Oil & Gas

Eni sees condensate production increase art Zohr field off Egypt

Apr 26, 2019

Condensate production from Zohr field increased by 14.29% due to the increase in the field’s natural gas output, reaching around 4,000 tons per day compared to 3,500 tons per day in 2018, a source at the oil and gas sector told Al Borsa Newspaper. The field’s sulfur production doubled to reach 50 tons per day compared…

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Anadarko finalizes further gas offtake deals for LNG project in Mozambique

Apr 26, 2019

U.S. oil and gas company Anadarko is in talks to finalize further gas sales deals from its soon to be sanctioned Mozambique LNG project, aimed at developing offshore gas fields in the Offshore Area 1. Anadarko, a takeover target of Oxy and Chevron, has so far announced Sale and Purchase Agreements (SPAs) totaling more than 9.5…

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Sonatrach, Eni agree to renew Italy’s Algerian gas supply contract

Apr 26, 2019

National oil and gas company Sonatrach signed Thursday with the Italian energy group ENI a memorandum of understanding (MoU) on the renewal of Italy’s Algerian gas supply contract, to expire late 2019. Sonatrach’s CEO, Rachid Hachichi, and Italian ENI’s, Claudio Descalzi, have signed a “memorandum of understanding (MoU) confirming their will to renew, soon, the…

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Tullow sees lower oil output in Q1 over Ghana issues

Apr 26, 2019

Oil and gas company Tullow Oil’s output during the first quarter of the year was below expectations due to issues on its operated fields located offshore Ghana. As a result, Tullow has lowered its 2019 production forecast range. In an operational update on Thursday Tullow said that its working interest production for the first quarter…

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Namibia’s Namcor pays N$2,2m into wrong account

Apr 26, 2019

THE National Petroleum Corporation of Namibia (Namcor) was left with egg on its face after paying N$2,2 million meant for a Malaysian supplier into a wrong account in Estonia late last year. Namcor managing director Immanuel Mulunga confirmed yesterday that the money meant for Hyrax Oil which won a N$2,2 million (US$172 000) tender to…

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Uganda’s NEMA grants ESIA certificate for Tilenga oil development project

Apr 26, 2019

After months of review and consultations, the National Environment Management Authority (NEMA) granted Certificate of Approval for the Environmental and Social Impact Assessment (ESIA) process for the TILENGA Oil development project in Nwoya and Buliisa districts. This paves way for the oil companies to proceed with other vital steps towards making of the Final investment…

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Maersk Supply secures FPSO mooring job in Gulf of Guinea

Apr 25, 2019

Maersk Supply Service has been chosen to deliver an integrated FPSO mooring installation and replacement solution for an American oil major in the Gulf of Guinea. Maersk Supply Service will provide the full work scope from project management to execution. Responsibilities undertaken as part of the project include engineering, procurement, transportation of mooring equipment, safety…

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ExxonMobil acquires more exploration acreage off Namibia

Apr 25, 2019

ExxonMobil will increase its exploration acreage in Namibia with the addition of approx. 7 million net acres (28,000 sq kms) following the signing of an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (NAMCOR) for Blocks 1710 and 1810, and farm-in agreements with NAMCOR for Blocks 1711 and 1811A. Adds approx. 7 million net acres in four…

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Sonangol yields $2.8bn in first quarter

Apr 25, 2019

Angola’s State-owned oil company Sonangol has announced that it generated USD 2.8 billion in the first quarter of 2019, with the sale of 45.1 million barrels of oil at the average price of USD 63,131. The data were released by the company’s chairperson of Executive Committee for International Marketing, Luis Manuel, who cited a revenue…

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Angolan Petroleum Minister strategizes on gas monetization

Apr 25, 2019

In a recent interview with Petroleum Africa, Angola’s Minister of Petroleum, Dr. Diamantino Azevedo, discussed gas monetization in the southern African country. According to H.E. Azevedo, over the years Angola had previously somewhat missed out on the opportunity that its natural gas resource offers. “The country currently produces about 3 billion cubic feet a day of…

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