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…
Wood Mackenzie presented its view of the role of independent oil and gas companies globally in the keynote session: “The independent oil company – mighty oaks from little acorns grow.” This peer group has been at the forefront of conventional exploration…
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…
Tanzania has become hot property, with BG Group and Statoil eying LNG export from the gas-rich offshore region. Tanzania’s recent rise up the resource rankings has been fast, despite it having taken a long time to reveal its potential reserves…
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…
East Africa-focused exploration firm Aminex is to carry out a new seismic survey offshore Tanzania after being granted an appraisal license. The license, in the Rovuma production sharing agreement (PSA) area, covers the Ntorya-1 discovery well…
ONGC Videsh Ltd. (OVL) and Oil India Ltd. (OIL) have agreed to purchase Videocon Mauritius Energy Ltd.’s 10% share in the Rovuma Area 1 Offshore Block in Mozambique (Area 1) for US $2.47 million. The acquisition will give OVL 60% stake and OIL 40% stake in Area 1…
Aminex has been given extra time to carry out exploration in its licence in Tanzania's offshore Rovuma Basin. Partner in the licence Solo Oil, said the Tanzanian Petroleum Development Corporation had agreed a variation of the terms of…
Anadarko Petroleum encountered high-quality oil at its Phobos-1 deepwater Gulf of Mexico well, the company announced on 25 April 2013. Located in Sigsbee Escarpment in Block 39, the company found 250 net ft of oil in lower tertiary-aged reservoirs…
Anadarko Petroleum encountered approximately 190ft (58m) of net natural gas pay at its Orca-1 discovery well, off Mozambique, the company announced on April 18, 2013. The gas discovery is contained in a Paleocene fan system at Offshore Area 1 in the Rovuma Basin…
Statoil has farmed down a 25% working interest in its operated exploration licence offshore Mozambique to Japanese based INPEX Mozambique, a wholly owned subsidiary of INPEX Corp.The licence, which consists of two blocks, under one licence agreement…
Mozambique puts licensing terms under review Mozambique is in the process of updating its licensing regulations ahead of its 4th Licensing Round. Arsenio Mabote, Chairman, Instituto Nacional de Petroleo (INP, the national oil company of Mozambique)…
As oil and natural gas production continues to fluctuate at a level well below demand, John Mueller looks at New Zealand’s growing need to aggressively explore the nation’s vast and extensive offshore sedimentary basins.Taranaki Basin, located along the west coast of New Zealand’s North Island…
McDermott, Allseas lock subsea pipeline FEEDMozambique mapMcDermott International, Inc. announced that one of its subsidiaries has teamed up with industry leader Allseas to provide a robust project execution strategy for the front-end…
Anadarko Petroleum has taken on a challenging project with the Prosperidade development in Mozambique. But the company plans to draw on lessons from its involvement in Ghanas Jubilee field development to unlock Mozambiques huge gas resources…
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