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TechnipFMC plc: TechnipFMC Awarded a Significant Integrated EPCI (iEPCI) Contract for Tullow s Jubilee South East Development, Ghana
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TechnipFMC plc: TechnipFMC Awarded a Significant Integrated EPCI (iEPCI) Contract for Tullow s Jubilee South East Development, Ghana
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Investegate |Tullow Oil PLC Announcements | Tullow Oil PLC: Report on Payments to Govts
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Maersk Drilling confirms long-term drillship contract with Tullow Oil offshore Ghana The Drilling Company of 1972 A/S Kgs. Lyngby, DENMARK
Based on the
previously announced Conditional Letter of Award, Maersk Drilling has been awarded a contract from Tullow Ghana Ltd. for the provision of the ultra-deepwater drillship Maersk Venturer and additional services for a development drilling campaign at the TEN and Jubilee fields offshore Ghana. The contract commenced in April 2021, with an estimated duration of around four years. The estimated contract value is approximately USD 370m, excluding additional services provided and potential performance bonuses.
The contract has a progressive day rate structure for the full duration. However, the contract contains certain provisions which, after an initial period of 18 months, permit a shift to a market-linked day rate structure and early termination for convenience by Tullow Ghana Ltd.
Date: May - 04 - 2021 , 15:35
BY: Dotsey Koblah Aklorbortu, SEKONDI-TAKORADI
Category: Business News
The country’s oil industry experts have warned that the agreement allowing for the importation of liquefied natural gas (LNG) poses a direct risk to the investment plans of international oil companies (IOCs) interested in the upstream oil and gas activities.
With the current volume of gas from the country’s fields and Nigeria, adding LNG imports holds the potential to discourage investors and send existing investors from further investment in the country’s upstream sector.
This follows the emergence of Shell LNG, which has entered into a take-or-pay agreement with the national oil company – Ghana National Petroleum Corporation (GNPC) when the country’s domestic gas and supplies from Nigeria remain sufficient.