Following over 50 years of Exploration, Nigeria finally discovered Oil at Oloibiri in Bayelsa State in 1956, by the Shell Group. Since then, The Nigerian oil and gas industry has been vibrant, but largely dominated by multinational corporations until the early 1990s when Nigerian companies began to make a foray into the industry. Local participation was …
INTERNATIONAL ASSOCIATION OF DRILLING CONTRACTORS WHAT ARE THEY ALL ABOUT?
IADC is the voice of the drilling industry, facilitating impactful advocacy across the growing number of countries where drilling operations take place. With staff in place across the world, IADC is at the forefront of influencing sensible and fair regulations for the drilling industry. Engaging with government officials and regulators, IADC strives to develop ongoing …
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South Sudan Signs Extends Oil Exploration, Production Deals For 3 Blocks
South Sudan extended oil exploration and production agreements for three blocks, the petroleum minister said on Monday, seeking to revamp activity in the sector which ground to a halt after years of civil conflict. The government said last week it expects to hit peak oil output of 350,000 barrels per day (bpd) by mid-2019 as …
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US Energy Operations Begin Recovering After Tropical Storm Gordon
Energy companies and port operators along the U.S. Gulf Coast took steps on Wednesday to resume operations after Tropical Storm Gordon shut more than 9 percent of the region's oil and gas output. Gordon never became a hurricane as forecast and weakened into a depression on Wednesday, just hours after making landfall near the Alabama-Mississippi …
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Seplat Output Drops Quarter on Quarter
Seplat Petroleum’s oil and gas production experienced a slight reduction from first quarter to second quarter 2018, largely on account of shut ins caused by leakages in the Trans Forcados Pipeline. Gross liquid output dropped from 61,150BOPD in 1Q 2018 to 52,262BOPD in the 2Q. Gross daily Gas Production was 351MMscf/d in 1Q, declining to …
Savannah Inks Early Crude Production Deal with the Republic of Niger
British explorer bound to submit a pre-feasibility study to the authorities Savannah Petroleum has signed “a legally binding Memorandum of Understanding” with the Government of the Republic of Niger. The MOU affirms both Parties’ commitment to the realisation of a proposed early production scheme (“EPS”) utilising crude oil resources associated with Savannah’s recent discoveries in …
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Energy Transition of Various Speeds
By Gerard Kreeft In September 2015 the rig count in Angola was a robust 22; by June of 2018 this decreased to 4 rigs! Is this the new reality? Will $80 per barrel of oil help move the rig activity to new levels? The rig count is a vibrant sign how well the oil and …
Ocean Rig’s drillship set to drill Tullow’s well offshore Namibia
Ocean Rig-owned drillship Poseidon has reached the drilling site of Cormorant-1 well located in PEL 37 license offshore Namibia, which is operated by Tullow Oil. The participants in Cormorant-1 well are Tullow Namibia Limited (operator) with a 35% interest; Pancontinental Namibia with a 30%; ONGC Videsh with a 30%; and Paragon Oil & Gas with …
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BW discovers oil at Dussafu well offshore Gabon
BW Energy has made an oil discovery in the Ruche North East Marin-1 (DRNEM-1) well drilled in the Dussafu Marin PSC, offshore Gabon. The Dussafu license is operated by BW Energy Gabon (BWEG), which holds a 91.667 percent interest, while Panoro holds an 8.333 percent interest as a partner. BW Energy is a subsidiary of …
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New Age spuds second Etinde appraisal well
Oil and gas company New Age has spud the IE-4 appraisal well at the Etinde block offshore Cameroon. The Etinde block is operated by New Age with a 37.5% working interest. Bowleven and Lukoil are partners with a 25% and 37.5% working interest, respectively. Bowleven announced the spud of the IE-4 well, the second of …
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