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Issue 131 - 25 January 2008

Circle unbowed by Zita setback

Subscriber

Circle Oil and partners have failed to find oil with the Zita-1 well on the Ras Marmour permit, but have approved a location for a first well on the Grombalia permit

Tunisia
Subscriber

San Francisco-based Girard Gibbs LLP on 18 October said it was investigating potential claims on behalf of purchasers of Hyperdynamics Corporation common stock. The investigation concerns whether Hyperdynamics and some of its officers may have violated some sections of the Securities Exchange Act.

Free

Operator Taipan Resources has signed a letter of intent with China’s Greatwall Drilling Company to contract the GW-190 land rig for the high-impact Badada-1 well on Block 2B. The Anza Basin well is expected to spud between mid-December and mid-January and take around 70 days to drill. Premier Oil farmed into the onshore block in October 2013, taking 55%. “The Badada-1 well is a potential play-opener,” said partner Tower Resources. “It will test the first of several prospects and leads in Block 2B that are potentially analogous to prospects in the Lokichar Basin where Tullow Oil and Africa Oil have enjoyed multiple oil discoveries in the Tertiary Rift sequence.

Kenya
Free

SOCO International is preparing to drill up to three offshore exploration wells, with the first well expected to spud in early September.

Equatorial Guinea
Subscriber

A soon-to-be-published review will improve the prospects for new power plants and could help solve Sonelgaz’s financial problems, writes John Hamilton, recently in Algiers

Kenya
Free

Development finance institutions (DFIs) remain the big beasts in developing infrastructure and other major projects in much of Africa. The ‘blending’ of public and private finance has become a preoccupation for traditional donors looking to leverage their grants and loans to produce bigger funding flows to kick-start the continent’s infrastructure revolution, to catch up with sub-Saharan Africa (SSA)’s macroeconomic growth. More diversified forms of financing are being sought to underwrite power, water and other big-ticket schemes. This will inevitably need new players and asset classes, including African and international pension funds, billionaire investors, family private offices, the public listing of power developers and electricity investment companies.

Issue 173 - 30 October 2009

Oando in Gazprom tie-up

Subscriber

Fast-growing local player Oando has signed a memorandum of understanding (MoU) with Russia’s Gazprom to collaborate in the development of oil and gas assets and infrastructure in the West African region and the Gulf of Guinea.

Nigeria
Issue 311 - 06 November 2015

Lekoil: Fundraising

Free

Nigeria’s Lekoil has raised $46m with a placing of 125.2m shares at 24p/share. The proceeds will fund the acquisition of an indirect controlling stake in OPL 325, to the south of Lekoil’s OPL 310 in the Dahomey Basin. Chief executive Lekan Akinyanmi told the Africa Independents’ Forum in Cape Town that the Dahomey Basin was underexplored. The company also has the Otakikpo marginal field on OML 11, which delivered first oil on 5 September, and acreage in Namibia, where Lekoil is doing regional geological work.

Nigeria
Subscriber

A new hydropower plant is planned in Manica province, governor Ana Comoane told Radio Moçambique in early December.

Mozambique
Subscriber

London-based Sirius Petroleum has signed an exclusivity offtake agreement with Glencore Energy UK Ltd including provision for a conditional prefinancing facility of up to $65m, which will be netted against initial sales of crude oil production, to fund development of its Nigerian assets.

Nigeria
Issue 223 - 19 January 2012

CEB transmission tenders

Subscriber

The joint Benin-Togo Communauté Electrique du Bénin (CEB) has issued a number of tenders following loans from the European Investment Bank (EIB) and other multilateral donors for improvements to energy infrastructure

Benin | Togo
Subscriber

Doubts have been cast over the jatropha curcas shrub’s potential to produce biodiesel from poor soil. But Germany’s JatroSolutions has signed a memorandum of understanding (MoU) with national airline Lufthansa to grow jatropha in West Africa for kerosene production. The company’s founder and chief executive, Hohenheim University Professor Klaus Becker, told African Energy the MoU was for a project to plant up to 120,000ha in Cameroon or Ghana, in a E250m ($334m) investment. JatroSolutions’ biggest shareholder is German energy company Energie Baden-Württemberg.

Issue 280 - 28 June 2014

Namibia: Another dry well

Subscriber

Namibia’s offshore has delivered another dry well with the failure of Repsol’s Welwitschia-1A wildcat in the Walvis Basin. The well was drilled to a total depth of 2,454 metres but found that the Palaeocene, Maastrichtian and upper Campanian section reservoirs were less well-developed than expected, and no hydrocarbons were encountered. Drilling was delayed by late delivery of the rig and operational issues during drilling that meant the well had to be respudded.

Namibia
Subscriber

The World Energy Council is the latest player to take on the task of bringing stakeholders together to get the Inga projects off the ground. Support from big potential clients like BHP Billiton, innovative financing proposals and a big political push may mean the Grand Inga dream becomes reality, despite all the problems associated with working in DRC, writes Thalia Griffiths.

DR Congo
Free

Former oil minister Diezani Alison-Madueke has been arrested and bailed in London as part of an investigation into suspected bribery and money-laundering offences. The UK National Crime Agency (NCA) said its recently formed International Corruption Unit had arrested five people across London on 2 October. “All five people arrested were released on conditional police bail later that evening, pending further investigation both in the UK and overseas,” a statement said. “The investigation commenced in 2013 under the Proceeds of Corruption Unit, and transferred to the NCA earlier this year.”

Nigeria