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Questions have been raised about Victoria Oil and Gas (VOG)'s  ability to continue after the International Chamber of Commerce (ICC) made a substantial award against it in early April. VOG is a business whose importance extends beyond the narrow interests of its shareholders. Its subsidiary Gaz du Cameroun (GDC) is one of the continent’s rare onshore gas producers that sells to a local clientele.

The Ministry of Energy and Water Resources is seeking expressions of interest from consultants to support financial planning for its rural electrification strategy, as resources and energy minister Gaston Eloundou Essomba revealed an estimated financing gap of FCFA874bn ($435m) for 2022-30.

Water resources and energy minister Gaston Eloundou Essomba has told utility Eneo it must implement the “daily rationing of energy-intensive firms in the city of Douala and its surrounding”, in a letter addressed to chief executive Eric Munsay.

London AIM-listed Savannah Energy raised $65m on 30 December through a share placing with institutional and other investors. Buyers included five of the company’s six directors, led by chief executive Andrew Knott, who subscribed to £2.2m ($3m)-worth of shares. The proceeds will be used alongside debt and other financing to fund the acquisition of upstream and midstream assets in Chad and Cameroon from ExxonMobil Corporation and Petronas E&P, announced earlier in the month.

Release, the containerised solar power unit set up by Norway’s Scatec, has signed agreements for solar PV and battery projects in Cameroon and Chad – the first large utility and mini-grid contracts it has signed since being launched in 2019.

London AIM-listed Savannah Energy will spend at least $626m acquiring Petronas and ExxonMobil’s upstream and midstream assets in Chad and Cameroon, completing a process first signalled on 2 June when the company said it was in advanced discussions with ExxonMobil for the portfolio.

Cameroon’s government has applied to the Export–Import Bank of China (China Eximbank) to support construction of the long-planned 72MW Menchum hydroelectric power (HEP) dam in the politically and environmentally sensitive northwest of the country, as it tries to give momentum to a number of stalled HEP schemes.

Italy’s ATB Group, equipment supplier and engineering and construction contractor at the Nachtigal hydroelectric power (HEP) plant, has started construction of penstocks in what ATB site manager Mohsan Latif described on 12 November as “another important milestone”.

Two biomass projects planned by the United Nations Industrial Development Organisation (Unido) will be retendered, Unido Procurement Services Division officer Alex Eruwa told African Energy.

Tower Resources on 10 August announced a binding heads of agreement to farm out a 49% non-operating working interest in the Thali production-sharing contract (PSC) to Lagos-based Beluga Energy. The farm-out – for a 119km2 block in water depths 8-48 metres in the Rio del Rey Basin – provides $15m towards the Njom-3 well’s approximately $16.8m cost.

A €685m ($812.5m) ten-year sovereign Eurobond attracted €2.26bn-worth of orders, pointing to the global market’s search for yield but also to the beneficial impact of rising crude oil prices on fragile producer economies.

Former Tullow Oil chief executive Paul McDade has fashioned a new company to take advantage of the changing landscape in the continent’s oil and gas sector, he tells James Gavin.

There are signs of activity for the country’s hydrocarbons sectors, with Victoria Oil & Gas raising fresh finance to develop its onshore Matanda licence and other operators edging towards further developments offshore, writes James Gavin.

ExxonMobil Corporation has relinquished its interest in Ghana’s Deepwater Cape Three Points (DWCTP) Block – until recently seen as highly promising offshore acreage, on-trend with the US major’s big Atlantic play in Guyana – and entered talks to sell its upstream and midstream assets in Chad and Cameroon, where more than a decade ago development of the Chad-Cameroon export pipeline was a major issue in development policy circles.

France’s Orion Energies expects to commission two of its projects in 2022 and 2023. Financial close for the 30MWp Ngaoundere solar PV plant, with 20MWh of battery storage, in the Adamaoua region of Cameroon is anticipated by year-end, Orion director Hadrien Clement told African Energy, with construction scheduled to be completed by H1 2022.