Dana Gas, a prominent UAE-based company, is preparing to commence drilling operations on 11 new wells in Egypt this year with an investment of approximately $100 million, according to a senior company official. Mohammed Mubaideen, the head of investor relations at Dana Gas, revealed that the investment is expected to contribute around 80 billion cubic feet of reserves and production. His statements were published in a report by Asharq Business. Currently, Dana Gas holds four
State-owned Kuwait Oil Co (KOC) has announced plans to award 22 projects to local and foreign firms in the next few months, Zawya Projects reported, citing the Arabic language daily Alanba. KOC, which manages the OPEC member’s upstream oil industry, will gradually award those contracts after they are approved by the Central Agency for Public Tenders. The projects include installation of pipelines at KOC’s facilities in West Kuwait, providing maintenance services at KOC’s export terminals, building pipelines at Jurassic
Global oil and gas major TotalEnergies has renewed its production license for the OML 130 block offshore Nigeria with an additional 20 years. Commenting on the development, Henri-Max Ndong-Nzue, Senior Vice President Africa, Exploration and Production at TotalEnergies, said the renewal of the license will enable the firm to improve its contribution towards the development of the West African country’s hydrocarbons resources for energy security, economic growth and energy poverty alleviation. “This 20-year extension will enable us
Natural gas prices in Europe are likely to plummet further on lackluster demand from power generation and industry.” This downward trend has led traders and industry officials to consider the possibility of day-ahead prices dipping below zero in some European markets during the summer, according to a report by Oilprice. According to the report, several factors have contributed to this situation, including abundant inventories after a mild winter, consistent imports of liquefied natural gas (LNG),
Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), according to media reports. This milestone makes Cairn Oil & Gas the largest private oil and gas company in India. The company has identified 20 new development projects to bring a significant portion of its resources into production within the country. The
Adonis Pouroulis, CEO of Chariot, unpacked the reasons why Mauritania is an ideal location for green hydrogen production, the benefits of the partnership with Total Eren for the project, Chariot’s plans to contribute to the local community, and the challenges associated with scaling up production. What factors contribute to Mauritania being regarded as a favorable jurisdiction for the production of green hydrogen? Mauritania is one of the best jurisdictions to produce green hydrogen. The country
As the primary driver of its economy, the local content regime for the oil and gas sector in Angola is heavily dependent on a robust and efficient financial sector. Exploration and production (E&P) of the country’s oil and gas resources have set the stage for a strong economic outlook for Angola, with the country’s GDP projected to grow 5% between 2023 and 2026. As such, domestic financiers and insurers have called for increased synergy between
Mauritania, under the leadership of Minister of Petroleum, Mines, and Energy Abdessalam Mohamed Saleh, has set forth plans for hydrogen projects that could potentially generate an impressive 80 GW of electrolyser capacity. This pipeline is being planned by several renowned companies, including CWP, Chariot, bp, Conjuncta, and Infinity, and while the aspirations for Mauritania to become a green hydrogen hub are significant, two main challenges lie ahead: financing and building the required infrastructure. As such,
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has announced the introduction of six new regulations derived from the Petroleum Industry Act 2021 in Nigeria. These regulations aim to promote sustainable growth in the midstream and downstream sectors of the oil and gas industry, providing clarity for industry operators and regulators. The new regulations are designed to facilitate industry expansion, economic development, and prosperity. They cover various aspects, including midstream and downstream operations,
With as many as 12 licensing rounds expected to close in West Africa in the coming months, interest from international oil companies (IOC) is expected to bring significant investment into the region’s exploration and development sectors. Following the recent discoveries of sizeable oil and gas plays throughout the continent, new licensing rounds are expected to position West Africa as a frontier exploration hub and usher in a new era of industry growth, energy security and
