Search results

Tullow Oil has agreed a farm-in to Guinea’s offshore, taking over operatorship from Houston-based Hyperdynamics, which drilled a dry well on the acreage earlier this year.

Guinea has reached the completion point for the Heavily Indebted Poor Countries (HIPC) initiative, paving the way for $2.1bn of debt relief.

Mining gold from the hillsides in north-east Guinea poses huge challenges for investors and the community alike, underlining the need to tackle a range of sensitive issues and manage expectations in long ignored regions of highly under-developed economies, writes Thalia Griffiths, recently in Lero.

As part of its efforts to improve the availability, reliability, efficacy and quality of electricity services in Conakry, Electricité de Guinée (EDG) has issued a tender for the supply of 16,000 single-phase prepaid meters and 4,000 three-phase prepaid meters with associated cables and connection materials.

President Alpha Condé’s election offers the prospect of democratic rule, but he faces an enormous task in developing his troubled state to meet voters’ and investors’ expectations, writes Thalia Griffiths, recently in Conakry

The African Development Bank (AfDB) received $43.7m at the 42nd Council Meeting of the Global Environment Facility (GEF) in Washington on 5-7 June.

The Ministry of Mines and Geology has approved Simba Energy’s acquisition of a 60% stake in blocks 1 and 2 in the onshore Bove Basin

Aker Solutions Singapore Pte has signed a two-year frame agreement with Badr El Din Petroleum Company (Bapetco) to be the sole supplier for its surface wellhead equipment, installation and lifecycle services operations in the Western Desert; Houston-based Hyperdynamics Corporation on 18 April announced it had engaged BofA Merrill Lynch as financial adviser to assist with the potential sale of a portion of its 77% interest in its 25,000km2 exploration concession offshore Guinea; French major Total on 12 April announced that it had decided not to proceed with an offer for London AIM-listed Wessex Exploration

European ratings agency Fitch has revised Gabon’s outlook to positive and affirmed its BB- rating; The Paris Club of creditor governments on 11 April agreed to alleviate Guinea’s external public debt, putting its Heavily Indebted Poor Countries (HIPC) programme back on track after several years of political turmoil

Hyperdynamics Corporation has announced that its Sabu-1 well failed to find commercial hydrocarbons, adding to pressure on the cash-strapped company

US minnow Hyperdynamics has managed to raise $30m with a share offering, just days after announcing another delay to its Sabu well

Dana Petroleum has announced a “new brand identity” aimed at helping it expand in Europe, the Middle East and Africa; Eve Howell has set up a new venture with Mauritania and Mali enthusiast Max de Vietri and Colombian geologist Ricardo Garzon, named EMR Resources; Vancouver-based Simba Energy has begun trading on the US over-the-counter market’s highest tier, the OTCQX, which aims to give international companies access to US investors

The new government of President Alpha Condé has received a good report from an International Monetary Fund (IMF) mission that visited on 10-22 November. Mission head Harry Snoek said Guinea had made good progress under its 2011 staff-monitored programme, which involves close supervision but no funding,

The well being drilled by Hyperdynamics on the Sabu prospect offshore Guinea has been delayed by operational issues with the Jasper Explorer drillship. Industry sources said

China is once again wooing the new Guinean government, offering badly needed power investment and a major bauxite project, writes Our Conakry Correspondent