Tullow takes 10 pct in Dussafu block offshore Gabon

first_imgTullow Oil has become a party to the Dussafu license joint operating agreement in Gabon. Dussafu is operated by BW Energy.BW Adolo; Source: BW OffshoreAs previously reported, Tullow in March 2019 exercised its 10% back-in right to the Dussafu production sharing contract (“PSC”). The exercise of the back-in right was subject to Tullow reimbursing the other Parties for its share of historic costs related to the Dussafu development.The total amount has been disputed by the companies involved, however, BW Energy on Thursday said the parties “have now reached an agreement for the undisputed share of the costs, representing a total of USD 40.9 million as at the end of October 2019.”The net amount payable by Tullow to the existing partners is $19.8 million after adjusting for Tullow’s net lifting entitlement since the start of oil production in September 2018 and some surplus cash-calls made on their behalf. The net amount payable to BW Energy is $15.9 million.Tullow and the existing parties to the Dussafu production sharing contract on December 17, 2019, entered into a deed of novation and amendment by which Tullow became a party to the Dussafu joint operating agreement. Following the completion of the back-in right, the interests of the Parties in the PSC will be: BW Energy (73.5%), Tullow (10%), Gabon Oil Company (9%) and Panoro (7.5%).Negotiations are ongoing to resolve the disputed costs, which amount to an additional $18.7 million. If an agreement is not reached then the dispute will be submitted to a simplified arbitration. BW Energy’s share of the disputed costs is 81.667%. Dussafu map. Source: Panoro Energylast_img read more

Azkals rise again

first_imgLATEST STORIES The crowd exploded again as captain Phil Younghusband converted the 90th minute penalty to make it 2-1 and quite fittingly, for his 50th international goal.What followed were scenes straight out of a movie. Grown men hugging each other, tears of joy streaming down their faces, while the gallery applauded in approval.For veterans like Phil and James Younghusband and Neil Etheridge and assistant coach Chris Greatwich, who were all part of the team that pulled off the “Miracle in Hanoi,” qualification to the continental showpiece culminated a long journey from the depths of Southeast Asian football.“It’s been up and down,” said Phil Younghusband. “There’s progression. From 2010, we’ve made progress. Maybe the lack of success and wins in the tournament made people not talk about Philippine football but I think the team needs to be successful. That happens all over the world. To bring people in.”“It’s been up and down, it’s been amazing and I wouldn’t trade it for anything in the world.”ADVERTISEMENT Nadine Lustre’s phone stolen in Brazil MOST READ View comments In Liverpool, Man United sees the pain and path to recovery Jiro Manio arrested for stabbing man in Marikina Judy Ann’s 1st project for 2020 is giving her a ‘stomachache’ Scarlett Johansson, Sterling K. Brown among SAG Awards presenters Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Conor McGregor seeks to emerge from controversy in UFC comeback Recto seeks to establish Taal rehab body to aid community, eruption victims Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Leftback Daisuke Sato, who stayed on the side of the pitch to watch the Palestinians celebrate their victory, faced the crowd this time in tears. Now 23, he savored the Azkals’ biggest victory.“I love being Filipino,” said Sato, who grew up in Japan. “I’ve had a hard life but football has given me everything. Philippine football opened opportunities for me. This is why I give back. I love my country.”“I’m overwhelmed,” said Etheridge. “It’s been tough for the team. We’ve all made mistakes, both on and off the field—management, ourselves as players. We’ve learned from it, we got stronger.”Phil Younghusband hopes the Azkals biggest milestone to date triggers another wave of corporate support for the sport.“Hopefully this is the catalyst for more support in Philippine football,” he said. “In 2010 we got a lot of support from the private industry, hopefully this moment could be another resurgence of Philippine football.”Sports Related Videospowered by AdSparcRead Next Don’t miss out on the latest news and information. Cabuyao City rising above the ashes through volunteerism A goal down at home with perhaps the largest crowd showing up in recent memory at Rizal Memorial Stadium, the Azkals seized the moment and realized their dream of qualifying for the AFC Asian Cup for the first time with a comeback for the ages against Tajikistan.Up until Kevin Ingreso headed home the equalizer in the 74th minute, the feeling had been all too familiar for the Azkals, who lost to Palestine in the battle for an Asian Cup berth four years ago in Male, Maldives.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownThe Azkals were always on the brink of glory only too fall short when the stakes were at their highest.In truth, the Azkals should have qualified a couple of games ago when they played Yemen in Doha and Nepal in Kathmandu, but the team drew both matches, leaving them with one last chance at home. Photo By Tristan Tamayo/INQUIRER.NETThe team that has gone through so much heartbreak and frustration in the past few years finally got over the hump on Tuesday night.And the script couldn’t have been written perfectly for the Philippine Azkals.ADVERTISEMENT Victory worth dwindling bank account, says Palamilast_img read more

NGSA ends with mixed reactions from pupils of Essequibo

first_imgAs the National Grade Six Assessment (NGSA) concluded on Thursday, over 14,000 children will now anxiously await the release of the results which will determine how well or how poorly they performed.On Wednesday, the pupils English Language and Science Papers were written and while some of them thought that it was simple, some felt it was difficult but nevertheless, answered the questions to the best of their abilities.On Thursday, the children wrote the Mathematics and Social Studies papers. Taking into consideration the performance of students in Maths in the 2017 exams, educators are hopeful with the new initiatives that were put in place to boost the results in that subject area, that the results are overwhelming.In fact, Education Minister Nicolette Henry while visiting schools on Wednesday, alluded to the fact that a lot has been done to enhance the teaching of various subject areas and she too is expecting good results.However, Guyana Times spoke with a few pupils of CV Nunes Primary School on the Essequibo Coast who had mixed reactions. Samuel Alvin Crater related that the Maths Paper Two was difficult but still thinks he will be successful. In this light, he is hoping to be successful at the examinations and earn himself a good placement.Another pupil, Ravina Devi Singh was very much confident on how she handled the exams. “I will get a good school in the region. I got a lot of support from my teachers and parents and I want to thank them for supporting me. The exam was easy for me,” she related.In addition, Vicky Aditya Darbarrie was also confident that he did well and hopes that he will be awarded a place at Anna Regina Multilateral School. Nonetheless, he stated that “the exam was a bit tricky but I am sure of a good pass”.These sentiments were also common in other areas.last_img read more

APNU/AFC officials implicated in multimillion-dollar fraud

first_imgThe Police have been called in to investigate fraud unearthed at the Mahaicony Abary Rice Development Scheme (MARDS).Guyana Times understands that two A Partnership for National Unity/Alliance For Change (APNU/AFC) Regional Councillors attached to the Regional Democratic Council (RDC) in Region Five (Mahaica-Berbice) are at the centre of the probe.Reports are that one of the Councillors, who is a Board Member of MARDS, had three cheques written in the name of her niece. The cheques were valued $1 million, $500,000 and $200,000. According to reports, the Board Member had reported to the then Secretary that she had money in her account on a fixed deposit and did not have access to it until the specified period was up.Police were called in to investigate if the Councillor put the money to personal use. Police have received a statement detailing the plot used to get the funds to be released in her niece’s name.Meanwhile, a fourth cheque was issued to an employee of the Hugo Chávez Centre for Rehabilitation and Reintegration located at Onverwagt, West Coast Berbice. Notably one of the very Councillors is on the management team of the Centre.Police were called in by MARDS head Allison Bourne and were given information to substantiate the allegations. One of the Councillors was asked to visit the Mahaicony Police Station. However, the Councillor opted to visit the Cove and John Police Station, which is in the same division.Additionally, another official, who was fired last year, is under investigation for allegedly having issued to himself monies to the tune of $2,108,000.The money was allegedly used to repair an Agriculture Ministry vehicle and a businessman’s fence, which were both damaged. However, this newspaper was told that the vehicle and fence were damaged after the very employee had crashed the former into the latter last year. The official was later charged for being an unlicensed driver, dangerous driving and breach of insurance. That official is also a Board Member of MARDS and Police are investigating whether he used his position to get the money to repair the damaged Government vehicle and the businessman’s fence.Meanwhile, as the investigations commenced, Police arrested the former company secretary; however, after providing a statement, he was released on $100,000 station bail.last_img read more