Continental group the African Petroleum Producers Organization (APPO), in collaboration with multilateral financial institution the African Export-Import Bank (Afreximbank) has signed the requisite documents for the establishment of the Africa Energy Bank – an institution set up to facilitate, promote and finance the development of oil, gas and energy industries in Africa. The signing ceremony was held in Cairo on Monday June 3 and marked the official creation of the institution.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that four International Oil Companies (IOCs) are planning to divest from 26 oil blocks in Nigeria. These IOCs, including Nigerian Agip Oil Company, ExxonMobil, EQUINOR, and Shell Petroleum Development Company, aim to transfer the ownership of these blocks to local firms. This move is expected to significantly enhance national oil production and provide substantial benefits to various stakeholders in the energy sector.
Block 58 is adjacent to ExxonMobil’s Stabroek block in Guyana, a site with more than 11 billion barrels (bbbl) of recoverable oil and gas.
Aker Solutions has secured a ‘sizeable’ long-term frame agreement with Azule Energy to provide engineering, procurement, and construction (EPC) services for brownfield projects and modifications for two floating production, storage, and offloading (FPSO) units in Angola.
Chief Executive Officer of Kenyon International, Dr Victor Ekpenyong, has stated that Nigeria has the potential to increase its oil production and meet local refining needs by tapping into its idle brownfields.
The Aramco US$12 billion share sale sold out shortly after the deal opened.
Aramco’s share sale comes at a time when oil prices remain depressed mainly due to concerns about weak global demand.
Details of the split between local and foreign investors in the offering are yet to emerge.
Ricardo Do Amaral, general manager of Octomar, talks to The Energy Year about the company’s assistance to operators developing their assets and its projects with the Angolan Ministry of Environment. Octomar is an Angolan diving and marine services company offering a variety of offshore tanker terminal and FPSO support services, as well as marine and subsea services and vessels.
The FPSO vessel that will be the centrepiece of BP’s Greater Tortue Ahmeyim (GTA) Phase 1 LNG development has arrived at its destination on the maritime border between Mauritania and Senegal, BP announced on Tuesday.
Equinor has agreed to sell a 19.5% interest in two Norwegian production licences to PGNiG Upstream Norway.
The Nigerian National Petroleum Company (NNPC) is set to begin oil exploration in Ogun state This will mean more crude oil production for Nigeria and also help increase federal government revenue The governor of Ogun state is excited and has stressed the importance of NNPC’s decision to search for oil in the state.