KARACHI: The Naveena Group has announced that it has achieved financial close for its 50 MW wind power project being setup in Jhimpir with a cost of $63.9 million. The project will provide the cheapest electricity to the consumers at a price of US cents 4.7154/kwh from a platform of clean and green energy. The…
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Oil & Gas, Electricity, Renewables, Canadian Exchange, News Releases
Denmark offers mini/micro renewable power generation tech to Pakistan
ISLAMABAD: Denmark has offered to provide mini/micro renewable power plant technologies to Pakistan as the Nordic renewable energy giant eyes South Asian market with active interest. Rolf Holmboe, Ambassador of Denmark to Pakistan in a meeting with Nadeem Babar, Special Assistant to Prime Minister on Petroleum at the Petroleum Division, offered cooperation to Pakistan in…
K2fly signs Rio Tinto for RCubed Solution
SUBIACO: K2fly Ltd announced that Rio Tinto have signed a five-year contract to implement the RCubed Mineral Resource and Reserve solution across 20 sites globally. Implementation will commence immediately. The total contract value, including initial implementation costs, is for AU$1.45 million. The RCubed solution will replace an in house system and will assist Rio Tinto…
Mako Gold completes RD drilling on the Tchaga Prospect
MELBOURNE: Mako Gold Limited has completed its latest RC drilling program on the Tchaga Prospect at the Company’s 224 km2 Napié Project in Côte d’Ivoire. Mako is earning up to a 75% interest in the Napié Project under a farm-in and joint venture agreement with Occidental Gold SARL, a subsidiary of West African gold miner…
Greencoat acquires 20.4MW Killala Community wind farm for €37.2 million
DUBLIN: Greencoat Renewables PLC the Irish renewable infrastructure company invested in euro-dominated assets has acquired Killala Community Wind Farm, a 20.4MW wind farm situated in County Mayo. The project consists of 5 Siemens 3.4MW turbines that have been operational since July 2019. An additional Siemens 3.4MW turbine is currently under construction which will bring the…
Jadestone Energy to acquire an operated 69% interest in Maari Project for $50mn
SINGAPORE: Jadestone Energy has executed a sale and purchase agreement (SPA) with OMV New Zealand Limited, a subsidiary of OMV, to acquire an operated 69% interest in the Maari Project, shallow water offshore New Zealand for a total headline cash consideration of US$50 million, to be funded from the Company’s cash resources. Jadestone Energy is…
Roger Brown appointed CEO of Seplat Petroleum as Avuru retires
LONDON: Seplat Petroleum Development Company has announced that her pioneer Managing Director and later CEO, Austin Avuru will be retiring in July 2020 after 10 years of leading the company. In these 10 years, Mr. Avuru led the development of a strong organization, the deployment of agile systems, processes and stakeholder relationships that allowed the…
Karoon Energy contracts Stena Forthto drill Marina-1 in Peru
MELBOURNE: Karoon Energy Ltd has executed binding agreements with Stena Drilling Ltd and Tullow Oil Limited to contract the “Stena Forth” Dynamically Positioned Drillship. The “Stena Forth” has been contracted to drill one well, being the Marina-1 exploration well, in Karoon’s 40% owned and operated Block Z-38 in the Tumbes Basin in Peru with drilling…
Skyland terminates agreement to acquire mineral sand deposit in Indonesia
SYDNEY: Skyland Petroleum Group Limited notified a Deed of Settlement has been executed with Tisma HK Limited in relation to the unwinding and termination of the acquisition of Tisma Development (HK) Ltd. On 18 December 2018 the Company acquired the issued capital of Tisma, which indirectly holds a mineral sand development company with operations in…
Questerre Energy Corporation posts net profit of $1.33mn for Q3
CALGARY, ALBERTA: Questerre Energy Corporation reported a net profit of $1.33 million and production of just over 2,300 boe/d for the third quarter ended September 30, 2019. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Exceptional well results drove an increase in production and positive earnings for the third quarter in spite of…
Echo completes acquisition of working interest in Santa Cruz Sur package
LONDON: Echo Energy, the Latin American-focused upstream oil and gas company, announced that the acquisition by the Company of a 70 percent initially non-operated working interest in the Santa Cruz Sur package of five mature producing blocks, from Petrolera El Trebol SA, a subsidiary of Phoenix Global Resources plc has now completed. Martin Hull, Chief…
Velocys delivers order for bio refinery project in Japan
LONDON: Velocys plc has constructed and now delivered Fischer-Tropsch (FT) reactors and catalyst to Toyo Engineering Corporation (Toyo) for use in a biomass-to-jet fuel demonstration facility in Nagoya, Japan. Toyo is currently constructing the bio-jet fuel facility as part of a consortium of Japanese companies. The order for Velocys was previously announced on 19th September….