Statoil and co-venturer Exxon Mobil today announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.2 trillion cubic feet (tcf*) of natural gas in place in the Giligiliani-1 well brings the total of in-place volumes up to approximately 21 tcf in block 2.The Giligiliani-1 discovery is located along the western side of block 2 at a 2,500-metre water.... Read more »

Posted on : Wednesday , 15th October 2014

 A drilling rig, christened ‘West Jupiter,’ which will be used for the drilling of all the oil wells at the 200,000 barrels per day Egina deepwater oilfield, being developed by Total Upstream Companies in Nigeria has sailed away from South Korea, thus demonstrating another milestone in the development of the $3.5 billion Egina project reports This Day.   Speaking during the ground – breaking ceremony of the.... Read more »

Posted on : Friday , 10th October 2014

 Oil major, Royal Dutch Shell has agreed to sell the prolific Oil Mining Lease (OML) 29 to a consortium led by oil-trading firms Aiteo and Taleveras Group in a deal in which the consortium will pay $2.58 billion for the block and an associated pipeline according to This Day.   Shell had indicated its plan to sell four of its onshore oil blocks – OMLs 18, 24, 25 and 29 – in addition to Nembe Creek Trunkline, which for.... Read more »

Posted on : Friday , 10th October 2014

 Nigeria, despite its status as Africa’s top crude oil producer and exporter, continues to trail other African countries such as Algeria, Egypt, Libya and South Africa in terms of refining capacity reports The Punch.   The World Oil and Gas Review 2014, released this week, shows Egypt as having the highest primary refining capacity in 2013 among the five countries, followed by Algeria and South Africa.   Primary capacity.... Read more »

Posted on : Friday , 10th October 2014

As new fields come on stream Chad’s finance minister Kordje Bedoumra says the West African country expects to see its oil production rise from its current 100,000 barrels per day to double that amount by the end of 2015.   “Our expectation is that by the end of this year we can move to 130,000 bpd and by the end of next year probably double that production because we will have new fields,” Bedoumra said in an interview.... Read more »

Posted on : Wednesday , 8th October 2014

 Wentworth Resources projects it will make $20 million for first full year and $140 million over first 5 years of production net of operating and on-going development costs according to the October 2014 presentation.   This is per Mnazi Bay Gas Sales Agreement terms where the initial volumes are expected to reach up to 80 mmscf/d from 4 existing wells with volumes increasing  to 130 mmscf/d with the development of 3 development.... Read more »

Posted on : Wednesday , 8th October 2014

 Cairn together with its joint venture partners announced that the FAN-1 exploration well, offshore Senegal, has discovered oil. The well, located in 1,427 metres (m) water depth and approximately 100 kilometres offshore in the Sangomar Deep block, has reached a Target Depth (TD) of 4,927 m and was targeting multiple stacked deepwater fans.   Preliminary analysis indicates: 29m of net oil bearing reservoir in Cretaceous.... Read more »

Posted on : Tuesday , 7th October 2014

 Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, announced the preliminary results of drilling of the well CGD-12 in the Sebou Permit, onshore Morocco.   The well is located within the western central area of the Sebou Permit, about 4 kilometres to the south of the main gas gathering station. The well was spud on 25 August and drilled to a TD of 1,232.... Read more »

Posted on : Tuesday , 7th October 2014

 The West African Gas Pipeline Company (WAGPCo) has opened its pipeline to be accessed by independent gas shippers to maximise the potential of the facility, which  has been underused over the years.   The pipeline can currently carry 170mscfd and has potential to carry additional volumes of up to 474 mscfd.   The WAGP’s present contractual volume is 132mscfd and WAPCo said on Monday that it was positioning itself.... Read more »

Posted on : Monday , 6th October 2014

The continued decline of United States’ imports of Nigerian crude oil in recent years has led to more Asian countries particularly India and China accommodating the backed-out barrels from Nigeria reports The Punch.   China, India, Japan and South Korea, Asia’s four largest oil consumers, have collectively bought around 42 per cent more Nigerian crude so far this year in comparison with 2013, according to an analysis of import.... Read more »

Posted on : Tuesday , 7th October 2014

 CAMAC Energy Inc. (“CAMAC Energy” or the “Company”) (NYSE MKT: CAK) has announced that an updated independent assessment of the Company’s prospective resources for four offshore Nigeria prospects located within Oil Mining Leases (“OMLs”) 120 and 121 by DeGolyer and MacNaughton (“D&M”) has increased the Company’s unrisked P50 recoverable resources from 537 million barrels of.... Read more »

Posted on : Monday , 6th October 2014

Italy's Eni reported Wednesday that it has made a new oil discovery at the Ochigufu exploration prospect, located in deep water off Angola. Ochigufu is the 10th commercial oil discovery in the country's Block 15/06 and is estimated to contain 300 million barrels in place. Eni also reported that the Ochigufu 1 NFW well, which led to the discovery, will be brought into production "in record time". The well, located approximately 90 miles.... Read more »

Posted on : Friday , 3rd October 2014