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GE on 2 May announced an order from Angola’s AE Energia for seven TM2500 mobile aeroderivative gas turbine generator sets for state power producer Empresa Pública de Produção de Electricidade (Prodel). The TM2500 units will be installed in Namibe, Huila and Cuando Cubango provinces and will be capable of providing the remaining 200MW of power for the government to achieve a targeted 1GW of electricity by end-2018.

Angola
Issue 346 - 19 May 2017

Angola, Cobalt seeks arbitration

Subscriber

Cobalt International Energy has filed two arbitration requests with the International Chamber of Commerce (ICC) in Paris seeking more than $2bn in compensation from Sonangol. In March 2017, Cobalt submitted a notice of dispute to Sonangol EP over the sale of the US company’s 40% holdings in blocks 20 and 21. In an operational update on 8 May, Cobalt said it had now filed a request for arbitration with the ICC against Sonangol EP for breach of the August 2015 purchase and sale agreement for the sale by Cobalt to Sonangol of the assets.

Angola
Subscriber

The UK’s Independent Power Corporation Plc (IPC) has launched a new power development company, QG Power Africa, in a joint venture with its existing partner, engineering consultancy Tomé International, and the $250m QG Africa Mezzanine LP investment fund managed by Quantum Global Group’s QG Investments Africa Management. Established to develop power plants across sub-Saharan Africa, QG Power will focus initially on Angola, Botswana, Mozambique, Uganda, Nigeria, Kenya and Ghana. QG Africa Mezzanine will support the joint venture as strategic investor, while Swiss-based Tomé will be responsible for project management and IPC for the development of the power assets.

Angola
Subscriber

The US Securities and Exchange Commission (SEC) has launched an investigation into payments made to Sonangol by Cobalt International Energy for a research centre that has yet to materialise. In its 10-K annual filing on 14 March, Cobalt said that, on 13 March, the SEC had informed the company by telephone that it had initiated an informal inquiry related to the Sonangol Research and Technology Centre. Payments for the centre were a condition of a production-sharing contract signed by Cobalt and BP in December 2011.

Angola
Issue 342 - 16 March 2017

Angola: Sonangol seeks rig clients

Subscriber

Sonangol is seeking help from international oil companies (IOCs) to secure the release of two drilling rigs ordered from South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME). The rigs were ready for delivery last year, but Sonangol was unable to pay the balance of the purchase price. Sonangol said in a statement that work was ongoing to secure financing, select technical and operational partners, and identify new production opportunities to employ the drilling rigs in the Angolan market.

Angola
Subscriber

Chevron announced on 8 March that its Cabinda Gulf Oil Company (Cabgoc) subsidiary had begun producing oil and gas from the main production facility of the Mafumeira Sul project.Located 24km offshore Cabinda province in 60 metres of water, Mafumeira Sul is the second stage of development of the Mafumeira field in Block 0. It has a design capacity of 150,000 b/d of liquids and 350mcf/d of natural gas.

Angola
Free

General Electric’s Angolan partner AE Energia has delivered three 28MW turbines to the Quileva thermal power plant in Lobito to increase its capacity to 215MW. The TM 2500 turbines, which were manufactured at a GE plant in Hungary, will undergo testing before being connected to the grid. The Ministry of Energy and Water said the increased generation capacity aims to improve supply to the cities of Benguela, Lobito, Catumbela and Baía Farta.

Angola
Issue 340 - 16 February 2017

Angola: US DoJ closes Cobalt FCPA probe

Subscriber

Cobalt International Energy said on 9 February that the US Department of Justice (DoJ) had closed its investigation into Cobalt’s operations in Angola. The DoJ and the US Securities and Exchange Commission (SEC) began investigating Cobalt in 2011 in response to allegations of a connection between senior Angolan government officials and Nazaki Oil and Gas, an Angolan company that, until 2014, held a working interest alongside Cobalt on blocks 9 and 21 (AE 284/21).

Angola
Subscriber

The first turbine of the 750MW Soyo combined-cycle gas power plant in the far north on the Congolese border will be connected to the grid by the end of March, according to the Ministry of Energy and Water. The plant is being brought on line in phases and all four 187.5MW turbines should be operational by year-end. A 400km high-voltage transmission line between Soyo and Luanda is due to be completed in May. The cities of Nzeto, Tomboco, Mbanza Congo, Nóqui and Cuimba in the Zaire province will be the first to be connected to the grid.

Angola
Issue 340 - 16 February 2017

Eni starts up East Hub

Subscriber

Eni has started production from the East Hub development project in Block 15/06. Oil from nine wells on the Cabaça South East field is being produced to the Armada Olombendo floating production, storage and offloading (FPSO) vessel, with capacity of 80,000 b/d of oil and 3.4mcf/d of gas.East Hub will add to production from the existing West Hub Project in the Sangos, Cinguvu and Mpungi fields, where another vessel, the FPSO N’Goma, is operating (AE 291/15). In total, Block 15/06 will reach peak output of 150,000 b/d of oil this year.

Angola
Issue 337 - 22 December 2016

Angola: FPSO arrives for Eni’s East Hub

Subscriber

Eni’s floating production, storage and offloading (FPSO) vessel Armada Olombendo has arrived at Block 15/06 ready for next year’s start-up of the East Hub development project. The vessel was built at Keppel shipyard in Singapore for Malaysian FPSO operator Bumi Armada. Eni held a naming ceremony there on 14 October.

Angola
Subscriber

Sonangol’s new board has said that a thorough investigation of the parastatal’s financial and management problems has revealed that the situation is worse than expected. With $1.6bn of debt payments due by year-end, the company has been in talks with international banks to secure financing. The company’s total debt is estimated at $9.85bn.A 1 December statement by the new board said Sonangol had failed to adjust its strategy to cope with the sharp reduction in revenue caused by the oil price crash.

Angola
Subscriber

The Industrial and Commercial Bank of China (ICBC) will provide up to $4.5bn of finance for the construction of the 2,171MW Caculo Cabaça dam on the Kwanza River, 19km downstream from the 2,070MW Laúca dam. The contract for what will be Angola’s biggest dam was signed in Beijing on 29 November by Angolan finance minister Archer Mangueira. The project will benefit from insurance cover by Sinosure to guarantee the investment, China’s largest in Angola to date.

Angola
Issue 335 - 24 November 2016

Angola/Namibia: RfP for interconnector

Subscriber

The Southern African Power Pool Coordination Centre (SAPP CC) has issued a request for proposals from shortlisted consultants for transaction advisory services for the Angola-Namibia transmission interconnector project. The project is being sponsored by Angolan transmission company Rede Nacional de Transporte de Electricidade (RNT) and Namibia Power Corporation (NamPower), and coordinated by SAPP CC, with funding from the European Union, Germany’s KfW, the government of Norway and the Swedish International Development Cooperation Agency. The Angola-Namibia transmission interconnector is expected to link the electricity networks in northwestern Namibia and southern Angola.

Angola | Namibia
Issue 335 - 24 November 2016

Angola: Mafumeira Sul start-up

Subscriber

Sonangol EP announced the start on 31 October of the early production system on the south wellhead platform of the Mafumeira Sul project. The Chevron-operated project is located about 24km off the coast of Malongo in water depths of about 60 metres. It includes a central processing facility, two wellhead platforms, 121km of subsea pipelines, 34 producing wells and 16 water injection wells. The facility has a design capacity of 150,000 b/d of liquids and 350mcf/d of natural gas per day.

Angola