Hibiscus area. The Company’s preliminary evaluation indicates an increase in Hibiscus gross recoverable reserves (mid-case) of approximately 8 million barrels of oil to 12 million […]

The Shallow Water Competitive Bidding Round 2023/2024 was launched on October 3rd, 2023 and closed on May 27th, 2024 at 12 noon. Thirteen (13) offshore blocks were placed on offer, namely, Block 1(b), Block 2(ab), Block 2(d), Block 4(c), Block Lower Reverse L, Block Modified U(c), Guayaguayare (Offshore) Block, Block 21, Block 22(a), Block 22(b), […]