SLB OneSubsea has been awarded an EPC contract by Equinor for a 12-well all-electric subsea production system at the Fram Sør project offshore Norway, the company said on Monday.
Yinson Production has completed the buy-out of the project loan tied to FPSO Atlanta from Brava Energia S.A., paying a total of approximately $257.4 million in cash, including $255.5 million in principal and $1.9 million in accrued interest.
Following its debut at the Guyana Energy Conference and Supply Chain Expo in 2024, MODEC has returned to this year’s event with a stronger resolve to build lasting partnerships in the local energy sector. The company’s Country Manager, Rafael Fumis, took the opportunity on Tuesday to reaffirm the company’s long-term commitment to Guyana while highlighting its ongoing investments in local capacity development.
Trading houses Vitol and Glencore will receive $380 million in compensation after their gas supplier, trading firm Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer for non-delivery of cargoes, court documents seen by Reuters showed.
President John Mahama has revealed that global oil giant Shell has submitted an offer to participate in Ghana’s Pecan Oil Field project, marking a significant step toward advancing the country’s oil and gas sector.
Narrow-azimuth (NAZ) seismic acquired during the first quarter over Jubilee is undergoing processing, with initial results delivering a significant uplift in imaging quality. That should improve further through an ocean-bottom node seismic campaign, planned for later this year. The results should upgrade the velocity model, with a beneficial impact on the NAZ processing.
Eni SPA has launched a production vessel and is readying another as part of the Congo LNG Project, the country’s first natural gas liquefaction project, in the Marine XII concession offshore the Republic of Congo.
“In Ghana we have already taken actions to address the recent underperformance at Jubilee, with further optimisation potential identified. We have recommenced drilling and have successfully completed and brought onstream the first of two planned 2025 production wells at Jubilee, with better than expected net pay during drilling,” said Richard Miller, Chief Financial Officer (CFO) and Interim Chief Executive Officer of Tullow Oil.
The new administration has clearly stated that Ghana’s upstream sector is open for business again. There are significant investment opportunities both offshore and onshore, and the industry is ready for growth. Both existing and new investors are relying on the government to maintain the momentum and secure some gains. Nonetheless, being open for business depends on several key factors.
Madam Hardcastle made the disclosure during a working visit on Friday, August 29, to Zeal Environmental Technologies, a local petroleum services provider, at its Nyankrom plant in the Shama District of the Western Region. She explained that the Petroleum Commission is repositioning Ghana as a competitive investment destination for global oil and gas supermajors, while supporting GNPC to begin operations in the Voltaian Basin.