Nigeria | Egypt Oil & Gas - Part 53

Nigeria Cuts Down 2015 Joint Venture Oil Capex by 40%

Nigeria is reducing its capital budget for joint venture oil operations by 40% this year to $8.1 billion due to the slump in crude oil prices, sources at the Nigerian National Petroleum Corporation said Monday.

Tight Budgets to Impact Deepwater Africa Ambitions

EDINBURGH, UK – Wood Mackenzie predicts a 30% reduction in spending on exploration and appraisal offshore Africa this year.

Lekoil Studies Otakikpo Oil Reserves Offshore Nigeria

LAGOS, Nigeria – Lekoil (AIM: LEK) has received an addendum to the Competent Persons Report on the Otakikpo marginal field by AGR TRACS International Ltd. The revision considers the approval by the Nigerian Ministr ...

Nigeria Plans to Diversify Economy Due to Oil Prices

Falling oil prices are a wake-up call for oil producing countries to continue to diversify their economies and minimise spending, a top official from Nigeria has said.

Northern Offshore Terminates Contract with Oceanic in Nigeria

Northern Offshore Ltd. has issued a notice of drilling contract termination to Oceanic Consultants Nigeria Ltd. for the Energy Searcher.

Total Flares Out Ofon Offshore Development Field in Nigeria

Total has completed the flare out of the Ofon field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of the Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG.

Oil Price Drop Forces Nigeria to Adjust Budget

Nigeria has been forced to revise its budget following the dramatic fall in the price of oil.

Shell Reaches Settlement over Nigeria Oil Spill

Oil giant Royal Dutch Shell has agreed to a $84m (£55m) settlement with residents of the Bodo community in the Niger Delta for two oil spills.

Shell sells three onshore Nigeria oil blocks

Royal Dutch Shell's Nigeria operation is working on selling three oil blocks in its latest move to divest some onshore assets, a spokesman said on Friday.

Afren announces successful Ebok North Fault Block exploration well result

Afren has announced that the Ebok North Fault Block exploration well, offshore south east Nigeria, has encountered 370 ft true vertical thickness (TVT) of net oil pay in excellent quality reservoir sands.

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