ARiES One energy consultants ’s Post

Energy news alert: New farm-in in the Gulf of Guinea! TotalEnergies, the global energy company, has secured a 60% stake in offshore Block STP-02 near near the pristine islands of Sao Tome and Principe, reinforcing its exploration efforts in emerging African basins. Key Points: •#Block STP-02: Encompassing an impressive 4,969 square kilometers, this offshore asset lies approximately 60 kilometers off the coast of Principe. •#Strategic Positioning: Block STP-02 is strategically adjacent to the existing Block STP-01 license, where TotalEnergies already operates with a 55% interest, alongside Sonangol (30%) and the National Petroleum Agency of São Tomé and Príncipe (ANP-STP) (15%). •#Collaboration: The acquisition involves key partners, with Sonangol retaining a 30% stake and ANP-STP holding 10%. •#Pending Approvals: The transaction is subject to final approvals from relevant authorities. Kevin McLachlan, Senior Vice-President Exploration at TotalEnergies, emphasized the company’s vision: “Building on the encouraging prospectivity identified through 3D seismic data on adjacent Block STP01, TotalEnergies continues to advance its exploration efforts by securing this promising license. Our goal is to maintain portfolio flexibility and contribute to sustainable energy development.” Stay tuned for more updates on this exciting venture and for more industry insights make sure to attend AOW 2024! Get your ticket here: https://lnkd.in/ezWCtf6X 🚀 #EnergyExploration #AfricaEnergy #SaoTomeandPrincipe

🔍 Significant Oil and Gas Discovery Offshore West Africa by Eni 🌍 In a landmark meeting between the President of the Republic of Côte d’Ivoire, Alassane Ouattara, and Eni's CEO, Claudio Descalzi, discussions unfolded about Eni's latest triumph in the country's energy sector. The highlight was the unveiling of the exploration well Murene 1X's successful outcomes in block CI-205, marking the Calao discovery as a milestone achievement for both Eni and Côte d’Ivoire. 🛢️ Situated approximately 45 km offshore, the Murene 1X well, drilled to a depth of 5,000 m in water depths nearing 2,200 m, unveiled light oil, gas, and condensates across various intervals of Cenomanian age, showcasing good to excellent permeability values. This exploration endeavor hints at potential resources estimated between 1 and 1.5 billion barrels of oil equivalent (Bboe), presenting a significant boost to the region's energy resources. 🤝 Eni, leading the block in partnership with Petroci Holding, is now focusing on appraisal and development strategies for this considerable find, ensuring alignment with Côte d’Ivoire's domestic energy requirements. This collaboration underscores Eni's commitment to supporting the country's energy independence and sustainability goals. 🌐 Since its entrance into Côte d’Ivoire in 2015, Eni has expanded its footprint, holding interests in six deep-water blocks (CI-101, CI-401, CI-501, CI-801, and CI-802) in collaboration with Petroci Holding. The company has notably begun hydrocarbon production from the Baleine field since August 2023, contributing approximately 22,000 barrels of oil per day (bopd) to its equity production, reinforcing its position as a key player in the West African energy landscape. 💡 This discovery not only signifies a leap forward in Côte d’Ivoire's energy sector but also marks a pivotal moment for Eni as it continues to leverage its expertise and innovative exploration strategies to unlock new energy potentials, fostering growth and development in the regions it operates. #OilAndGas #EnergySector #WestAfrica #Eni #CotedIvoire #Innovation #Sustainability

At the AEW: Invest in African Energy conference, industry experts will explore new block opportunities in Africa's mature and emerging oil and gas markets. Scheduled for November 4–8 in Cape Town, this event will showcase licensing rounds from leading upstream players and offer investors exclusive information and technical presentations from petroleum ministries and regulators. Key highlights include Libya’s plans to boost oil production with a new licensing round, Algeria's upcoming bid for onshore blocks, and significant opportunities in Egypt, Mauritania, Sierra Leone, Nigeria, Angola, South Africa, Tanzania, and Gabon.   Curtis Meintjies Vieven Ndiritu Babatunde Osadare Ikechukwu Promise Obialor Dakim Dung Petlong Dakhling Follow The African Energy Council for more energy news #AfricanEnergy #aecouncil #OilAndGas #UpstreamOil #Hydrocarbons #ExplorationAndProduction #GlobalEnergy #SustainableDevelopment #OilProduction #EnergyFuture

Liberia is set to advance its emerging oil and gas industry by inviting investors and established E&P companies to explore its extensive offshore territories. The National Oil Company of Liberia's (NOCAL) recent partnership with TGS to reprocess multi-client seismic data offshore Liberia aims to update 2D and 3D seismic data in the Liberia and Harper basins. With the first phase complete and data available for industry licensing, Liberia's proactive exploration efforts are attracting major players like ExxonMobil, which has shown interest in four exploration blocks.   Barasa Atieno Changhee Choi Mark Davies Alexia Tata Ikechukwu Promise Obialor Petlong Dakhling Dakim Dung Follow The African Energy Council for more energy news #Liberia #Aecouncil #OilAndGas #EnergyExploration #SeismicData #EnergyInvestment #SustainableGrowth #RenewableEnergy #OffshoreExploration #ExxonMobil #EnergyAccess #CleanEnergy #EnergySector 

The Angolan oil and gas ministry has announced discussions with CNOOC, a major Chinese oil company, regarding oil exploration opportunities. Led by Chairman Mr. Liu Yongjie, CNOOC's delegation is set to explore potential ventures, including block 24. President Lourenco's proactive approach to revitalising the sector through block auctions and refinery expansions underscores Angola's commitment to revitalising oil production. Afonso Zambo Clément Blaizot Ikechukwu Promise Obialor Dakim Dung Petlong Dakhling Follow The African Energy Council for more energy news #oilandgas #exploration #aecouncil #angola #CNOOC #oilandgasexploration #angola #energyindustry #ChinaEnergyPartnership #oilproduction  

The recent Production Sharing Agreement (PSA) signed for the Block 14/23 concession in the shared Zone of Common Interest (ZIC) by Cabinda Gulf Oil Company Limited (CABGOC) is a significant milestone in regional collaboration. The PSA, co-signed with the Governments of Angola and the Democratic Republic of Congo (DRC), designates CABGOC, a Chevron subsidiary, as the primary operator with a substantial 31 percent stake. The consortium includes major players like Azule Energy, BP & ENI joint venture, ETU Energias, Galp, Sonangol, and Sonahydroc SA. This strategic agreement, facilitated by the ZIC framework, exemplifies collaborative efforts to harness collective strengths, technical expertise, and regional cooperation for sustainable growth in the oil and gas sector. The signing ceremony in Luanda, attended by key government officials, underlines the commitment to enduring partnerships and exploration excellence, setting the stage for innovative endeavors in the shared maritime territories. #technicalexpertise #regionalcooperation #sustainablegrowth #collectivesuccess #oilandgasindustry #angola #drc

Mubadala Energy has announced a significant #gas #discovery from the Layaran-1 #exploration well, drilled in South Andaman, offshore North Sumatra, #Indonesia. Significantly, the discovery solidifies the basin's position as one of Asia Pacific's most promising emerging deep-water hotspots, according to Wood Mackenzie. The discovery, is one of the largest globally this year, with potential for over 6 tcf of gas-in-place marks a major development for the Southeast #Asia energy landscape. "The success of this endeavour will test the efforts made by Indonesia's authorities to streamline processes and create a more favourable investment environment," says Dr Munish Kumar, PhD, Senior Analyst for Upstream at Wood Mackenzie, . "The upcoming installation of a new Indonesian administration in late 2024 adds an element of uncertainty, but the discovery of gas and condensate at the Layaran-1 exploration well is an exciting development, placing Indonesia ahead of Guyana, Namibia, and Malaysia in terms of discovered resources in 2023." Commenting on the discovery at Layaran-1, Andrew Harwood, Director of Corporate and Upstream Research at Wood Mackenzie, says that the resource numbers are globally significant, but the road to commerciality remains difficult. https://lnkd.in/gFH28WFC

More positive #upstream #exploration news from #Indonesia - has the tide finally turned for Indonesia's upstream sector? Will operators be able to develop recent discoveries? Presidential elections loom in Indonesia in 2024, adding an element of uncertainty for developers. Nevertheless, exciting times for deepwater #gas exploration offshore Indonesia.

The government of Mozambique has awarded CNOOC five oil and gas research and development contracts! These agreements mark a step in attracting investment and advancing Mozambique's mineral resources policy. CNOOC will explore two shallow-water blocks in the Save region and three offshore blocks in Angoche, with ownership stakes ranging from 70% to 80%.    Viren Sookhun (ISPr) Saul Behrmann Nonkosi Koranteng Petlong Dakhling Dakim Dung Ikechukwu Promise Obialor Follow The African Energy Council for more energy news #OilExploration #aecouncil #GasExploration #EnergyInvestment #OilContracts #GasContracts #OffshoreExploration #OilandGasIndustry #EnergyDevelopment 

Oil giants BP and Eni find way into Namibia’s prolific Orange basin Global oil super major, BP and Eni have struck a deal to take an operating stake in a highly prospective exploration licence in Namibia's Orange basin close to Galp Energia's huge Mopane discovery and next door to acreage where Shell has made five discoveries. Azule Energy , the 50:50 joint venture between BP and Eni which brings together their Angolan assets, has struck an agreement with privately owned Rhino Resources to enter Petroleum Exploration Licence 85 which covers Block 2914A. Representing the voice of the African energy sector, the African Energy Chamber (AEC) stands in support of Azule Energy’s venture into the Orange Basin, recognizing the value of the transaction in unlocking the full potential of the country’s oil and gas resources. The deal is a testament to the prospectivity of the basin as well as the high level of international interest in Namibia’s offshore oil and gas opportunities. #namibia #oil #gas #exploration Namibia Investment Promotion and Development Board (NIPDB) bp Eni NJ Ayuk JD, MBA. WOGEN Namibia Namibia Youth Energy Forum NAMCOR NAMIBIA https://lnkd.in/dDRAPngg