Nigeria News

 

Nigeria to Auction New Offshore Oil Blocks

Feb 13, 2024

Nigeria will this year open bids for new offshore oil blocks, the second such auction in two years, the head of its petroleum regulator said on Tuesday, as Africa's biggest oil producer seeks to draw more investment into deepwater projects.Nigeria has struggled to increase its oil output…

Esgian Week 6 Report: New Contracts and a New JV

Feb 11, 2024

Esgian has released its Week 6 Rig Analytics Market Roundup saying that several new contracts have been confirmed across three major types of offshore drilling rigs and an interesting new joint venture between an operator and a rig owner has been announced…

Production Starts at Akpo West Field Offshore Nigeria

Feb 07, 2024

TotalEnergies and its partners have started the production from the Akpo West field on the PML2 license in Nigeria.Located 135 kilometers off the coast, Akpo West is tied back to the existing Akpo floating production storage and offloading (FPSO) facility…

Shell’s Profit Drops 30% from Previous Year

Feb 01, 2024

Shell on Thursday reported a 2023 profit of $28 billion, a 30% drop from the previous year's record as energy prices and demand cooled, but still allowing the firm to increase its dividend by 4% and extend share repurchases.The British company's…

Argeo Searcher Set to Sail to Indian Ocean after Shell’s Nigeria Task

Jan 22, 2024

Oslo-listed offshore service company Argeo has informed that its DP2 vessel Argeo Searcher completed the deepwater inspection services at Shell’s Bonga field, and is scheduled to set sail to Indian Ocean for a job with India’s National Centre for Polar and Ocean Research (NCPOR)…

Wison Takes Charge of Pre-FEED for Two FLNGs in Nigeria

Jan 22, 2024

Wison New Energies has been appointed to lead the design validation and preliminary front-end engineering and design (Pre-FEED) for two 3MTPA floating liquefied natural gas (FLNG) units in Nigeria.The agreement covers the design validation and…

Esgian Week 2 Report: New Work Secured

Jan 14, 2024

It was a busy week in the offshore drilling sector as new work was secured by Noble and Valaris rigs, reports Esgian in its Week 2 Rig Analytics Market Roundup.ContractsLLOG has exercised a six-month option for Noble 12,000-ft drillship Noble Valiant in the US GOM…

US Crude Production to Reach Record High in 2024, EIA Says

Jan 09, 2024

U.S. crude production will rise to record highs in 2024 and 2025, but will grow less than it did last year, the U.S. Energy Information Administration (EIA) said on Tuesday.In its Short-Term Energy Outlook (STEO), EIA projected U.S. crude production will rise by 290…

Esgian: New Contracts, Drilling Activities and Rig Moves Across the World

Dec 29, 2023

Esgian's last roundup of the year for the Week 52 puts spotlight on new developments for Dolphin Drilling semisub, Seadrill drillships, as well as Shell’s plans for Australia and ONGC’s new tender for jackups in India.ContractsDolphin Drilling…

Oil Investors to Usher in 2024 Amid Oversupply, Demand Concerns

Dec 14, 2023

Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle East tension that could spark price volatility.Benchmark Brent has averaged around $80 a barrel this year, after a volatile…

Equinor Sells Nigerian Business to Chappal Energies

Nov 29, 2023

Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron…

Angola, Nigeria Target Higher Oil Output Amid OPEC+ Talks

Nov 23, 2023

African members of OPEC+ producer group Angola and Nigeria are aiming for higher oil output, officials told Reuters on Thursday, as the countries are locked in talks with the group about their production quotas for next year.The comments came…

Oil Spill at TotalEnergies' Field Off Nigeria Under Control, Agency Says

Nov 23, 2023

Nigerian authorities are closely monitoring and working to contain an oil spill that occurred during loading operations at the TotalEnergies-operated Egina field on Nov. 15, the maritime agency said on Wednesday.The Nigerian Maritime Administration…

Eni Suspends World Bank Arbitration in Nigeria Offshore Oilfield Dispute - Sources

Nov 20, 2023

Italy's Eni has temporarily halted arbitration regarding an oilfield dispute with the Nigerian government, buying time to discuss a conversion of the license from prospecting to mining, sources with direct knowledge of the matter told Reuters…

Energy-hungry Germany's Scholz Courts Africa as Crises Elsewhere Bite

Oct 27, 2023

German Chancellor Olaf Scholz this weekend makes his third visit to sub-Saharan Africa in two years, as conflicts elsewhere highlight the growing importance of an energy-rich region in which Berlin has traditionally had little involvement.He will visit major energy producer Nigeria…

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