The independent U.S. energy producer aims to take a final investment decision on the $20 billion project in the coming months, having signed up long-term buyers for its LNG.
The first circulated draft of the much anticipated hydrocarbon law in Algeria, has shown that the government has loosen up the law in a move that aims to attract more foreign investors to the energy sector in Algeria. The question is, will it be passed amid contentious political transition?
Irving, Texas-based Exxon entered talks with Algeria’s national oil company Sonatrach several months ago to develop a field in the southwestern Ahnet Basin, the sources close to the discussions said.
Sudan’s Foreign Ministry said on March 21 it has summoned Egypt’s ambassador to Khartoum, Hossam Issa, over Egypt offering oil and gas exploration blocks “in Red Sea areas subject to Sudanese sovereignty.”
Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40% this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.
Vitol said its traded crude and products volumes rose to 7.4 million barrels per day last year, up from 7.2 million in 2017.
Eco said the Orinduik Block contained 3.5 billion barrels of recoverable oil and 2.84 trillion cubic feet of associated gas.
lAgeria's newly appointed prime minister has started talks to form a new government, state media reported on Sunday, in a move designed to placate protesters demanding President Abdel Aziz Bouteflika and his inner circle step down.
Eni, which in 2018 produced 1.85 million barrels per day (MMbbl/d), was struggling to replace reserves a decade ago but giant gas finds in Mozambique and Egypt have since given it the strongest discovery record in the industry.
Eni said March 14 it has made a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km (31 miles) North of the Sinai peninsula.
