TEN is one of the main developments offshore Ghana that the company is depending on to help it sustain and grow cash flow as it also moves forward on exploration.
Enhanced completions onshore and subsea tiebacks offshore are contributing to production gains, but low commodity prices are taking away profit potential.
The company is focusing on selling Angola assets, addressing liquidity and moving discovered resources into production by 2021.
Hopes are momentum generated will keep the country on companies’ radars despite today’s market conditions.
West Africa’s list of stalled projects means Tullow Oil’s TEN development is a rare bright spot.
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.
One of Africa’s poorest countries, Madagascar hopes to accelerate economic growth by developing natural resources, but has struggled to attract foreign investors due to political instability and falling commodity prices.
The program includes a 2-D survey of more than 6,550 km in the offshore Rovuma Basin, including blocks R5-A, R5-B and R5-C, and a large 3-D survey over the Beira High in the Zambezi Delta, according to a news release.
Now, Harvest's primary tangible asset is its oil and gas interests in Gabon. Harvest has received two proposals for the purchase of its Gabon interests and is in discussions with both potential buyers.
Giant gas reserves offer Mozambique an opportunity to transform itself from one of the world's poorest countries into a middle-income state and a major global LNG exporter.
Congolese President Joseph Kabila also said the Democratic Republic of the Congo and Tanzania discussed cooperation on proposed crude oil pipeline that would run from Uganda to Tanzania, Reuters reported.
Reserves recently discovered in Mozambique's Rovuma Basin amount to about 85 trillion cubic feet, enough to supply Germany, Britain, France and Italy for nearly two decades, Reuters reported.
Sonatrach has invested to stabilize and increase production at its large mature fields and expects to bring five new gas fields online in the south despite delays from state bureaucracy, Reuters reported.
A trading source said that a fourth Plutonio cargo had been added to the October program, Reuters reported.
Oil production is expected to gradually increase toward 80,000 barrels per day (bbl/d), the FPSO capacity, Tullow said in a news release. The annual average production will be about 23,000 bbl/d gross (11,000 bbl/d net for Tullow).
Tests showed a crude oil flow rate of 2,406 barrels per day, Sonatrach said in a statement.
An issue with the turret bearing of the FPSO Kwame Nkrumah that is operating on the Tullow Oil-operated Jubilee oil field development offshore Ghana “has resulted in the need to implement new operating and offtake procedures.”
Italian oil firm Eni has wrapped up long-running talks to sell a multibillion-dollar stake in its planned Mozambique LNG development to Exxon Mobil, two sources with knowledge of the matter said.
OneSubsea has been awarded a $170 million engineering, procurement and construction contract from Petrobel for the first stage of the Zohr gas field, located in the Shorouk Concession, offshore Egypt.
BP and the Egyptian Natural Gas Holding Co. (EGAS) have sanctioned the development of the Atoll Phase One project.
Kosmos Energy said its Ahmeyim-2 appraisal well has successfully delineated the Ahmeyim and Guembeul gas discoveries offshore Mauritania and Senegal, paving the way for an LNG project in the region.
The court document also stated that the companies were required to pay roughly US$670 million pending any eventual appeal or redress they might choose to pursue, Reuters reported.
Mozambique discovered offshore gas reserves six years ago amounting to about 85 trillion cubic feet, one of the largest finds in a decade, Reuters reported.
The gas offers Mozambique an opportunity to transform itself from one of the world's poorest countries into a middle-income state and a major global LNG exporter, Reuters reported.
"The helicopter did not reach its intended destination. It was carrying five passengers and one pilot," Chevron said in a statement.
Losing Petrofac, whose operations supply around 13% of Tunisia's domestic gas needs, would be another financial blow to the country.