Offshore Africa Magazine

Also, watch out for the 3rd Africa Energy Summit in June, in Accra.

Tanzania, Mozambique Pursue Unitization of Gas-Rich Blocks Tanzania’s Petroleum Upstream Regulatory Authority (PURA) and the National Institute of Petroleum (INP) of Mozambique are finalizing details of unitization of oil and gas blocks transcending their common maritime border. Officials reckon the agreement could reshape East Africa’s energy landscape with rich benefits. Unitization is the joint, coordinated operation of a petroleum reservoir by all the different owners of the reservoir. It is the best mechanism for ensuring the maximum recovery of hydrocarbons. PURA’s Director General Charles Sangweni explained that the arrangement was driven by the “unique geographical location of these gas reserves.” Representatives of Tanzania and Mozambique have met in recent times to negotiate the complex and delicate processes to establish the overlaps and arrive at reasonable outcomes. Read More: https://lnkd.in/eHEmfeDZ #Tanzania #Mozambique #upstream #regulations #unitization #energy #Africa #oilandgas

Global Fossil Fuel Subsidies Expand Despite Energy Transition Calls Governments around the world agreed at the COP26 climate summit in Glasgow two years ago to phase out “inefficient” fossil fuel subsidies to help fight global warming. Since then, however, global fossil fuel subsidies have risen $2 trillion to $7 trillion, according to the International Monetary Fund, as governments around the world moved to protect consumers from rising energy prices. Read More: https://lnkd.in/ePqbHgCc #Global #fuel #energy #energyTransition #IMF #Fossilfuel #globalwarming #climate #climatesummit #government

Jubilee Field to Ramp up Oil Production in 2024 Crude output in Ghana’s Jubilee field will continue its growth trajectory in 2024, with additional barrels of daily production expected to be achieved. The start-up of the Jubilee Southeast development last June significantly lifted output at Jubilee. Net production was around 68,000 barrels of oil a day before the project came on stream. Three producers were brought online during this quarter, taking gross production up to around 100,000 barrels of oil per day, an unprecedented feat in the life of the field. Read More: https://lnkd.in/evxnGDFk Kosmos Energy Tullow Oil #Jubilee #oilandgas #upstream #exploration #project #Crude #Ghana #production #Energy

Oil Majors are Back in Monrovia Liberia’s new strategy of direct negotiation, consistency and aggressive engagement with investors have revived the interest in major international oil companies in the country’s frontier offshore basins. For instance, super majors like ExxonMobil and Shell have shown huge interest in exploring Liberia’s basins. Negotiations are ongoing to finalize deals that will see major investments come into its oil and gas industry. Thirty-three offshore blocks, twenty four (24) in the Liberian basin and nine blocks in the Harper basin are up for grabs. There are available 2D and 3D seismic data on the acreages. The Liberian basin is largely underexplored, with only 17 exploration wells drilled since the 1960s. Subsequent exploration wells drilled by International Oil Companies (IOC)’s between 2010 and 2017 were termed sub-commercial discoveries. However, it is very instructive to note that recent seismic and post-drilling data has proven that the basin is highly prospective. Read More: https://lnkd.in/e3wG8Zq2 Rufus Tarnue #Liberia #Africa #oilandgas #exploration #upstream #IOC #Shell #ExxonMobil #projects #engagement #investments #International

Managing Supply Chain in Emerging Markets (EMs) Globalization is taking a trend from the major western economies to the east and new markets are quickly emerging. This development poses many opportunities and challenges to supply chain organizations. One that companies who takes the risk today to understand and development a formidable strategy to leverage the benefits of these new markets will be the winners in the long run. In today’s global economy, one can hardly find a supply chain that does not cut across geographical boundaries at some point. Global supply chains offer many significant advantages to multinational customers, including access to diverse sources of knowledge and innovation, access to new customers and materials, and cost advantages due to less expensive labor, and the motivation of government incentives to list a few. Some of the most attractive locations for suppliers are in emerging markets, which are characterized by companies and governments that are eager to attract global customers. Read More: https://lnkd.in/eC_F3znt Salamatu Mahamudu, CSCP, LLB, BSc, MBA #supply #markets #Globalization #logistics #BakerHughes #strategy #companies #newYear

Ghana’s Onshore Voltaian Basin Could be the Bomb The drilling of a defining exploratory well at Ghana’s onshore Voltaian basin in 2024 has the potential to re-write the country’s narrative in oil production on the continent. In line with its object to undertake exploration, development, production and disposal of petroleum as prescribed by Section 2(1) of the Ghana National Petroleum Act 1983, the National Oil Company, Ghana National Petroleum Corporation (GNPC), is set to drill a stratigraphic well at the onshore Voltaian basin. Stratigraphic test well applies to any well or hole drilled for the purpose of gathering information pertaining to a specific geological condition with no intent to produce oil and gas from such well. “GNPC’s plan to drill a stratigraphic well in 2024 is on course. Information from the drilled well will energise GNPC’s exploration drive in the basin,” said Michael Aryeetey, General Manager, Exploration and Appraisal at GNPC. Already, the Corporation is excited about a likely discovery, which will no doubt open up the unexplored basin for hydrocarbon exploration and production. Read More: https://lnkd.in/e4DZi2kF #GNPC #VoltaianBasin #exploration #discovery #upstream #Ghana #Africa #projects #gas #oilandgas #energy #newyear #NewYear2024