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Issue 244 - 29 November 2012

Republic of Congo: Dry well for Murphy

Free

Murphy Oil Corporation has announced that its Opale Marine-1 well in the Mer Profonde Nord permit was unsuccessful and has been plugged and abandoned. The total net cost of the well is estimated at $48m.

Congo Brazzaville
Issue 305 - 24 July 2015

Nigeria: Pipeline explosion

Subscriber

Some 13 oil workers were killed and two were injured on 9 July during the inspection and repair of a crude theft point on the Tebidaba-Clough Creek Line in the Niger Delta. The pipeline is owned and operated by the Nigerian Agip Oil Company (NAOC) joint venture. A fire away from the repair point ignited spilled hydrocarbons, and Eni said the fire appeared to have been triggered by people illegally obtaining crude from the pipeline.

Nigeria
Issue 406 - 19 December 2019

Ghana: Dossou-Aworet builds Tullow stake

Subscriber

African oil industry grandee Samuel Dossou-Aworet has built a 7.06% stake in Tullow Oil following the collapse in the company’s share price. Tullow shares lost around two thirds of their value after the company on 9 December cut its Ghana production forecast and announced the departure of chief executive Paul McDade and exploration director Angus McCoss.

Ghana
Issue 160 - 04 April 2009

Offshore find boosts gas search

Subscriber

Repsol YPF and its partners have announced an offshore gas find with the Anchois-1 well in the Tanger-Larache licence.

Morocco
Subscriber

Further to the signing of a framework agreement in May 2013, Total has concluded an agreement for Qatar Petroleum International to take a 15% shareholding in Total E&P Congo. The $1.6bn increase of Total E&P Congo’s capital will consolidate its financial capacity as it develops the Moho Nord deep offshore project, Total said. First oil from Moho Nord is expected in 2015, with output reaching 140,000 boe/d in 2017. QPI’s main focus is downstream, and its only other sub-Saharan asset is a 20% stake in Total’s Ta7 and Ta8 blocks in Mauritania, acquired in 2007.

Congo Brazzaville
Subscriber

As the deadline for solving the toughest challenges of Sudan’s peace agreement looms, both north and south are facing sharp falls in oil income, writes Thalia Griffiths.

Sudan
Subscriber

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
Free

The government has given conditional approval for the sale of Heritage Oil Corporation’s assets to Tullow Oil, paving the way for development of the Albertine Graben’s oil resources, while Tullow Uganda has also received approval for its subsequent farm-down of 33% stakes to CNOOC and Total.

Uganda
Issue 248 - 14 February 2013

Egypt: Eni hits oil in Western Desert

Subscriber

Italy’s Eni has announced a new oil discovery from the Rosa North 1X well in the Meleiha concession in the Western Desert. The company said the well formed part of a strategy to refocus exploration activities in Egypt by targeting deeper oil plays in the desert.

Egypt
Subscriber

The Instituto Nacional de Petróleo (INP) has again extended the closing date for the fifth licensing round, which will now conclude at noon on 30 July. The INP said companies had asked for a further delay to allow the completion of the required legal documentation. The round was launched in London and Maputo in October 2014, offering 15 blocks, covering a total 76,800km². Eleven are in the offshore: three-ultra deep areas in the Rovuma Basin, two to the south in the Angoche Basin and six in the Zambezi Delta. Three of the four onshore blocks surround the producing Pande and Temane fields, while a fourth is available at Palmeira, just north of Maputo. The round was initially due to close on 20 January, then 30 April .

Mozambique
Subscriber

A number of international oil companies have given guarded support to energy and mines minister Youcef Yousfi’s contention that upstream shale reserves hold the key to Algeria’s long-term dominance of global gas markets, even before a regulatory regime and incentives for non-conventional reserves are unveiled. IOCs are still calling on the government and regulator Alnaft to open up unconventional oil and gas.

Algeria
Subscriber

Kosmos Energy has launched a formal process to sell two thirds of its interest in the Mauritania/Senegal Basin, with bids expected by the end of the summer. Kosmos chairman and chief executive Andrew Inglis told a conference call on the company’s Q1 results on 6 May that the company had been encouraged by the response. “We’ve received considerable industry interest from around 15 large, highly credible companies who see the significant strategic value in gas assets and the size and quality of the resource.

Mauritania | Senegal
Subscriber

Oando plc hopes to complete asset sales by end-July to reduce its debt to more manageable levels and enable it to focus on developing its upstream business following the acquisition of ConocoPhillips’ Nigerian assets. “We are optimising our balance sheet by restructuring our existing debt facilities and deleveraging an estimated $350m in asset value,” Oando Energy Resources chief executive Pade Durotoye told African Energy in an interview. He said the company was selling 60% of the downstream business, 75% of its gas and power business, and the entire rigs operation.

Nigeria
Subscriber

The French company’s successful renegotiation of its two oil production contracts shows that business is carrying on as usual in the Jamahiriya, despite recent talk of renationalisation, writes John Hamilton.

Libya
Subscriber

Cobalt International: Gabon farm in and other plays; HERITAGE: Jersey move; NATIONAL OILWELL VARCO: Joint venture

Gabon