BW Energy has signed an agreement to acquire the 2021-built semi-sub drilling rig Leo from Aqua-drill for $14m. The company plans to re-purpose the rig as a floating production unit for the Kudu gas to power project offshore Namibia. BW Energy believes re-purposing will enable an optimization of the project timeline and significantly reduce capital
ExxonMobil’s affiliate in Angola has just awarded Valaris a two-year contract for drillship VALARIS DS-9. The rig is to be reactivated and mobilized to Angola in June 2022. This marks the resumption of drilling activities for ExxonMobil in Angola following a June 2019 agreement with National Agency for Petroleum, Gas and Biofuels (ANPG) to further
For the last two decades, Africa has been considered the new frontier of oil and gas exploration, with many of the major global petroleum companies scrambling to acquire assets in an as-yet undeveloped reserve of natural resources which are crucial to the way we live our lives today. While the East African powerhouse of Kenya,
Africa Oil Week the leading oil and gas show in Africa, has announced a stellar line-up of speakers for the 27th edition, scheduled to be held from 8-11 November 2021, at Madinat Jumeirah in Dubai. Attendees can look forward to engaging and forward-thinking discussions which are designed to support the African upstream as it emerges
By Taofik Salako, And Muyiwa Lucas. Rising oil price improves the prospects of Nigeria’s budget implementation but it may also stoke inflation and increased hardship on the average Nigerian, in a delicate balancing for a country whose major export is crude oil and import is refined petroleum products. Oil prices spiralled to three-year high above
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