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Issue 306 - 08 August 2015

Golar orders third FLNG vessel

Subscriber

Golar LNG has ordered a third floating liquefaction vessel from the Keppel shipyard in Singapore following a review of potential demand. The company said on 21 July that it had executed agreements for conversion of the 126,000 m3 liquefied natural gas carrier Gandria, which will be supplied to Ophir Energy in Equatorial Guinea in 2019, freeing up the Gimi to cover the potential emerging demand for an earlier project in 2018.

Subscriber

London-based Genesis Energy has signed a power purchase agreement for gas power plants with combined capacity of 360MW. Speaking to African Energy on the sidelines of the African Global Investment Summit in London on 2 December, chairman and chief executive Akinwole Omoboriowo said the first phase would involve a 100MW on-grid power plant using General Electric units and a 20MW distributed power plant using engines provided by the UK’s Cummins Cogen, part of the US-based Cummins Group.

Benin
Issue 315 - 14 January 2016

Kiliwani North gas sales agreement

Free

Aminex on 13 January announced a gas sales agreement with Tanzania Petroleum Development Corporation (TPDC) for its Kiliwani North field. Gas from Kiliwani North will be supplied to the new Songo Songo processing plant. Final well preparations are being completed before testing and commissioning of the new plant, and TPDC and Aminex will agree the start of commercial operations once this is completed.

Tanzania
Subscriber

Nigeria’s Sirius Group has given Penspen a contract to conduct an engineering study for the monetisation of gas reserves from offshore oilfields in the Niger Delta. A key element of this agreement is the development of gas reserves in OML 122.The study is being conducted as part of Project Dawn, a three-year development project worth $1.2bn that includes the construction of a pipeline network to deliver natural gas to the existing Escravos-Lagos Pipeline System. Project Dawn is expected to supply 250mcf/d of natural gas under a gas sales and purchase agreement between Sirius Oilfield Support Services and Nigerian Gas Company, a subsidiary of Nigerian National Petroleum Corporation.

Nigeria
Subscriber

Ophir Energy said on 5 May that it had signed a binding heads of terms for a midstream chartering and operating services agreement with London-based Golar LNG. The agreement establishes key commercial terms for Golar to build, operate and maintain a floating liquefaction and storage vessel and facilities for Ophir’s operated Fortuna floating liquefied natural gas (FLNG) project in Block R. The vessel to be used will be Golar’s Gimi FLNG vessel. A previous memorandum of understanding signed with Excelerate Energy on 6 November has been terminated by mutual agreement, Ophir said.

Equatorial Guinea
Issue 301 - 30 May 2015

Libya: Offshore find for Eni

Subscriber

Despite the problems plaguing Libya’s hydrocarbons sector, Eni has made its second discovery of the year in offshore Area D. The gas and condensate discovery was made in the Bouri North exploration prospect, 140km from the coast and 20km north of the producing Bouri field. The A1-1/1 well was drilled at a water depth of 125 metres and encountered gas and condensates in the Metlaoui group of Eocene age. During a production test constrained by surface facilities, the well flowed 1,340 boe/d with a 64/64 choke size.

Libya
Issue 295 - 27 February 2015

Ghana: Tullow contracts DeepOcean vessel

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Tullow Oil has given a contract to DeepOcean Ghana for a multi-purpose construction vessel to work on the Jubilee and TEN developments. The contract includes subsea tree and jumper installations in water depths of approximately 1,100-2,000 metres. DeepOcean Ghana, which is 51% Ghanaian owned, is mobilising the Rem Forza subsea construction vessel for a six-month charter from March to August 2015, with the possibility of extension into 2016.

Ghana
Subscriber

No one doubts that gas fields in the Rovuma Basin offshore Mozambique and Tanzania hold huge reserves of gas. A 27 April-8 May International Monetary Fund (IMF) staff mission to Maputo concluded: “Mozambique’s plans to develop its oil and gas sector in the Rovuma Basin will represent one of the largest investments ever seen in Africa (up to $100bn) and could transform the country into the third largest liquefied natural gas (LNG) exporter in the world.” The critical question is how quickly that gas can be brought to market, and in what direction it goes.

Mozambique
Subscriber

Azonto Petroleum plans to re-tender the construction package for the Gazelle gas project in a bid to push down costs. The Australian company said Italy’s Rosetti Marino had quoted it a higher-than-expected lump-sum price for the offshore and onshore project elements. “In order to achieve a realistic breakeven gas price, and to capitalise on current downward pressure on drilling and other construction costs, the Vioco board therefore has decided to re-tender the construction package. This will result in a delay in sanctioning the Gazelle project,” Azonto said in a 31 March statement.

Côte d'Ivoire
Subscriber

The Maria Gléta thermal power plant has converted to natural gas from aviation fuel, significantly reducing its running costs, but is still not operating at full capacity. Originally planned to run on gas from the West African Gas Pipeline (WAGP), the plant, built by US company Combustion Associates, was brought into service in December 2013 and ran for seven months on jet A1 fuel. It was placed on standby in July 2014 and replaced by temporary power rented from Aggreko, which supplied 50MW, and MR International, which supplied another 30MW. The government said at the time that the aim was to reduce costs.

Benin
Subscriber

Germany’s DEA has sold part of its stake in the West Nile Delta (WND) project to operator BP to better balance its portfolio. The deal includes the sale of part of DEA’s stake in the ongoing Phase 1 development of 5tcf of gas resources. DEA retains 17.25% in the North Alexandria and West Mediterranean Deepwater concessions, making WND still the largest project in its portfolio. The $12bn WND project is due to start production in 2017, producing 1.2bcf/d of gas, which represents some 25% of Egypt’s current gas production.

Egypt
Subscriber

The government is seeking expressions of interest from consultants to review and evaluate the front-end engineering design (FEED) and field development plan for Eni’s floating liquefied natural gas development plan. The project is funded from a World Bank International Development Association credit for the Mining and Gas Technical Assistance Project. Eni launched FEED activities last May for a floating LNG vessel for the Coral South Development Project. Three consortia are competing for the engineering, procurement, construction, installation and commissioning contract, and the FEED process is due for completion by end-April 2015,

Mozambique
Subscriber

The mid-November visit to Algiers of President Recep Tayyip Erdogan provided a backdrop for the signing of a renewed deal for Sonatrach to supply 4.4bcm/yr of liquefied natural gas to its long-standing Turkish client Botas. The two state companies extended their agreement for another ten years. Turkey’s Anadolu Agency reported Erdogan as saying: “Right now, Algeria is the fourth biggest source for Turkish natural gas imports.” Russia, Iran and Azerbaijan are Turkey’s top three suppliers, piping a total of 42bcm/yr.

Algeria
Issue 287 - 27 October 2014

Mozambique: Eni signs Kogas deal

Subscriber

Eni signed a co-operation agreement with Korea Gas Corporation (Kogas) on 17 October to strengthen their relationship in a number of areas, particularly in the upstream and liquefied natural gas (LNG) sectors. Eni said the agreement would allow the companies to jointly pursue opportunities worldwide. Eni and Kogas expect the co-operation agreement to facilitate the LNG development of Area 4 in Mozambique, where Eni is operator with a 50% indirect interest. Kogas, Galp Energia and the state Empresa Nacional de Hidrocarbonetos are partners in the agreement, with 10% interest each, while China National Petroleum Corporation has 20% indirect participation via a holding in Eni East Africa.

Mozambique
Free

The World Bank’s International Finance Corporation (IFC) has subscribed to $50m of notes in the inaugural bond issuances by Nigerian gas developer Seven Energy International. Seven Energy is Nigeria’s first unlisted oil and gas company to tap the international capital markets, and the company’s bond issuances raised a total of $400m. Part of the proceeds will fund the construction of the Oron‐Calabar pipeline which will provide much needed gas for power projects in the city of Calabar in southeastern Nigeria, the IFC said.

Nigeria