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Issue 233 - 15 June 2012

Middleman trouble for Ophir

Subscriber

A London court hearing has thrown light on the relations between a frontier exploration-focused international oil company (IOC) and an African business partner, who helped deliver up three highly prospective blocks that were later farmed out to a bigger player.

DR Congo | Tanzania
Free

While there is still much more exploration work to be done, Kenya’s discovery of oil is important for more than just national pride. The find, announced in April by Block 10BB operator Tullow Oil, is a significant stabilising factor for regional development as it enables the East African Community (EAC)’s main economic and political power to take a seat at the table alongside its hitherto luckier neighbours.

Kenya | Uganda | Tanzania
Issue 231 - 18 May 2012

Mixed fortunes in the onshore

Subscriber

The onshore blocks to the west of BG Group’s acreage are not proving to be quite so prolific. Well tests from Maurel & Prom’s Ziwani-1 well, spudded in February in the Mnazi Bay Concession, indicate that the potential resource volumes from a clean limestone reservoir of Pliocene age, 3.5 meters thick, are sub-commercial.

Tanzania | Burundi
Issue 231 - 18 May 2012

BG hits gas in Mzia-1

Subscriber

BG Group and Ophir Energy’s joint venture in Tanzania has made a fifth consecutive gas discovery in its acreage in the Mzia-1 well. In what Ophir chief executive Nick Cooper describes as its “highest risk East African well to date”, the explorer estimates that mean in-place resources of 3.5tcf have been located, but this could be as high as 6tcf.

Tanzania
Subscriber

The 50MW Singida wind power project is to receive a non-concessional $123m loan from the Export-Import Bank of China, and should be producing power by next year.

Tanzania
Subscriber

TANZANIA: Pirates threaten Songo Songo; RWANDA: Vanoil extends technical evaluation agreement; KENYA: Apache secures rig for Mbawa

Kenya | Rwanda | Tanzania
Issue 230 - 04 May 2012

Shell makes agreed bid for Cove

Subscriber

Royal Dutch Shell made a recommended 220p/share bid for Cove Energy on 24 April, valuing the company at £1.12bn ($1.8bn). Shell indicated in February that it was considering a bid at 195p/share, but the eventual price matches a counter-bid by Thailand’s PTT Exploration & Production (AE 226/15).

Mozambique | Tanzania
Subscriber

EGPC: Personnel shake-up; ORCA: Van Straten named as COO; PANCONTINENTAL: Share placing to raise $50m

Kenya | Egypt | Tanzania
Subscriber

Tanzania Petroleum Development Corporation (TPDC) plans to hold a licensing round this year offering at least 16 offshore blocks

Tanzania
Issue 229 - 20 April 2012

Indian Ocean border issues

Subscriber

The issuing of Bahari Resources’ exploration licence in March followed the signing in February of an agreement between the Comoros, Seychelles and Tanzanian governments to delimit their maritime borders. A similar agreement was concluded in December between the Comoros, Mozambique and Tanzania. These accords “take the headache away”, said chief executive Peter Wakeling

Mozambique | Seychelles | Madagascar | Comoros | Tanzania
Subscriber

BNP Paribas has beaten off competition from Crédit Agricole and Standard Chartered to win the mandate to advise Nigeria LNG Ltd (NLNG) subsidiary Bonny Gas Transport (BGT) on an estimated $1bn financing package to purchase six new LNG carriers; Standard & Poor’s has revised Eskom’s credit outlook from stable to negative, and affirmed the state power utility’s BBB+ long-term rating; London Stock Exchange-listed Ophir Energy has sold $240m of new shares to part‐finance its expanded 2012-13 exploration programme

Kenya | Nigeria | Tanzania | South Africa
Subscriber

With Eni hitting another 10tcf on the Mozambican side of the Rovuma Basin and BG reporting a 4.5tcf find in Tanzania, excitement continues to build about east coast gas plays, driving up share prices and encouraging hedge fund executives to fly into Maputo

Mozambique | Tanzania
Subscriber

Minnow Cove Energy is at the centre of a bidding war after Royal Dutch Shell’s proposed $1.6bn bid was followed by a counter-offer from Thailand’s PTT. As new finds push up reserves figures for Tanzania and Mozambique, more majors are expected to snap up the small players who pioneered East African exploration, writes Thalia Griffiths

Mozambique | Tanzania
Issue 226 - 01 March 2012

Ntorya discovery for Aminex

Subscriber

Aminex, one of the first companies to promote East Africa’s hydrocarbons potential, has declared its Ntorya well in Tanzania’s onshore Ruvuma Basin to be a gas discovery (AE 225/14). Aminex failed to find hydrocarbons at the depth it originally anticipated, but drilled ahead to an additional target and found a sand interval of 25 metres between 2,660 metres and 2,685 metres, with a three-metre gas-bearing pay zone in sandstones with 20% porosity at the top, and a 16.5-metre-thick lower sandstone interval with further possible gas pay.

Tanzania
Subscriber

An energy trade mission led by US deputy assistant secretary of state for African affairs William Fitzgerald visited Mozambique, Tanzania, Nigeria and Ghana from 6-17 February

Ghana | Mozambique | Nigeria | Tanzania