Ghana plans to introduce a more flexible oil royalties regime as soon as next year to spur investment and reduce risk for energy companies, the head of the state oil sector regulator said on Thursday.Egbert Faibille Jr, CEO of Ghana's Petroleum Commission…
West Africa-focused Tullow Oil on Wednesday trimmed its 2023 production forecast for a second time, mainly due to delays in Jubilee oilfield's southeast extension off Ghana.In September, the London-listed company had reduced the upper end of its production guidance for the year to 58…
Ghana is looking to boost its oil and gas production by selling more exploration rights, aiming to avoid leaving valuable fossil fuels in the ground and generate revenue to fund its energy transition, a Ghanaian official said on Tuesday.The…
Oil and gas company Tullow said Friday that production had started from the Jubilee South East (JSE) Project, offshore Ghana.The first JSE production well has been brought onstream and a further two producers and one water injector are expected…
AFC Equity Investment has agreed to buy Aker Energy, a company working to develop the Pecan oil field offshore Ghana, from Aker Capital and The Resource Group TRG AS.Aker today holds 50.79 percent of the shares in Aker Energy, and TRG holds 49…
Tullow Oil said on Tuesday its Ghana unit filed for arbitration in London over two tax assessments the West Africa-focused oil producer received from local authorities.The tax assessments Tullow disputes amount to $387 million relating to a period from 2010 to 2020…
West Africa-focused oil producer Tullow sees its 2022 free cash flow at $267 million, slightly ahead of previous guidance and up from $245 million the previous year, it said in a trading update on Wednesday. It plans to invest $400 million this year…
Norway's Aker Energy said on Wednesday it would postpone submission of a development plan for its Pecan oilfield off Ghana amid concern the project could face sanctions over the war in Ukraine due to the involvement of Russian oil firm Lukoil…
London-listed oilfield services giant Petrofac has won a contract with the oil firm Tullow Oil to provide operations services for Tullow's Jubilee Development offshore Ghana.Petrofac’s role in the Jubilee development in Ghana – one of the largest…
Oil and gas company Kosmos expects to spend approximately $700 million in capital expenditures in 2022.The company will spend around $400 million of the budget in relation to its base business in Ghana, Equatorial Guinea, and Gulf of Mexico…
Oil and gas companies Tullow Oil and PetroSA have decided to pre-empt the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields offshore Ghana to Kosmos Energy, as announced in October.This doesn’t mean Kosmos will not increase its interests in the said fields…
Ghana's deputy energy minister said on Tuesday that he recognizes the need for an energy transition but still strongly believes that gas will be an important source of energy going forward.Ghana discovered oil in 2007 and began production at the end of 2010…
Oilfield services firm TechnipFMC said Tuesday it had won a 'significant' Engineering, Procurement, Construction, and Installation contract for Tullow's Jubilee South East development, offshore Ghana. For TechnipFMC, a “significant” contract is between $75 million and $250 million…
Exxon Mobil has relinquished its 80% interest in Ghana’s Deepwater Cape Three Points offshore block, a spokesman told Reuters on Thursday.“Exxon Mobil is prioritizing near-term capital spend on the most advantaged assets with the lowest cost…