Since the commencement of the Petroleum Industry Act in 2021, the Nigerian oil and gas industry has undergone significant transformation. The PIA passed by the National Assembly was signed into law by former President Muhammadu Buhari. It is one of the most audacious attempts to overhaul the petroleum sector in Nigeria.
Ivory Coast’s oil minister announced the signing of production-sharing agreements with ExxonMobil for two ultra-deepwater blocks in the Gulf of Guinea.
Members of the Ghana Upstream Petroleum Chamber have held a breakfast meeting with former President Mahama as part of a series of engagements that the Chamber is carrying out with key stakeholders. This is the second in the series of engagements, the first having been with the Vice President, Dr Mahamadou Bawumia.
e-Magic Guyana, known for its expertise in industrial IoT and digital twins solutions, and West Coast Gas Ghana Limited (WCGG), an innovator in hydrocarbon accounting and oil and gas data management have teamed up to launch AnaWorX Inc. This joint venture aims to revolutionize how the oil and gas industry monitors and manages production in real-time, combining the strengths of both companies to benefit stakeholders in Guyana and ultimately, around the world.
The Department of Energy (DOE) and the Japanese Ministry of Education, Culture, Sports, Science and Technology (MEXT) recently announced their agreement to accelerate fusion energy research together.
The commissioning of the Kumasi 1 Thermal Power Project on Wednesday, April 17 by President Akufo-Addo, is set to address voltage and power quality issues in Kumasi and the northern parts of Ghana by boosting system voltages and thus improving overall system stability, the Volta River Authority (VRA) has said.
Eni-controlled renewable energy company Plentitude has started the construction of the Renopool solar park in Extremadura, Badajoz province, Spain.
The State will audit Tullow Oil’s spending on its oil project amid a review of a plan submitted by the British firm on plans to develop the petroleum deposits found in
Turkana more than a decade ago.
Mohamed Liban, Petroleum Principal Secretary, said the new audit by an independent consultant will cover costs Tullow incurred on blocks 10BB and 13T from 2021 until the end of the 2024 calendar year as well as Early Oil Pilot Scheme (EOPS) from 2021 to the end of 2023. “In so doing, the consultant will evaluate whether the expenditures are in line with contractual obligations and if the claimed costs are entitled to cost recovery,” the official said.
Similar independent cost recovery audits for blocks 10BB and 13T for 2010-2016, 2017-2018, 2019-2020, and EOPS for 2017-2020 have been run.
Kenya’s petrodollars dream will take longer to materialise as Tullow Oil plans to make its first commercial export of oil in 2028, marking the latest delay in the project.
This timeline contained in the Field Development Plan (FDP) submitted by the British firm to the government for review and approval, has been revealed for the first time by the Energy and Petroleum Regulatory Authority (Epra).
This is as the government recently extended the timeline for review of the FDP, which Tullow says has been optimised to be robust at low global oil prices, to June 30, 2024.
The government’s discussions with Chevron are progressing well, stated President Christodoulides yesterday, expressing hope for announcements soon.