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Savannah Energy in talks to buy Exxon Chad, Cameroon stakes

June 2, 2021
| Archives

Africa focused Savannah Energy and Exxon Mobil Corp are in exclusive talks over the sale of Exxon’s interest in energy assets in Chad and Cameroon, the companies said on Wednesday. The British oil and gas producer is proposing to buy a 40% operated interest in the Doba oil project in Chad, and a 40% interest in the Chad-Cameroon

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Seadrill lands 18 month contract for the West Neptune in the GOM

June 2, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that LLOG has secured the ultra-deepwater drillship West Neptune for an 18-month drilling campaign in the US Gulf of Mexico. The contract is believed to begin in Q4 2021 and includes the drilling of 6 wells and includes three 1-well options

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Seadrill line up 5 rigs for scrapping

June 2, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that current market reports indicate that Seadrill is to scrap five of its stacked rigs, including four semisubs and one drillship. It is understood that the units will all be sent to the Rota shipyard in Turkey where they will be

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KCA Deutag awarded $550 million in drilling contracts

June 2, 2021
| Archives

KCA Deutag has secured a contract award and two contract extensions for platform drilling services in Russia, UK and the Norwegian North Sea. The combined value of these awards is approximately US $550M and will account for thirteen years of contract backlog. KCA Deutag’s Offshore division secured a five-year contract, with a further 2x2 year extension option, with a

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Valaris lands contract for DS12 with Total

June 2, 2021
| Archives

Valaris Limited announced that it has been awarded a one-well contract with Total E&P Côte d'Ivoire B.V. offshore Ivory Coast for drillship, VALARIS DS-12. The contract is expected to commence in the third quarter of 2021. Source: Valaris Join our mailing list here

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Velesto issues notice of abandonment for Naga 7

June 1, 2021
| Archives

Naga 7 remains submerged off the coast of Sarawak after the incident on May 3. The incident area is secured while the Group is working with the insurance underwriters and Protection & Indemnity (P&I) Club on the way forward. The rig and other related liabilities are adequately covered under the Hull & Machinery insurance and the P&I

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Aker Energy looking to sell 50% of Ghana deepwater prospect

June 1, 2021
| Archives

Aker Energy is looking to sell part of its 50% participating interest in the Deepwater Tano Cape Three Points (DWT/CTP) block in Ghana, which includes the Pecan development project. After being hit by the COVID-19 pandemic, the Norwegian operator has struggled to come up with funding for the Pecan development. Aker Energy’s interest to fast track the development

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Unlike IEA, Rystad Energy sees need for hundreds of new oilfields

June 1, 2021
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Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Rystad Energy said on Friday. Its analysis stands in sharp contrast to the conclusions of the International Energy Agency (IEA), which said last week that investors should not

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Equinor and ExxonMobil proceed with $8 billion Brazilian field development

June 1, 2021
| Archives

Equinor, ExxonMobil and Petrogal Brasil said on Tuesday they would proceed with an $8 billion development of Brazil's Bacalhau oil discovery. First oil from the field, which will be operated by Norway's Equinor, is expected in 2024, with output set to reach 220,000 barrels per day, the companies said in a joint statement. "Estimated recoverable reserves for the first phase

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Exxon pulls out of Ghana deepwater project

June 1, 2021
| Archives

Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. The company relinquished the entirety of its stake in the Deepwater Cape Three Points block and resigned as its operator after fulfilling its contractual obligations during the

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