“This growth will be driven by a major upgrade of our exploration and production services, enhanced execution capacity, and the acquisition of seven brand-new rigs to accelerate and improve production efficiency,” the chief technical officer of Sahara Group’s energy business, Asharami Energy, said at an industry event in Cape Town.
On the back of its multi-year licensing round launched in 2019, Angola is positioned to award 60 concessions by the end of 2025. Speaking at African Energy Week, Alcides Andrade, Executive Administrator at the National Oil, Gas & Biofuels Agency (ANPG), explained that the country has already reached its target of awarding 50 concessions through its annual licensing drive and direct negotiation program and is now pursuing additional licenses to drive production.
The National Oil Corporation of Libya said that the Italian supermajor had started drilling at Block 16/4 in the northwestern part of the country’s territorial waters and will soon complete work on the exploration well that was started back in 2020.
The North Cleopatra block lies in the frontier Herodotus basin in the Mediterranean Sea, and covers more than 3,400 square kilometres in water depths reaching 2,600 metres. Following the transaction, which is subject to approval by the Egyptian government, Shell will retain a 36% operating interest in the block, with Chevron holding 27% and Egypt’s Tharwa Petroleum Company holding 10%.
EIG Global Energy Partners’ MidOcean Energy said it has entered into definitive agreements to invest in Petroliam Nasional Bhd’s (Petronas) Canadian businesses, including by acquiring a stake in the recently fired up LNG Canada.
The 100% BP‑owned project will include a floating production platform with capacity to produce 80,000 barrels of oil per day, linked to six wells in the Tiber field and a two‑well tieback from the Guadalupe field.
The Ghana Upstream Petroleum Chamber is a non-profit upstream petroleum organisation which aims to achieve long term success of the upstream petroleum industry in Ghana.