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ABUJA, Nigeria -- Shell Petroleum Development Company of Nigeria (SPDC), a subsidiary of Royal Dutch Shell, has completed the assignment of its 30% interest in Oil Mining Lease 24 (OML24) and related facilities in the Eastern Niger Delta to Newcross Exploration and Production. Total cash proceeds for Shell amount to some $600 million.
SYDNEY (Bloomberg) -- Beach Energy Ltd. is considering selling its holdings in Egypt as the company focuses on Australia, where it’s exploring with Chevron Corp. The decision on what to do with the assets, which include a gas project that’s forecast to begin output in the first quarter of 2015, will likely be made in the first half of next year, Managing Director Reg Nelson said Nov. 25 in an interview.
HARTLEPOOL, United Kingdom -- Royal Niger Emerging Technologies, a Nigerian service company, has awarded JDR a fast track contract supporting the West African Abo project for the manufacture of a 1.55 km hybrid steel tube and thermoplastic umbilical.
STAVANGER, Norway -- Statoil has decided to cancel its Stena Carron rig contract after fulfilling its work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin, offshore Angola. The rig contract will cease with effect from Nov. 21, 2014.
Eco Atlantic commences 2D seismic survey on the Guy block, offshore Namibia TORONTO, Canada Eco Atlantic has commenced a 1,000 km 2D seismic survey on the Guy block located in the Walvis basin, offshore Namibia. The company engaged, PGS Geophysical
BOULOGNE-BILLANCOURT, France -- Vallourec has been awarded a contract to supply premium tubes and connections for the ultra-deep offshore Kaombo project in Angola, operated by TOTAL E&P Angola.
DUBAI -- Polarcus is to expand its multi-client data library offshore Guinea-Bissau with a new 3D survey. The recently announced dual well successes on trend to the north, offshore Senegal, have resulted in renewed industry interest in the Cretaceous slope fan and shelf-edge reef plays along the basin margin.
LONDON -- Tullow Oil is to its slash it spending on exploration in favor of producing assets and existing discoveries next year, the company has said. While the London-based company “remains exploration-led,” such spending will be “significantly reduced” in 2015, the company’s CEO, Aidan Heavey, said.
LONDON -- Algeria’s latest bid round was the most unsuccessful of all four rounds undertaken since the regulatory changes of the country’s 2005 Hydrocarbon Act, and urgent action is required to revive its upstream sector, says an analyst with research and consulting firm GlobalData.
WINDHOEK, Namibia (Bloomberg) -- Namibia sees as many as five oil exploration wells being drilled in 2016 as companies searching for deposits off the southwest African coast are undeterred by 19 dry wells. Tullow Oil Plc and Royal Dutch Shell Plc, which has two exploration blocks in the Orange River basin, will probably sink wells in 2016, Namibia’s Petroleum Commissioner Immanuel Mulunga said. Murphy Oil Corp. may drill toward the end of 2015 or early 2016, he said. The basin is off the country’s southern coast.
LAGOS, Nigeria -- Aveon Offshore Limited, a Nigerian engineering and fabrication company, has been awarded a contract by National Oilwell Varco (NOV) Nigeria for the fabrication of an offloading buoy as part of the package for the Egina OLT contract for Total Upstream Nigeria. The contract, which was awarded in March 2014, for the fabrication of a 900 ton offloading buoy includes the fabrication of the 700 ton buoy hull, installation and integration of a 200 ton turret and the launching and pre-commissioning of the completed buoy.
PARIS (Bloomberg) -- China’s national oil companies have suffered setbacks to their investments in politically-unstable countries such as Sudan, Iraq, Syria and Libya, the International Energy Agency said.
Ceona bags double subsea contracts in Nigeria LONDON Ceona has been recently awarded two new contracts in Nigeria further underpinning the company’s rapidly evolving footprint and track record in the region, along with its local strategic partner Marine Platforms Limited
HOUSTON -- Schlumberger has announced the availability of its multiclient seismic survey offshore Mozambique. The Schlumberger multiclient seismic data offered in collaboration with the National Petroleum Institute of Mozambique (INP) includes reprocessed 2D lines and newly acquired seismic data, and provides detailed imaging of the subsurface.
CAIRO -- BP Egypt has been awarded two new exploration blocks as a result of the 2013 EGAS bid round. BP and its partners have committed to invest a total of $240 million in the blocks over different phases. Block 3 - North El Mataria is BP’s first entry into the Onshore Nile Delta. Block 8 - Karawan Offshore is located in the Mediterranean Sea, in the northeastern part of Egypt’s economic waters.
EDINBURGH, United Kingdom -- Cairn has announced the discovery of high quality oil in the second well in its Senegal exploration program. The SNE-1 well is located in 1,100 m of water and lies approximately 100 km offshore in the Sangomar Offshore block. The well has a target depth of about 3,000 m and is targeting the Shelf Edge Prospect.
CAPE TOWN, South Africa (Bloomberg) -- South Africa’s oil-industry regulator asked companies including Royal Dutch Shell Plc and Chevron Corp. to remove references to fracing from their applications for shale-gas projects in the Karoo region so they can be processed while relevant legislation is prepared.
DUBAI (Bloomberg) -- Libya will resume pumping crude “soon” at Sharara, its biggest oil field, after an attack that halted output, reducing the North African nation’s production by almost a third, an official said.
Brent falls with WTI as Libya says Sharara field to restart GRANT SMITH LONDON and NEW YORK (Bloomberg) Brent crude fell as traders waited for Libya’s Sharara oilfield to restart after an official said gunmen who attacked the site had
CAPE TOWN, South Africa (Bloomberg) -- Tullow Oil, a British oil producer active across Africa, will emphasize exploration onshore in Kenya over costly offshore wells as the company grapples with lower oil prices. “We just cannot compete on the international scene unless we cut those costs back,” Tullow CEO Aidan Heavey said in an interview in Cape Town. With “a high cost environment and lower oil prices, you really have to focus in on the areas that are more cost-effective to develop.”
LIMASSOL, Cyprus -- Tiger Offshore Rentals has acquired OAG East Med Offshore Rentals, making it the only local provider of DNV 2.7-1 certified offshore equipment in Cyprus. OAG has been recognized as one of the fastest growing providers of offshore cargo carrying units (CCUs) in the Mediterranean region, and the addition of OAG cements Tiger’s dominant position to service the Leviathan gas field, as well as providing ongoing opportunities in the Mediterranean and North African region.
