News And Updates
Lekoil Raises Funds for Nigerian Asset Development November 01, 2013
West Africa-focused Lekoil reported Friday that it has raised $100 million that it plans to use to fund the completion of drilling and testing of the Ogo-1 well and sidetrack as well as the future development of its OML 113 license in Nigeria. More…
Nigeria Commissions Thermal Plants Without Fuel Supply October 23, 2013
Goodluck Jonathan, the Nigerian president, has commissioned the second gas-fired thermal plant in two weeks without adequate gas supply.
Like the Geregu power plant he unveiled on October 4, 2013, most of the turbines in the Omotosho II power station will be idle for the next 12 months, according to sources in the ministry of power. More....
Oil Traders Move Aggressively Into African Upstream October 19, 2013
Crude oil traders are investing aggressively in the African upstream landscape. They are funding farm-ins into acreages held by independents in Ghana, operating rank wildcat assets off Cote d’Ivoire and buying oil even before the wells are drilled in Nigeria.
“If you are a serious independent with sound field development plans”, says Sam Ojibua, an energy analyst in Johannesburg, “the big Crude Oil traders are ready sources of funds for your project”. More...
Chevron Returns To Drill Site In Nigeria October 16, 2013
Chevron Nigeria has contracted the rig Adriatic IX for a six month drilling activity in shallow water western Niger Delta Basin. The jack-up, owned and managed by Shelf drilling, will be active on four wells in the Meren field between now and April 2014.
This marks a return of the Chevron/NNPC joint venture to shallow water drill-site in Nigeria. More...