The initial well is being reviewed along with other discoveries in the area for possible joint development.
The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
Canadian oil and gas company Africa Oil Corp. has struck a deal with BTG Oil & Gas and BTG Pactual Holding to consolidate their respective shareholdings in Prime Oil & Gas Coöperatief, an investee company with deepwater assets located offshore Nigeria.
The East African Crude Oil Pipeline (Eacop) project, a daring $5 billion (about R89bn) initiative that seeks to construct a 1 443km oil pipeline on a 30m-wide corridor stretching from the Hoima District, west of Uganda, to the port of Tanga, on Tanzania’s east coast, has been the subject of criticism by environmental and human rights organisations.
Most oil-producing African nations are situated in the continent’s Western, Northern, and Central regions, the Southern and Eastern parts, hence scarcely boast of this precious resource. Save Angola, there is no Southern African nation that produces a significant quota of oil to contribute to the global market. However, the discoveries made in recent years, could ensure that a paradigm shift is would ensue with countries like Namibia taking center stage.
The Chinese oil company, Wing Wah, operates the Banga Kayo conventional oil field, which has drilled some 250 wells to date.
The Republic of Congo aims to increase its hydrocarbon production to 500,000 barrels per day (bpd).
ONGC and Indian Oil Corporation has signed a memorandum of understanding (MoU) to establish a small-scale liquefied natural gas (LNG) plant near the Hatta Gas Field in the Vindhyan Basin
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday.
The total rig count fell by 2 to 588 this week, compared to 682 rigs this same time last year.
The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to Reuters.
According to the Guyana Times, ExxonMobil has started appraisal drilling at its Lau-Lau 2 well site in the prolific Stabroek Block offshore Guyana, where it had previously discovered over 300 ft of oil at the Lau-Lau 1 well. The Maritime Administration Department announced that this appraisal, conducted by the drillship MODU Noble Sam Croft, will run from June 16 to July 31, 2024.