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DR CONGO: Snel management contract; EGYPT: Power plant switchboards tender; EGYPT: Ain El Sokhna tender; REGIONAL: Power line progress; SIERRA LEONE: Worker demonstration; SOUTH AFRICA: Renewable energy boost; SUDAN: Egyptians mobilise cement plant project; UGANDA: Tariff cuts criticised for being too limited; ZAMBIA: Solar energy gets funding
Tullow Oil has exercised its pre-emption right over Heritage Oil’s stakes in blocks 1 and 3A in Lake Albert, blocking their sale to Eni, which announced an agreement with Heritage last year.
EGYPT: Fuel subsidies remain big drain on budget; LIBYA: Turkey asks for direct crude sales; KENYA: Vitol to buy Mombasa storage terminal; UGANDA: Foster Wheeler wins refinery feasibility study; VOPAK/ZAMIL: Mena region LNG venture
Upstream E&P has escaped the worst of the global downturn, and buoyed up by the excitement over Ghana and Uganda, plus several gas developments, more activity is expected in 2010, writes Thalia Griffiths
Heritage Oil has entered into a letter of intent with Eni for the sale of its 50% interests in Uganda blocks 1 and 3A, and at the same time terminated merger talks with Turkey’s Genel Energy. The amount comprises cash of $1.35bn and a deferred consideration of $150m in cash or an interest in a mutually agreed producing field.
Equipment sought for mini hydro project; Zizabona project tender; : Consultant sought for wind farm project; Coal ambitions scaled down; Micro HEP approved, bigger project could follow; New AFESD funds for Ghannouch plant; Consultants sought for renewables projects
Heritage Oil & Gas plans to launch a six-well exploration and appraisal programme in Block 1 in Q4, targeting the Buffalo East, Crocodile and Leopard prospects.
The head of the Energy Regulatory Authority (ERA) has said the country’s high electricity tariffs are the result of costly emergency power and high transmission losses rather than illicit activity.
The World Bank Group’s International Finance Corporation (IFC) is to lend Umeme $25m to help the distribution company improve the quality of its service and connect up to 20,000 new customers a year.
EGYPT: Distribution tender; NIGERIA: Generation falls further; TANZANIA/UGANDA: Kagera hydro project to go ahead
News that Heritage and Addax seem to have found wealthy suitors, plus a series of share placings, suggest an uptick in the fortunes of junior oil companies as Asian players and some majors look to build their frontier E&P portfolios through mergers and acquisitions, writes Thalia Griffiths.
Tullow Oil has said its Kigogole-3 exploration well in the Butiaba region of Block 2 encountered over 20 metres of net oil pay in two separate zones.
Sweco to study power supply; New MD for Ugandan distribution company
Dismissed for years as a gas play at best, East Africa is now seeing a brisk pace of activity despite the debt woes besetting some of the region’s smaller pioneers
BOTSWANA: More power from Mozambique; KENYA: KPLC seeks bids for HFO plants; MOZAMBIQUE: EdM seeks substation bids; NIGERIA: GE tie-up; SOUTH AFRICA: Koeberg maintenance; UGANDA: Fichtner to study Isimba hydro project
