Eni CEO Paolo Scaroni outlined the Italian company’s exploration progress and activities within the country to the President of the Republic of Mozambique Armando Guebuza. Eni announced that the “possibility of enlarging the shareholder base of Area 4 was favorably received by the President…
After nine years with Paolo Scaroni serving at the helm of Italy’s Eni S.p.A., the company’s board of directors appointed his successor: Claudio Descalzi (pictured), chief operating officer of Eni’s Exploration and Production division since 2008…
McDermott International, Inc. announced today that Scott Munro, VP & general manager, North Sea and Africa, will speak at the Offshore Technology Conference (OTC) Industry Briefing on “Offshore and Subsea Solutions in Frontier Regions”, on 8 May…
The National Assembly of the Comoros, a sovereign archipelago island nation east of Mozambiue, Africa, has ratified a production sharing contract with Bahari Resources. The PSC, covering offshore blocks 35, 36, and 37 (previously named blocks A…
ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have completed the acquisition of 10% PI in the Rovuma Area 1 offshore block in Mozambique by acquiring 100% shares of Videocon Mozambique Rovuma 1 Ltd, the company holding the 10% PI in the Area 1 from Videocon Mauritius Energy Ltd…
GE Oil & Gas opens Brazilian logistics base With an area of 590,000sq. ft and investments that exceed US$100 million, GE’s base in Niteroi in the state of Rio de Janeiro was designed primarily to load and unload installer ships. These vessels carry heavy equipment…
Fugro recently opened new offices in Mozambique, and established the only internationally-accredited laboratory in Mozambique. The office is located in the port city of Maputo to enable efficient response to client requirements for offshore…
WGPSN has secured a five year contract extension to provide operations, maintenance and construction management services for asset facilities in central Africa, in a deal worth more than $140 million. The contract employs about 580 people…
With the world economy once again on an upward trajectory, 2014 is likely to see a number of key oil and gas projects rise to the fore. Meanwhile, exploration and production trend towards evermore challenging waters and is anticipated to…
PTTEP and Pertamina signed a 50:50 joint venture to buy Hess' assets off Indonesia for US $1.3 billion. The companies will gain 75% stake in Pangkah field and 23% in the Natuna Sea A field. The Pangkah transaction will be finalized in Q1 2014…
Since the turn of the millennium, global pipeline investment has undergone sustained and, in recent years, robust growth as a result of favorable market conditions and industry trends, including: the continued high levels of investment in offshore development…
All eyes are on Mozambique as significant natural gas finds are set to turn the East African country into a major LNG player, but are oil riches on the horizon? Mozambique’s prolific Rovuma basin holds 12 offshore discoveries within a 50km radius…
Wood Mackenzie has predicted upstream investment in East Africa will reach US$7 billion by 2018. Martin Kelly, head of Sub Sahara Africa upstream research for Wood Mackenzie, told delegates at the East Africa Oil and Gas Conference today…
Eni has made a new high impact discovery at Agulha exploration prospect, in Area 4, offshore Mozambique.The discovery opens a new exploration play in the southern part of Area 4. Preliminary estimates show that the Agulha structure could contain 5 to 7 Trillion cu ft of gas in place…
Ghohta discovery Lundin Petroleum made an oil discovery on the Ghohta prospect in exploration licence PL492 in the Barents Sea. The well, 7120/1-3, 35km northwest of Snøhvit field, found a 75m oil column in Permian carbonates. Statoil…
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