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The contract is part of Sonatrach’s 2026–2030 investment plan, which totals $60 billion. About 75% of that amount is allocated to exploration and production.

Gross profit, however, held up relatively well, edging up slightly to GH¢228 million from GH¢226.4 million, reflecting improved margins despite the steep drop in turnover.

The exploration targets areas in ⁠tieback distance to the ​Appomattox platform in the gulf, INEOS ​said in a statement.

NOG Energy Week 2023 To Lead Critical Discussions For Nigeria’s Sustainable Energy Future Powering Nigeria’s Sustainable Energy Future: A Bold Step towards Economic Growth and Environmental Stewardship Abuja, Nigeria – July 2023

Øyvind Eriksen, President and CEO of Aker ASA said: “Aker still believes in the resource potential of the DWT/CTP block in Ghana. AFC is already invested in this field development and is well-positioned to continue this development.

Whilst bringing these fields to production as quickly as possible, President Akufo-Addo urged that Ghana and Guyana must balance carefully social, economic and environmental benefits of these hydrocarbon resources in a continuously changing world.

Eni has set ambitious targets to slash planet-warming emissions to net-zero by 2050 while rapidly expanding its renewable power generation and biofuel capacity.

Interestingly, Parliament itself only approved US$1.1 billion in borrowing for the acquisition by GNPC, suggesting it believes the amount originally requested is an overvaluation, but a dispute still remains as to by how much.

The second phase construction of the dry bulk terminal at the Port of Takoradi