Karoon Energy Ltd has announced the Stena Forth drillship has commenced the drilling of the Marina-1 exploration well located in Block Z-38 Tumbes Basin, Peru. The wholly owned, Karoon subsidiary, KEI (Peru Z-38) Sucursal del Peru is the operator and has a 40% net interest in Block Z-38. The drilling operation is estimated to take […]
Tag: tullow oil
Total and Tullow launch joint sale of stakes in Kenyan oil project: sources
LONDON/ PARIS (Reuters) – Total ( TOTF.PA ) and Tullow Oil ( TLW.L ) aim to reduce their stakes in Kenya’s first oil development with a joint sale that could see Tullow exit completely amid uncertainty over the project’s launch, banking and industry sources said. FILE PHOTO: A worker at a Tullow Oil exploration drilling […]
United Oil & Gas awaits farm-out as Tullow agrees extension for ‘drill or drop’ decision in Jamaica
United Oil & Gas PLC ( LON:UOG ) told investors that Tullow Oil PLC ( LON:TLW ), partner and operator for its high potential Jamaica exploration project, has reached an agreement with the Jamaican authorities to extend the initial exploration licence period by six months. It means that a ‘drill or drop’ decision will need […]
Providence Resources names Linn as its new CEO
Providence Resources names its new CEO Exploration company Providence Resources has appointed Alan Linn as its new chief executive. Mr Linn also joins the Providence board as an executive director. He has over 35 years of international oil and gas industry experience and after starting his career in the UK, has worked internationally with Lasmo, […]
Ghanaian firm builds first FPSO modules
File photo Ghana’s quest at playing a pivotal role in the oil and gas industry has received another significant boost with the design and fabrication of two topside FPSO modules at the Takoradi Port by wholly Ghanaian owned Belmet 7. The two topside FPSO modules, which are a pigging skid and a hang-off platform, are […]
Ten Ghanaians who secured bigger roles in the corporate space in 2019
The Ghanaian corporate landscape saw a number of movements in 2019 The Ghanaian corporate landscape saw a number of movements as key personnel got new appointments, while some left their roles for various reasons. In this piece, we take a look at some of the corporate movements that made the headlines. Patricia Obo-Nai, Vodafone Ghana […]
Oil price rises on war fears as US kills Iran military commander General Qasem Soleiman
Oil prices spiked today War fears gripped the global markets today after the US killed Iran’s most powerful military commander General Qasem Soleimani. Oil and gold prices soared as traders feared Iran could retaliate after the Middle East country’s leaders vowed to take “severe revenge” over the general’s killing in Iraq. Brent crude was up […]
UK WINNERS & LOSERS SUMMARY: Tullow Sinks As Oil Find Lags Estimates
(Alliance News) – The following stocks are the leading risers and fallers within the main London indices on Thursday. ———- FTSE 250 – WINNERS ———- IP Group, up 2.7%. IP Group’s portfolio company Oxford Nanopore Technologies has raised GBP29.3 million of new capital. IP Group’s stake in Oxford Nanopore will be 16% upon completion of […]
Tough year for firms as Tullow deal is delayed
CNOOC and Total failed to align their positions with the govt over the $185m capital gains tax. Total said it could not continue to spend money on technical teams when there was no clarity on the way forward. Oil companies were first expected to reach Final Investment Decision by December 31, 2017. The collapse of […]
Uganda: Tough Year for Firms As Tullow Deal Is Delayed
The collapse of talks between the Ugandan government and British firm Tullow over a tax dispute, the plunge of the latter’s stock price at the London Stock Exchange and the delay of a Final Investment Decision (FID) marked a difficult year for the country’s efforts to move exploration of its vast fields into oil production. […]