The Nigeria Upstream Petroleum Regulatory Commission has said that about 1,068 oil and gas projects approved between 2022 and 2023 that are currently ongoing across the country are to attract a total of $22.8bn.
Canada’s Africa Oil Corp now says its earlier announced plans to pull out of Kenya’s Turkana oil project have hit fresh headwinds following delayed State approvals.
Gasoline may face a dwindling future if everybody starts driving electric cars. But the oil and gas industry has a backup plan for keeping its fortunes alive — the lucrative chemicals that can be made from petroleum.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it projects to attract about $17.64 billion investment inflow from 51 field development plan which it approved in 2022 and 2023.
In a bid to increase the nation’s revenue base, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has projected an investment inflow of about $17.67 billion into the upstream petroleum sector with expected cumulative 2.12 billion barrels of oil and 13.13 Trillion Cubic Feet (TCF) of gas production in the next five years.
LONDON-Oil prices pulled back on Wednesday as the prospect of delays to U.S. interest rate cuts and a jump in U.S. crude stocks that trounced expectations offset a boost from a potential extension to OPEC+ supply curbs.
Seatrium has reached in-principle settlement agreements with the Brazilian authorities concerning “Operation Car Wash”, a probe into allegations of bribes to secure contracts in the country’s offshore energy sector.
Africa Oil Corp (TSX:AOI) swung to a profit for the full year 2023 driven by income from its joint venture Prime Oil & Gas Coöperatief U.A.
Major international oil companies (IOCs) are reaffirming their dedication to the development of African oil and gas resources, signaling positive prospects for service providers, drilling contractors, and the wider industry. During a recent event in Nigeria, top representatives from TotalEnergies, Shell, and Chevron disclosed substantial investment plans, spanning from pioneering exploration endeavors to facilitating gas supply from mature markets. With the Invest in African Energy (IAE) forum scheduled for May in Paris, there exists a prime opportunity for investors to capitalize on this renewed commitment to advancing Africa’s energy sector.
SLB (NYSE: SLB) today announced a significant step toward fully autonomous drilling operations at Equinor’s Brazilian Peregrino C platform. SLB digital technologies for surface automation, autonomous on-bottom drilling, and directional drilling were combined to enable 99% of a 2.6-kilometer section to be drilled in autonomous control mode. Over a five-well program, a 60% increase in rate of penetration was achieved, resulting in faster well delivery while reducing cost and carbon emissions.