If you and a partner invest in a boat and decide to split profits equally, you will feel cheated if her share is much greater than 50%.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a new initiative, AfriPERF, to fast-track the utilisation of Africa’s vast petroleum resources, which are estimated at 620 trillion cubic feet (Tcf) of natural gas and 125 billion barrels of crude oil.
Vår Energi ASA has reported a successful discovery at its operated Cerisa exploration well in production license PL 636 offshore Norway.
Saudi Aramco, the world’s largest oil exporting company, has awarded contracts exceeding $25 billion to advance its strategic gas expansion plan, which aims to increase sales gas production by more than 60 per cent by 2030, compared to 2021 levels.
Petroleum Nasional Bhd (Petronas) has signed a small field asset (SFA) production sharing contract (PSC) with Vestigo Petroleum Sdn Bhd for a discovered resource opportunity cluster marketed under the Malaysia Bid Round Plus (MBR+).
Africa Energy Corp. (TSXV: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that CNR International (South Africa) Limited (“CNR”) has provided notice to the joint venture partners that it will withdraw from its 20% interest in accordance with the joint operating agreement in respect of Block 11B/12B, Offshore the Republic of South Africa (“JOA”).
John Kobina Abam Aboah Sanie (right), Deputy Minister of Energy, in a discussion with Adama Gaye (2nd from left), Former ECOWAS Communications Director, and Gilbert Da Costa (left), Chief Executive Officer, Offshore Africa Magazine, at the summit. Picture
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in partnership with industry operators and service providers have analysed ways to harness Nigeria’s 1.6 billion heavy crude oil reserves, out of which it said only 5% is currently developed.
The company has discovered gross recoverable hydrocarbons of up to 39 million barrels of oil equivalent (mboe) in the North Sea.
SLB OneSubsea has won a contract to provide FEED for Equinor’s all-electric subsea project at a field offshore Norway, the SLB-Aker joint venture said on Thursday.