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BW Kudu Limited, a wholly owned subsidiary of BW Energy Limited and the National Petroleum Corporation of Namibia (NAMCOR) have signed a Farm-In and Carry Agreement that increases BW Kudu’s working interest in the Kudu license offshore Namibia from 56% to 95% in line with previously disclosed intentions. NAMCOR will retain the remaining 5% working interest.
The agreement is subject to the approvals of BW Kudu’s and NAMCOR’s Boards as well as Namibian regulatory authorities. The agreement gives NAMCOR the opportunity to acquire an additional 5% working interest post first gas, while BW Kudu will pay US$4 million at completion of the transaction and carry NAMCOR’s share of development costs until first gas.
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Equatorial Guinea outlines a path towards oil industry’s recovery SweetCrude Reports Map depicting Equatorial Guinea oil acreage The first positive signal comes from the latest investment expectations coming out of the evaluation of 2021 work and budget programs from upstream operators
JOHANNESBURG, South Africa Like the rest of African petroleum producers, Equatorial Guinea has been through a year like no other. The travel restrictions imposed by the Covid-19 pandemic, coupled with a historic crash of oil prices, have sent its hydrocarbons industry in a deep crisis of uncertainty. However, the country’s industry has proved resilient and a strong dialogue between government authorities and companies has already laid the basis of a recovery in 2021.
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Like the rest of African petroleum producers, Equatorial Guinea has been through a year like no other. The travel restrictions imposed by the Covid-19 pandemic, coupled with a historic crash of oil prices, have sent its hydrocarbons industry in a deep crisis of uncertainty. However, the country’s industry has proved resilient and a strong dialogue between government authorities and companies has already laid the basis of a recovery in 2021.
The first positive signal comes from the latest investment expectations coming out of the evaluation of 2021 work and budget programs from upstream operators. They include over $1.1bn of investment forecast: $832.4m of investment commitment and $370m of contingent investment. Such figures are extremely encouraging for the upstream sector in the Gulf of Guinea and will inevitably result in an increase of oil & gas production fro
Like the rest of African petroleum producers, Equatorial Guinea has been through a year like no other. The travel restrictions imposed by the Covid-19 pandemic, coupled with a historic crash of oil prices, have sent its hydrocarbons industry in a deep crisis of uncertainty.
However, the country’s industry has proved resilient and a strong dialogue between government authorities and companies has already laid the basis of a recovery in 2021.
The first positive signal comes from the latest investment expectations coming out of the evaluation of 2021 work and budget programs from upstream operators. They include over $1.1bn of investment forecast: $832.4m of investment commitment and $370m of contingent investment. Such figures are extremely encouraging for the upstream sector in the Gulf of Guinea and will inevitably result in an increase of oil & gas production from Equatorial Guinea next year. 2020 already managed to maintain production around 282,700 boepd, including 115,250 b
Like the rest of African petroleum producers, Equatorial Guinea has been through a year like no other. The travel restrictions imposed by the Covid-19 pandemic, coupled with a historic crash of oil prices, have sent its hydrocarbons industry in a deep crisis of uncertainty. However, the country’s industry has proved resilient and a strong dialogue between government authorities and companies has already laid the basis of a recovery in 2021.
The first positive signal comes from the latest investment expectations coming out of the evaluation of 2021 work and budget programs from upstream operators. They include over $1.1bn of investment forecast: $832.4m of investment commitment and $370m of contingent investment. Such figures are extremely encouraging for the upstream sector in the Gulf of Guinea and will inevitably result in an increase of oil & gas production from Equatorial Guinea next year. 2020 already managed to maintain production around 282,700 boepd, including 115,250 bopd