Kosmos’ gas discovery comes as many of its peers cut back on exploration, especially in frontier areas, as the downturn marked by lower commodity prices and profits lingers.
Bidding round results show some companies are still willing to spend money on exploration despite falling profits and cost cuts.
ENI and Mellitah Oil and Gas will award a contract for the gas gathering system for the Bahr Essalam phase 2 development in Block NC41 offshore Libya before year-end.
Egypt's state gas company EGAS said in a statement it had awarded one license to Britain's BP and one to Italy's Edison. A consortium involving BP and Eni's Egyptian subsidiary had also picked up a block as had another consortium involving Eni, BP and France's Total.
Apache Corp. said it has an exploration success rate of 78% in Egypt.
Anadarko Petroleum has decided to terminate its charter of the Dolphin Drilling drillship Belford Dolphin in September this year, with the unit currently working for the operator off east Africa’s Mozambique.
The battle to win the contract to design and build a world-class FLNG unit to be used by Eni and its partners on a mega-gas project offshore Mozambique is coming to the boil.
Various subsea equipment will be delivered throughout 2015 and 2016.
UK independent Sterling Energy has had the exploration period for two frontier blocks northwest of Madagascar extended.
The contract is for a firm charter period of 15 years with five yearly extension options exercisable by the client.
A non-binding heads of terms agreement was signed under which Schlumberger would receive 40% interest in Ophir’s FLNG Fortuna project in Equatorial Guinea, Reuters said.
Sudan’s oil minister asked ONGC to consider buying stake in Block 17, which is operated by Star Oil, in which Yemen’s Ansan Wikfs owns a 66% stake it wants to sell, Reuters reported.
Edison, which paid around $1.4 billion for the field in 2009, owns all E&P rights at Abu Qir but manages it in a joint venture with Egypt's EGPC.
Oil samples, sidewall cores and wire line logging all indicate the presence of high API oil in the best quality reservoir encountered in the South Lokichar Basin to date, Tullow said.
The well was drilled to a measured depth of 16,476 ft and encountered good quality sands in the Dentale D-18/19 reservoir, according to a news release.
Uganda discovered crude reserves in Albertine Rift Basin near border with Democratic Republic of Congo in 2006. Latest licensing round will have six blocks covering about 3,000 sq km, Reuters said.
The start-up of Mpungi field, which follows the West Hub’s first oil from the Sangos Field in November 2014 and the Cinguvu Field in early April 2015, will ramp up production to about 100,000 barrels of oil per day in first-quarter 2016, Eni said in a news release.
The project includes 11 wells tied back to an existing floating production unit and is expected to produce a total of 40,000 barrels of oil per day.
Oando's gas and power unit reported a net income of $19 million for the nine months to September, down from $22 million the previous year.
The project will include an evaluation of the OML-122 field development, subsea gas pipeline and onshore central processing facility, Penspen said in a news release.
Anadarko and its partners in Area 1 and Area 4 in the Rovuma Basin offshore Mozambique have signed an unitisation deal for the two blocks to bring development closer.
Engineering and management services company Penspen will be revisiting work it carried out more than 20 years ago after winning an engineering study for the development of a field in the Niger Delta offshore Southern Nigeria.
Statoil is training its sights on eastern and southern Africa as it looks to develop its global exploration portfolio and has taken stakes in blocks off Mozambique and South Africa.
Ophir Energy, busy pushing on with its pioneering Fortuna FLNG Block R project offshore Equatorial Guinea, expects to have farm-in deals done with potential new partners before it takes a final investment decision mid-2016.
Statoil is planning a slimmed down version of its Snøhvit subsea-to-beach development in the Barents Sea to tap the 620bcm of gas it has discovered off Tanzania.
The 340-m long production vessel, named after late Ghanaian president Prof John Evans Atta Mills, was converted in Singapore from a very large crude carrier (VLCC) super-tanker and is expected to set sail this weekend to Ghana, where it is scheduled to gradually ramp up production from the TEN deepwater oilfield from July/August this year, the company’s COO Paul McDade said on Jan. 21.
The duration of Anthony Gilby’s leave is unknown, the company said. Colm Cloonan, the current CFO, will fulfill the duties of deputy CEO alongside Gabaake.
James Parsons, CEO of Sound Energy, said Schlumberger’s involvement will help de-risk the Tendrara license. On commerciality, both companies will fund 50% of the participating interest costs under the farm-in.
Egypt had been selling gas to Israel under a 20-year agreement that collapsed in 2012 after months of attacks on the pipeline by militants in Egypt's remote Sinai Peninsula, Reuters said.
Bongani Nqwababa and Stephen Russell Cornell have been appointed as Sasol Ltd.’s joint presidents and CEO’s, effective July 1, 2016, the company's board of directors said in a news release.