Africa Oil & Gas: Nigeria State Oil Firm Production Costs Cut To $23

 

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The NNPC “has driven down the cost of crude oil production by 70.5%

ABUJA/LONDON, (Reuters) – Nigeria’s production cost per barrel of crude oil is down to $23, the state oil company said on Wednesday, after the country last month said the cost was $29 a barrel, one of the highest levels in the world. Continue reading

INDUSTRY EVENTS: Africa Oil Week 2017 announces dynamic, forward-looking programme

 

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Industry Event  proudly brought to you by ITE

London, 18 August 2017 – ITE, organiser of top international oil and gas events, is pleased to announce details of the programme for the 24th Africa Oil Week, the world’s longest running oil and gas conference on the African continent, to be held in Cape Town, South Africa, from 23-27 October. Continue reading

Africa Oil & Gas: Egypt to slice LNG imports to 80 cargoes as domestic gas output grows

 

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LNG imports slice due to higher domestic production

Egypt is reportedly planning to significantly scale down imports of liquefied natural gas (LNG) in the current financial year as its domestic gas production continues to rise. Continue reading

Industry & Enviroment: “Gas Is Key To Solving Climate Change” – by MarcoAlvera

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Natural Gas

Fighting climate change and improving air quality are among the most pressing challenges of our time. Natural gas will play a significant role in addressing these challenges. For Europe, 2017 and 2018 are crucial years as 3 major pieces of legislation are being discussed: the Clean Energy Package, the Emissions Trading System Reform, and the Mobility Package.

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Global Oil & Gas: The outlook for Floating Storage and Regasification Units – by Brian Songhurst

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Floating storage and regasification unit (FSRU); Illustration

FSRUs are a game changer providing a lower cost, fast track and flexible alternative to traditional onshore LNG import terminals. The first unit entered service in 2005 and today there are 23 FSRU terminals in operation.

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Africa Oil & Gas: Erin Energy spuds Oyo-9 well offshore Nigeria

 

Erin Energy has commenced drilling of the Oyo-9 well. The well is being drilled with the Pacific Bora sixth-generation drilling rig on the Oyo field offshore Nigeria.

 

The well is expected to take approx. 62 days to drill and complete. The tie-in of the well to the FPSO for production commencement is expected in the later part of the fourth-quarter 2017. The well is expected to add an additional 6,000 to 7,000 barrels of oil per day to the field’s current production. (Source: Erin Energy)

Africa Oil & Gas: Sirius Petroleum signs US$10 million financing agreement with BP in Nigeria

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Image courtesy by Sirius Petroleum

AIM-listed Sirius Petroleum, the investing company focused on oil and gas exploration and development opportunities in Nigeria, has announced that, following completion of technical due diligence on the Ororo field, the Company has entered into a US$10m revolving pre-payment facility and commercial offtake agreement in respect to the sales of the crude produced from the Ororo field, with BP Oil International, a subsidiary of BP. Continue reading