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China set to drill 118,000 wells through 2025

September 27, 2021
| Archives

China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption. A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118,000 wells that will create significant opportunities

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Angola announces award of 2020 Bidding Blocks

September 27, 2021
| Archives

Angola’s Agency for Petroleum, Gas and Biofuels (ANPG), acting as a National Concessionaire, has announced the result of the bidding process for the Lower Congo and Kwanza Onshore Basins, according to the composition of the Contractor Groups can be found here. The National Concessionaire will shortly notify the winning companies about the date and place for the start of the

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PGS awarded more work from ExxonMobil offshore Suriname

September 27, 2021
| Archives

PGS has secured a 3D acquisition contract with ExxonMobil for work offshore Suriname. Ramform Tethys is scheduled to commence acquisition during Q4 2021, and it is planned to complete in Q1 2022. 'We are very pleased with this contract award by ExxonMobil. We are increasingly familiar with Caribbean waters and have proven the productivity advantage of our Ramform Titan-class acquisition platform and superior data

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BP says nearly a third of its UK fuel stations running on empty

September 27, 2021
| Archives

BP said nearly a third of its British petrol stations had run out of the two main grades of fuel on Sunday as panic buying forced the government to suspend competition laws and allow firms to work together to ease shortages. Lines of vehicles formed at petrol stations for a third day running as motorists waited, some for hours,

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EG to revisit hydrocarbon laws to incentivize investment

September 24, 2021
| Archives

Speaking at a Bilateral Chamber hosted webinar on Wednesday the 22nd of September, H.E. Minister Gabriel Obiang Lima indicated a new Hydrocarbon Law in Equatorial Guinea, with more insights to be provided at African Energy Week in Cape Town. H.E. Gabriel Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, has announced the Ministry’s intention of preparing

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Shell sells out Egypt assets to Cairn and Cheiron

September 24, 2021
| Archives

Shell Egypt NV and Shell Austria GmbH have completed the sale of their upstream assets in Egypt’s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC The sale is made for a base consideration of US$646mn and additional payments of up to US$280mn between 2021 and 2024, contingent on the

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Halliburton receives letter of intent from Chariot offshore Morocco

September 24, 2021
| Archives

AIM-listed Chariot, the Africa focused transitional energy company, has signed a binding letter of intent with Halliburton, one of the world's largest oil field service companies, for services on Chariot’s planned Anchois gas appraisal well within the Lixus licence, offshore Morocco. The services Halliburton will assist Chariot with include but are not limited to: Project management services Directional drilling and logging whilst drilling services Drilling fluids materials and

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Aquadrill announces charter hire agreement for the Auriga

September 24, 2021
| Archives

Aquadrill LLC has entered into a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. (the “Manager”) to provide the Auriga for a one year drilling contract plus a one year mutually agreed option for operations in the US Gulf of Mexico. The charter hire agreement will be extended if the parties mutually agree to

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Seadrill top of the pack for Petrobras MPD contract

September 24, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Petrobras declared Seadrill the winning company for Lot 1, unit with MPD, as the Norwegian drilling contractor offered in West Tellus and West carina at the most competitive rates. The tender was issued earlier this year and was for the

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