African Export-Import Bank (Afreximbank) has unveiled plans to establish a $1 billion oil service financing facility in Guyana, which aims to enhance local participation in the country’s fast growing oil industry.The bank will deploy the $1…
Shares of Tullow Oil jumped over 14% on Friday after the West Africa-focused company was exempted from a $320 million tax on its Ghana operations.The International Chamber of Commerce (ICC) ruled that the Branch Profit Remittance Tax (BPRT)…
Offshore drilling contractor Noble Corporation has secured work for its Noble Venturer drillship, set for operations offshore Ghana, and Noble Globetrotter I drillship, which will be deployed in the Gulf of Mexico.The contract for Noble Venturer is with Tullow Ghana…
U.S. oil and gas firm Kosmos Energy walked away from its pursuit of West Africa-focused Tullow Oil on Tuesday, without specifying any reason for the decision, prompting a 10% drop in Tullow's shares.Kosmos' announcement comes less than a week…
Oilfield services provider Petrofac has secured a new master service agreement (MSA) with Marathon Oil to support its key onshore and offshore assets in Equatorial Guinea.Under the agreement Petrofac will provide technical authority and discipline engineering support…
Offshore drilling contractor Northern Ocean has signed a strategic alliance agreement in Ghana and a contract with the Springfield Group for the use of the Deepsea Bollsta on a well test of the Afina 1x well, amongst other activities.The strategic…
Marine seismic acquisition firm Shearwater Geoservices has secured a 4D seismic monitoring contract for the Jubilee field in Ghana, operated by Tullow Ghana.The two-month survey will be conducted early 2025.This will be the first contract conducted by Shearwater Ghana…
Ocean services provider DeepOcean has secured frame agreements with Woodside Energy's Senegalese subsidiary to provide subsea inspection, maintenance, and repair (IMR) services for the Sangomar field, offshore Senegal, West Africa.The scope of work includes project management…
Offshore drilling firm Noble Corporation has informed about two new drilling campaigns secured for its Noble Venturer drillship in Africa, which is currently employed on drilling assignment with Tullow Oil offshore Ghana.Following the early…
Tullow Oil swung into a loss in 2023 after cutting the value of reserves in one of its West African oilfields, as its chief executive said the company would consider shareholder returns after 2025.The London-listed company said on Wednesday it posted a $110 million loss after tax last year…
Ghana plans to introduce a more flexible oil royalties regime as soon as next year to spur investment and reduce risk for energy companies, the head of the state oil sector regulator said on Thursday.Egbert Faibille Jr, CEO of Ghana's Petroleum Commission…
West Africa-focused Tullow Oil on Wednesday trimmed its 2023 production forecast for a second time, mainly due to delays in Jubilee oilfield's southeast extension off Ghana.In September, the London-listed company had reduced the upper end of its production guidance for the year to 58…
Tullow Oil said on Monday it had entered into a $400 million five-year debt facility deal with Glencore, which would help manage its senior notes maturing through 2026.The facility, with Glencore Energy UK Ltd, will be available to draw for…
German Chancellor Olaf Scholz this weekend makes his third visit to sub-Saharan Africa in two years, as conflicts elsewhere highlight the growing importance of an energy-rich region in which Berlin has traditionally had little involvement.He will visit major energy producer Nigeria…
Ghana is looking to boost its oil and gas production by selling more exploration rights, aiming to avoid leaving valuable fossil fuels in the ground and generate revenue to fund its energy transition, a Ghanaian official said on Tuesday.The…
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