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Chinese engineering, procurement and construction contractor Sinohydro Corporation has started recruiting 700 construction workers for the Kinguélé Aval hydroelectric power (HEP) plant on the M’Bei River in Estuaire province.
Amid a waning consensus over strategy, the Opec+ meeting in early June broke up with African members unhappy at an unwelcome squeeze on their future production while Saudi Arabia made a unilateral output cut of 1m b/d, reflecting Riyadh’s determination to shape market forces, writes Jon Marks.
The offshore Dussafu permit is the focus of a six-well drilling campaign, as Gabon looks to address its declining oil production from maturing fields, while IOCs rationalise their assets and plan further exploration, writes James Gavin.
The International Monetary Fund has trimmed its economic growth expectations for sub-Saharan Africa in its latest World Economic Outlook to 3.6% for 2023. Low-income countries are expected to outperform most of their richer neighbours, but some analysts have warned the IMF is being overly optimistic.
London-listed Tullow Oil reported a rise in revenues and profits in its full-year results issued in early March and sought to focus attention on its prospects in Ghana and Kenya instead of its high levels of debt and ongoing litigation issues. African Energy takes a closer look at Tullow’s prospects for 2023 and beyond.
Perenco’s move to install a production unit will usher in small-scale export LNG production in Gabon for the first time, as well as promoting butane self-sufficiency.
Gabon Power Company (GPC) reported that a consortium of lenders met in Libreville as part of their appraisal of the 120MW Owendo gas-fired independent power project (IPP).
The Gabonese government is planning to sell carbon credits to fund two hydroelectric projects, with a combined capacity of 88MW.
Private equity fund Carlyle Group is looking to exit its Gabon-focused oil and gas company Assala Energy, five years after it picked up ther asset from Shell for $628m.
Having closed its $307m merger with Canada’s TransGlobe Energy, Houston-headquartered Vaalco Energy is looking to exploit potential cost savings of up to $50m, its chief executive George Maxwell told African Energy.
Houston-based Vaalco Energy said on 27 September that results from drilling of the North Tchibala 2H-ST well in the offshore Etame field had exceeded expectations.
A wind of change is blowing through Seeg, whose electricity and water activities are to be split into two companies under a new chief executive, but the Gabonese state utility remains dogged by structural problems, including large debts owed by state entities and under-investment in the grid – all of which makes Seeg’s potential privatisation a huge challenge.
“I will never abandon you,” President Ali Bongo Ondimba told his fellow citizens in an emotional Independence Day address on 17 August, talking of “great ambitions” for his country “in the months and years to come.”
Construction work has begun at the 120MW Ayémé solar PV plant. The facility is being built in two, 60MW phases.
Oil production rose 14% in July to go above 200,000 b/d for the first time in more than two years. Output had averaged just 181,000 b/d in 2021, according to Opec, compared to 207,000 b/d in 2020.
