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The International Finance Corporation’s IFC Asset Management Company has announced the first investment by the IFC African, Latin American and Caribbean (Alac) Fund, committing up to $35m in equity to support the modernisation and expansion of HeidelbergCement in West Africa.
With Songas planning a major expansion of its domestic gas-to-power operation, BG assessing the potential of its Ophir farm-in and several other deals in the works, Tanzania’s gas industry is becoming an emerging force in East Africa.
Italian export credit agency Sace’s growing focus on Africa saw it reach E1bn ($1.26bn) in insured transactions in sub-Saharan Africa in 2009.
AIM-listed Uranium Resources has announced the start of drilling on its Mtonya prospect in the Selous Basin, southern Tanzania.
Pushing for more HCB electricity; Power grid for irrigation; Power prices rise; Solar power for Lofa police; Nexans cable links Pemba to mainland
REPUBLIC OF CONGO: Third production well on Azurite field; LIBYA: NOC announces six discoveries; BURUNDI: Surestream contracts RPS for EIA; EGYPT: Second Matruh find for Apache; LIBYA: Neptune order thought to mark start of Gazprom project; LIBYA: Poles launch drilling programme; MAURITANIA: Dana, Petronas to drill; NIGERIA: Acergy contract; TANZANIA: BG confirms Ophir farm-in
London-based Solo Oil has said it plans to take up its option for a 12.5% interest in the Ruvuma production-sharing contract (PSC) in south-east Tanzania from Aminex subsidiary Ndovu Resources (AE 176/17).
Tanzania player Artumas Group has closed its office in Calgary and agreed to merge with Wentworth Resources, which will receive a 58.5% stake. The merger will generate $20m in cash for Artumas, which has struggled to meet its funding requirements during the global economic downturn (AE 166/13).
Norway’s Statoil has signed an agreement with an affiliate of ExxonMobil to transfer 35% of its interest in deep-water Block 2. Statoil now holds a 65% interest in the 11,099km2 block. A phase of 2D seismic acquisition was completed in 2008 and the acquisition of a 3D seismic survey was completed in February. “Statoil is looking forward to working with ExxonMobil in our frontier acreage offshore Tanzania. This is a deep-water environment and both companies have extensive deep-waterexperience,” said Statoil senior vice president exploration Tim Dodson.
BP has announced plans to sell its marketing business in Namibia, Malawi, Tanzania, Zambia and Botswana following a strategic review. The review of BP’s refining and marketing businesses in southern Africa showed that the company
Dominion Petroleum has raised £32.7m ($50m) from institutional investors through a share placing, subject to shareholder approval.
DOMINION PETROLEUM: Tanzania farm-out to M&P; GULF KEYSTONE: BG buys Algeria stake
MADAGASCAR: Shaanxi Yanchang joint venture; TANZANIA: Likonde drilling; NIGERIA: ONGC investmentl; AFREN: Nigeria discovery raises reserves estimates; OANDO: Rights issue
Aminex has farmed out a 12.5% interest in the planned Likonde-1 well on the Ruvuma licence to Solo Oil, whose executive chairman is Lonrho’s David Lenigas.
BERGEN OILFIELD SERVICES: Statoil award; CAIRN ENERGY: Tunisia stake swap; PGS: Geokinetics to acquire onshore seismic business; SONGA OFFSHORE: Rig to move to Equatorial Guinea