Page 7 - First Exploration News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 Indeed, Kyari’s selection to head the NNPC was roundly applauded by his colleagues in and out of th...

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 thought that when we started this journey, all those years ago, it would take us the better part of...

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 Exploration Period of the PSC, in light of the restrictions required to combat the Covid-19 pandem...

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 due to the coronavirus restrictive measures.   " We are grateful to the Republic of Cameroon for ...