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BP confirms Start Up of Kizomba Satellite Fields Offshore Angola

“This is the first of BP’s planned start-ups for 2015 and is another successful project from this prolific block,” said Darryl Willis, BP’s regional president, Angola. “We expect to follow this up later in the year with the Greater Plutonio phase 3 project in neighbouring Block 18 which is operated by BP.”

Eni Starts Production of Cinguvu Offshore Field at West Hub Development in Angola

Eni started production two weeks ahead of schedule at the Cinguvu oil field, from the West Hub Development Project in Block 15/06 in the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo. The start-up follows the achievement of West Hub’s first oil through Sangos field start-up, during last November 2014.

South Africa Backdrop still Supportive for Shale Gas

Challenger Energy (CEL) is making progress towards the award of exploration permits with the submission of the updated environmental management programme (EMPr) in late February. If the legislative framework is in place by this northern hemisphere summer, CEL could potentially be awarded a licence and commence its work programme in Q315, with corehole drilling starting 12-18 months later. Meanwhile, the power crisis in South Africa is getting worse, highlighting the need for new energy sources including gas. CEL remains in farm-out discussions. A licence award and farm-out could lead to a near-term re-rating, with longer-term upside based on drilling success.

VAALCO Energy Announces Continued Success with First Production from Etame 12-H

VAALCO Energy, Inc. (NYSE: EGY) today announced first production from Etame 12-H, a development well drilled from the Etame platform offshore Gabon.  Etame 12-H was drilled to a measured depth of approximately 3,450 meters targeting the recently discovered, untapped lower lobe of the Gamba reservoir.  Following completion operations, the well was brought online at the rate of approximately 2,000 BOPD on a gross basis (approximately 500 BOPD net to VAALCO) with no indication of hydrogen sulfide (H2S).  

Sahara Group Upstream Optimistic over Prospects from OPL 274

Sahara Group's Upstream affiliate Enageed Resource Ltd said it is making good progress with activities in OPL 274 where Sahara operates with a 100% working interest, even as the company continues to press towards optimizing opportunities in the block where last year it hit "first oil". Enageed doubled its certified 2P reserves in Oki-Oziengbe South field in Edo State, while also making a new commercial discovery with the Oluegi-1 exploration well.

SPDC completes sale of oil mining lease 18 in Nigeria

The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in oil mining lease (OML) 18 and related facilities in the Eastern Niger Delta. Its interests in OML18 were assigned to Eroton Exploration & Production Company Limited. Total cash proceeds for Shell amount to $737 million.

Variation of Nyuni Area PSA Work Programme

Aminex is pleased to notify shareholders that the Tanzanian authorities have agreed to the deferral of a two well drilling commitment on the Nyuni Area PSA, which was due to be completed by the end of October 2015, into the four-year First Extension which expires October 2019. The deferral is conditional on an Environmental Impact Assessment, which has already commenced, and the eventual acquisition of 3D in the deep water which will be subject to completion of a tendering process.

Eni signs a framework agreement for the development of Egypt's oil and gas resources

The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, signed today with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the Country while preserving the return of Eni’s investments.

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