Offshore Africa News - page 4


FAR Inks Sangomar Oil Offtake Deal with Glencore

Jan 22, 2020

Australian oil company FAR Ltd. has signed a deal with Glencore, one of the world's largest oil marketers, for the full allocation of Far's share of the future oil production from the Sangomar field offshore Senegal.FAR, which owns a 15% stake in the recently sanctioned…

BW Energy Completes 2nd Producer at Tortue 2 in Gabon

Jan 22, 2020

BW Energy has completed the second production well of the Tortue Phase 2 development, offshore Gabon.'The DTM-5H well marks the completion of the first of two new well clusters on the Tortue field which will be tied back to the FPSO BW Adolo and boost oil output…

BP, Angola in Offshore Oil Agreement

Jan 21, 2020

BP signed an agreement with Angola aimed at acquiring oil further exploration rights, state news agency Angop reported, the latest in a flurry of agreements between oil majors and Africa's second-biggest exporter.The deal with the country's…

Nigeria: Ex-Attorney General Charged in $1.3B Oil Deal Bribery Case

Jan 21, 2020

Nigeria's financial crimes watchdog charged a former attorney general suspected of taking bribes to facilitate a $1.3 billion oil block sale, the agency said on Tuesday, in the latest twist in one of the industry's biggest alleged corruption scandals…

SOFEC to Supply Sangomar FPSO Turret Mooring System

Jan 20, 2020

SOFEC announced it has been awarded a contract from MODEC to supply an external turret mooring system for a floating production, storage and offloading (FPSO) vessel for the Sangomar project offshore Senegal.SOFEC will be responsible for all engineering…

Somalia 'Invites' Turkey to Drill for Oil in Its Waters

Jan 20, 2020

Turkish President Tayyip Erdogan said on Monday that Somalia had invited Turkey to explore for oil in its seas, after Ankara signed a maritime agreement with Libya last year, broadcaster NTV reported. Turkey has been a major source of aid to…

Africa Energy Reveals Total's Luiperd Drilling Timeline

Jan 20, 2020

Following last year's large gas/condensate discovery at Brulpadda well offshore South Africa, French oil major Total is preparing to drill more wells in the vicinity.After the Brulpadda, estimated by Rystad Energy to hold 500 mboe to 600mboe…

FAR Secures $300M Sangomar Loan

Jan 20, 2020

Oil and gas company FAR has secured a $300 million reserve-based loan for its share of the CAPEX for recently sanctioned Sangomar field development, offshore Senegal.“FAR is pleased to announce a binding and committed underwritten US$300 million…

Angola: Eni Brings Agogo Field Online

Jan 17, 2020

Italian oil company Eni has produced first oil from its Agogo field offshore Angola, nine months after discovery.Eni brought the field online via the FPSO Ngoma located 15 kilometers from the oil field. The current output level is around 10…

Eni, Total Win Three Angola Blocks

Jan 16, 2020

Italian oil major Eni and France's Total were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year, the country's petroleum regulator said on Thursday.Eni and Total won operator…

Woodside Signals Higher Output in 2020

Jan 16, 2020

Australia's Woodside Petroleum posted a nearly 7% rise in fourth-quarter production on Thursday and forecast higher output for fiscal 2020, as it steps up work on growth projects in a bid to triple its oil and gas reserves over a decade.The…

Seawave Welcomes Lekoil Scam Probe

Jan 16, 2020

A consultancy firm that allegedly arranged a fraudulent $184 million loan announced by Nigerian oil company Lekoil Ltd said on Wednesday that it welcomed an investigation into the matter.Shares in Lekoil Ltd fell by more than 70% following a…

Major Offshore Project in Senegal Reaches FID

Jan 15, 2020

Senegal could as well be on the way to joining the league of top African oil and gas producers in the next three years after developers of one of the most profound offshore discoveries announced reaching a final investment decision (FID).The Rufisque Offshore…

Petrobras Exits Africa As Nigeria-Focused Business Sold for $1.5B

Jan 15, 2020

Brazilian oil company Petrobras has sold its Nigeria-focused subsidiary for around $1,5 billion.Petrobras said Wednesday it had completed the sale of its 50% equity interest held in Petrobras Oil & Gas B.V.  (PO&GBV).PO&GBV has assets in Nigeria…

BW Energy Oslo Listing Set For 1Q 2020

Jan 15, 2020

BW Offshore's exploration and production subsidiary BW Energy is gearing up for an initial public offering of shares in the first quarter of 2020, and listing on the Oslo exchange an independent company.BW Energy was established by the FPSO…

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