Danish offshore drilling contractor Maersk Drilling is set to mothball several offshore drilling rigs, and as a consequence, reduce the number of offshore workers, citing low oil prices and the impact of COVID-19 pandemic as the reason.'The…
Danish offshore drilling company Maersk Drilling has said it has received early contract termination notices for two of its drilling rigs.Maersk Drilling said Friday that Shell had the contract for the semi-submersible Mærsk Developer 'with immediate effect…
Yinson has completed an $800 million refinancing exercise for FPSO John Agyekum Kufuor, with the loan drawn down on April 14.The FPSO firm had announced the refinancing deal for the FPSO located in Ghana back in November 2019. The company at…
Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…
Oil company Tullow Oil has terminated the drilling contract with Maersk Drilling for the Maersk Venturer drillship in Ghana.Maersk Drilling said Tuesday it had received a notification from Tullow Ghana 'of early termination for convenience of the drilling contract…
Tullow Oil said on Thursday the oil price fall may jeopardize a planned $1 billion in asset sales needed to refill its coffers, raising the risk the group's lenders may become reluctant to approve loans essential to shoring up its future. The…
Africa-focused Tullow Oil expects its free cash flow to slide to $50 million to $75 million this year at an oil price of $50 a barrel, and to break even at prices of $45 a barrel, it said on Thursday. Free cash flow at the group had already fallen last year to $355 million from $411 million in 2018…
Oil and gas company Neptune Energy has informed that Alexandra Thomas has joined the company as UK Managing Director, based in Aberdeen.Thomas joins Neptune from Tullow Oil plc, where she most recently held the position of Head of Exploration…
Amid a raft of February orders and near-orders for floating production storage and offloading vessels, or FPSOs, comes a new report suggesting those shipyards and engineers able to piece them together may soon be feeling the strain.'The strong pace of recent orders has a downside…
Ghana expects Norway's Aker Energy to make a final investment decision in the near future regarding the West African country's planned Pecan oilfield development, Ghana's President Nana Akufo-Addo said on Monday.The government has been frustrated…
Norwegian oil and gas company Aker Energy has signed a letter of intent with Malaysian FPSO provider for the delivery of an FPSO for Aker Energy's Pecan oil field offshore Ghana.Subject to a firm contract signing, Yinson will get the deal for…
Aker Energy, a Norwegian oil company working to develop its Pecan field, offshore Ghana, has hired the Dutch offshore survey specialist Fugro to examine the seabed at the location ahead of the further Pecan infrastructure planning.The Pecan…
Norwegian oil company Aker Energy has named Kadijah Amoah as Country Director for its business in Ghana. The company explained the appointment as part of its strategy to strengthen its local presence and management in Ghana. Aker Energy holds…
Tullow Oil expects to report a $1.5 billion writedown after lowering its long-term oil price assumptions by $10 to $65 a barrel, an announced reduction in reserves in Ghana and disappointing exploration wells, it said on Wednesday.'Tullow expects…
Shares of Tullow Oil dropped by nearly a fifth on Thursday as the oil producer's update on the commercial viability of its new well offshore Guyana disappointed investors.Tullow said the Carapa well in the Kanuku offshore block contains oil…
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