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.
Ukrainian President Volodymyr Zelenskiy vowed on Sunday to retaliate by ordering more strikes deep inside Russia after Russian drone attacks on power facilities in northern and southern Ukraine. Both countries have intensified airstrikes in recent weeks, targeting energy infrastructure and disrupting Russian oil exports.
Signed by state-owned Egyptian Natural Gas Holding Company (EGAS), the deals call for the drilling of 10 wells in onshore and offshore areas as part of efforts to ramp up upstream activity. Egypt has been facing output declines due to field depletion and delays in production investment plans.
Seatrium is a Singapore-based global solutions provider specialising in engineering, procurement, construction, upgrading and repair of offshore and marine assets. It has extensive capabilities in LNG systems and floating energy solutions, including dual-fuel and LNG-powered vessels.