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Local Gas News Oil

Ocean Installer Consortium Secures Contract for Angolan FPSO Work

A consortium comprising maritime construction firm Ocean Installer and engineering company Oceaneering has won a contract for work on the Girassol Life Extension (GIR FLEX) project in Angola. Awarded by French multinational TotalEnergies and its partners for Block 17, the contract will extend the production lifecycle of the project to 2031. Ocean Installer will handle transportation and installation services for GIR FLEX, encompassing the recovery of old risers, transportation, and installation of 10 new risers,

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International News Oil

Impact Oil Signs Strategic Farmout Agreement with TotalEnergies for Namibian Blocks

Impact Oil has signed a farmout agreement with TotalEnergies EP Namibia to sell 9,39% undivided interest in Block 2912 and 10,5% in Block 2913B in the Orange Basin. Block 2912 is under PEL 91 and 2913B is under PEL 56. Impact Oil’s wholly-owned subsidiary Impact Oil and Gas Namibia (Pty) Ltd and TotalEnergies SE’s subsidiary TotalEnergies Namibia BV signed the agreement. The transaction includes a full carry-on Impact’s retained interest for all joint venture costs,

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International News Oil Petroleum

Nigeria’s Dangote refinery prepares for test runs after sixth crude delivery

Nigeria’s Dangote oil refinery might kick off test runs this week after receiving its sixth crude cargo on Monday, following years of construction delays. The arrival of the sixth crude cargo from the Agbami field in the Niger Delta brings the total crude stock received at the facility to six million barrels of oil, the required amount to bring the 650,000 barrels per day (bpd) facility to life. The refinery’s operation is expected to turn

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Petroleum News Oil

TotalEnergies arrive in Uganda for audit of the highly controversial Eacop project

The French oil conglomerate TotalEnergies recently disclosed that it had begun a new phase in a project that has become a bone of contention globally. The oil giants said on Thursday that they had initiated a land acquisition assessment for the East African Crude Oil Pipeline (Eacop). The project since its launch has been the subject of a heated dispute between environmentalists and its primary stakeholders. “This mission will evaluate the land acquisition procedures implemented,

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International Energy News Oil

Namibia: Positive Signs from Galp’s Mopane-1X Well

Portuguese multinational energy corporation Galp could be nearing a hydrocarbon discovery at its Mopane-1X exploration well in Namibia’s Orange Basin, according to a company report issued on Monday. Galp currently holds two exploration licenses in Namibia’s offshore: PEL 82 in the Walvis Basin and PEL 83 in the Orange Basin. Last May, the company secured the Hercules semi-submersible rig for a two-well contract plus optional well testing in PEL 83, with drilling starting last November. “The

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Local News Oil Petroleum

Angola’s OPEC Exit Redefines Global Oil Dynamics

Angola has recently decided to exit the Organization of the Petroleum Exporting Countries (OPEC), effective January 1, 2024, marking a pivotal shift in the global oil industry. This move, akin to Ecuador’s departure in 2020 and Qatar’s exit in 2019, heralds significant changes in the geopolitical landscape of oil production and distribution. Angola’s relationship with OPEC traces back to its membership in 2007, joining the organization’s efforts to regulate and coordinate oil production for stable

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Local News Oil

Angola exported more oil in December

OPEC oil production increased in December, when Angola set January 1st as the date to leave the organization and, at the same time as Nigeria and Iraq, increased exports, providing the market with an offer that offset the effect of the cuts. from Saudi Arabia and OPEC+ allies to support the market. A survey published last week disclosing this information indicates that the Organization of Petroleum Exporting Countries produced 27.88 million barrels per day (bpd)

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Gas International News Oil

Africa’s leading oil independent secures major stake in Mozambique’s Mazenga gas block

Africa’s largest oil independent, Aiteo, has marked a significant expansion in its global energy portfolio by acquiring a major stake in the Mazenga gas block, the largest onshore gas reserve in Africa, situated in Mozambique. The strategic acquisition was made possible through a series of agreements with Mozambique’s State oil firm, Empresa Nacional de Hidrocarbonetos (ENH), effectively positioning Aiteo as the new operator of the block. The Mazenga gas block, located in Mozambique’s prolific sedimentary

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International News Oil

Dangote refinery receives fourth 1 million crude supply from NNPCL

The Nigerian National Petroleum Corporation Limited (NNPCL) has supplied an additional one million barrels of crude oil to the Dangote Refinery to commence production. This delivery marks the fourth consecutive shipment of one million barrels of crude oil to the Dangote Refinery in recent weeks. The refinery is expected to receive a total of six million barrels of crude oil before it begins production. What Dangote refinery said:“Preparations are in top gear for the commencement

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Local News Oil

ETU Energias Increases Stake in Block 17

Oil company ETU Energias S.A. finalized the acquisition of a 2.5 percent stake in the Thai company PTTEP in Block 17/06 offshore Angola. According to a statement from Etu Energias S.A, formerly known as Somoil – Sociedade Petrolífera Angolana S.A., quoted by Lusa, the process began in December 2022 as part of their growth strategy, with the signing of the purchase and sale contract for the mentioned stake, the value of which was not disclosed

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