Market News
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New Age starts producing oil from the Nené Marine field, offshore Congo
Posted on :Saturday , 17th January 2015
New Age has commenced oil production from the Nené Marine field, located in Marine XII Block, offshore Congo, eight months after obtaining the production permit and just 16 months from discovery.
The Nené Marine field is located offshore 17 kilometres from the coast, at a water depth of 28m and is near existing oil facilities. The field produces . . .Tullow Oil to drill first exploration well in Kenya’s Block 12A
Posted on :Saturday , 17th January 2015
Tullow Kenya is to drill its first exploration oil well in Elgeyo Marakwet later this year, as the company continues to expand its oil and gas search into new areas within the country.
The oil exploration company said the proposed exploration well named Lekep-A , will be the first exploration well to be drilled by Tullow on Block 12A.. . .ION Geophysical to acquire 2D seismic in offshore Puntland
Posted on :Friday , 16th January 2015
ION Geophysical has announced that it has signed the first of a kind offshore multi-client 2D seismic survey agreement with the Puntland Petroleum and Minerals Agency.
According to ION Geophysical the survey will help demarcate a block boundary scheme for future licensing activity as well as provide more than 7,600 km of pre-stack depth-migra. . .Drilling of Kifaru-1 well in Mozambique begins
Posted on :Friday , 16th January 2015
Wentworth Resources has announced the beginning of drilling operations on the Kifaru-1 exploration well by the Helmerich & Payne rig #243 in the Rovuma Onshore Concession in northern Mozambique.
The Kifaru-1 exploration well is targeting Miocene sands, similar to the reservoirs in the Mnazi Bay and Msimbati gas fields in southern Tanzania, as well as Oligo. . .Most developing countries will benefit from oil price slump – World Bank
Posted on :Wednesday , 14th January 2015
Gains from low oil prices can be substantial for developing-country importers if supported by stronger global growth, says a World Bank Group analysis of the oil price decline, contained in the latest edition of Global Economic Prospects.
The decline in oil prices reflects a confluence of factors, including several years of upward surprises in oil supply and d. . .Please Select an Option
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