The company aims to complete drilling by October. (Image source: Adobe Stock)

Akrare Petroleum Benin SA, a subsidiary of Lime Petroleum Holding, has given a detailed update of its plans with the redevelopment of the Seme Field in Block 1 offshore Benin

The Borr Gerd jack-up rig by Borr Drilling will be arriving this month as drilling is set to start early July. The following 100 days will see the drillinjg of three well-bores. The first will be an appraisal well designed to gather new data on deeper reservoir units. Afterwards, two horizontal production wells will be drilled and completed in the H6 reservoir, in which subsurface analysis has suggested significant remaining reserves, even though there has been previous production. 

The company aims to complete drilling by October, when a Mobile Offshore Production Unit (MOPU) will arrive, along with a Floating Storage & Offloading unit (FSO)set to arrive mid-September. The MOPU will be hooked to the newly-drilled wells, and production is expected to start in October 2025 at production rates of approximately 16,000 barrels of oil per day (bopd). 

The Seme Field redevolopment programme has been planned in phases, beginning with the production restoration stage. This runs parallel to extensive data collection activities for an optimised approach. The reprocessing of 2007 3D seismic data has been completed.

Phase 2 of the development will be evaluated to check possibilities in deeper H7 and H8 reservoirs, as well as further development drilling in the H6 reservoir. 

Lime Petroleum is a subsidiary of the Singapore-based oil and gas company, Rex International Holding. 

BW Energy has generously responded to the offering. (Image source; Adobe Stock)

Ahead of the Kavango West 1X well excavation offshore Namibia, Reconnaissance Energy Africa Ltd has issued a public offering of its units following an agreement with Research Capital Corporation as the lead underwriter and sole bookrunner

BW Energy Limited, and directors and management members of ReconAfrica, among other investors, have generously responded to the offering. While BW Energy has already been on a strategic partnership with ReconAF, its fresh batch of investments in the company represents approximately 20% of the offering, increasing its share ownership position in ReconAfrica to around 7.6%. 

The net proceeds from the offering will drive exploration activities -- mainly the Kavango West 1X well -- working capital and general corporate purposes. Work on the access road and drill site is currently being completed while the company awaits receipt of the remaining requisite permits. The rig move to the Kavango West 1X well drilling location is scheduled later this month, with drilling to begin thereafter.

Brian Reinsborough, president and CEO of ReconAfrica said, "We are excited to spud one of the Company's largest and most attractive prospects, Kavango West 1X. The results of the Naingopo exploration well announced in January 2025 increased our confidence in the potential for this well. Our teams remain very engaged with local communities and authorities to ensure a safe and efficient operation of this well."

Carl K Arnet, BW Energy CEO, said, "Our technical and operational teams at BW Energy are delighted to be participating in the high potential Kavango West 1X exploration well. BW Energy is well positioned in this strategically important energy region and further our position as a leader in Namibia's development towards energy independence. The data and insights gained through ReconAfrica's exploration campaign will further our understanding of the geology and petroleum system in Namibia and help de-risk planned exploration and development of our Kudu licence."

Petrobras is interested in nine blocks. (Image source: Adobe Stock)

Brazilian oil company, Petrobras, has submitted a declaration of interest for exploratory blocks on the offshore areas of the Ivory Coast

The Ivory Coast government, through its Council of Ministers, approved Petrobras' declaration of interest for nine blocks. This is the first phase in the acquisition process for exploratory areas in the region, which is then followed by contractual negotiations of the exploratory blocks.

The purpose of the declaration is to ensure exclusivity in the contractual negotiation phase.

Petrobras highlights that the decision to submit the declaration of interest to the Ivory Coast government complied with all of the company's internal governance procedures, in line with its longterm strategy, which is aimed at replenishing oil and gas reserves by exploring new frontiers, both in Brazil and internationally.

The evaluation of new areas is targeted at diversifying the company’s exploratory portfolio and generating value. Any material developments will be promptly disclosed to the market

The agreement remains subject to relevant approvals. (Image source: Adobe Stock)

Deepwater ocean-infrastructure designer, SBM Offshore, has signed a share purchase agreement for the full divestment of the company’s equity interest in the lease and operating entities of the FPSO Aseng to GEPetrol

SBM Offshore’s exit from Equatorial Guinea will take place following a 12-month- long operational transition phase.

SBM Offshore’s sale of its participation in the unit in Equatorial Guinea is in line with its strategy to rationalise its Lease & Operate portfolio, as per other recent transactions.

The agreement remains subject to several conditions precedent and approvals.

Through the design, construction, installation, and operation of offshore floating facilities, SBM Offshore endeavours to advance just transition, ensuring cleaner, more efficient energy production.