Offshore drilling contractor Valaris has received a $200 million payment following the conclusion of arbitration proceedings with Samsung Heavy and has secured new contracts for its rig fleet, adding $100 million to its contract backlog. Illustration; One of Valaris’ drillships; Image by: CellsDeDells; Source: Wikimedia – under the CC BY-SA 3.0 licenseValaris said earlier this week that it …
Maersk Drilling gets more work for jack-up and drillship
Danish offshore drilling contractor Maersk Drilling has secured more work for a jack-up rig and a drillship offshore the UK and Africa, respectively. Maersk Innovator rig; Source: Maersk DrillingIn its latest fleet status report, released on Wednesday, the rig owner said that CNOOC Petroleum Europe had exercised a one-well option for the Maersk Innovator jack-up rig in …
Continue reading "Maersk Drilling gets more work for jack-up and drillship"
Springfield completes Ghana drilling… Remains mum on size of discovery
Ghanaian oil and gas exploration company Springfield has said it has completed its maiden deepwater drilling campaign offshore Ghana which resulted in a recently announced significant oil discovery. The company, however, has yet to officially disclose the size of the oil find made. Springfield on Tuesday said the Afina-1x well had been drilled to a …
Continue reading "Springfield completes Ghana drilling… Remains mum on size of discovery"
Ghana’s Springfield makes a Discovery in Deepwater
 By John Ankromah Ghanaian homegrown independent, Springfield Exploration and Production has discovered oil in its very first attempt at drilling. The company encountered 50 metres net light oil pay in high quality Cenomanian sand stones, in the West Cape Three Points Block 2 (WCTP2)  Offshore Ghana, according to very impeccable sources at the country’s …
Continue reading "Ghana’s Springfield makes a Discovery in Deepwater"
Savannah Now Owns the Seven Asset
 By Dahlatu Bashir Savannah Petroleum, the UK listed minnow, has become a full-cycle E&P company following transformational acquisition of ‘the Seven Assets’, comprising largely the hydrocarbon properties owned by the defunct Seven Energy. Following a drawn out transaction, which began in October 2017, Savannah, with market capitalisation of $260Million, now owns An 80% interest …
Old Mutual Takesa Piece of Nigerian Gas Infrastructure
 By Pospectus Mojjido, in Abidjan With the conclusion of the takeover of Seven Energy assets, a widely known South African Insurer now owns a piece of a grid length, natural gas pipeline in Nigeria. African Infrastructure Investment Managers (AIIM) is a member of the Alternative Investments unit of the Old Mutual Group, the South …
Continue reading "Old Mutual Takesa Piece of Nigerian Gas Infrastructure"
TGS-PetroData Acquires Data, Ready For ‘Forthcoming’ Licencing Round
 TGS-PetroData is to commence a regional Multi beam and Seafloor Sampling (MB&SS) Programme, covering 80,000 square kilometres of both allocated and non-allocated blocks from offshore to deep offshore Niger-Delta, in December 2019. The new survey will capture 200 core locations and provide crucial de-risking of the petroleum system, “to help better inform exploration and …
Continue reading "TGS-PetroData Acquires Data, Ready For ‘Forthcoming’ Licencing Round"
Oil Holds Near 2-Week Low as Supplies Swell
Oil held losses near a 2-week low on signs of swelling American crude inventories. (Bloomberg) -- Oil held losses near a two-week low on signs of swelling American crude inventories, while investors monitored developments on the U.S.-China trade war. Futures were steady in New York after slumping 3.2% on Tuesday, the most since the end …
Continue reading "Oil Holds Near 2-Week Low as Supplies Swell"
Oil Eases as Investors Monitor Trade War
Oil eased after the biggest increase in more than two weeks as investors monitor developments in the U.S.-China trade war. (Bloomberg) -- Oil eased after the biggest increase in more than two weeks as investors monitor developments in the U.S.-China trade war, while stockpiles shrink at a key American crude storage hub. January futures lost …
Yinson in $800M FPSO refinancing deal
Malaysian FPSO provider Yinson has struck an $800 million refinancing deal with 13 banks. John Agyekum Kufuor FPSO in Ghana; Image source: EniYinson said Tuesday the agreement was reached with both global and local banks to refinance its FPSO John Ayekum Kufuor. The FPSO is currently operating in OCTP Block, offshore Ghana, chartered by Italy’s …
Energy Network 