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Italian executives have talked enthusiastically about the prospects for the Galsi pipeline project, given projections of rising European demand for natural gas in the next decade, despite the recent downturn. But Algiers is taking a hard-headed approach to building the pipeline, to run to Italy via Sardinia, and once more the signs from Algiers are that, five years after the Algerian and Italian partners signed their initial letter of intent, the project is in danger of collapse.

Algeria
Issue 236 - 27 July 2012

Morocco: Fastnet farm-in

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Newcomer Fastnet Oil and Gas, of which Cove Energy founder John Craven is a major shareholder, has bought into Kosmos Energy’s Foum Assaka Block. Fastnet has bought Pathfinder Hydrocarbon Ventures from its parent Pathfinder Energy Maghreb for $8m in cash and shares.

Morocco
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Shell Nigeria Exploration and Production Company (SNEPCo) faces a potential $5bn fine for its Bonga offshore oil spill last December, when 40,000 bbls of crude leaked into the Gulf of Guinea.

Nigeria
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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 236 - 27 July 2012

Ghana: PetroSA may buy Sabre assets

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South Africa’s PetroSA is in talks to buy assets in Ghana from Sabre Oil and Gas, including a stake in the Jubilee field.

Ghana
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Marathon Oil Corporation has signed a farm-out agreement with Africa Oil Corporation to acquire a 50% interest in Block 9 and a 15% interest in Block 12A. Africa Oil will remain as operator in Block 9, but Marathon Oil has the right to take over if a commercial discovery is made.

Kenya
Issue 236 - 27 July 2012

Ghana’s unfinished business

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The death of Ghanaian President John Evans Atta Mills will have many repercussions, at home and abroad, one of which is to further postpone any settlement of the maritime border dispute with Côte d’Ivoire. Vice president John Dramani Mahama has taken over, but the government will be preoccupied with elections scheduled for December.

Ghana
Free

Sovereignty, governance and security remain the overriding priorities as Libya’s outgoing National Transitional Council (NTC) prepares to hand over power to the newly elected 200-member National Congress. The congress will be responsible for overseeing the next stage of Libya’s transition, leading to further elections next year once a constitution has been written and approved by a referendum. The congress and the executive that it will appoint once a ruling majority is formed must also kick-start economic and social development, without which the population will speedily turn against these new democratic institutions.

Libya
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After gaining cabinet approval, the National Assembly is to debate the new Petroleum Industry Bill, which may finally lead to a radical overhaul of the sector and open the way for much-needed investment, writes David Slater

Nigeria
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Takoradi International Company (Tico), led by Abu Dhabi National Energy Company (Taqa), is set to begin the 110MW Takoradi II expansion project at its power plant in western Ghana, after securing a $329.6m package of financing and government approvals.

Ghana
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Heritage Oil has won the battle for Shell’s producing OML 30 in an $850m deal that will significantly boost production and reserves. Heritage has set up a joint venture called Shoreline Natural Resources with local partner Shoreline Power Company to acquire 45% in the block from Shell Petroleum Development Company, Total E&P Nigeria and Nigerian Agip Oil Company.

Nigeria
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New group managing director of Nigerian National Petroleum Corporation (NNPC) Andrew Laah Yakubu was the choice of his sacked predecessor Austen Oniwon. Oniwon is close to petroleum minister Diezani Alison-Madueke, and appears to have been sacrificed to take the heat off Madueke and other senior officials who might otherwise carry the can for the fuel subsidy scandal.

Nigeria
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Madagascar Oil’s onshore heavy oil ambitions apart, there is little movement on other upstream projects, not least due to a difficult political environment in which controversial President Andry Rajoelina has sought to control the nascent oil industry while consolidating his power base in Antananarivo.

Madagascar
Issue 235 - 13 July 2012

Power Pointers Kenya

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Aggreko awarded six-month extension on Embakasi; KEC International, Siemens win substation contracts

Kenya
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The generation situation is manageable, and a number of projects that have resumed since the conflict are due on stream in coming months, electricity and renewable energy minister Awad Ibrahim told industry executives during EnergyNet’s 26-28 June Africa Energy Forum in Berlin.

Libya