As part of the Shell Petroleum Development Company of Nigeria’s strategy to move away from its onshore assets to the safer offshore asset acquisition, exploration and development, this divestment is one of many that Shell has made since the company’s first divestment push in 2010.
Newcross now retains a 45-percent stake in Oil Mining Licence 24. Total Exploration & Production holds 10 percent and the Nigerian Agip Oil Company has a 5-percent interest. The remaining bulk percentage – 45 percent – is still held by the Nigerian National Petroleum Company. The divested field produces about 13,000 barrels of oil equivalent per day on average.
Oslo-listed Shelf Drilling has secured a contract for the Shelf Drilling Fortress jack-up rig with an undisclosed North Sea operator… Read More
A 720-MW Australian solar farm is pioneering a model of agrivoltaics with livestock integration by playing host to more than… Read More
Malaysia’s Sapura Energy has been awarded a five-year contract from Thailand’s PTTEP to conduct Pan Malaysia subsea services for Petronas… Read More
QatarEnergy has struck a USD 6-billion deal with the China State Shipbuilding Corporation (CSSC) to build 18 of the largest… Read More
Chevron has signed a deal with NAMCOR to develop an offshore block in the Walvis Basin, the Namibian NOC was… Read More
This website uses cookies.