The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organization (APPO) have formally established the Africa Energy Bank (AEB), with $5 billion in authorized capital to finance oil and gas projects across the continent. The two organizations announced the launch at the bank’s inaugural general meeting in Abuja, Nigeria, on Oct. 31. The AEB […]
GNPC Exploration and Production Limited Company (Explorco) has reaffirmed its plan to begin onshore drilling in Ghana’s Voltaian Basin in the fourth quarter of 2026 as it works towards becoming an independent Ghanaian oil and gas operator. The company announced this at its maiden Annual General Meeting (AGM), held at the Accra Marriott Hotel. Speaking […]
Iraqi and Turkish officials discussed investment opportunities for Turkish companies in Kirkuk’s oil and gas sectors on Wednesday, as the two countries seek to expand economic cooperation. A Shafaq News correspondent said the meeting brought together Minister of State for Foreign Affairs and former Kirkuk Governor Mohammed Samaan Agha, First Deputy Governor Rebwar Taha, and […]
Ukraine’s state-owned energy company Naftogaz and the US Department of State have signed a memorandum of cooperation aimed at attracting American investment into Ukraine’s oil and gas sector.The agreement was announced by Serhii Fedorenko on October 28, acting chairman of the board of Naftogaz of Ukraine, in a Facebook post. According to Fedorenko, the memorandum […]
Nabors Industries has signed a multiyear contract to deploy one rig in Venezuela in early 2027, a deployment the company said will mark its return to drilling operations in the country. In Saudi Arabia, the SANAD land drilling joint venture deployed its 17th newbuild rig. One more newbuild is scheduled for deployment this year and […]
Halliburton service, has completed the first deployment of its Remote Operated Control System (ROCS) in Brazil, working with Petrobras. Petrobras used the system to install a subsea smart completion on a deepwater well. ROCS does away with the traditional control umbilicals used during completion operations. That cuts the amount of equipment needed offshore and simplifies […]
Baker Hughes’ Oilfield Services & Equipment (OFSE) segment signed a multi-year contract with Pakistan’s Oil & Gas Development Co. (OGDC) to optimize production and recovery across more than 120 wells in mature oil and gas fields. The work combines Baker Hughes’ subsurface expertise with surface production technologies and digital solutions. Offshore Cyprus, Eni awarded the […]
Italian energy company Eni has completed the sale of its Nigerian subsidiary, Agip Energy and Natural Resources (Nigeria) Limited (AENR), to Apex Global Energy Limited, a subsidiary of Sterling Oil Exploration and Energy Production Company Limited (SEEPCO), as foreign oil firms continue to transfer onshore assets to Nigerian operators. Eni announced the completion of the […]
Italy’s engineering, drilling, and construction services giant Saipem has added new offshore drilling missions to its worksheet through new contracts with compatriot energy heavyweight Eni, which enable it to deploy its fifth-generation ultra-deepwater drillship in the Mediterranean and its sixth-generation semi-submersible floater rig to West Africa. The total value of the two new offshore drilling deals […]
Africa accounted for approximately 96% of Italian energy major Eni’s (BIT:ENI; NYSE:E) net global oil and gas production increase in the third quarter of 2026, as the Italian energy major works to expand offshore developments and liquefied natural gas (LNG) capacity while divesting mature assets. Eni produced 939,000 barrels of oil equivalent per day (boepd) […]