Sunday, July 15, 2018

Tullow Oil News

ENI on Track to Double Ghana's Gas Output

(File photo: Eni)

Italy's ENI is on track to deliver the first gas from its Ghana operations next month, with output rising to 180 million cubic feet per day by year end, enough to more than double national output, officials told Reuters on Friday.ENI, which began oil production from a 45,000 barrel-per-day reserves a year ago, will…

Offshore Oil: Tullow eyes Ghana Assets

Tullow Oil is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade said. Tullow is leading two operations offshore Ghana, including the country's flagship 100,000 barrel-per-day Jubilee field, which began commercial production in late 2010.

Ghana to Award New Oil Blocks off West Coast

FPSO Prof. John Evans Atta Mills (File photo: Tullow)

Ghana is set to award nine new upstream oil blocks for commercial exploration off its western coast beginning this year, the energy ministry said on Thursday.The West African country plans to award six of the nine blocks this year while the remaining three will be given out next year through a mix of open competitive tender and direct negotiations, the ministry said in a statement.It sai

Tullow to Pay Seadrill $254 mln Over Ghana Dispute

Photo courtesy of Seadrill

A London judge ordered Tullow Oil to pay rig owner Seadrill around $254 million saying Tullow was wrong to end a rig contract in Ghana on grounds of force majeure over a maritime dispute, Tullow said on Tuesday.Tullow cancelled the contract for Seadrill's West Leo rig in December 2016 after Ghana set a drilling…

Peru's Vizcarra Repeals Tullow's Offshore Oil Contracts

Peruvian President Martin Vizcarra passed a decree that repealed five offshore oil contracts that his predecessor had awarded to Tullow Oil in March shortly before resigning, according to the official gazette on Wednesday.

China's CNOOC Sees Ugandan Oil Production Starting in 2021

© tomas / Adobe Stock

Oil production in Uganda is likely to start in 2021 at the earliest, China's CNOOC said, giving a later date than the government's 2020 target.CNOOC, which is developing the fields in the west of the country with Britain's Tullow Oil and France’s Total , is aiming for a final investment decision this year so development can start…

Eco Atlantic to List in London on Wednesday

Eco Atlantic Oil & Gas, a Canadian oil explorer, will list on London's junior AIM market on Wednesday, raising 4.8 million pounds ($6 million) to help finance a drilling campaign offshore Guyana with partner Tullow Oil. Eco Atlantic, which expects to have a market capitalisation of around 20 million pounds when it lists on Wednesday…

European Shares Rise as Earnings Roll In

Supportive crude prices and strong results from energy firms and auto companies helped European shares rise on Wednesday. The pan-European STOXX 600 ended up 0.5 percent, broadly in line with euro zone stocks and blue-chips , as oil and gas shares gained 0.8 percent and autos climbed 0.6 percent. "Indications are more positive on the outlook for energy stocks…

African LNG Exports to Get Boost from Offshore Projects

File Image (CREDIT: AdobeStock / (c) Fotmart)

Cameroon plans to begin exporting liquefied natural gas later this year using a newly designed offshore plant that analysts say could slash production costs and unlock African reserves not previously considered economically viable. West and Central Africa's Gulf of Guinea has seen a wave of new oil and gas exploration…

Uganda, Tanzania Constructing $3.5 Bln Oil Pipeline

The leaders of Tanzania and Uganda laid a foundation stone on Saturday for the construction of a $3.55 billion-crude export pipeline that would pump Ugandan oil for international markets. The 1,445 km-project - set for completion by 2020 - will stretch from landlocked Uganda's western region, where crude reserves were discovered in 2006, to Tanzania's Indian Ocean seaport of Tanga.

Tullow Launches Oil, Gas Exploration in Zambia

British company Tullow Oil on Friday started exploring for oil and gas in Zambia, Africa's No.2 copper producer, as the country pushes to diversify its economy and reduce its reliance on the industrial metal. Copper mining earns Zambia more than 70 percent of its foreign exchange but the southern African state has…

Total Dips Toes into Exxon's Offshore Guyana Play

France's Total has agreed to pay $1 million for an option to buy a 25 percent stake in an oil exploration block offshore Guyana, its first foray into an area close to where ExxonMobil made one of the largest discoveries of the last decade. Eco Atlantic Oil & Gas, a small Canadian exploration company which earlier this year listed on London's junior AIM market…

Kenya Plans $1 Bln Dual Listing of National Oil Corp

Kenya plans to raise $1 billion by listing its National Oil Corporation at home and on the London Stock Exchange by early 2019, to buy a share of two oil blocks held by Tullow and its partners, a senior government official said on Wednesday. The East African country discovered oil in 2012 and full production is…

South Sudan Eyes OPEC Membership

South Sudan is exploring the benefits of joining the Organization of the Petroleum Exporting Countries as the African nation aims to more than double crude production within 12 months, its oil minister said on Wednesday. The world's newest country has seen its crude output almost halve in recent years, to about 135…

Total to buy Kenyan Oil Block Shares from A.P. Moeller-Maersk

Total SA is to buy shares in three Kenyan oil blocks from A.P. Moeller-Maersk , the office of Kenya's President Uhuru Kenyatta said on Tuesday. Britain's Tullow Oil, and its Canadian partner Africa Oil, discovered commercially viable crude in Turkana region in the far north of Kenya in 2012. A.P. Moeller-Maersk later bought equity in these blocks.

Enpro Subsea Wins Frame Agreement with Tullow

Photo: Enpro Subsea

Production optimization specialist company Enpro Subsea has been awarded a frame agreement contract to support leading multinational exploration and production (E&P) company Tullow Oil as part of the operator’s strategic activities in Ghana. The contract will see the Aberdeen-headquartered firm delivering its innovative…

Kenya's National Oil, Schlumberger Ink Field Development Deal

File Image (CREDIT: AdobeStock / © Diter)

Kenya's National Oil Corporation and U.S. oil services company Schlumberger have agreed to finalise a field development plan on behalf of the government for oil blocks in the northwest of the country. The East African nation discovered commercial oil reserves in its Lokichar basin in 2012. National Oil said in a…

Thompson takes over from Founder Heavey, Tullow Oil

Appointment of Dorothy Thompson CBE as non-executive Chair of Tullow Oil plc Photo Tullow Oil

Tullow Oil plc (Tullow) announced the appointment of Dorothy Thompson as independent non-executive Director and Chair-designate of Tullow with effect from the conclusion of the Group’s Annual General Meeting (AGM) on 25 April 2018. It is anticipated Thompson will succeed Aidan Heavey, Tullow’s current Chairman and Founder…

McTiernan Appointed Non-Executive Chairman, Hurricane Energy

Steven McTiernan

Steven McTiernan has been appointed as Non-Executive Chairman of the board of directors of Hurricane Energy plc, effective May 1, 2018. Dr. David Jenkins, who has acted as Interim Chairman of the Board since November 2017, will return to his previous role as Senior Independent Director on this date.Steven McTiernan…

Flintstone Secures Contract for Tullow FPSO

Flintstone Technology Ltd said it has secured a contract with MODEC for its in-line tensioning and pull through connection mooring system to be deployed off West Africa.The system will be used on Tullow Oil’s Kwame Nkrumah MV21 floating production storage and offloading (FPSO) vessel located on the Jubilee field…

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