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Issue 221 - 02 December 2011

Russians pull back from Block 1711

Subscriber

Sintez Group affiliate Nakor Investments, the main equity holder in Block 1711 in the Namibe Basin bordering Angola, has relinquished most of its 70% stake. Interim operator Energulf Resources said the Russian company would retain a 10% carried interest. Energulf, which holds a 10% working interest, will receive an additional

Angola | Namibia
Subscriber

Gabon is hoping to tap its pre-salt potential with its tenth licensing round due to open on 4 May offering 42 deepwater blocks (AE 162/1). The round has been expected for some time but has been delayed by political developments.

Gabon
Subscriber

In an unusually frank interview by Libyan standards, National Oil Corporation (NOC) chairman Shokri Ghanem has told state-owned newspaper Al-Shams that petrol supply shortages were linked to excessive demand stimulated by heavily subsidised

Libya
Subscriber

Azonto Petroleum has agreed to sell its 35% stake in Vioco Petroleum to joint-venture partner Vitol, which holds the other 65 percent. Faced with delays and cost increases to the planned Gazelle gas field development, Azonto said it had concluded that a sale was the best way to realise value from its stake in Block CI-202. It said selling up now saved it from committing to a work programme that it could not finance, and that it could potentially consider alternative asset acquisitions.

Côte d'Ivoire
Subscriber

Tullow is structuring its Uganda farm-down to give each of the partners operatorship in one of the three blocks, in a bid to make development of the Lake Albert Basin less of a one-man show, writes Thalia Griffiths

Uganda
Subscriber

The US Trade and Development Agency (USTDA) announced grant funding for a solar project in northern Nigeria during President Muhammadu Buhari’s visit to Washington on 19-22 July. Lagos-based Quaint Global Energy Solutions Nigeria Ltd plans a 50MW on-grid solar plant at Manchok Ranch in Kaduna State. The company, a subsidiary of Houston-based Quaint Solutions and Trading Company, says its Abiba project is a 50MW utility plant being developed by 100%-owner Quaint GES.

Nigeria
Issue 164 - 06 June 2009

Wessex looks to Q3 09 PLUS listing

Subscriber

UK private company Wessex Exploration plans to list on London’s PLUS market by 1 September. The PLUS market is proving popular with minnow oil companies looking to raise funds – the UK-based Africa Oil Exploration Plc listed in January 2008 raising £1.03m (AE 142/16).

Mozambique
Subscriber

Ophir Energy said on 9 July that it has awarded upstream front-end engineering and design (FEED) contracts for the Fortuna floating liquefied natural gas (FLNG) project in Block R to two contractor consortia. The company says it is considering a second FLNG vessel on the development, while still looking to bring in a farm-in partner before its planned final investment decision (FID) in mid-2016.The upstream FEED contract, awarded to McDermott Marine Construction Ltd with GE Oil & Gas UK Ltd, and Subsea 7 with Aker Solutions, will be a competitive process, with the scope of work including subsea development design.

Equatorial Guinea
Issue 272 - 28 February 2014

Namibia: Shell re-enters offshore

Free

Royal Dutch Shell has acquired blocks 2913A and 2914B in the Orange Basin from Signet Petroleum, which is 42% owned by AIM-listed Polo Resources. Shell has bought Signet’s 90% interest in the blocks, with National Petroleum Corporation of Namibia retaining its 10% carried interest. The acreage borders Shell’s Orange Basin Deep Water Block off the west coast of South Africa, where the company acquired 8,500km2 of 3D seismic last year and is looking for a farm-in partner. Signet announced on 12 February that it had concluded a transaction for the sale of its interests “to a major international oil company in a confidential transaction”.

Namibia
Subscriber

Investment bank Renaissance Capital is suing African Minerals in London’s Commercial Court for £25m of unpaid advisory fees relating to a fundraising in 2010. The dispute centres on a £170m cash injection by Chinese state-owned China Railway Materials Commercial Corporation to develop Sierra Leone’s Tonkolili iron ore mine, a deal for which Renaissance Capital claims it is owed substantial fees for facilitating.

Sierra Leone
Issue 376 - 14 September 2018

Senegal: Cairn mulls FPSO bids

Subscriber

Edinburgh-based Cairn Energy says it is assessing tender responses for the floating production, storage and offloading facility and subsea infrastructure for the SNE oil development ahead of front-end engineering design work planned for Q4 2018.Announcing its half-year results on 11 September, Cairn said submission and approval of a development and exploitation plan was targeted for H2 2018, with a final investment decision to follow in 2019.

Senegal
Free

It hardly rates on the scale of the drama that a courageous Tunisian population delivered to the world in ousting Zine El Abidine Ben Ali, but manoeuvrings by members of the former presidential circle to allow them to profit handsomely with little effort from the award of contracts for a gas-fired

Tunisia
Subscriber

The project to build a 1,320MW coal-fired baseload plant at Safi is moving ahead – with the prospect of financial close by year-end – following the start of work on an essential parallel project, building a new port to provide a hub for industrial giant Office Chérifien des Phosphates and facilities to import the estimated 3.5m t/yr of coal that will fuel the power plant being developed by GDF Suez and the local Nareva Holding.

Morocco
Free

The passing of founding president Robert Gabriel Mugabe is another step in the rites of passage towards what over 15m Zimbabweans hope will eventually become a secure and sustainable economy and society. However, the 95-year-old autocrat’s death offers no solutions for reversing economic decline or for easing political tensions, as the opposition Movement for Democratic Change (MDC) calls for mass protests to remove President Emmerson Mnangagwa’s government.

Zimbabwe
Subscriber

Under pressure to raise finance to meet its Kenyan commitments, Lion Petroleum has agreed to merge with Canadian company Taipan Resources. Taipan has agreed to provide Lion with bank guarantees to fund its work programme on blocks 1 and 2B, and Lion shareholders will receive Taipan shares

Kenya