Search results

General

Type

Sector

Regions

Sort options

3,759 results found for your search

Issue 193 - 11 September 2010

Eni farms in with Surestream

Free

Italy’s Eni has expanded its central African footprint by moving into the Democratic Republic of Congo with a farm-in agreement with Surestream Petroleum to acquire 55% and operatorship in the Ndunda Block.

DR Congo
Issue 313 - 04 December 2015

Kenya: Services company refocuses

Subscriber

AIM-listed services company Atlas Development and Support Services is to place its Kenyan subsidiaries into liquidation. The company, which has serial entrepreneur Andrew Groves as a non-executive director, will focus on its new industrial division and joint venture with Orchid Business Group in Ethiopia. The company, which changed its name from Africa Oilfield Logistics a year ago, blamed the move on “the downturn in the oil and gas industry, market adjustments and the failure of certain key clients to settle debts, together with increasing creditor pressure”.

Kenya
Subscriber

Sound Energy has announced a field management agreement with Schlumberger for the onshore Tendrara licence. Under the agreement, Schlumberger will provide integrated technical services, equipment and personnel to Sound, and will pay part of the cost of the first three Tendrara appraisal wells, and the cost of developing the licence area after that. In exchange, Schlumberger will be granted an upside linked to production performance.

Morocco
Subscriber

Tullow Oil has added to its Walvis Basin acreage, taking up to 40% in Block 2012A from Eco Atlantic Oil & Gas. The block lies immediately to the north of Block 2012B, where Tullow farmed in in September 2013 and acquired 1,000km of 2D and 3,000km2 of 3D seismic earlier this year. Initial data mapping has identified four main prospects, inclusing Albatross, a Cretaceous turbidite fan structure, the same play that proved succesful offshore Ghana. Tullow also operates the Kudu gas field offshore southern Namibia, where a gas-to-power development is planned.

Namibia
Free

Hyperdynamics and AGR Well Management have reached a settlement in their dispute over cost overruns for the Sabu well offshore Guinea, three weeks before the case was due to open in London. AGR provided project management services for Hyperdynamics’ subsidiary SCS Corporation for the well in 2011-12. Under the settlement, SCS will receive $17.7m from an escrow account previously established by the companies. The net proceeds to SCS will be $15.6m after reconciliation of a joint interest account with block partner Dana Petroleum.

Guinea
Subscriber

Tullow Oil has announced that the Cheptuket-1 well in Block 12A has encountered oil shows across more than 700 metres. Cheptuket-1 is the first well in the Kerio Valley Basin and was drilled by the PR Marriott Rig-46 to a final depth of 3,083 metres, testing a structural closure in the south-western part of the basin. The rig will now be demobilised. “This is the most significant well result to date in Kenya outside the South Lokichar Basin. Encountering strong oil shows across such a large interval is very encouraging indeed. I am delighted by this wildcat well result and the team are already working on our follow-up exploration plans for the Kerio Valley Basin,” said exploration director Angus McCoss. Tullow’s partners on the block are Delonex Energy, which acquired Marathon’s Kenya assets last year and Africa Oil Corporation.

Kenya
Issue 335 - 24 November 2016

Angola: Mafumeira Sul start-up

Subscriber

Sonangol EP announced the start on 31 October of the early production system on the south wellhead platform of the Mafumeira Sul project. The Chevron-operated project is located about 24km off the coast of Malongo in water depths of about 60 metres. It includes a central processing facility, two wellhead platforms, 121km of subsea pipelines, 34 producing wells and 16 water injection wells. The facility has a design capacity of 150,000 b/d of liquids and 350mcf/d of natural gas per day.

Angola
Subscriber

The revelations and opinions included in leaked US cables suggest it is business as usual in the Nigerian oil industry, where IOCs and indigenous players are looking to trade more acreage, speculation surrounds a proposed marginal fields round and decisions on new natural gas schemes are being pushed ahead of next April’s elections

Nigeria
Subscriber

Diversions of gas to the domestic market forced BG Group on 27 January to issue force majeure notices under its liquefied natural gas (LNG) agreements. In a statement ahead of its 2013 Q4 and full-year results on 4 February, BG said the revised pooling arrangements put in place for 2013 had not been honoured and domestic diversions were at around capacity, close to 1bcf/d. “As a result, BG Group has been unable to meet in full its obligations to deliver gas to Egyptian LNG and, given the current levels of domestic diversions and the continued uncertainty around the level of future diversions, BG Group has served force majeure notices under its LNG agreements to buyers and lenders.

Egypt
Issue 415 - 15 May 2020

Ghana: Unitisation call

Subscriber

Energy minister John Peter Amewu has written to Eni Ghana and local explorer Springfield E&P directing them to hold talks on unitisation of their Sankofa and Afina fields. Citing what it said was technical evidence that the reservoir straddles both blocks, the 9 April letter said the companies should hold talks within 30 days on a process leading to the joint operation of the two fields and gave them 120 days to provide the ministry with a draft agreement.

Ghana
Subscriber

African Petroleum Corporation has signed a contract to acquire more than 1,000km3 of 3D seismic on Block SL-4A-10, offshore Sierra Leone, in addition to the existing 3D coverage. Acquisition is expected to begin in Q3. The company was awarded SL-03 in April 2010, and the adjacent SL-4A-10 as part of Sierra Leone’s third offshore licensing round in 2012. Both licences are in their first exploration period. Exploration offshore Sierra Leone has so far failed to find commercial quantities of oil and gas, but African Petroleum says it has identified a number of prospects.

Sierra Leone
Subscriber

ANGOLA: Cobalt pre-salt plans; GABON: Dussafu drilling; SOUTH AFRICA: Shale gas exploration halt in Karoo; TANZANIA: BG contracts new rig

Angola | Gabon | Tanzania | South Africa
Free

Minerals giant Glencore Xstrata has agreed to buy its Chad partner Caracal Energy for £5.50/share, valuing the Canadian company at $1.35bn. The deal means Caracal will walk away from a previously agreed merger with Calgary-based TransGlobe Energy Corporation, paying a $9.25m termination fee (AE 274/14). The sale price represents a 61% premium to the £3.42 closing price of Caracal’s shares on 11 April, the last trading day before the announcement. Despite this, the price is widely seen as a good deal for Glencore, representing an internal rate of return of more than 20%. The deal is also good news for Calgary-based United Hydrocarbon International Corporation, which is looking for a partner for its DOC and DOD licences, where it believes it has structures analogous to Kenya’s prolific South Lokichar Basin (AE 274/17).

Cameroon | Chad
Issue 199 - 03 December 2010

Mozambique: New gas find for Anadarko

Subscriber

Anadarko Petroleum Corporation has announced its third major natural gas discovery this year in Offshore Area 1 of the Rovuma Basin

Mozambique
Issue 414 - 01 May 2020

Gambia: TGS launches 3D survey

Subscriber

TGS announced on 17 April that it had begun acquisition of a 3D seismic survey offshore The Gambia using the BGP Prospector vessel. The 4,770km2 Gambito 2020 3D survey covers open acreage in deep and ultra-deep water where extensive basin-floor fans were identified in TGS 2D regional seismic grids. The survey will be adjacent to the 30,000km2 Jaan 3D multi-client seismic project, which extends from Senegal to Guinea.

Gambia