Continental Focus, International Reach

ENI Finalizes Lucrative Shorouk Stake Sale

ENI finalized the sale of a 10% stake in its Shorouk concession to Mubadala Petroleum, a wholly-owned subsidiary of Mubadala Investment Company. The Shorouk concession is located offshore Egypt, holding the massive Zohr gas field. Following a record start-up less than two and a half years from discovery, the project is now in its ramp-up […]

June 21, 2018 Read More

Niger Amends CNPC’s Agadem PSA

The Niger government approved an amendment to the terms of the PSA covering CNPC’s Agadem Block. The amendment will accelerate the development work on the block, which will allow for exports. The government’s goal is to increase production from 20,000 barrels per day (bpd) to about 110,000 bpd by 2021, an official statement released to […]

June 20, 2018 Read More

Vitol Enters Talks for Petrobras’ Nigerian Business

A Vitol-led consortium has reportedly entered into exclusive talks to acquire stakes in Nigeria from Brazil’s state-run oil and gas firm Petrobras. The assets are located offshore Nigeria and are worth an estimated $2.5 billion. According to a Reuters report, the Vitol-led group emerged as winners from a number of firms and consortiums that bid […]

June 19, 2018 Read More