zoomOcean Rig Poseidon; Image source: Pancontinental Oil & Gas Tullow Oil has encountered non-commercial hydrocarbons at its Cormorant-1 exploration well in the PEL-37 license, offshore Namibia, and the well is being plugged and abandoned. Tullow said on Monday that the Cormorant-1 exploration well has been drilled to a total depth of 3,855 meters and penetrated …
Petrolis wins contract for Kaombo Sul FPSO hook-up and mooring
Offshore technical assistance company Petrolis has won a contract from Saipem for hook-up and mooring activities on Total’s FPSO Kaombo Sul to be located on Block 32 off Angola. Source: Petrolis Petrolis said on Wednesday that the company was chosen for the hook-up and mooring of the FPSO Kaombo Sul (Kaombo South) by Saipem following successful completion …
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Sapura Energy lands over $197 million in new contracts
Malaysia’s Sapura Energy has secured three new contracts and a contract extension valued at approximately RM 815 million ($197.4 million). Sapura Constructor; Source: Sapura EnergyThe contract awards are in Australia, Brunei, Malaysia and Nigeria, bringing the total value in contract wins for this financial year to-date to RM5.3 billion for the group. “Sustained high oil …
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First oil flows from Tortue field offshore Gabon
First oil has started flowing from the BW Energy-operated Tortue field offshore Gabon. BW Adolo FPSO; Source: BW OffshoreBW Offshore said on Monday that that first oil from the BW Adolo FPSO was safely achieved on September 16, 2018, 18 months after the initial investment was made in the Dussafu license offshore Gabon. “We have …
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Wabote commissions NigerStar7’s $10m vessel
 The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote on Thursday in Lagos performed the re-christening of ‘ADABA’, a dynamic positioning  system vessel owned by NigerStar7, valued at $10 million.NigerStar7 ADABA will be flying the Nigerian National Flag, rated as DP2 and is equipped with Kongsberg DP system. …
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NCDMB, BOI set flexible conditions for US$200m NCI Fund applications
 The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) have relaxed some of the conditions for accessing the US$200 million Nigerian Content Intervention Fund (NCI Fund) by qualified oil and gas service companies. NCDMB and BOI convened a stakeholders’ forum in Lagos recently to address the major challenges applicants face …
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NNPC Records ₦17.16bn Trading Surplus, Up 46%
The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a statement, said this was part of the highlight of the corporation’s Monthly Financial and Operations …
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Exercise Restraint on Strike Action, Baru Appeals to Oil Workers
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has urged oil workers under the auspices of the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), to halt their planned industrial action over a labour dispute involving …
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OPEC daily basket price stood at $77.08 a barrel Friday, 21 September 2018
Vienna, Austria, 24 September 2018--The price of OPEC basket of fifteen crudes stood at $77.08 a barrel on Friday, compared with $77.13 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), …
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OPEC Gives Tepid Response to Trump Demand
by  Bloomberg Tsuyoshi Inajima & Alex Longley Monday, September 24, 2018 Brent crude climbed above $80 a barrel to its highest level since November 2014 after OPEC and its allies signaled less urgency to boost output, despite U.S. pressure to temper prices. (Bloomberg) -- Brent crude climbed above $80 a barrel to its …
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