Chevron Corp., Houston, could increase its exploration capital budget by more than $500 million in 2027 as executives look to capitalize on strong commodity markets and build on an organizational shuffle that has centralized and accelerated decision-making. Speaking after Chevron reported its third-quarter results, vice-chairman Mark Nelson told analysts that the company’s opportunities globally are […]
TotalEnergies has signed a farm-out agreement to sell a 40% participating interest in offshore block OPL257, Nigeria, to South Atlantic Petroleum Ltd. (SAPETRO). The deal sets up an appraisal campaign on the Egina South field, which TotalEnergies plans to develop as a tie-back to its Egina FPSO. Once the transaction closes, TotalEnergies will hold a […]
TotalEnergies has completed the sale of its 10% non-operated interest in the Renaissance joint venture licenses onshore and in the shallow waters of Nigeria, formerly the Shell-operated SPDC joint venture, to Vaaris for $800 million, while keeping its full economic interest in the venture’s three main gas licenses. The sale was made by TotalEnergies EP […]
Aquaterra Energy has finished the first phase of a fast-track offshore platform project in Nigeria for Emadeb Energy, an indigenous Nigerian oil and gas company. Within six months, Aquaterra designed and fabricated a subsea template so drilling can begin while the rest of the platform is still being built. Aquaterra is delivering a conductor-supported platform […]
Nigeria must urgently ramp up exploration in frontier and mature basins to replace fast-depleting reserves and secure its production future, President of the Nigerian Association of Petroleum Explorationists [NAPE], Mrs. Cecilia Ajayi, has warned Ajayi raised the alarm while speaking at a high level strategic panel session at the 2026 NAEC Energy Conference, organized by […]
The Office of the National Security Adviser has unveiled a new operational framework to coordinate security agencies, private surveillance contractors and other stakeholders in Nigeria’s oil and gas industry, following the recovery of more than 2.4 million barrels of stolen crude oil. The framework, known as the Standard Operating Procedure for the Nigerian Oil and […]
Nigeria’s two petroleum regulators have announced upcoming licensing rounds within days of each other, together covering the full length of the country’s oil and gas sector. The Upstream Petroleum Regulatory Commission (NUPRC) formally opened its 2026 licensing round on October 6, offering 40 oil and gas blocks across onshore, shallow-water and deepwater terrain to local […]
The Nigerian National Petroleum Company Limited committed N473.8bn to gas infrastructure projects, including the proposed Nigeria-Morocco Gas Pipeline, in 2025, while N25.7bn in interest on the facility remained outstanding at the end of the year. The funding, provided to its wholly owned subsidiary, NNPC Gas Infrastructure Company Limited, was intended to meet cash call obligations […]
TotalEnergies (40%, operator), together with its partner AMNI (60%), have taken the Final Investment Decision (FID) for the development of the Ima gas field, straddling the OML 112 and 117 offshore licenses in Nigeria. Located in shallow waters close to Bonny Island, the Ima gas field will be developed with a single platform, connected through […]
A high-powered delegation from the Republic of Congo, has visited Nigeria, to study the Nigerian Content Development and Monitoring Board (NCDMB’s) institutional structure and strategies for developing indigenous capacity in the oil and gas industry. The delegation, comprising officials from the Ministry of Hydrocarbons and other senior government officials from Republic of Congo, which visited […]