Page 4 - First Exploration News Today

FAR and Petronas have found additional, material exploration opportunities in the A2 and A5 blocks offshore Gambia.

Advertisement For Mele Kyari, it will be two years in the saddle as the Group Managing Director (GMD) of the NNPC, a period that has tried his guts and gusto. The geologist was appointed in 2019 to manage the state-run oil Corp and average oil price when he was given the responsibility to run NNPC was $56.99 per barrel. His jobs were immediately cut out: manage the corporation’s fiduciary responsibilities to Nigeria in the midst of the volatile and keep it afloat regardless. Advertisement In...

By Pierre-Olivier Rouaud The acquisition of oil block OML 17 from Total and Shell should allow Tony Elumelu’s group to shake up the hierarchy of local oil operators. On 15 January 2021, Trans-Niger Oil & Gas Limited (TNOG) and Transcorp plc, two of the companies in the galaxy of 58-year old tycoon Tony Elumelu – along with his Heirs Group – bought 45% of OML Block 17 from Shell (30%), Total (10%) and ENI (5%). The acquisition is estimated to be worth over $800m. “Who would have...

Cameroon: Tower Resources provides update on the Thali licence, offshore Cameroon 19 May 2021 Thali license in Cameroon held by its subsidiary Tower Resources Cameroon, and the NJOM-3 well. The Company has now received formal confirmation from the Minister of Mines, Industry and Technological Development (MINMIDT) of the details of the formal extension of the First Exploration Period of the PSC. As previously announced the Company declared Force Majeure in March 2020 in respect of the First ...

Cameroon extends British Tower Resources’ license on Thali Block (Business in Cameroon) - On March 31, 2021, British oil and gas company Tower Resources officially announced that the Cameroonian government had agreed to extend its license on the 119.2 km 2 Thali Block in the Rio del Rey basin. Thanks to the new extension, Tower Resources, and its partners will continue with drilling operations on the Njom-3 well, where preliminary operations started in 2019 but were halted in 2020 ...

IN BRIEF: Tower Resources gets further extension for Thali license Wed, 31st Mar 2021 22:05 Tower Resources PLC - Africa-focused oil and gas company - Says Government of the Republic of Cameroon has notified its subsidiary that the president of the Republic has approved a further extension of the First Exploration Period of the Thali license. Company is now awaiting a formal confirmation from the Minister of Mines, Industry & Technological Development of the details of the extension. "We are gr...

  Tower Resources plc (TRP.L, TRP LN), the AIM listed oil and gas company with its focus on Africa, is pleased to announce an update regarding planned operations on the Thali license (the "PSC") in Cameroon held by its subsidiary Tower Resources Cameroon SA ("TRCSA"), and the NJOM-3 well. The Government of the Republic of Cameroon has notified TRCSA that the President of the Republic has approved a further extension of the First Exploration Period of the PSC, and the Company is now awaiting a ...

Nzube Nlebedim, Nigeria Field Editor February 4, 2021 Image: YouTube Following the one-billion-dollar acquisition of OML 17from Shell last month, Heirs Oil & Gas Ltd. has pledged to boost production from the onshore block to 100,000 barrels per day (bpd).   Success in achieving the production target would not only restore the block to its peak production level, but also make Heirs Oil & Gas Ltd. one of the largest indigenous operators in the country by output, al...

ON THE GO Gbenga Daniel: I joined APC because it offers many options Gbenga Daniel, a former governor of Ogun, says he joined the All Progressive Congress (APC) because the party “offers too many options”.Advertisement Daniel spoke on Monday when he was received... Reps panel summons army chief, Emefiele over arms purchase A house of representatives committee has summoned Attahiru Ibrahim, chief of army staff (COAS), to clarify issues concerning arms purchase for the Niger...

Nigerian independent producer Heirs Oil & Gas Ltd. plans to restore an oil block acquired from Royal Dutch Shell Plc to its former output levels to make it one of the country’s biggest local operators. Heirs finalized last month its purchase of an operating stake in a permit known as Oil Mining Lease 17 in a deal worth more than $1 billion. The transaction is the latest in which Nigerian firms have bought onshore or shallow offshore licenses from international oil majors that are reducing the...