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Post by pyromancer157 on Apr 29, 2024 20:39:55 GMT -5
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Post by Blitz on May 4, 2024 10:40:44 GMT -5
An example of operators' deepwater E&P plans expanding... Namibia: Azule Energy and Rhino Resources announce strategic farm-in agreement for Block 2914A (PEL 85), offshore Namibia 04 May 2024 www.energy-pedia.com/news/namibia/azule-energy-and-rhino-resources-195025Azule Energy, an independent joint venture created in 2022 by combining bp and Eni assets in Angola, and Rhino Resources Namibia have announced the execution of a farm-in agreement which, on completion, will grant Azule a 42.5% interest in Block 2914A located in the offshore Namibian Orange basin, the location of several major oil discoveries since 2022. The current contractor group consists of Rhino {Operator, 85%), Namcor (10%) and local company Korres Investments {Pty) Ltd {5%). The plan is to drill two high-impact exploration wells, as part of a work programme in the area, with the first well expected to spud by the end of 2024. The Agreement also provides Azule Energy with an option to become the operator of PEL85. The transaction is subject to customary third-party approvals from the Namibian authorities and joint venture parties.  Source: Azule Energy Azule Energy's CEO, Adriano Mangini, expressed his enthusiasm about this strategic move: 'Our entry into offshore Namibia represents a significant milestone for Azule. We are excited to enter this highly prospective hydrocarbon region and to participate in the unlocking of Namibia's oil and gas potential. This venture aligns with Azule Energy's vision of becoming a regional leader in energy exploration and underscores its dedication to safe and reliable resource development.' Rhino Resources· CEO, Travis Smithard said: 'The signing of this agreement sets the foundations for a new strategic partnership between Rhino and Azule. This partnership is based upon a mutual drive to accelerate exploration on the block with the goal of developing the hydrocarbon potential in the shortest timeframes possible. We believe that Azule's unique capabilities of rapid deployment of technical and financial resources will complement our objectives of delivering value creation, for the benefit of all Namibian stakeholders.'Original announcement link Source: Azule Energy |
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Post by Blitz on May 8, 2024 9:45:36 GMT -5
Namibia deal gives BP and Eni exposure to ‘one of the most amazing prospects ever seen’ Azule Energy is set to join Rhino Resources in drilling two exploration probes in promising Orange basin block, one targeting a huge structure called Sagittarius BP chief executive Murray Auchincloss. Photo: AFP/SCANPIX Iain Esau, Africa Correspondent, London - Updated 45 minutes ago www.upstreamonline.com/exploration/namibia-deal-gives-bp-and-eni-exposure-to-one-of-the-most-amazing-prospects-ever-seen-/2-1-1640987An exploration well set to be drilled in Namibia’s prolific Orange basin by Rhino Resources and its new partners BP and Eni will target a prospect with “amazing” potential, according to one of Namibia’s top petroleum officials. Last week, BP and Eni — through their Angola-based Azule Energy joint venture — struck a deal with South Africa’s Rhino to take a 42.5% stake in Petroleum Exploration Licence (PEL) 85, with the first of two consecutive exploration wells due to spud this November. BP chief executive Murray Auchincloss told analysts on Tuesday that PEL 85 hosts very similar structures to nearby PEL 83, where Galp Energia said last month that its Mopane discovery holds in-place resources of at least 10 billion barrels of oil equivalent. You need a subscription to read this story |
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Post by bjspokanimal on May 8, 2024 14:37:50 GMT -5
So, 10 billion in Pel 83, maybe another 10 billion in PEL 85, and the biggest, single find this
decade at the Venus discovery. All of that helps to explain why Africa is expected to need the
most floaters from outside the area in 2025. This quote from Keelan Adamson makes the point:
"Africa could be the region to absorb most of the remaining active floating fleet and once
again play a significant role in the Golden Triangle. In order to satisfy the demand
expected by 2025, we believe at least 4 rigs will be required (to mobilize there) from outside
the region. Current tenders alone include XOM's two-year opportunity and Shell's one-year
opportunity. Both of these have multi-year options".
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Post by Blitz on May 9, 2024 8:16:42 GMT -5
So, 10 billion in Pel 83, maybe another 10 billion in PEL 85, and the biggest, single find this decade at the Venus discovery. All of that helps to explain why Africa is expected to need the most floaters from outside the area in 2025. This quote from Keelan Adamson makes the point: "Africa could be the region to absorb most of the remaining active floating fleet and once
again play a significant role in the Golden Triangle. In order to satisfy the demand
expected by 2025, we believe at least 4 rigs will be required (to mobilize there) from outside
the region. Current tenders alone include XOM's two-year opportunity and Shell's one-year
opportunity. Both of these have multi-year options".Follow the FPSOs... Excerpt: Asian FPSO operator receives crucial approval for newbuild hull concept for large floaters The FPSO model features oil processing capacity of up to 250,000 bpd and gas production capability of up to 550 MMcfd Ravi Shankar Srinivasan, chief executive of SP Energy. Photo: SP Energy Nishant Ugal, Middle East and South Asia Editor, New Delhi Updated 9 May 2024, 00:00 www.upstreamonline.com/rigs-and-vessels/asian-fpso-operator-receives-crucial-approval-for-newbuild-hull-concept-for-large-floaters/2-1-1641246India’s Shapoorji Pallonji Energy (SP Energy) has received crucial approval for its new-generation hull concept for large floating production, storage and offloading vessels, with an eye on huge oil projects in Africa and the Americas. The company pn Wednesday in a statement said that it has in place a "front-end engineering design (FEED) level approval-in-principle (AIP) from ABS (American Bureau of Shipping) for its FPSO newbuild hull design, Sterling Streamline". SP Energy noted that its Sterling Streamline “marks a significant advancement in FPSO hull design, seamlessly integrating size, customisability, sustainability and operational longevity". |
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Post by Blitz on May 9, 2024 8:21:53 GMT -5
So, 10 billion in Pel 83, maybe another 10 billion in PEL 85, and the biggest, single find this decade at the Venus discovery. All of that helps to explain why Africa is expected to need the most floaters from outside the area in 2025. This quote from Keelan Adamson makes the point: "Africa could be the region to absorb most of the remaining active floating fleet and once
again play a significant role in the Golden Triangle. In order to satisfy the demand
expected by 2025, we believe at least 4 rigs will be required (to mobilize there) from outside
the region. Current tenders alone include XOM's two-year opportunity and Shell's one-year
opportunity. Both of these have multi-year options".Follow the FPSOs... Excerpt: Asian FPSO operator receives crucial approval for newbuild hull concept for large floaters The FPSO model features oil processing capacity of up to 250,000 bpd and gas production capability of up to 550 MMcfd Ravi Shankar Srinivasan, chief executive of SP Energy. Photo: SP Energy Nishant Ugal, Middle East and South Asia Editor, New Delhi Updated 9 May 2024, 00:00 www.upstreamonline.com/rigs-and-vessels/asian-fpso-operator-receives-crucial-approval-for-newbuild-hull-concept-for-large-floaters/2-1-1641246India’s Shapoorji Pallonji Energy (SP Energy) has received crucial approval for its new-generation hull concept for large floating production, storage and offloading vessels, with an eye on huge oil projects in Africa and the Americas. The company pn Wednesday in a statement said that it has in place a "front-end engineering design (FEED) level approval-in-principle (AIP) from ABS (American Bureau of Shipping) for its FPSO newbuild hull design, Sterling Streamline". SP Energy noted that its Sterling Streamline “marks a significant advancement in FPSO hull design, seamlessly integrating size, customisability, sustainability and operational longevity". Nigeria unveils 12-block licensing round in move to revive upstream fortunes West African nation hopes for positive response from investors to acreage offering Nigeria President Bola Tinubu. Photo: AFP/SCANPIX Iain Esau, Africa Correspondent, London - Published 9 May 2024, 05:31 www.upstreamonline.com/exploration/nigeria-unveils-12-block-licensing-round-in-move-to-revive-upstream-fortunes/2-1-1641460Nigeria has launched an oil and gas licensing round, offering 12 blocks in both onshore and deepwater areas of the nation's prolific Niger Delta basin. The move is part of President Bola Tinubu's drive to attract investment into Nigeria's moribund oil and gas sectorz, amid the exit of supermajor's from the country's hydrocarbon-rich swamp plays. The round was launched at the Offshore Technology Conference in Houston this week by Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). You need a subscription to read this story |
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