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The European Bank for Reconstruction and Development (EBRD) is considering providing a reserve-based loan of up to $100m to Kuwait Energy International to help finance its development operations at the Abu Sennan, Area A, Burg El Arab and East Ras Qattara fields in Egypt. The project supports the development of Kuwait Energy’s Egyptian operations including measures and investments in associated petroleum gas-flaring prevention and recovery. The projected cost of the development plan is $160m.

Egypt
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Sonatrach has started awarding contracts for key projects again after a year of paralysis caused by corruption investigations and management changes

Algeria
Issue 400 - 27 September 2019

Vaalco Energy: London listing

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Houston-based Vaalco Energy announced on 16 September that it was seeking a listing on the main market of the London Stock Exchange to complement its existing New York Stock Exchange listing. Its shares are expected to start trading in London on 26 September. Vaalco operates the producing Etame Marin Block in Gabon and has a stake in Block P in Equatorial Guinea. A number of US-based companies have sought London listings to access the market’s expertise in understanding the African oil industry. Africa Oil Corporation opened a London office earlier this month.

Issue 304 - 10 July 2015

Morocco: Safi wind farm

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The Ministry of Energy, Mines, Water and Environment is in the process of approving the construction of an eventual 300MW capacity privately financed wind farm at Safi, Casablanca monthly Economie Entreprise reported. The estimated MD3.5bn ($358.6m) wind farm is planned by the Belgian-owned Compagnie Marocaine des Energies (CME), which expects to supply high-voltage industrial clients. Locally registered CME was created by Heverlee-based WindVision in 2012; its other shareholder is Euronext Brussels-listed Compagnie d’Entreprises CFE.

Morocco
Issue 381 - 22 November 2018

Angola: GECF membership

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Angola joined the Gas Exporting Countries Forum (GECF) as an observer member at the group’s 20th ministerial meeting in Port of Spain, Trinidad and Tobago, on 14 November. The other African members are Algeria, Egypt, Equatorial Guinea, Libya and Nigeria. The fifth summit of GECF heads of state and government will take place in Malabo in November 2019, the first time it has been held in Africa.

Angola
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Japan has provided a grant of $14m to improve electricity distribution in the Brong Ahafo and Northern regions. Speaking at the signing ceremony, Japanese ambassador Naoto Nikai said improved power supply would enable people in the two regions to benefit from agricultural, health, educational and industrial development activities.

Ghana
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Finland’s Wärtsilä announced on 22 December that it has signed an engineering, procurement and construction contract with Tasiast Mauritanie Ltd, a subsidiary of Canadian gold miner Kinross Gold Corporation, to supply a 60MW turnkey power plant for the second phase expansion of the Tasiast mine. The power plant will operate using six Wärtsilä 32TS engines. Commercial operation of the phase two expansion, which will raise output to 30,000 t/d, is expected to begin in Q3 2020. Wärtsilä supplied engines for the 19MW power plant serving the Tasiast mine’s phase 1B project.

Mauritania
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The United States’ Overseas Private Investment Corporation (Opic) has signed an investment incentive agreement with the government of South Sudan supporting US private sector investment. The first investment Opic will support in South Sudan is the construction and operation of a 150-room hotel in Juba by Delaware-based Aquila Investments and Jordan’s Taher Investments. The agreement was signed at a South Sudan Investment Forum in Washington on 17 April, organised by the US Agency for International Development.

South Sudan
Issue 298 - 17 April 2015

Egypt: CCR plant contract

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The Ministry of Petroleum and Mineral Resources on 30 March signed a $250m contract for France’s Axens to build a continuous catalytic regeneration (CCR) unit at the Assiut refinery. This unit will have capacity to process 14,800 b/d of naphtha to deliver 11,600 b/d of high-octane gasoline and 200 b/d of butane. The project is part of a national plan to increase capacity at existing plants to meet local needs.

Egypt
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Lower prices and more generous development packages were evident in South Africa’s second renewable IPP bid round, and developers are eyeing more projects in REIPPP3 and other government bid rounds

South Africa
Issue 249 - 28 February 2013

Kenya: CAMAC plans aerial surveys

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Kase Lawal’s CAMAC Energy has signed an agreement with Canada’s Sander Geophysics to shoot airborne gravity and magnetic geophysical surveys over the whole of its onshore Lamu Basin blocks L1B and L16. The results of the survey will be used to plan upcoming 2D seismic. CAMAC expects the company to start work in Q2 2013 and provide initial results in Q3.

Kenya
Issue 255 - 31 May 2013

Cameroon: Dry well for Kosmos

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Kosmos Energy has said that the onshore Sipo-1 exploration well on the Ndian River Block in the Rio del Rey Basin did not find commercial hydrocarbons. The well was drilled to a total depth of 1,725 metres, targeting the Miocene Isongo formation. Oil and gas shows indicated a working petroleum system but the well failed to encounter commercial reservoirs, Kosmos said. The well completes Kosmos’ drilling commitment on the block and will now be plugged and abandoned. Kosmos licensed the block in January 2007 and had been hoping to find a farm-in partner.

Cameroon
Issue 252 - 19 April 2013

Camac Energy: Kenya survey


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Houston-based CAMAC Energy has started airborne gravity and magnetic geophysical surveys on its onshore Lamu Basin blocks L1B and L16. The survey by Sander Geophysics will cover essentially the entire area of the blocks and will be used to design a 2D seismic programme.

Kenya
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The second high-level meeting of the Africa-EU Energy Partnership (AEEP) in Addis Ababa on 11-13 February has provided another opportunity for experts to assess how far Africa and Europe have come in reaching a set of ‘political targets’ set in 2010. The targets for 2020 provided shared goals for energy access and efficiency, energy security (including electricity interconnections and gas trade) and generation from renewables. The findings of this work by the AEEP Secretariat, whose consultant is African Energy’s parent Cross-border Information, are available in a Status Report downloadable in English and French.

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The acrimony that has accompanied the emergence of Ghana as a significant offshore oil producer is becoming ever more apparent, with two companies threatened with litigation or the cancellation of a petroleum agreement (PA) already ratified by parliament.

Ghana