FAR raises $46.7 million to fund exploration ventures in Africa and Australia
FAR Ltd has completed a placement to institutional and sophisticated investors to raise $46.7 million before expenses by issuing 424,961,685 shares.
Subsea projects continue to surge in West Africa
FMC Technologies has contracted Aveon Offshore to fabricate more than 5,000 metric tons (5,511 tons) of subsea structures for the Egina field development offshore Nigeria. Operator Total Upstream Nigeria awarded FMC the engineering, procurement, construction, and commissioning contract for the subsea production systems.Aveon is performing fabrication at its 240,000-sq m (2.58-million sq ft) yard in Rumuolumeni, near Port Harcourt. The ffirst steel was cut in December, and load-out and sail-away of the subsea structures is expected to get under way during the second half of 2015.
Resource estimates in ‪‎Kenya's South Lokichar basin surpass 1 billion barrels of oil in new adjustment
Africa Oil Corp says that a new independent assessment of the Company's Contingent Resources in the South Lokichar Basin located in Blocks 10BB and 13T in Kenya has been completed by Gaffney, Cline & Associates increasing the total 2C (best) gross contingent resources by 67% to 616 million barrels of oil and total 3C (high)Â gross contingent resources increased 52% to 1.29 billion barrels of oil in the oil fields discovered to date in the South Lokichar basin.
Meet Shell, Total, Century Group, and key regulators at OSV Africa
Currently, there are about 500 oil companies that participate in African hydrocarbon exploration. Prospects and potential for further oil and gas finds are exceedingly positive and it is estimated that there are at least another 100 billion barrels in the regions offshore fields.
Find out the opportunities and trends for the Oil and Gas Maritime Sector from the Keynote speech of Mrs. Ify Akerele, Director General of Nigerian Chamber of Shipping.
