Search results

The Netherlands’ NOTS Solar Lamps and the Rwandan government on 4 July announced an agreement for NOTS to build a $70m solar home system (SHS) manufacturing facility in the country. Rwanda’s cabinet approved the agreement in June. The plant will manufacture NOTS’ Multimax system, which includes three lamps and phone and radio chargers and is paid for in 100 weekly instalments of $0.60.

Total and Sonangol signed a production-sharing agreement with the government of São Tomé & Príncipe on 15 March to explore for oil in Block 1 of the islands’ Exclusive Economic Zone (EEZ), the national oil agency ANP said.The award follows an invitation for expressions of interest launched by the São Toméan authorities in May 2018.

Official figures show a big rise in power imports from Spain in the first half of this year, as lower consumption brought down the price. Moroccan plants reduced their output, enabling ONE to carry out essential maintenance

Heritage Oil has agreed to form an indigenous Nigerian oil company through a joint venture with Bayelsa Oil Company, owned by the government of President Goodluck Jonathan’s home state. Heritage will own 45% of Petrobay Energy, which will be based in the Bayelsa State capital Yenagoa, in the Niger Delta. The venture will give Heritage access to more Nigerian assets while complying with Nigeria’s strict local content laws. Heritage said Petrobay would look to acquire production, development and exploration assets from international oil companies, and would combine “Bayelsa Oil Company’s indigenous support from state government and local communities with Heritage’s strong technical track record and access to financial markets”.

With further progress in its electricity privatisation, increased food production due to investment in agriculture, and capital markets responding favourably to banks and bonds, it is easy to be drawn into the bubble of optimism that has built up around the Nigerian economy and its prospects. Away from the conflict zones of the north and Niger Delta, real progress has been made, but for every bit of positive newsflow there is a reality check, such as a new report from the Royal Institute of International Affairs (Chatham House) which examines illegal oil exports – a still little understood cog in the machine of money and power-broking that defines public life in Nigeria.

Shell Petroleum Development Company has given the NetcoDietsmann joint venture an integrated operation and maintenance services contract for the Afam VI power plant in Rivers State. The scope of the contract provides for full operation and maintenance of the 650MW plant, including complete operation of three 160MW GT13E2 gas turbines and a 220MW Alstom steam turbine. The initial contract value is $5.4m/yr.

The company developing the second phase of Sierra Leone’s Bumbuna dam has lined up a second project, signing an MoU for the 450MW Kpep hydro scheme in north-west Cameroon

As the new regime in Tripoli establishes its authority, Libya urgently needs to restart oil production.  A potentially divisive mix of old and new faces is emerging to take charge of the sector, writes John Hamilton

The African Development Bank has approved a senior loan of $150m through its Private Sector Window to finance BG’s Hasdrubal oil and gas field development project in the Gulf of Gabes (AE 140/14).

The African Development Bank (AfDB) board has approved funding for the 33MW Segou Solar photovoltaic (PV) project, Mali’s first utility-scale solar PV power plant (AE 305/8). The project will be funded by the Program for Scaling Up Renewable Energy in Low Income Countries (Srep), part of the multi-donor Climate Investment Funds. In addition to the $25m Srep tranche, the AfDB and International Finance Corporation are each putting in $8.4m of senior debt.

Tullow Oil is consolidating its position in Ghana with a politically savvy $300m bid for the West Cape Three Points (WCTP) stake held by EO Group – owned by former New Patriotic Party (NPP) president John Kufuor’s allies Kwame Bauwah Edusei and George Owusu.

A cabinet meeting on 24 May approved a contract signed with Morocco’s Nova Power for a 25MW solar scheme in the northern city of Korhogo. The contract was signed in Marrakech in November during the COP22 climate change talks. The CFA23.6bn ($40m) plant will be built by Nova Power subsidiary Korhogo Solaire, and is expected to be operational in 2018, government spokesman Bruno Koné told reporters after the cabinet meeting.

The Volta River Authority is seeking bids for the engineering and design, supply, installation and commissioning of the Takoradi 4 project, a 186MW gas turbine combined cycle power plant at the Takoradi thermal power station site. The bidding document specifies a 30-month completion period. A mandatory site visit and pre-bid meeting is scheduled for 7 July, and bids are due by 25 July. Eligible bidders should offer funding support from the export credit agencies of the countries in which they plan to source equipment and services.

Kosmos Energy has taken two more blocks in São Tomé and Príncipe’s Exclusive Economic Zone (EEZ), in a farm-in agreement with Equator Exploration. Equator, 81.5% owned by Toronto-listed Oando Energy Resources, has farmed out 65% operated stakes in blocks 5 and 12 to Kosmos, which licensed EEZ blocks 6 and 11 late last year (AE 311/1). Equator signed the production-sharing contract (PSC) for Block 12 in February with São Tomé’s National Petroleum Agency (ANP-STP). The PSC for Block 5 was signed in April 2012 and a 1480km2 3D seismic survey was acquired in April 2015.

Camac Energy has changed its name to Erin Energy and agreed a $200m prepayment facility with Glencore Energy to finance its Oyo field development. The name change followed a reverse stock split in April. The company announced on 26 May that it had agreed heads of terms with Glencore on an offtake agreement with an embedded prepayment element. The offtake contract would allow Glencore to lift Oyo crude from the Armada Perdana floating production, storage and offloading vessel for a minimum of two years.