Latest news with #Perenco
Reuters
23-07-2025
- Business
- Reuters
Woodside's second-quarter revenue beats estimates on Sangomar output; trims 2025 outlook
July 23 (Reuters) - Australia's Woodside Energy ( opens new tab reported a stronger-than-expected 8% rise in second-quarter revenue on Wednesday due to robust output from Senegal's Sangomar project, though it marginally lowered its annual production forecast following an asset divestment. Woodside in late March agreed to sell offshore oil and gas assets in Trinidad and Tobago to London-based Perenco, which included production facilities and interests in the shallow water Angostura and Ruby fields within the Greater Angostura project. The country's top gas producer posted revenue of $3.28 billion for the three months ended June 30, surging 8% from $3.04 billion a year earlier and comfortably exceeding the Visible Alpha consensus estimate of $3.09 billion. The revenue beat underscores the strong performance of the Sangomar project, which has emerged as a key growth driver for the company. Overall production jumped 13% to 50.1 million barrels of oil equivalent (mmboe) during the quarter, up from 44.4 mmboe in the same period last year. As a result of the asset sale, Woodside marginally adjusted its 2025 production forecast to between 188 and 195 mmboe, compared with its previous guidance range of 186 to 196 mmboe.
Zawya
03-07-2025
- Business
- Zawya
Perenco's $2 Billion Cap Lopez Liquefied Natural Gas (LNG) Project Signals Gas-Led Growth in Central Africa
Positioning natural gas at the center of its growth strategy, independent oil and gas company Perenco is driving one of Central Africa's most ambitious energy developments through the Cap Lopez LNG terminal in Gabon – a flagship project set to come online in 2026. Situated at the existing Cap Lopez oil terminal, the $2 billion initiative will introduce a floating LNG (FLNG) vessel designed to monetize the country's offshore gas reserves and reduce gas flaring. Following completion, the project is expected to serve as a catalyst for energy diversification and broader economic growth in the country. Marking Gabon's first large-scale gas development following a final investment decision in 2024, the project signals a major step forward for regional energy security and industrialization. Currently under construction in Dubai, the FLNG unit will boast a production capacity of 700,000 tons of LNG and 25,000 tons of LPG annually, supported by storage infrastructure capable of holding 137,000 cubic meters. In support of this venture, engineering and construction company Technomak recently signed an agreement with Dixstone – a Perenco affiliate – for the integration of the offshore FLNG barge. Perenco is a Gold Partner at this year's African Energy Week (AEW): Invest in African Energies in Cape Town. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. The project forms part of a broader energy strategy being implemented by Perenco in Africa. In the Republic of Congo, the company continues to expand its upstream footprint with the commissioning of the Kombi 2 platform on the Kombi-Likalala-Libondo II permit. Currently under construction by Dixstone at the Nieuwdorp shipyard in the Netherlands, the platform is scheduled to depart in October and enter into operation offshore Pointe-Noire by early next year. With an estimated investment exceeding $200 million – and forming part of broader developments nearing $900 million – the project includes new drilling phases, infrastructure upgrades and the optimization of existing wells. The Kombi 2 platform will feature an integrated wellbay module to accommodate new wells, aiming to unlock an additional 10 million barrels of oil equivalent, with targeted output gains of 4 million cubic feet per day. Power generation for the platform will be supported by dual gas turbined linked to a 33-kV electrical hub, reinforcing Perenco's commitment to operational efficiency and sustainable resource development in Congo. On the exploration front, Perenco continues to cement its role as a premier independent in Africa's energy landscape through a robust portfolio of upstream and gas infrastructure developments across the continent. In early 2024 an appraisal well in Gabon spudded near the Hylia South West discovery revealed substantial oil-bearing columns in the Ntchengue Ocean reservoir and reinforcing the potential of the lower Madiela carbonate formation. In Cameroon, the company launched its inaugural gas-to-industry project in July 2024, supplying 3.5-6.5 million cubic feet per day of natural gas from the Sanaga South field to the Keda tile factory via a 6-km pipeline – a milestone following its 9.9% equity acquisition in offshore operatory Golar LNG a month earlier. These initiatives underscore Perenco's integrated energy strategy, with the company's participation as a Gold Partner at AEW: Invest in African Energies 2025 set to showcase their strategic role in shaping Africa's energy future through large-scale gas monetization, infrastructure expansion and frontier exploration. Taking place in Cape Town from September 29 to October 3, 2025, the event promises to shine a light on these transformative projects and drive high-level dialogue on investment, innovation and sustainable development in Africa's oil and gas sector. Distributed by APO Group on behalf of African Energy Chamber.
Yahoo
23-06-2025
- Business
- Yahoo
Petrovietnam and partners sign PSC for Block 15-1 oil and gas block
Petrovietnam, along with its joint venture partners, has officially signed a product sharing contract (PSC) for Block 15-1 on the Southern Continental Shelf of Vietnam. This move is pivotal in reinforcing Petrovietnam's commitment to further oil and gas exploration and exploitation, which is crucial for the stability of the nation's energy resources. Block 15-1 is considered a block of special strategic importance to Petrovietnam and the Oil and Gas Exploration and Production Corporation (PVEP). Initially, the block was operated by a consortium of five international and domestic partners. Following changes, Perenco has now assumed the operational role previously held by ConocoPhillips. The joint venture operates through Cuu Long Joint Operating Company (Cuu Long JOC), and is one of the few large-scale collaborations within the Vietnamese oil and gas sector. In the updated PSC, PVEP has increased its stake to 59%, with Perenco, KNOC, SK and Geopetrol holding 19.8%, 11.4%, 7.2% and 2.6%, respectively. Since its inception, Block 15-1 has been a significant contributor to Vietnam's oil and gas output, demonstrating high economic efficiency. It has been a cornerstone of the country's production for many years. The block, located in the Cuu Long basin, encompasses several active oil and gas fields. The Black Lion field, discovered in 2003, quickly became a focal point for offshore production in Vietnam, boasting estimated oil reserves of around 600 million barrels (mbbl). This figure is second only to the reserves of the White Tiger field. By 2024, the project was expected to produce more than 426mbbl of oil and more than 216 billion cubic feet of gas, generating revenues exceeding $31bn (VND812.57trn), with more than $15bn contributed to the State budget. Last month, PetroVietnam announced the commencement of the first commercial oil flow from the Đại Hùng oilfield phase three project. "Petrovietnam and partners sign PSC for Block 15-1 oil and gas block" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Business
- Yahoo
Perenco Congo invests in new Kombi 2 platform
Perenco Congo has announced an investment in the construction of the Kombi 2 platform to be installed on the Kombi-Likalala-Libondo II (KLL II) permit offshore Congo. The construction of the platform, including upcoming drilling phases, represents an investment of more $200m (£147.21m). The Kombi 2 platform is currently being built by Dixstone at the Nieuwdorp shipyard in the Netherlands. The platform is designed to recover approximately seven million cubic feet of gas per day, which will contribute to reducing the carbon footprint and optimising resource use. Additionally, it will generate electricity through two gas turbines connected to a 33kV electrical hub and enhance surface treatment to develop an additional ten million barrels of reserves. The platform is scheduled to leave the Netherlands in October 2025 and become operational in Pointe-Noire by early 2026. Perenco CEO Armel Simondin said: "This project demonstrates a solid, lasting partnership built on mutual trust. For over 20 years, Perenco has been working alongside the Republic of Congo to develop the country's resources while strengthening infrastructure, local expertise and energy sovereignty.' The project follows the renewal of the Ikalou II and Likouala II permits for an initial 20-year period, aimed at strengthening Perenco's presence in Congo. The renewal facilities a broader $900m investment plan comprising work-over campaigns, development drilling and the installation of advanced infrastructure. Perenco Congo's long-term vision supports the growth of the Congolese oil sector and aligns with the Congolese authorities' ambition for national production to reach 500,000 barrels of oil equivalent per day by 2030. Perenco Congo managing director Stéphane BARC added: "Kombi 2 is fully in line with our commitment to performance, operational safety and environmental responsibility. This new milestone demonstrates our ability to combine technical innovation, compliance with the most demanding standards and a direct contribution to the country's development." "Perenco Congo invests in new Kombi 2 platform" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Zawya
28-05-2025
- Business
- Zawya
Perenco Chief Executive Officer (CEO) to Outline Asset Optimization, Upcoming Drilling Campaigns at African Energy Week (AEW) 2025
Armel Simondin, CEO of independent oil and gas company Perenco, will showcase the company's strategy to unlock oil and gas resources in West and Central Africa during the African Energy Week (AEW): Invest in African Energies 2025 conference. As a leading producer in markets such as Gabon, the Democratic Republic of Congo (DRC) and the Republic of Congo, the company is well-positioned to discuss the state of play of Africa's exploration and production landscape. Perenco has placed natural gas at the heart of its development strategy. One of the company's biggest projects is the Cap Lopez LNG terminal in Gabon, set to start operations in 2026. The project involves the construction of an LNG terminal at the existing Cap Lopez oil terminal, with an FLNG vessel monetizing offshore gas resources. The FLNG unit – under construction in Dubai – will have a capacity of 700,000 tons LNG and 25,000 tons of LPG per annum, with storage facilities with capacity of 137,000 cubic meters. The $1 billion project made a final investment decision in 2023 and represents Gabon's first large-scale gas development. At AEW: Invest in African Energies 2025, Simondin will provide an update on the project, highlighting the role natural gas is expected to play in West Africa. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Beyond the Cap Lopez LNG terminal, Perenco is advancing LPG deployment in Africa. The company inaugurated the $50 million Batanga LPG plant in Gabon in 2023, producing 15,000 tons of LPG per annum. The project has enabled the country to reduce LPG imports by between 40-50%, with production geared towards the domestic market. The plant also provides feedstock for a 20 MW power plant in Mayumba. In Cameroon, Perenco launched its first-ever gas-to-industry supply project in July 2024. The Bipaga Gas Processing Center utilizes natural gas reserves from the Sanaga South field to supply the Keda tile factory with between 3.5 million and 6.5 million cubic feet of gas per day. Gas is transported via a 6-km pipeline, powering the factory's electrical generators and kilns. The milestone follows Perenco's acquisition of a 9.9% stake in Golar LNG, which operates the Cameroon FLNG terminal. Meanwhile, with a focus on shallow and marginal fields, Perenco is driving a series of offshore oil projects in Africa, with plans to expand its portfolio of producing assets. The company is ramping up drilling activities in the Republic of Congo, with plans to increase output to 100,000 barrels per day (bpd). From mid-2025, Perenco will operate two to three rigs in the country for a period of two years, focusing on assets such as Tchibouela-Est, Masseko, Emeraude and Marine XXVII. The company is targeting new field developments, surface optimizations and continuous infrastructure improvements in the country. The company is also accelerating drilling activities in the DRC. At present, Perenco is the only major oil producer in the country and seeks to optimize assets and bolster production. Through its DRC subsidiary Muanda International Oil Company, the company made an oil discovery during an offshore drilling campaign in the DRC in 2024. The discovery signals the first offshore find made in the country in nearly three decades. The Moke-East well - situated between the Lukami and Motoba fields - encountered a 24-feet net oil-bearing column. Additionally, in Gabon, the company spud an appraisal well near the Hylia South West discovery – made in 2023 – in February 2024. The well targets the Ntchengue Ocean (NTO) reservoir and lower Madiela carbonate reservoir, with results showing substantial oil-bearing columns in the NTO reservoir. Simondin's participation at AEW: Invest in African Energies 2025 will not only provide an overview of the company's vision for Africa's oil and gas market but showcase the instrumental role independent operators are playing across the continent's hydrocarbon markets. From project updates to future investments to challenges and emerging opportunities, Simondin's insights will support discussions around Africa's oil and gas future. 'Perenco is making significant strides towards unlocking new oil and gas plays in Africa. Through its rich portfolio of natural gas projects and oil exploration and production, the company is creating lucrative opportunities for the countries in which it operates. This portfolio not only showcases the value of independent operators in Africa but highlights the level of opportunity available across the continent,' states NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
