Africa ///

New president of Chevron Africa and Latin America E&P named

Chevron Corporation has named Clay Neff as president of Chevron Africa and Latin America Exploration and Production, effective Jan. 1, 2017.

CGG delivers final preSDM data sets for Gabon south basin multi-client survey

CGG announced that the final processed depth volumes (Kirchhoff and RTM PreSDM) from the company's recent 3D BroadSeis multi-client survey in the highly prospective Gabon South Basin are now available for license.

Total to operate Ivory Coast re-gasification project

The CI-GNL (Ivory Coast LNG) consortium led by Total has been awarded the rights to build and operate a liquefied natural gas (LNG) re-gasification terminal in Ivory Coast with a capacity of 3 mtpa.

Nigerian oil misses goals after legal gridlock deters investors

When OPEC exempted Nigeria from its plan to cut oil output for the first time in eight years, it highlighted how far Africa’s biggest producer has fallen.

Libyan oil production shows signs of continued gains: Wood Mac

Wood Mackenzie's latest study on Libya's oil production shows the country's output has doubled from 300,000 bopd in early September to close to 600,000 bopd today, adding to the global oil supply glut.

Eni approves investment for Mozambique’s Coral FLNG development

Eni has authorized the investment for the first phase of the Coral South project. The Coral discovery lies offshore Mozambique in the deep waters of the Rovuma basin (Area 4).

Wildcatters flee African deep water to weather oil rout

Drillers burned by a two-year slump in crude prices are slowing exploration of deepwater prospects off the coast of Africa, undermining a key driver of growth on the continent.

Nigeria reaches $5.1-billion debt settlement with oil majors

Nigeria reached a $5.1-billion settlement to reimburse foreign oil companies, including Exxon Mobil CNigeria orp. and Royal Dutch Shell Plc for past operating costs.

Exxon in negotiations with Chad about $74-billion penalty

Exxon Mobil Corp. is negotiating with Chad’s government about a record $74-billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties.

Tullow, Total Uganda oil exports may delay on infrastructure

Output from Ugandan crude deposits being developed by companies including Tullow Oil and Total is unlikely to be exported as soon as the nation expects because of the scale of the infrastructure projects required to transport the fuel out of the country.

Schlumberger, Ophir, Golar to develop $2-billion Fortuna FLNG project

Ophir Energy and OneLNGSM, a joint venture between subsidiaries of Golar LNG and Schlumberger, have signed a binding agreement to establish a joint operating company (JOC) to develop the Fortuna project, in Block R, offshore Equatorial Guinea.

Upstream capex spend cut by $100 billion over the next five years in Sub-Saharan Africa: WoodMac

Capital investment in the oil and gas industry in Sub-Saharan Africa has been cut by $100 billion over the next five years, according to Wood Mackenzie's latest report on upstream activity in the region. Major oil companies are heavily invested in Sub-Saharan Africa and account for the bulk of cuts.

Shell kicks off drilling program offshore Tanzania

Shell and its joint venture (JV) partners, Pavilion Energy and Ophir Energy, have started their drilling program offshore Tanzania.

OPEC quest gets tougher as Libya, Nigeria ramp up production

Nigeria and Libya, two crude suppliers in OPEC whose output was crushed by domestic conflicts this year, are ramping up again and spelling out what could become the producer club’s biggest challenge as it grapples with a global supply glut.

African oil explorers poised for comeback after drilling low

Chariot Oil & Gas Ltd. plans to drill its first well in at least three years in 2017 off Morocco as African oil and gas explorers meeting in Cape Town this week ponder the potential for an industry renaissance.

Pacific Drilling lines up work for Pacific Bora drillship

Hyperdynamics Corporation, an emerging exploration company, has signed a Letter of Award with drilling contractor Pacific Drilling to engage the Pacific Bora drillship.

Oceaneering and BP agree to two-year extension offshore Angola

Oceaneering International, Inc., has announced that a unit of BP has agreed to a two-year extension through January 2019, under the Field Support Vessel Services contract that was entered into with the Company for work offshore Angola on Blocks 18 and 31.

TGS to expand Africa multi-client library with new survey

TGS is to expand its NWAAM multi-client library in the MSGBC basin. The company is to acquire more than 11,500 km of long-offset broadband 2D seismic data as well as magnetic and gravity data in the Republic of Guinea, Guinea Bissau and the AGC joint exploration zone between Guinea Bissau and Senegal.

Exxon Mobil in billion barrel discovery offshore Nigeria

Exxon Mobil Corporation today announced a significant discovery with a potential recoverable resource of between 500 MMbbl and 1 Bbbl of oil on Owowo field, offshore Nigeria.

Nigeria cuts oil prices, sees ‘huge cargo overhang’ in market

Nigeria cut the price of every type of crude it sells in an effort to regain its share of the global oil market share at a time when there’s a “huge” glut of cargoes.