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PA Resources AB has entered into a one year $125m corporate finance facility agreement with Standard Bank.

The Ministry of Mines, Industry and Energy has sanctioned Noble Energy’s development plan for the Aseng oil field in Block I and production is set to start in 2012.

Seven years after the Riggs bank scandal broke, oil sector governance in Equatorial Guinea remains opaque, according to a new report from Human Rights Watch which details the close business ties between US oil groups and service companies owned by President Obiang’s family.

Human Rights Watch’s new report lists a number of business dealings between relatives of President Obiang and US

Equatorial Guinea has moved a step closer to ending the flaring of associated gas from ExxonMobil’s Zafiro field, with a new joint venture agreement between Afren associate Gasol and Sociedad Nacional de Gas GE (Sonagas).

E.ON Ruhrgas has stolen a march on established US energy companies in Equatorial Guinea by grabbing the lead role in government plans to develop its gas industry, writes A Special Correspondent in Malabo. Germany’s E.ON Ruhrgas says it is looking to Equatorial Guinea as a “cornerstone” in its plans to diversify its sources of gas supply, but a new consortium of European gas players has alarmed US companies already

Undeterred by the region’s numerous challenges, Germany’s E.ON Ruhrgas is expanding into North and West Africa as it moves to secure gas and LNG supplies for its European markets, writes Thalia Griffiths.

Following its two finds on Block I, Noble Energy has announced an oil discovery at the Carmen prospect, its first well on Block O.

Operator Ophir Energy has made two gas discoveries in Block R offshore Bioko Island. The Ministry of Mines, Industry and Energy said the R-2 (Fortuna-1) well, the second well drilled by Ophir on the block, was drilled to a total depth of 3,400 metres in 1,691 metres of water.

State gas company Sonagas has signed a memorandum of understanding with Germany’s E.ON Ruhrgas, Spain’s Unión Fenosa Gas and Portugal’s Galp Energia to set up a company to operate a gas gathering system in the Gulf of Guinea (the 3G Consortium).

ANGOLA: Deep-water rig contract; ANGOLA: Block 31 topsides contract; EQUATORIAL GUINEA: MoU with Gazprom Neft; GABON: Crude output rise forecast; LIBYA: Tatneft tender

Kosmos Energy would like more credit for Ghana’s Jubilee field, writes Our Accra Correspondent. Chairman James Musselman argued that his team of Triton Energy veterans who discovered and developed Equatorial Guinea’s deep-water Ceiba field had the experience that field operator Tullow Oil lacked.

Suntera Resources Ltd – a joint venture between Russian natural gas company Itera Group and India’s Russia-focused Sun Group – is pulling out of Equatorial Guniea, but plans greater involvement in Nigeria.

DR CONGO: Oil Ministry to meter production; EQUATORIAL GUINEA: CNOOC rig contract; ETHIOPIA: Aero survey plans; LIBYA: More RWE discoveries; LIBYA: Hellenic sells up; LIBYA: Punj Lloyd rig contract; NAMIBIA: Seismicl plans; SIERRA LEONE: Elixir hits snag on SL-4; TUNISIA: Ashtart upgrade contract

Pioneer Natural Resources has agreed to settle a dispute with Roc Oil, Atlas Petroleum International and Osborne Resources over its farm-in commitment in Block H (AE 118/15). The dispute related to a 2004 farm-in where Pioneer acquired a 20% interest in the block from Roc.