With rising inflation and an increasing capital cost borrowing environment posing challenges for upcoming oil and gas projects, the overall oil and gas industry’s disclosed contract value saw a significant quarter-on-quarter (QoQ) decrease of 48% in Q1 2023, reveals GlobalData, a data and analytics company
Exploration
ANGP, TotalEnergies, Sonangol collaborate on first offshore project in Kwanza basin
Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), TotalEnergies EP Angola and Sonangol Pesquisa e Produção SA signed a heads of agreement related to the future development of the Cameia and Golfinho fields, located on Blocks 20 and 21 in the Kwanza basin
Angola sees increase in E&P activities
While Angola already represents one of the largest oil producers in Africa, the country is targeting heightened exploration and production across both mature and emerging basins in a bid to become a regional energy hub
IEA-IEF-OPEC Workshop explores energy-market volatilities
The International Energy Agency (IEA), International Energy Forum (IEF) and the Organisation of the Petroleum Exporting Countries (OPEC) held the ninth Joint IEA-IEF-OPEC Workshop on Interactions between Physical and Financial Energy Markets
Okeanus delivers underwater mooring winch for uncrewed vehicles
Okeanus Science & Technology, LLC (Okeanus), an international provider of specialised ocean equipment and marine engineering services, announced the successful delivery of a 1,500 m depth rated, 500 kg safe working load, underwater mooring winch custom designed for integration within a large displacement uncrewed underwater vehicle (UUV) earlier this year