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    CNR Scraps Drilling Plans Off Africa


The company is in talks with the government on "foreign exchange practices."

by: Joseph Murphy

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Natural Gas & LNG News, Africa, Premium, Corporate, Exploration & Production, Financials, Contracts and tenders, News By Country, Cote d'Ivoire

CNR Scraps Drilling Plans Off Africa

Canadian Natural Resources (CNR) has ditched plans for a drilling campaign at an oil and gas field off the Cote d’Ivoire coast over an apparent disagreement with the government over “foreign exchange practices,” the company said on August 1.

The Calgary-based producer, which operates in Canada, Africa and the North Sea, had been intending to launch a five-well drilling campaign starting in the fourth quarter, aimed at producing up to 2,500 boe/day of oil and gas.

“Due to ongoing discussions with the Cote d’Ivoire government the Espoir drilling programme in 4Q 2019 has been cancelled until such time as certain foreign exchange practices can be clarified,” CNR said in an earnings report, without elaborating.

Separately, UK-based Seadrill Partners said on August 2 it had received an early termination notice for a contract that would have seen its West Vencedor semi-submersible undertake work off the Côte d'Ivoire starting this year. Seadrill said it expected a compensation payment for the cancellation.