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Silwana Diamond to explore offshore Guinea-Bissau

July 28, 2021
| Archives

The UAE firm Silwana Diamond has executed an agreement with ADA Energy in Guinea-Bissau to extract three billion barrels of oil. The Silwana Diamond Group has announced the execution of a strategic concession agreement for oil exploration with ADA Energy, located in the Guinea-Bissau and acting as a representative of the National Petroleum Corporation ‘Petrojeen’. The agreement grants

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ReconAfrica completes acquisition of Renaissance Energy

July 28, 2021
| Archives

Reconnaissance Energy Africa Ltd. and Renaissance Oil Corp. are pleased to announce that they have completed the previously announced (on each of April 19, May 19, July 15 and July 26) acquisition by ReconAfrica of Renaissance by way of plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement") effective at 12:01 a.m. (Vancouver time) on July 27, 2021. ---- April 19, 2021 Announcement Pursuant to the LOI,

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Oil Search shrugs of USD$ 6.5 billion Santos takeover bid

July 27, 2021
| Archives

Oil Search rejected an unsolicited takeover proposal from Santos Ltd valuing the Papua New Guinea-focused oil and gas producer at A$8.8 billion ($6.5 billion), but both companies said they wanted to pursue further talks. Oil Search said the offer was not in the best interests of shareholders, but its shares rose 8% after both companies said it made sense to

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Nigeria seeks funding for pipeline after China backs out

July 27, 2021
| Archives

The Nigerian National Petroleum Corporation (NNPC), through the federal government, is seeking US$1bn with an aim to continue work on the US$2.8bn Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, after Chinese lenders, which had pledged to provide the majority of the funds, failed to disburse cash as timely as expected. NNPC, which was funding 15% of the project, said last

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ReconAfrica completes second well in Kavingo Basin

July 27, 2021
| Archives

Canadian oil and gas company, Reconnaissance Energy Africa Ltd. (ReconAfrica) and its joint venture partner, Namibia’s state-owned oil company Namcor, have successfully completed drilling operations on the 6-1 well in the Kavango Basin, its second stratigraphic test well in Namibia. In an announcement made on 14 July, Namcor reported that the 6-1 well is being prepared for wireline

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Dana Gas wins arbitration

July 27, 2021
| Archives

Dana Gas, the Middle East’s largest regional private sector natural gas company, has received an award in its favor dated 19 July 2021 from the London Court of Arbitration ('LCIA'). The arbitration was initiated on 28 April 2021 by IPR Wastani Petroleum, a member of the IPR Energy Group, in relation to the Sale and Purchase Agreement (SPA) for

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Keppels intends to vigorously defend USD $42.5 million arbitration dispute

July 27, 2021
| Archives

Keppel Corporation Limited (the “Company”) wishes to inform that two of Keppel Offshore and Marine Limited’s wholly-owned subsidiaries (the “Respondents”) have received a request for arbitration from the counterparty (the “Claimant”) to two engineering, procurement and construction contracts relating to Floating Production Storage and Offloading units (“EPC Contracts”). The Claimant has withheld a total of approximately US$11.3

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Europe needs more gas from all sources says Wintershall

July 27, 2021
| Archives

Oil and gas producer Wintershall Dea, which has a 70% gas portfolio, on Tuesday said Europe needed multi-sourced gas to support decarbonization away from coal and to create a platform for future hydrogen production from carbon-free energy. Wintershall, one of five western world financiers of the Gazprom-led pipeline project, Nord Stream 2, said chief executive Mario Mehren in

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