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A source at the presidency has told African Energy that President Alpha Condé and his advisers were discussing a new attempt to privatise Electricité de Guinée (EDG). A management contract for its predecessor company Société Guinéenne d’Electricité was granted in 1994 to Electricité de France (EDF), Hydro-Quebec International and Saur, but they pulled out in 2001, complaining that the government of late president Lansana Conté had made no serious response to their turnaround proposals.

Guinea
Subscriber

Ethnic clashes in the Nzérékoré region in mid-July that left at least 58 people dead and 160 injured have somewhat overshadowed recent protests against the lack of power. In a speech to the nation in January 2013, President Alpha Condé promised to roll out an emergency plan to improve supply to the capital by the middle of the year. The aim was to increase thermal capacity to improve supply until planned hydro projects come on stream. When Condé came to power in December 2010, Guinea had available capacity of only around 80MW. Efforts to add 100MW of short-term thermal capacity and another 240MW of new hydro have not gone smoothly, but reliable power supply will be critical if Guinea is to realise plans to develop the economy by exploiting the country’s mineral wealth.

Guinea
Subscriber

A 24 May case management conference heard initial submissions in a tripartite case pitting SCS Corporation against AGR Well Management and drilling company Jasper Offshore. Hyperdynamics subsidiary SCS alleges that AGR – introduced by joint venture partner Dana Petroleum – caused the project to overrun and costs to balloon through inefficiency and incompetence. Singapore-based Jasper, which AGR contracted separately to undertake the drilling, has counter-claimed against AGR for $10m in outstanding invoices. SCS seeks indemnification of $47.3m, having paid AGR $107.6m for the project, while leaving $19.2m in an escrow account pending resolution of the dispute.




Guinea
Subscriber

For eight years, private firm eleQtra has managed projects for InfraCo Africa, an investment group affiliated with the Private Infrastructure Development Group, a group of European countries plus the World Bank that work to boost infrastructural development in hard-to-reach markets. eleQtra managing director Richard Parry told African Energy InfraCo currently has power projects in Cape Verde, Senegal, Zambia and Ghana, and is working with mining company Rio Tinto to provide electricity to the Guinean town of Beyla through a 1MW hydro power plant on the Cessou River.

Ghana | Cabo Verde | Guinea
Subscriber

Following the 14 April arrest in Florida of a former BSG Resources (BSGR) associate, Frédéric Cilins, the Guinean authorities have detained Ibrahima Sory Touré, a senior manager in the company’s local unit. Cilins, who was involved in setting up the BSGR office in Guinea in the mid-2000s was charged with obstructing a criminal investigation, tampering with a witness and destruction of records.

Guinea
Issue 252 - 19 April 2013

Steinmetz sues former adviser

Subscriber

Israeli-French mining entrepreneur Beny Steinmetz has launched a case in London’s High Court against his former public relations adviser FTI Consulting, naming individuals such as former UK minister Lord Mark Malloch Brown (MMB) and business magnate George Soros. In court documents, Steinmetz’s company BSG Resources (BSGR) details how FTI was instructed to defend its interests when it was facing “untrue and damaging” allegations over a mining project in Guinea, but “from the moment MMB joined FTI [in September 2010 as Europe, Middle East and Africa chairman], FTI was in serious breach of its contractual and fiduciary duties to BSGR, including to act in its best interests”.

Guinea
Subscriber

Tullow Oil has agreed to brave Guinea’s complex operating environment, taking a 40% stake in Hyperdynamics’ offshore concession. Past exploration has been a saga of corrupt governments and inexpert partners, but Tullow’s arrival comes as the government of President Alpha Condé tries to overturn the legacy of dictatorship and military rule. Tullow chief executive Aidan Heavey told African Energy in early November that the geology of the offshore concession was highly promising.

Guinea
Subscriber

The government is seeking expressions of interest from consultants to revise Guinea’s petroleum code and model production-sharing contract. The aim is to revise the 1986 law to bring it and the model contract in line with international best practice. Bids are due by noon on 15 November.

Guinea
Issue 242 - 01 November 2012

Tullow braves Guinea’s troubled waters

Subscriber

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
Issue 240 - 05 October 2012

Guinea: HIPC debt relief

Subscriber

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

Guinea
Subscriber

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.

Guinea
Issue 237 - 10 August 2012

Guinea: Tender for prepaid meters

Subscriber

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.

Guinea
Subscriber

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

Guinea
Issue 234 - 29 June 2012

GEF puts $43.7m towards renewables

Subscriber

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.

Guinea
Issue 232 - 01 June 2012

Simba farm-in approved

Subscriber

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

Guinea