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Africa exploration deals, projects, and licensing going into 2021

January 13, 2021
| Archives

Following a historic oil price crash triggered by COVID-19, African oil-producing countries are renewing their focus on frontier exploration activities in a bid to yield low-cost, high-return discoveries and offset declining reserves of existing markets, as oil demand slowly recovers. With the International Energy Agency estimating demand of 5.7 billion barrels per day in 2021, the signing

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Premier Oil shareholders vote in favor of Chrysaor merger

January 13, 2021
| Archives

Premier Oil shareholders on Tuesday voted in favor of a reverse takeover of Chrysaor to create the British North Sea’s biggest oil and gas producer. “Shareholder approval for the Transaction has now been received,” said Premier, which will be renamed Harbour Energy but continue its London listing. The deal will create the largest independent oil and gas company

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North America oil and gas pipeline length to be second in the world by 2024

January 12, 2021
| Archives

North America is expected to have the maximum share of the global oil and gas trunk/transmission pipeline length by 2024, representing around 43%. Running for a length of 899 399 km, the region continues to lead global pipeline additions by 2024 with 25 335 km, lagging only behind Asia, says GlobalData, a data and analytics company. GlobalData’s report,

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Total Establishes Scholarship Program for Mozambican Students

January 12, 2021
| Archives

The French government has partnered with Total’s Mozambique LNG project to establish a scholarship program that will allow 40 Mozambican students to attend higher education institutions in France in the upcoming European school year. The program comprises bachelor’s, master’s, and doctorate level courses and is expected to be effective for the next two to three years. Through an

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2021 Key Wells to Watch

January 12, 2021
| Archives

High impact exploration has weathered a perfect storm of a pandemic, an oil price crash and an accelerating energy transition, and enters 2021 with a substantial drilling programme that should at least match 2020. High-impact exploration started well in 2020 with the first quarter seeing the highest number of wells completed since Q4 2014 and commercial success rates

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Angola secures three years of payment relief from China

January 12, 2021
| Archives

Angola has secured three years of payment relief from Chinese creditors and expects to get more than $700 million in its next tranche of International Monetary Fund financing in the coming days, its finance minister said on Monday. Africa’s second-largest oil exporter has been seeking payment relief as it strives to overcome the hit from the coronavirus pandemic,

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Chesapeake Energy worth $5.13 billion on bankruptcy exit

January 12, 2021
| Archives

Chesapeake Energy Corp’s value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer’s trial indicated, and is worth $5.13 billion, far above the shale gas pioneer’s estimate. Creditors have offered sharply different estimates of the firm’s enterprise value during its trial in U.S. bankruptcy court in Houston. Judge David Jones’s figure was

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Saving America’s Energy Future Act

January 11, 2021
| Archives

Texas Congressman August Pfluger has introduced his first piece of legislation, called Saving America's Energy Future Act. The bill which would prohibit the Biden administration from declaring a moratorium on issuing new oil and gas permits for drilling on federal lands was introduced in an effort to protect the oil and gas industry. Congressman Pfluger expressed his concern in

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$4.3 Billion Gas Project for Senegal 2023 with Support from BP and Kosmos

January 11, 2021
| Archives

The Grand Tortue Ahmeyim gas field development, straddling the offshore waters of Mauritania and Senegal, is expected to produce its first gas in 2023 following delays related to the coronavirus pandemic, according to Senegal’s Oil Minister Sophie Gladima. The two countries and international oil companies BP Plc and Kosmos Energy Ltd. are collaborating on the $4.8 billion project

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Borr Fleet Status Update holds Contract, Extension and LOA

January 11, 2021
| Archives

Borr Drilling Limited is pleased to announce in its fleet status report today that it has entered into a new contract, an extension and received an LOA, adding USD 35.1 million over approximately 480 days to the total backlog, with good prospects for additional backlog on these units. The previously announced LOI for the Norve, which is currently warm

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