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Chevron greenlights $5.6B Mafumeira Sul project offshore Angola

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Chevron Corporation’s Cabinda Gulf Oil Company Limited subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola. Once online in 2015, the project will build to a production capacity of 110,000 barrels of crude oil and 10,000 barrels liquefied petroleum gas per day.

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Sonangol, Maersk Oil and partners strike oil with their first deepwater pre-salt well offshore Angola

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Sociedade Nacional de Combustíveis de Angola Empresa Pública (Sonangol, E.P.), Maersk Oil and other partners declared the Azul-1 deepwater exploration well, located in Block 23 in the Kwanza Basin, a discovery well. The preliminary interpretation of the data indicated a potential flow capacity greater than 3,000 barrels of oil a day.

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New Major Oil Discovery in Angola Deep Offshore

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An Eni-led consortium announced a new major oil discovery in Block 15/06 in the deep offshore of Angola. Initial evaluations indicate that the discovery holds material volumes of oil in place of high quality, Eni said. Due to the synergies with the ongoing activities, the East Hub will double the production in Block 15/06.

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Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

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PetroJunín, joint venture formed by PDVSA (60%) and Eni (40%), has started production from the Junín-5 giant heavy oil field, located in the Faja del Orinoco—the area with the largest untapped hydrocarbon reserves in the world, according to Eni. Deepwater Angola. Junin 5 block in the Orinoco. Source: Eni. Click to enlarge.

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Eni signs 3 cooperation agreements with Angolan national oil company, including biodiesel

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Italy-based energy major Eni signed three agreements to further strengthen its cooperation with the Angolan national oil company, Sonangol. Eni said that this operation confirms Angola as one of the key countries in the company’s growth strategy.

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IEA March Oil Market Report revises 2015 demand forecast upward

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out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year mb/d for the current quarter, according to the IEA Oil Market Report for March. mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. related product draws. Having bottomed?out

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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. —Secretary General Sentyurin.