The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) and its partners in Oil Mining Leases (OMLs) on Friday signed renewed Production Sharing Contracts (PSCs) agreements to produce 10 billion barrels of oil cumulatively. The development finalised negotiations on renewed PSC, in line with the new provisions of the Petroleum Industry Act (PIA) Section 311. The
Investments will enhance old wells as well as boosting exploration activities US-based Apache Corporation is planning to ramp up investments into its concessions in Egypt’s Western Desert region, according to the Egyptian Ministry of Petroleum and Mineral Resources. The investments will aim to enhance the productivity of old wells as well as boosting exploration activities.
About 48 hours after granting ministerial consent regarding the N1.283 billion sales and purchase deal between ExxonMobil and Seplat Energy, President Muhammadu Buhari yesterday rescinded the decision. The president, who is the de facto Minister of Petroleum Resources, blamed the lack of coordination among the concerned agencies for the confusion, explaining that he had weighed
President Muhammadu Buhari has approved Seplat Energy‘s acquisition of the entire share capital of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation. Mr Buhari approved the transfer in his capacity as Minister of Petroleum Resources. Exxon Mobil entered into a landmark Sale and Purchase Agreement with Seplat Energy to acquire the entire share capital of Mobil
Swedish mining and infrastructure manufacturer Epiroc has announced a $14.7 million equipment order from La Société Nationale Industrielle et Minière (SNIM) in Mauritania- one of Africa’s largest iron ore producers. The contract calls for a package of the company’s advanced Pit Viper 351 drill rigs fitted with AutoDrill and AutoLevel functionality to be put to
AEI is an Africa focused publication, conceived as a response to the skeletal information available on Africa’s energy & Infrastructure. AEI is one of Africa’s trusted knowledge source for Energy & Infrastructure news.