OGV Group’s Post

Norway to Add 37 Blocks to Annual Oil, Gas Licensing Round

Norway Grants 62 Licenses in Mature Oil, Gas Areas

bpTT’s decision to sell some of its mature gas fields in Trinidad & Tobago to Perenco, presents an excellent opportunity for Trinidad & Tobago to continue to produce natural gas from these fields well into the future. In a mature oil and gas province like T&T it is important to have a good mix of different upstream operator companies, each with different strengths and capabilities. Major exploration campaigns and greenfield developments need major multi-national oil and gas companies with the necessary resources. https://lnkd.in/ewg5TbcD

Suriname Oil and Gas project in Block 58 arrives to a FID taken by TotalEnergies and APA. France's TotalEnergies and U.S. APA Corp on Tuesday announced a positive investment decision for Suriname's most promising oil and gas project, Block 58, which is expected to inaugurate the nation's offshore output. TotalEnergies expects to begin output at the $10.5 billion project in the first half of 2028. Reuters on Monday disclosed the agreement for the financial greenlight. TotalEnergies and APA plan to develop the Sapakara and Krabdagu fields, renamed as "Gran Morgu", with combined recoverable resources estimated above 700 million barrels. A Floating Production Storage and Offloading (FPSO) facility being built in Asia for the project, with a 200,000-barrel-per-day capacity, is expected to be one of the company's largest, Pouyanne said. That contract, along with others including energy infrastructure builders SBM Offshore and Saipem represent a total of $7 billion, he added. A total of 32 new wells will be drilled as part of a field development plan approved and signed by TotalEnergies and APA on Tuesday, the companies said. TotalEnergies, the project's operator, plans to recover about $1.4 billion spent in exploration in the area since 2019. Staatsolie, which has been raising funds to participate with a 20%-stake in the project, secured a first $175 million payment and is now in talks with banks and planning a bond offer to complete a second payment, CEO Jagesar said. Pouyanne said a deadline for Staatsolie to complete its investment commitment could be extended through December next year if necessary. Suriname is working to secure comparatively larger revenues through a legal framework including higher royalties and taxes, and signing bonuses that plan to be reinvested in healthcare and local content.

Seal of approval for UK oil & gas firm to expand its stake in Angolan offshore blocks   UK-headquartered and AIM-listed company Afentra plc – through its wholly-owned subsidiary, Afentra (Angola) Ltd – has received the Angolan government’s blessing to boost its interest in two blocks off the coast of Angola. 🔽 Find more info in comments below 🔽 #UKOilandGas #AfentraPlc #AngolanOffshoreBlocks #AIMListed #AfentraAngolaLtd #CleanEnergy #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

📢 The UK-based oil and gas company Tower Resources has received a proposal to finance its planned #drilling campaign in Africa via a farm-out of a minority interest in a production sharing contract (#PSC) for an #asset #offshore #Cameroon. 🏗️ A well was due to be spud in the African country this year but #rig unavailability and the ongoing farm-out process threw a wrench in the firm’s plans. The drilling activities are now being targeted to kick off early next year. 📃 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝗺𝗼𝗿𝗲: https://buff.ly/3ZG1tB8 #energy #fossilenergy #oilandgas #oilandgasnews #BorrDrilling

I am excited to share a strategic move for the Equinor US portfolio. This deal underscores Equinor’s commitment to build a balanced and broad portfolio in the US.  This is a counter-cyclical move to grow our position in a lower carbon intensity asset that has performed well even during a period of historically low gas prices.  We believe that natural gas produced with world-class carbon intensity will be an essential part of meeting growing power demands in the future.

Brazil's Upcoming Oil and Gas Tender Highlights

PetroSA Pursues Mozambique Gas Under New Sales Deal South Africa’s National Oil Company (NOC) PetroSA is set to receive gas from Mozambique’s NOC ENH under a new sales deal, with initial deliveries expected later this year. Facilitated by PetroSA’s recent acquisition of a gas trading license, the deal involves an annual supply of 2 petajoules (PJ) of gas, with the potential to increase to 200 PJ over time. This initiative aims to mitigate impending gas shortages, particularly impacting industrial consumers such as steelmaker... Read more on the link below https://lnkd.in/gHymYcch

Sunda Energy provides update on oil and gas operations in SE Asia