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Issue 397 - 25 July 2019

Angola: Sonangol earnings rise but production sinks

Reforming the oil and gas sector to attract investment and increase production has been a central priority of João Lourenço’s presidency. State oil and gas firm Sonangol boosted its earnings in 2018, fired by higher oil and gas export prices but serious problems face the company...

Issue 397 - 25 July 2019

Angola

Issue 397 - 25 July 2019

Algeria: Political concerns dampen upstream mood

Key upstream partners are making bullish noises about their Algerian operations, but a call by judicial authorities to reopen investigations into historic accusations of malfeasance at state energy giant Sonatrach threatens to undermine confidence (see View). Italian major Eni...

Issue 397 - 25 July 2019

Algeria

Issue 397 - 25 July 2019

Ghana: Deep-water developments

Aker Energy has attracted a $100m investment from Lagos-Based Africa Finance Corporation (AFC) as it prepares to develop the Pecan field on the Deepwater Tano Cape Three Points (DWT/CTP) Block. AFC bought $100m of convertible bond notes with a commitment to participate in follow...

Issue 397 - 25 July 2019

Ghana

Issue 397 - 25 July 2019

Gabon: Petronas to drill as bid round extended

Seadrill Partners has secured a one-well contract with Petronas subsidiary PC Gabon Upstream SA for the West Polaris to work offshore Gabon. Work is expected to start in September 2019, running to the end of the year.Petronas operates the Likuale (F14) Block offshore southern...

Issue 397 - 25 July 2019

Gabon

Issue 397 - 25 July 2019

Egypt/Region: Energean in Edison acquisition

Mediterranean-focused Energean Oil & Gas has agreed to acquire Italy’s Edison E&P for an initial $750m. Following an initial public offering in March 2018, Energean’s strategy has been to become the leading independent, gas-focused exploration and production company in...

Issue 397 - 25 July 2019

Egypt

Issue 397 - 25 July 2019

Egypt: BP backs United Oil acquisition

AIM-listed United Oil & Gas has won BP’s backing for a $16m deal to buy Rockhopper Egypt Pty Ltd, which has a 22% non-operated interest in the Abu Sennan concession in the Western Desert. BP will provide a prepayment financing structure of up to $8m, and United and BP have...

Issue 397 - 25 July 2019

Egypt

Issue 397 - 25 July 2019

Kenya: QP farms into Eni Lamu Basin blocks

Qatar Petroleum (QP) has extended its African partnership with Eni and Total by taking 25% in blocks L11A, L11B and L12 in the Lamu Basin. The blocks’ shareholdings will now be Eni 41.25%, Total 33.75% and QP 25%.

Issue 397 - 25 July 2019

Kenya

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