Search results

Euronext Paris and New York Stock Exchange-listed CGGVeritas on 16 April announced that, after negotiations with Total Exploration & Production Angola and state oil company Sonangol, it had been awarded a five-year contract for planned 4D seismic processing and imaging of annual and biennial monitor surveys offshore Angola

Seeing big upside in its Kwanza Basin pre-salt play offshore Angola, US independent Vaalco Energy, announcing its 2011 results, said it “believes it will have a new partner for Block 5 in 2012”

Sonangol has signed agreements with a list of mostly majors for nine offshore blocks in the Kwanza Basin, where it hopes to emulate Brazil’s pre-salt success

Algeria’s council of ministers has approved the sale of an 18.375% interest in the Isarene production-sharing contract (PSC) to Enel Trade SpA (Enel); Doris Engineering has given UK-based Jee a contract for specialist subsea and riser engineering for the deep-water Kaombo pipeline system on Total’s Block 32; Operator SOCO International has encountered non-commercial hydrocarbons in the Makouala Marine-1 exploration well on the Marine XIV licence; Egyptian General Petroleum Corporation (EGPC) has extended the deadline for its licensing round to 29 March; Golden Crescent Investments, a Citadel Capital opportunity-specific fund, has agreed to sell its interest in National Petroleum Company Egypt Limited (NPC Egypt) to Canada’s Sea Dragon Energy; Hess has issued a letter of award to Seadrill to enter into an eight-well drilling contract for the semi-tender rig West Esperanza; Australia’s Tangiers Petroleum plans to list on London’s Alternative Investment Market on 3 February and has begun a 677km2 3D seismic acquisition programme in its offshore Tarfaya Block; Circle Oil has completed the construction phase of the new Sebou-Kenitra 8-inch pipeline; TVI Pacific has opted not to take part in the second exploration phase for the Tenere Block with China National Petroleum Corporation; PA Resources has sold its stakes in the Ezzaouia and El Bibane oil-producing fields to Candax Energy for $4m

SBM Offshore has signed contracts with Italy’s Eni for the 12-year lease and operation of the Xikomba floating production, storage and offloading vessel (FPSO) on the Block 15/06 development.

Sintez Group affiliate Nakor Investments, the main equity holder in Block 1711 in the Namibe Basin bordering Angola, has relinquished most of its 70% stake. Interim operator Energulf Resources said the Russian company would retain a 10% carried interest. Energulf, which holds a 10% working interest, will receive an additional

Total inaugurated the Pazflor development on Block 17 on 22 November with a ceremony attended by petroleum minister José Maria Botelho de Vasconcelos, Sonangol

The SAPP is putting on a brave face about prospects for the region’s electricity supply industry and its own performance, looking to inflows of investment to install more generation capacity across southern Africa and for the pool’s trading mechanisms to gain momentum

Sonangol’s investment arm Sonangol Holdings has further extended its international reach with an agreement to acquire a 20% stake in Trafigura subsidiary Puma Energy International. The companies, through their affiliates Sonagas and DT Holdings, have also agreed to develop joint investment opportunities in natural gas and natural gas liquids and their trading.

Angola’s oil parastatal has raised a $1bn ten-year loan facility backed by South Korea, marking an unprecedented tenor for one of the most regular African users of international syndicated loan markets, writes Kevin Godier

Block 17 operator Total on 26 August announced the start-up of the giant Pazflor field; Houston-based Cobalt International Energy has spudded the Cameia #1 well targeting a pre-salt prospect on Block 21.  

SOCO International is preparing to drill up to three offshore exploration wells, with the first well expected to spud in early September.

ANGOLA: ROC Cabinda stake sale; ANGOLA: New find for Total; ANGOLA: Pazflor FPSO in place

While banks await mandates to raise a new mega-loan for state oil company Sonangol (AE 207/21), monetary authorities in Luanda are also considering coming to the market this year for Angola to issue its long-awaited debut Eurobond.

ANGOLA: Cobalt pre-salt plans; GABON: Dussafu drilling; SOUTH AFRICA: Shale gas exploration halt in Karoo; TANZANIA: BG contracts new rig