Savannah Petroleum in talks to buy ExxonMobil’s asset portfolio in Chad and Cameroon

CHAD-CAMEROON – Savannah Energy, the African’s oil, and gas industry-focused British independent energy company, is in advanced exclusive discussions with ExxonMobil with respect to the proposed acquisition of its entire upstream and midstream asset portfolio in Chad and Cameroon. The proposed acquisition would include a 40% operated interest in the Doba Oil Project, and an effective approximately 40 percent interest in…

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Total commences production from Zinia Phase 2 short-cycle project

ANGOLA – Broad energy company Total, operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency, have announced the start of production from Zinia Phase 2 short-cycle project, connected to existing Pazflor’s FPSO (Floating Production, Storage and Offloading unit). The project includes the drilling of nine wells and is expected to reach a production…

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ExxonMobil postpones final investment decision on Rovuma LNG project once again

MOZAMBIQUE – American multinational oil and gas corporation Exxon has postponed for the third consecutive year the Final Investment Decision on the natural gas exploration project in Mozambique, putting the US$30 billion investment in doubt. According to Bloomberg news agency, which quotes the company’s Senior Vice President Neil Chapman, during a conversation with analysts, there is no forecast on when…

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Total to press on with Mozambique LNG project in spite of insurgency

MOZAMBIQUE – Total intends to continue its major gas project in Mozambique despite the armed insurgency that has plagued the country since 2017 as it trusts the authorities to ensure its safety, in return for a solid financial contribution. Armed insurgency has been targeting the central government in Maputo in the Cabo Delgado province, where most of the major gas…

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Exxon and Total in talks over Mozambique LNG resource-sharing deal

MOZAMBIQUE – ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs, sources familiar with the matter told Reuters. The talks between the energy giants also involve the Mozambican government, which has to give final approval to any…

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Exxon-Mobil and Petronas plan to dispose stakes in Chad-Cameroon oil pipeline

CHAD – Petroliam Nasional Bhd. (Petronas) is considering selling its 35% stake in the Chad project with Exxon Mobil Corperation (Exxon) working with another adviser to sell their 40% stake as well, reports Business Wire. The project for sale includes oil fields in southern Chad and a pipeline that transports crude oil to a marine terminal in Cameroon for export.…

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Exxon Mobil partners with ONGC to develop India’s offshore oil reserves

INDIA – Global energy giant Exxon Mobil Corp has entered into an agreement with India’s biggest state-owned explorer Oil and Natural Gas Corp Ltd which will see the energy giant offer its expertise and technology to help India develop its resources in offshore blocks, according to a Reuters report. The memorandum of understanding (MoU), developed in October this year, will…

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