Upstream

………Moves to a smaller Office Space……… …….by Victor Egbo…….. ExxonMobil, one of the International Oil Companies in Nigeria has started to reduce its operating structures in preparation for plans to divest the company equities in the onshore businesses. This is because the ExonMobli/Seplat deal is near completion. The Nigerian National Petroleum Company (NNPC) Limited yesterday Thursday, announced the signing of ...

Finally, there is hope on the horizon for the ExxonMobil/Seplat deal, as the Nigerian National Petroleum Company (NNPC) Limited has announced the signing of a settlement agreement facilitating the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Plc. The NNPC in a statement on Thursday said the entities that signed the agreement include MPNU, Mobil ...

Poto : Managing Director, NNPC Energy Services Limited (EnServ), Sophia Mbakwe (5th from right) and Chief Executive Officer, Schlumberger (SLB), Mr. Olivier Le Peuch (4th from left) exchange documents shortly after the signing ceremony of a technical partnership agreement on bolstering upstream operations between the two companies, held at the NNPC Towers in Abuja, on Thursday. …As Kyari Reiterates Company’s Resolve ...

In the midst of deteriorating oil production, the American oil giant, Chevron has decided to offload some of its assets in Nigeria for sale. The Multinational, like its competitors, Shell, ExxonMobil and Agip is putting on offer its stakes in two Nigerian offshore oil and gas blocks.It is understood that the company seeks to dispose of ageing assets to focus ...

NNPC Exploration and Production Limited (NNPC E&P Ltd), NNPC Ltd’s flagship upstream subsidiary, and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), announce the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State, Nigeria.The production, which commenced on the 6th of May 2024 with 6,000 ...

As part of its Corporate Social Responsibility (CSR) initiatives, the Nigerian National Petroleum Company Limited (NNPC Ltd) and First Exploration & Production Limited (First E&P) joint venture (JV) has donated the sum of N53million to non-governmental organizations (NGOs) in Nigeria.Under the JV’s Impact First Initiative, the donation, targeted towards enhancing societal welfare, would address areas such as good healthcare and ...

Bonga, Nigeria’s first deep-water development has been an outstanding producer due to effective leadership, cutting-edge technology, continuous improvement, integrated delivery and collaboration with partners and stakeholders, Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni. said on Thursday at the 2024 Offshore Technology Conference in Houston, Texas in US. Since coming on stream in November 2005, Bonga has ...

……..by Victor Egbo…….The federal government of Nigeria is seeking for offshore investement for the the forth-coming 2024 bid round. Moreso, the government has placed premium on investors with enough financial capacity and technical knowhow. Although the government has pledged to conduct a fair and transparent bid for interested local and foreign investors. According to the Nigerian Minister of State for ...

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will showcase its 2024 licensing round at a dedicated “Invest in Nigeria” session at the Invest in African Energy forum in Paris next week. Responsible for the technical and commercial regulation of upstream petroleum operations in Nigeria, the Commission will unveil its energy development strategy for 2024, including its latest licensing round launched ...

………..by Ben Ndubuwa….Oando, one of the indigenous oil and gas company, has projected that it would up its crude production to 50,000 barrels per day and target 100,000 barrel per day in four years time an oil equivalent after the conclusion of the landmark deal with Eni. Alex Irune, Oando’s Chief Operating Officer, told S&P Global Commodity Insights at the ...