You are Here

Category: Oil Drilling

International Corporate News Oil Drilling

ReconAfrica Increases Fundraising Target to Advance Namibia Oil Discovery and Regional Exploration

ReconAfrica Raises C$32 Million to Expand Namibia Oil Project and Exploration in Angola and Gabon Reconnaissance Energy Africa Ltd (ReconAfrica), the Canadian-listed oil and gas company, has raised its fundraising target to C$32 million following strong investor demand. The company plans to issue approximately 33.7 million new units at C$0.95 each. Funds from the offering will primarily support ongoing development at the Kavango West 1X oil discovery in northeastern Namibia, preparation for additional drilling, and

Loading

Read More Here

Local News Oil Drilling Petroleum

ExxonMobil Concludes Successful Drilling at Likembe-01 Well Offshore Angola

Energy giant ExxonMobil has wrapped up drilling operations at the Likembe-01 research well located in Block 15 offshore Angola. The drilling, which took place from February to April 2024, has yielded promising results, indicating the presence of high-quality hydrocarbon-bearing sand packages. Situated within the Kizomba B development area, operated by ExxonMobil in collaboration with national oil company Sonangol, Equinor, and Azule Energy, the Likembe-01 well reached a water depth of 3,013 meters. This milestone marks

Loading

Read More Here

International News Oil Drilling

ADES Wins $43M Rig Contract in Egypt

Offshore services company ADES Holding has secured a drilling contract from Egypt’s Suez Oil Company. Under the $42.93 million contract, a jack-up unit will be used for drill works at the Gulf of Suez, with the 21-month term expected to commence in the coming weeks. This latest contract comes on the heels of ADES Holding’s recently awarded campaigns in Qatar and Thailand, set to begin in the second half of 2024. As a result, the services company has

Loading

Read More Here

Local News Oil Drilling

Angola’s Oil Sector Sees Active Drilling Operations in March

In March, the National Petroleum, Gas and Biofuels Agency (ANPG) reported a total of 10 drilling units active in Angola’s oil sector, with significant progress across various operations. The standout performers among the active units were six drill ships: Sonandril West Gemini, Sonangol Libongos, Valaris DS-09, Sonangol Quenguela, Transocean Skyros, and Sapem 12000. Additionally, a Jack Up Shelf Drilling Tenaciou, a Tender SKD Jaya, a Tension Leg Platform TLP-A, and a FALCON HP-1000 land probe

Loading

Read More Here

International News Oil Oil Drilling

Canadas ReconAfrica to Drill Well in Namibia

Canadian oil and gas company Reconnaissance Energy Africa Ltd. (“ReconAfrica”) announced its intention to commence drilling the Naingopo exploration well in Namibia’s Damara Fold Belt in June 2024. Civil work to build access roads and the well pad, as well as the drilling of the water well, has already begun. When these projects are complete., the Jarvie-1 drilling rig will be mobilized to the area onshore in Namibia. In June 2024, ReconAfrica expects to begin drilling operations

Loading

Read More Here