Upstream

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday, disclosed that it has commenced the process for the 2024 oil bid round with 12 oil blocks on offer and seven deep offshore blocks from last year’s bid round. The Commission Chief Executive, Engr. Gbenga Komolafe who disclosed this at the inaugural NEITI House Dialogue in Abuja, said the process will be ...

Mr. Franklin Umole, Director of Business Development, Axxela Axxela Limited, a leading gas and power portfolio company in Sub-Saharan Africa, announces that it has taken Final Investment Decision for the development of a gas processing plant situated in OML 56, Delta State, South-South Nigeria. This strategic investment marks yet another significant stride towards delivering on Axxela’s commitment to deepen domestic ...

Keen on optimising production from the nation’s hydrocarbon assets to boost revenues and meet the nation’s OPEC production quota, the Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd, have restarted production from the Awoba field which last contributed production to the Bonny Terminal in 2021 and ...

The Nigerian National Petroleum Company Limited (NNPC Ltd) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture has announced the commencement of oil production from the Madu Field in Oil Mining Lease (OML) 85. The OML 85 is in the shallow waters offshore Bayelsa State (Nigeria), with FIRST E&P as operator on behalf of the NNPC/FIRST E&P ...

…Threatens to Revoke licenses as only 5 Of 60 Marginal Oil Licences are in use…. ……….by Ben Ndubuwa….The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has expressed dissatisfaction over the non-performance of most of the marginal field license holders and has threatened that the federal government would not hesitate to take back oil assets, as only five out ...

TotalEnergies’ Egina is the flagship offshore project that is for six years now is still constantly going through innovations to meet the challenges associated with ultra-deep offshore projects. One such example is the Vclay subsea production system that gives the teams more in-depth information and a more accurate understanding of the reservoir and the well positions. Located some 130 kilometers ...

……..by Victor Egbo……… The   Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr. Gbenga Komolafe, has said that the sustained rise in exploration was due to the positive impact of Nigeria’s Petroleum Industry Act (PIA). This upward trend in  oil and gas exploration activities is seen to have persisted in February  as  the rig count, an index of measuring upstream activities, ...

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, announces that it has signed separate Share Purchase Agreements (“SPAs”) with Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) and Jagal Ventures Limited (“Jagal”) to acquire 100% of the outstanding share capital of Sinopec International Petroleum Exploration and Production Company Nigeria Limited (“SIPEC”) (the ...

Oil major’s departure from the Nigerian onshore oil business offers opportunities for local firms, but could also leave a financing gapOn 16 January, Shell announced an agreement to sell its Nigerian onshore oil and gas subsidiary, Shell Petroleum Development Company of Nigeria (SPDC), to a consortium of local firms for up to $2.4b. The deal aligns with Shell’s previously stated ...

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, says Nigeria recorded capital expenditure (Capex) worth billions of dollars within the last two and a half years characterised by the implementation of the Petroleum Industry Act (PIA). Komolafe, stated this at the weekend in Lagos after receiving The Sun Public Service Award 2023, during the ...