Eland Gets Go-Ahead for OML 40 Operatorship

Junior energy firm Eland Oil & Gas reported Monday that its Nigerian joint venture company has received consent from the Department of Petroleum Resources (DPR) to operate the OML 40 license, onshore Nigeria. 

TECHNOLOGY REVIEW: Norway’s SINTEF "Smart" Pipeline

Researchers at Norway’s SINTEF together with a consortium of industrial partners have developed technologies to enable real-time condition monitoring reports from within pipelines to be transmitted to shore.

The Research Council of Norway-supported SmartPipe technology carries out condition monitoring in real time. This is achieved by installing belts around the pipelines packed with a multitude of sensors which measure pipewall thickness, tension, temperature and vibration.

Exxon Angola Kizomba Project Starts Production

BP confirmed today the start of oil production from the Exxon Mobil-operated Kizomba Satellites phase 2 development in Block 15, offshore Angola.

The deepwater project is expected to produce around 70,000 barrels of oil per day at peak, and is expected to increase total daily Block 15 production to 350,000 barrels.

Oil Prices to Stay Weak for at Least a Year - Reuters Poll

Oil is likely to stay relatively weak for at least the next year, a Reuters poll forecast on Thursday, suggesting a slowdown in oil production in the United States will not be enough to offset a global supply glut.

Reuters monthly survey of 32 analysts predicted North Sea Brent crude would average $60 a barrel in 2015, up 80 cents from the projection in last month's survey.

Not All Doom and Gloom for South Africa as Shell Pulls Out

EDISON Research believes Royal Dutch Shell’s “pull-back” from South Africa is not the harbinger of doom for the country’s nascent shale gas industry analysts have predicted, as there’s more to the super-major’s decision than meets the eye.

Shell announced in March it was putting its South Africa shale gas exploration program on hold and pulling its shale gas head, Jan-Willem Eggink, out of the country – with more “highly skilled staff” to follow him – as it continues to seek an exploration licence.

Shell cited falling oil and gas prices and the need for greater clarity on legislation and technical regulations before deciding on its next steps.

Eni Commences Production at Cinguvu Oil Field in Block 15/06 Off Angola

Italy's Eni S.p.A. announced Wednesday that it started production two weeks ahead of schedule at the Cinguvu oil field, from the West Hub Development Project in Block 15/06 in the Angolan Deep Offshore, approximately 217 miles (350 kilometers) northwest of Luanda and 81 miles (130 kilometers) west of Soyo. The start-up follows the achievement of West Hub’s first oil through Sangos field start-up, during last November 2014. 

Seplat Records Drop In 1Q Profits, Pins It On Lower Oil Price

Seplat Petroleum on Tuesday posted a 47 percent drop in first quarter pretax profit, blaming lower crude prices and pipeline shutdowns in Africa's biggest oil producer. The oil and gas exploration firm said its oil price during the first three months to end-March averaged $52.8 per barrel, booking a premium of $1.52 per a litre, compared with $112.9 bbl a year earlier.