The Aker Energy-led Deepwater Tano Cape Three Points (DWTCTP) block offshore Ghana has received funding from Africa Finance Corp. (AFC), according to a news release.
Despite lower supplies, crude oil prices have fallen from a six-month high above $75 a bbl in April to below $63 on July 5, pressured by concern about slowing economic growth
Brent oil ticked higher on Friday, supported by tensions over Iran and the decision by OPEC and its allies to extend a supply cut deal until next year, while U.S. benchmark crude prices fell on weak economic indicators.
The Greater Tortue Ahmeyim-1 hit 30 m (98 ft) of net gas pay, partner Kosmos Energy said in a news release.
Shell and Exxon Mobil had a joint venture on five offshore blocks in Somalia prior to the toppling of dictator Mohamed Siad Barre in the early 1990s.
Britain’s Tullow Oil has delayed the final investment decision (FID) for its Kenya project to 2020 and has not yet sealed a tax deal in Uganda that is needed for the progress of its plans there with Total, Tullow said on June 26.
Competition heats up for oilfield service providers in the Middle East and North Africa region as key trends around AI and big data emerge.