REVOLUTIONIZED APPROACH TO OFFSHORE TRADING OF PREMIUM PETROLEUM PRODUCTS
Performing Traders// Nontraditional Tool
A MESSAGE BY THE GROUP CHAIRMAN
COVID 19 and its post COVID 19 effects on this industry have shown that the Oil and Gas industry, particularly the energy industry in general cannot be submerged easily. It is surely one of the most demand driven global trade that needs stakeholder resilience in planning and executing appropriately seamless synergies in logistics and financial structures. Even though a lot of losses were witnessed during these times of which organized fraud was one such devastating trend many firms including OFC Energy suffered which halted our operations, our focus was firmly rooted in our vision. Our Million dollar Blue Water Platform was hard hit with these activities and caused a shit a 4 year shut down of our operations. The resilience of the industry along with major commercial partner support, brought us back and we are eternally grateful. Approach our Specialist Heads of departments and let us do business for goodness sakes.
about us
OFC Energy Limited, is an indigenous Oil Trading Company (OTC) service provider to the oil and gas industry in Ghana following its incorporation as a limited liability company in Ghana in 2019; to carry on the business and operations of oil trading; environmental management; marine logistics and support; and oil/gas project management. OFC Energy Limited is also involved in the business of business marketing, supply and trading of crude oil and other related petroleum products.
UP COMING INVESTMENTS
PETRONAS accelerates development of 12 fields offshore Malaysia with multiple PSC deals
July 31, 2024
SVP of MPM, PETRONAS, Datuk Ir. Bacho Pilong (5th from left)
with signatories and representatives from PCSB, Hibiscus Oil & Gas Malaysia
Limited, Ping Petroleum, Duta Marine and Jadestone Energy at the signing of DRO
PSCs marketed under the MBR+ Round 1
“We are delighted to see our operators
continue to expand their portfolio in Malaysia. Their niche technical expertise
and agility are crucial in navigating the unique challenges of monetizing and
developing DRO assets expediently and safely,” said Senior Vice President of
Malaysia Petroleum Management (MPM) Datuk Ir. Bacho Pilong.
(WO) – PETRONAS signed Production
Sharing Contracts (PSCs) for three clusters of Discovered Resource
Opportunities (DRO) marketed under the Malaysia Bid Round Plus (MBR+) Round I.
These clusters are located offshore Peninsular Malaysia.
Under the Small Field Asset (SFA)
Cluster PSC, the Bubu, Bunga Tasbih and Enau fields were awarded to Ping
Petroleum Sdn. Bhd. and Duta Marine Sdn. Bhd., while another SFA Cluster PSC
signed consists of four fields namely the Puteri, Padang, Penara and North
Lukut was awarded to Jadestone Energy (PM) Inc.
Meanwhile, the Pertang, Kenarong,
Noring and Bedong fields were awarded to Hibiscus Oil & Gas Malaysia
Limited and PETRONAS Carigali Sdn. Bhd. under the Improved Revenue Over Cost
terms.
The awarded PSCs encompass a
portfolio of 12 fields, comprising oil and gas assets within the Malay basin in
Peninsular Malaysia. Located within a proven oil and gas basin and in close
proximity to existing infrastructure, these DRO clusters offer synergistic
development opportunities for monetization.
“MPM will continue to provide the
necessary support and foster collaboration to facilitate the monetisation of
these assets. Furthermore, MBR+ and PETRONAS myPROdata have been pivotal in
opening doors for potential investors and existing players to pursue business
growth opportunities within Malaysia” he added.
Increased oil and gas production driven by FPSO performance boost, Petrobras reports
July 30, 2024
(WO) – Petrobras ended Q2 2024 with
an average production of 2.7 MMboed, an increase of 2.4% compared to the same
period of the previous year. The increase was driven by the increase in
production ( ramp-up ) of the FPSOs Almirante Barroso, P-71, Anna Nery,
Anita Garibaldi and Sepetiba, in addition to the entry into production of
12 new wells from complementary projects, eight in the Campos basin and four in
the Santos basin.
New platforms will start operating
in 2024. A significant milestone in the
last quarter was the arrival of the FPSO Marechal Duque de Caxias in
Brazil and the completion of its anchoring in the Mero field, in the pre-salt
layer of the Santos basin. The platform, which will be the third definitive
production system in the field, is scheduled to start operating in the second
half of this year.
The FPSO Maria Quitéria has
already been brought forward to the last quarter of 2024. The platform left the
Chinese shipyard in May and is currently sailing to Brazil. The unit will
operate in the Jubarte field, located in the pre-salt of the Campos basin, off
the coast of Espírito Santo, and has technologies for decarbonization, such as
the combined cycle in power generation and Flare Gas Recovery Unit – FGRU (
closed flare ).
FPSO P-71 (Source: Petrobras)
Compared to the first quarter of
this year, production was 2.8% lower, mainly due to the higher volume of losses
due to maintenance shutdowns, as predicted in the 2024-28+ PE, and the natural
decline of mature fields.
In the first half of 2024,
operational greenhouse gas emissions from the company’s oil and gas activities
were 21.4 million tons, a level similar to 1H23, when they reached 20.7 million
tons.