All posts tagged featured


Angolan Onshore Bid Round Is Opportunity For Locals

“This is the time to look for Angolans to partner with.”
By Sully Manope, Southern African correspondent

Angola’s imminent bid round is an opportunity for local oil companies to develop capacity. This is the wish of the government of this large Southwest African country.

Most Angolan E&P companies, however, do not have financial resources so they will need to partner with international oil companies. The country is offering 10 blocks in all (see map), three in the onshore Lower Congo Basin and seven in the onshore Kwanza Basin. 

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Ophir Looks For Pre Salt Oil Off Gabon

Ophir Energy has commenced drilling the first of two wells focused on pre Salt reservoirs in deepwater offshore Gabon. Padouk Deep 1 is also the first of three exploration wells in the country in 2014, of which the third is targeting a delta play.

Padouck Deep and Okala are targeting the pre-salt play in the Mbeli and Ntsina permits and Affanga Deep targeting the Ogooué delta play in the Gnondo permit. Ophir holds 40% in Mbeli and Ntsina, wth Petrobras and OMV holding 50% and 10% respectively. InManga and Gnondo, Ophir holds 70% to OMV’s 30%.

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Umugini, In Difficult Last Lap, Looks To June 2014 Completion

Adams Okoene

“The latest estimate of the cost is now about $70Million”
By Fred Akanni, in Lagos

The last lap of the 53km crude evacuation pipeline from Umusadege field to Shell’s Eriemu manifold is feeling its way through community challenges, even as the Umugini Asset Company Limited(UACL), the project’s operating company, keeps an eye on its proposed June 2014 commissioning date.

“I would like to deliver this project before June 2014”, says Adams Okoene, Managing Director of Midwestern Oil and Gas, the lead partner in the ownership of UACL, “but I am also a realist. All it takes is for one man and his son, supported by his community, to hold up a pipeline project for three days”.

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African Inspiration Sails Into Gulf of Guinea In September 2014

The Nigerian flagged vessel, African Inspiration will sail into the country’s waters in September this year. The 113 metre long multipurpose service vessel, owned by the Nigerian oil service firm Marine Platforms, has a Gross Tonnage of 5000t. The facility arrives at a landing cost of about $140 Million. Its main crane, which is 3000 metre long, has an active heave compensation of 250tonnes. It has the capacity to accommodate 120 persons on board and is sailing in with two (2) 200HP Remote operated vessels (ROVs).

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Ghana Hands Out Two More Tracts

The country doesn’t conduct bid rounds, here’s what it does..
By John Ankromah

The Parliament of the Republic of Ghana has, in the last two months, ratified two petroleum agreements. One is for South Deepwater Tano Basin; the other, for East Cape Three Points Block. Both lie mainly in deep-water. AGM Petroleum Ghana Limited and Cola Natural Resources, each lead a group of participating companies with the exclusive right to carry out all petroleum exploration, development and production activities within the respective blocks.

AGM Petroleum Ghana Limited is a jointly owned by Minexco, AGR Energy AS and MED Songhai Developers Limited.

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Nigerian Independents produce 158KBPD Net in December 2013

Twenty five privately owned Nigerian companies produced about 158,000 Barrels of Oil Per Day (BOPD) in December 2013.

That is the metred production, which does not take into cognizance any deferment as a result of oil theft and vandalism. This means that the volumes represent the closest to what each company delivered on every “productive” day in the course of the month under consideration.

The largest six producers were Seplat (26,550BOPD), SAPETRO (21,000BOPD), Shoreline Natural Resources (20,250BOPD), Famfa Oil (15,000BOPD), Amni (11,700BOPD) and Conoil (11,300BOPD).

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Falodun Targets Zero Non Productive Time On Nigerian Rig

IADC’s New Chairman Sets Ambitious Goals

By Foluso Ogunsan, with Paul Kelechi

“The drilling rig is so crucial to the success of exploration, appraisal or drilling development well”, says Sola Falodun, chairman of the Nigerian chapter of International Association Of Drilling Contractors (IADC). It’s a 16 month old chapter, set up to look after the interest of the country’s drilling industry. “If you have Non-Productive Time due to equipment obsolescence or employee incompetence, the rig shuts down. If the rig shuts down, it leads to delayed production on the part of the E&P company. Delayed oil production means that government will not achieve the set revenue budgeted during that particular time.

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Shell &Co Look Forward To Earning $2.5Billion+ From Nigerian Lease Sale

Shell

Shell has put a value of between $1.5Billion and $2.9Billion on the equity of the three European partners in the Oil Mining Lease (OML) 29, the most prized asset in the ongoing sale of four onshore acreages in Eastern Nigeria. The three others on the auction block: OMLs 18, 25 and 29, are each valued between $500MM and $1Billion. Shell, ENI and TOTAL, all European majors, are selling their 45% ownership of the acreages.

About 20 companies and consortia remain in the running to buy out the majors in these four producing acreages.

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Egypt Impairs BG’s Bottom-line … 2014 Looks Hazy

…But the North African country remains the largest E&P contributor to the company’s portfolio by volume..
By Toyin Akinosho

BG’s earnings results for Fourth Quarter 2013 quarter included a $1, 286 million ($1.286Billion) post-tax impairment of certain assets in Egypt.

For its 2014 Outlook,  the company expects unit operating expenditure to be in the range of $15.50 -16.25 per BOE at reference conditions, up from $12.17 per BOE for 2013, reflecting, in part, “the declining production across the base assets, especially Egypt”, BG says in its fourth quarter 2013 statement.

The company’s LNG Shipping & Marketing total operating profit for 2014 is expected to be in the range of $2.1 – 2.4 billion at reference conditions, “reflecting lower supply volumes from Egypt” and reference conditions lower than realised prices in 2013. “There is considerable uncertainty over the number of LNG cargoes that Egyptian LNG will produce in 2014”.

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Gaz du Cameroun Connects Glass Manufacturer To Gas

Gaz du Cameroun (GDC) has successfully completed a new thermal gas connection with glass manufacturer SOCAVER.
The SOCAVER plant is now substantially online and is expected to consume an average of 400,000 scf/d running 24 hours per day, with peak demand estimated at 764,000 scf/d.

GDC is the Cameroon operating subsidiary of Victoria Oil and Gas, the UK based minnow, which now runs a gas processing plant on a small field in Cameroon from which it supplies natural gas to industrial customers.

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