French energy company GDF Suez is laying the groundwork for a big competitive battle for a crucial engineering and design contract on the €3 billion to €3.7 billion ($3.9 billion to $4.8 billion) Bonaparte floating liquefied natural gas project in northern Australia.
Brazil’s Petrobras has received more than 50 commercial proposals on a massive tender covering the fabrication of topsides modules and integration on eight floating production, storage and offloading vessels to be used on pre-salt fields.
Civil and ethnic strife amid historic conflicts over natural resources have long characterised the Horn of Africa and the north east of the continent.
UK-based BG Group is banking on strength in the liquefied natural gas sector and a string of new development projects in Brazil and Australia to propel it towards production of more than 1 million barrels of oil equivalent per day by 2015.
US independent Cobalt International Energy has made a potential 2 billion barrel pre-salt oil discovery off Angola that has major implications for future exploration of the nascent play in the Kwanza basin and farther afield from Gabon through to Namibia.
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Reserves push: NPD director Bente Nyland
The head of Norway’s oil agency has sounded the alarm over high drilling costs on the country’s continental shelf that are putting a serious restraint on its ability to tap new reserves to reverse a production decline.
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