Market News
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Algeria announced its intention to move forward with exploration plans in the North of the country
Posted on :Wednesday , 15th October 2014
Algeria announced its intention to move forward with exploration plans in the North of the country, also adding it plans to begin shale gas production by 2022. "We have a great hydrocarbon exploration potential in the country's North and we seek to encourage energy investment through partnership," Energy Minister Youcef Yousfi said on Sunday as reported by Algeria Pre. . .Drilling rig for 200,000bpd Egina oilfield sails to Nigeria
Posted on :Friday , 10th 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.
<. . .Shell Logo Shell Sells OML 29
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. . .New Oil Fields Will Double Chad s Output By 2016
Posted on :Wednesday , 8th 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. . .
OIL DISCOVERED OFFSHORE SENEGAL
Posted on :Tuesday , 7th 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.Prelimin. . .Please Select an Option
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