West Africa focused independent African Petroleum is to drop its production sharing contracts for blocks LB-08 and LB-09 after they expired. The PSCs formally expired in June 2016 and since then the firm has been in discussions with Liberian authorities over a possible extension…
Capital investment in the oil and gas industry in Sub-Saharan Africa has been cut by US$100 billion over the next five years, according to Wood Mackenzie's latest report on upstream activity in the region. Major oil companies are heavily…
DMWA Resources, an oil and gas advisory, exploration and production, and trading firm, has begun offering its services on the African continent. The firm will capitalize on the African knowledge and experience of its management, and leverage…
Remaining competitive through the downturn is a tall order for some. Caitlin Shaw, of Quest Offshore Resources, examines how the exploration, drilling and subsea segments are expected to fare through 2017. The…
CGG is to start a multi-client airborne gravity and magnetic survey offshore South Africa this month ahead of a new licensing round expected in the region later this year. The Petroleum Agency of South Africa (PASA) has authorized the program…
Statoil has completed a farm-in transaction with ExxonMobil, acquiring a 35% interest in the ER 12/3/154 Tugela South Exploration Right offshore South Africa. The remaining interests are held by operator ExxonMobil (40%) and co-venturer Impact Africa (25%)…
Galp Energia entered into an agreement with the Government of São Tomé and Príncipe, and Kosmos Energy for the award of Block 6 offshore São Tomé and Príncipe, offshore Africa. Galp Energia will be the operator of the block with 45% interest…
The global capital spending on newbuild and converted floating production storage and offloading (FPSO) vessels could reach US$8.65 billion this year, according to consultancy firm Visiongain. The largest spend will be focused on offshore…
AGR and SP Offshore Energy Services signed a memorandum of understanding (MoU) under which AGR will provide a range of exploration services and the drilling of an ultra deepwater (UDW) well off the Comoros Islands, between Mozambique and the Comoros…
Young Okunna, GlobalData's upstream analyst covering Sub-Saharan Africa reported that the current downturn in oil prices has not slowed down in the region. Although several firms have cut back on their global exploration budgets, the region continues to attract activity…
Oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, according to an analysis on the oil and gas industry in Africa released by PwC today (17 February)…
Effective 1 February 2015, INPEX will have two new changes in general managers. Toru Akutsu, currently the general manager of the exploration & exploitation unit domestic project division, will become the project general manager of the domestic project division…
SeaBird Exploration has signed a letter of intent for use of the Northern Explorer for a 2D seismic survey offshore West Africa. The survey will cover about 1700km and is worth about US$1.3 million. The project is expected to start in February and last two weeks.
Tullow Oil is to “significantly reduce” its 2015 exploration spend and focus on its West African producing assets, including the TEN development project, amid falling oil prices. The move will see Tullow’s investment focus on West Africa…
Eni made a gas and condensates discovery in the Nyonie Deep exploration prospect in block D4, about 13km from the coast of Gabon. ENI estimates initial potential in place is 500MMboe. The discovery was made in the pre-salt of Gabon through the NFW Nyonie Deep 1 well…