Chevron is currently producing 230,000 barrels of oil per day at the Malongo Oil Field in Cabinda province, significantly down from the 600,000 barrels produced in previous years. This was disclosed by the multinational’s operations director, Gabriel Ivaba, during a visit by Cabinda Governor Suzana de Abreu to assess the company’s operations and production status. Ivaba explained that the production decline is a natural phenomenon common in oil and gas industries. “Our industry is cyclical,
Sirte Oil, a subsidiary of Libya’s National Oil Corporation (NOC), has successfully drilled two horizontal wells in the Zelten and Wadi fields, leveraging advanced real-time reservoir mapping technology. These developments are expected to enhance production capacity by 2,300 barrels per day (BPD), pushing Sirte Oil’s total output beyond the 100,000 BPD milestone. The first well, C355H-6, located in the Zelten field, was completed as part of the initial phase of Sirte Oil’s 2024 exceptional production
Bourbon Logistics, a marine services company, has been awarded a comprehensive logistics contract to support an offshore exploration campaign in Namibia. The six-month contract, granted by a major but undisclosed oil and gas company, involves drilling its first well off southern Namibia’s coast. Bourbon Logistics’ responsibilities encompass the entire supply chain, including freight forwarding, logistics base services, and marine operations. The company will manage international shipments, customs clearance for equipment, and base management services to
Africa Oil Corp. has finalized a farm-down agreement for its interests in offshore Blocks 2912 and 2913B, located off the coast of Namibia. Through its investee company, Impact Oil & Gas, Africa Oil Corp. will sell a 9.39% participating interest in Block 2912 and a 10.5% participating interest in Block 2913B to TotalEnergies for $99 million. Despite the sale, Impact Oil & Gas will retain a 9.5% interest in each block and secure a carry
The Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached a deal to supply Premium Motor Spirit (PMS), also known as petrol, directly to IPMAN for nationwide distribution. This agreement, following prolonged negotiations, was announced by IPMAN President Abubakar Garima during a press conference in Abuja after the Association’s National Working Committee meeting. Garima stated that the partnership would ensure a steady and competitively priced supply of PMS across Nigeria. “After
Ghana’s crude oil production saw a significant rebound in the first half of 2024, rising by 10.7% year-on-year, marking a reversal of a five-year decline, according to the country’s Public Interest and Accountability Committee (PIAC). After peaking in 2010, Ghana’s oil output had been on a steady decline, reaching a five-year low in 2023. This drop was mainly due to reduced production from older fields, which could not offset the growth from new wells, as
The Dangote Refinery is progressing in negotiations with eight African countries to secure fuel supply agreements, according to reports from The Punch. The refinery’s management is in advanced talks with South Africa, Angola, Niger, Chad, Burkina Faso, the Central African Republic, and Namibia to initiate fuel exports. In addition to Premium Motor Spirit (PMS), the refinery has already begun exporting diesel to several African nations, reaching a significant volume of nearly 100,000 barrels per day
TotalEnergies CEO Patrick Pouyanne announced that the company plans to invest billions of dollars in Nigeria by actively participating in the country’s current oil bid round. Pouyanne shared this commitment during a recent visit with Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Gbenga Komolafe, at the commission’s Abuja headquarters. This pledge comes just months after TotalEnergies allocated $6 billion to projects in Angola, citing challenges with Nigeria’s regulatory landscape as a deciding factor for
Ghana’s crude oil production saw a significant 10.7% increase in the first half of 2024, marking a recovery from the 13.2% decline recorded the previous year. This update was shared by Constantine Kudzedzi, Chairman of the Public Interest and Accountability Committee (PIAC), during the presentation of the 2024 Semi-Annual Report on Petroleum Revenue Management and Usage. According to Kudzedzi, the SGN field contributed 20% of Ghana’s total oil production, while the Jubilee and TEN fields
Egypt’s Petroleum and Mineral Resources Minister, Karim Badawi, recently met with Chevron’s International Exploration and Production President, Clay Neff, to discuss Chevron’s activities in Egypt and strategies for boosting production. The meeting highlighted the potential impact of new incentives from Egypt’s Ministry of Petroleum. The discussion covered Chevron’s ongoing negotiations with the Egyptian Natural Gas Holding Company (EGAS) concerning the acquisition of two new concessions. Minister Badawi emphasized the range of investment opportunities available through
