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…
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…
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…
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…
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…
Eni S.p.A. CEO Paolo Scaroni and Eni E&P COO Claudio Descalzi met with Mozambique President Armando Guebuza today in Changara, the mineral district of Tete province in western Mozambique, to discuss Eni’s ongoing activities and projects in the country…
Bristow Group has secured a number of new multi-year contracts for offshore oil and gas services across Europe and in other established and emerging markets. In total, the contracts are for 12 large and three medium helicopters, expected to generate up to US$850 million in revenue…
Eni has made a new high impact discovery at Agulha exploration prospect, in Area 4, offshore Mozambique.The discovery opens a new exploration play in the southern part of Area 4. Preliminary estimates show that the Agulha structure could contain 5 to 7 Trillion cu ft of gas in place…
UK Trade & Investment presented a varied session on petroleum investment opportunities in East and West Africa today, focusing on Kenya, Tanzania, Uganda, Mozambique, and Ghana. Mrs. Wanjiku Manyara, general manager of the Petroleum Institute of East Africa…
Indian energy firm ONGC Videsh Limited (OVL) has agreed to buy a 10% stake in the Rovuma Area 1 block, offshore Mozambique, from Anadarko, for US$ 2,640 million. Area 1 covers about 2.6 million acres in the deepwater Rovuma Basin and…
Jaya Holdings signed a contract to charter its new build DP2 Platform Supply Vessel (PSV) “Jaya Vigilant” for a long term operation in the Indian Ocean, offshore Mozambique. The two-year contract, which includes charterer’s options has a value of more than US $20 million…
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