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The Islamic Development Bank is providing the government with $56m to finance the second phase of a project to rehabilitate and extend the electricity network in Conakry. Work will be carried out in the Matam, Matoto and Lansanayah districts, and Electricité de Guinée intends to use some of the funds to supervise the work. Tenders will be issued over the coming months, with contracts announced as they become available.

Guinea
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The International Finance Corporation (IFC) is considering supporting the construction of the 34MW Kinguélé Aval. The private investment arm of the World Bank disclosed on 18 June that it will propose an A Loan of up to €40m, a senior concessional loan from IFC as implementing entity of the Canada-IFC Renewable Energy Program for Africa of up to $25m as well as risk management products such as interest rate and/or cross currency swaps.

Gabon
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The Algerian security services achieved their main aim of eliminating the Islamist militants who had invaded the In Aménas gas processing plant, but the loss of life and wider concerns about deteriorating Sahara/Sahel risk pose critical questions about operations in the region.

Algeria | Mali
Issue 261 - 14 September 2013

Gabon pre-salt discovery for Total


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Total Gabon has made a first discovery in Gabon’s new pre-salt play with the Diaman #1B well on the Diaba Block (AE 253/12). The well was drilled to a total depth of 5,585 metres, and encountered 50-55 metres of net hydrocarbons in the target pre-salt formations, which Total’s partner Cobalt International said were thought to be gas and condensate. The well was drilled in 1,729 metres of water, more than 100km from the nearest commercial pre-salt discovery.

Gabon
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African Petroleum Corporation has applied for a listing on Oslo’s junior Axess market, following the appointment of new management in recent months. Controversial former chairman Frank Timis stepped down in October. “Due to historical events related to other listed companies where he has been involved, Mr Timis will not be employed by the company nor hold board positions nor play any governance role going forward,” the company said. Before founding African Petroleum, Timis was chief executive of Regal Petroleum, whose directors were fined £600,000 in 2009, after a Financial Services Authority investigation, for misleading investors on the viability of an oil well in the Aegean Sea in 2003. African Petroleum and its sister company International Petroleum listed on Australia’s National Stock Exchange in 2010 after the main Australian Stock Exchange declined to have Timis involved.

Liberia | Côte d'Ivoire
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Africa Energy Corporation has agreed with Pancontinental Oil & Gas to take a 10% stake in the Tullow Oil-operated PEL 37 in the central Walvis Basin. Pancontinental’s costs in the joint venture, including drilling the first exploration well, are already carried by Tullow, and the same terms will apply to Africa Energy.The company has agreed to pay Pancontinental $1.7m at the close of the farm-out agreement, and another $4.8m when the first exploration well starts drilling.

Namibia
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UK-based engineering consultancy Penspen has signed a contract with the Economic Community of West African States (Ecowas) to carry out a feasibility study examining the performance of the West African Gas Pipeline (WAGP) and its possible future network extension to other Ecowas states.Penspen said the study would look at how WAGP has performed since its completion and what measures need to be taken to optimise its operation. The work includes a technical and economic analysis of the extension of the pipeline

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Finland’s Wärtsilä Corporation on 20 March announced the completion of a 15MWp solar photovoltaic (PV) plant at the Iamgold Essakane mine in north-east Burkina Faso. The inauguration on 16 March was overseen by President Roch Marc Christian Kaboré.Comprising nearly 130,000 solar PV panels, the plant will add to an existing 55MW heavy fuel oil plant to create what the developers describe as the largest hybrid PV-diesel plant in the world, and one of the largest solar facilities in sub-Saharan Africa.

Burkina Faso
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After two years of negotiations, Sithe Global and Industrial Promotion Services (IPS) initialled term sheets for the 147MW Ruzizi III hydroelectric project on 18 September with the Communauté Economique des Pays des Grands Lacs (CEPGL). The agreement confirms the companies as successful bidders and gives them the go-ahead to negotiate specific contract terms over the coming months. The project is the third in a series of hydro schemes on the Ruzizi River, which connects lakes Kivu and Tanganyika on the borders of Democratic Republic of Congo, Rwanda and Burundi. The 30MW Ruzizi I and 44MW Ruzizi II plants are being rehabilitated, and a 287MW Ruzizi IV scheme is still at the planning stage.

Issue 228 - 30 March 2012

COMPANIES AND PEOPLE

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CIC Energy Corporation on 27 March announced it had completed a private placement with Vitol Energy (Bermuda), raising C$10m, giving Vitol 9.1% of CIC’s issued common shares; Eskom Holdings has invited bids by 1 May for the design, supply and installation of its much-anticipated 100MW Central Receiver Concentrating Solar Power Plant at Upington; The City of Johannesburg plans to spend over R100bn ($13.2bn) in the next decade on economic and social infrastructure; In a 23 March statement to the Johannesburg Stock Exchange, South Africa-incorporated, Namibia-focused Southern Electricity Company (SELCo) reported a loss of R0.0393/share and headline loss of R0.0416/share; Tata Power Company was advised by AZB & Partners (led by Shameek Chaudhuri with Manan Mehta) in creating its new electricity development joint venture, Cennergi, with major South African player Exxaro Resources

Mozambique | Namibia | South Africa
Issue 142 - 05 July 2008

NIGERIA: Hydrocarbons restructuring

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Presidential adviser on energy Rilwanu Lukman has said he expects final government approval of his report on the restructuring of the Nigerian hydrocarbons sector “in the next week or two”.

Nigeria
Issue 358 - 23 November 2017

The Windsor principles

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In early October, National Oil Corporation (NOC) officials met Central Bank of Libya (CBL) governor Sadiq Al-Kebir, tribal and municipal representatives, and international stakeholders including the United Nations, the International Monetary Fund, diplomats and international oil company executives at St George’s House in Windsor Castle. According to NOC chairman Mustafa Sanalla, the most important of the eight principles agreed during the meeting was that the exploitation of Libya’s oil and gas resources should be for the benefit of all Libyan people, regardless of location.

Libya
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Not for the first time, the availability of financing for African energy players was split in 2009, between commercial banks seeking structured oil deals and power projects largely dependent on official funders, writes Kevin Godier

Egypt | Angola | Nigeria
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Local players brought in to sell directly foreign companies after the government abandoned direct licensing round are coming under increasing scrutiny

Namibia
Issue 203 - 18 February 2011

Ruzizi donors line up

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Officials from Burundi, DRC and Rwanda are expected to meet potential investors in Kigali in March to put together an estimated $500m financing package for the planned Ruzizi III HEP scheme, which would supply electricity to all three partner states.

DR Congo | Rwanda | Burundi