VAALCO Energy, Inc. announced that production at its Etame and Avouma / Tchibala fields in offshore Gabon, West Africa, has successfully been restored following the planned upgrade to the Floating Production, Storage and Offloading (FPSO) facility serving these fields.
During the upgrade, VAALCO installed an expanded flare system and increased the water processing capacity at the [...]
Marathon Oil Corporation announced the completion of the sale of its non-operated interests in the Heimdal infrastructure, related producing fields and associated undeveloped acreage offshore Norway. Centrica plc, the parent company of British Gas, acquired the interests for a total value of $416 million, which includes a $375 million purchase price and $41 million in [...]
Marathon Oil Corporation announced that its Board of Directors has sanctioned two Gulf of Mexico development projects, Droshky and Ozona. The Board approved a total project cost of $1.3 billion for the Droshky development and $300 million for the Ozona development.
“As we continue to strengthen Marathon’s Gulf of Mexico portfolio, the Droshky development will add [...]
The Shenhua Ningxia Coal Industry Group and its partner Sasol, today signed a contract with Foster Wheeler International Corporation and Wuhuan Engineering Company to carry out the Feasibility Study for an 80 000 bbl/d coal to liquids (CTL) plant at the Ningdong Chemicals Base in the Ningxia Hui Autonomous Region of China.
The Ningdong base is [...]
VAALCO Energy, Inc. announced that Gregory R. Hullinger has been named Chief Financial Officer of the Company. Mr. Hullinger succeeds W. Russell Scheirman, who will continue as VAALCO’s President and will assume the additional position of Chief Operating Officer.
Mr. Hullinger, 55, joins VAALCO with more than 30 years of finance, accounting and tax experience at [...]
Sasol Petroleum International (SPI) has obtained a 51% working interest in four hydrocarbon prospecting licenses covering a land area of 37 000 square kilometers, close to established gas fields in the “foreland” area of Papua New Guinea. Seismic surveying is scheduled to commence in October 2008.
The exploration work will be carried out by newly formed [...]
Addax Petroleum Corporation, announced that it has acquired a 50 per cent interest in the Gryphon Marin license area subject to final Government of Gabon approval. Addax Petroleum will become operator of the Gryphon Marin license area which is immediately west of the Corporation’s Iris Marin and Ibekelia license areas and immediately north of the [...]
Cameco Corporation announced it has formed a strategic alliance with Govi High Power Exploration Inc. (GoviEx) and acquired an approximate 11% interest in the company for $28 million (US).
GoviEx is a closely held exploration company formed in 2006 with uranium exploration assets in Niger, Africa. The company holds about 2,300 square kilometres of exploration [...]
Violence, corruption and unrealistic demands from foreign investors have benefited natural gas development across Sub-Saharan Africa by driving investment from Nigeria into many other competing countries. A study by Zeus Development Corp. finds that 29 of 47 countries that comprise the subcontinent are now improving gas-development policies and advancing projects.
“From Senegal around the Cape of [...]
Harvest Natural Resources, Inc. announced the successful acquisition of significant additional leasehold covering its prospective Bay Exploration Area located near Galveston, Texas. This completes the lease acquisition phase in this area. Harvest and its partners now control a major position in the Bay prospective area containing 13 identified leads in the regionally prolific Frio and [...]
