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Issue 157 - 20 February 2009

Petrol One brings in Norwegians

Subscriber

Saudi/Canadian Petrol One Corporation has signed a preliminary agreement with Norway’s Hemla Invest for Hemla to operate its Nkani property (AE 145/21).

Gabon
Subscriber

Société Nationale des Hydrocarbures (SNH) and Perenco have announced a final investment decision for an eight-year floating liquefied natural gas (LNG) project to sell gas to Russia’s Gazprom. On 27 November, Gazprom Marketing & Trading Singapore, Perenco Cameroon, Golar Hilli and Golar Cameroon signed agreements for the project, based on the allocation of 500bcf of natural gas reserves to be supplied by SNH and Perenco from the Sanaga Sud and Ebome fields. Golar will own and operate the Hilli vessel which is under conversion at the Keppel shipyard in Singapore. First LNG deliveries from the terminal are expected to start in H2 2017.

Cameroon
Subscriber

Ministers from Côte d’Ivoire, Equatorial Guinea and Ghana signed a protocol of agreement on 16 May creating a framework under which all three countries will work together to explore the possibility of establishing a jointly owned regional gas company. ‘All three countries are cognisant of the benefits that would be derived from the regional gas company, including new revenue streams from the sale of hitherto unexploited natural gas, creation of new jobs, and facilitating access to gas by power plants, industries and homes that need them as a source of energy or feedstock,” Equatorial Guinea’s Ministry of Mines, Industry and Energy said in a statement.

Ghana | Equatorial Guinea | Côte d'Ivoire
Issue 134 - 07 March 2008

Mixed news from Tullow Oil

Subscriber

The Odum well on the West Cape Three Points licence offshore Ghana has found a commercial light oil accumulation separate from the Jubilee field (AE 132/12). The discovery is a stratigraphic trap in a Campanian age fan system and opens a second new play fairway in the Tano Basin, Tullow said, adding that further prospectivity in this new Campanian play had already been identified in both

Ghana
Subscriber

Taipan Resources has announced that the Badada-1 well drilled by its Lion Petroleum subsidiary on Block 2B in the Anza Basin found only gas shows and will be plugged and abandoned. Badada had been touted as a potential play opener, but had also been the subject of court action by local people claiming they would be displaced by the well and had not been properly informed about the company’s operations. A temporary injunction halting drilling was lifted in December, allowing work to continue at the well site. A further hearing in the case is scheduled for 16 March.

Kenya
Issue 155 - 23 January 2009

TULLOW OIL: Luck of the Irish

Subscriber

Despite the turmoil hitting global markets, Tullow Oil says its $2bn debt refinancing is well advanced and is targeted to complete in February.

Ghana | Uganda
Subscriber

Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (Egas) have both launched bid rounds. EGPC is offering 11 exploration blocks in the Gulf of Suez, Western Desert and the Eastern Desert sedimentary basins, with bids due by 1 October. Egas is offering 16 blocks, 13 in the Mediterranean Sea and three in the onshore Nile Delta, with bids due by 8 October.

Egypt
Subscriber

Gasol has agreed to buy upstream company Energie de Côte d’Ivoire (Enerci) from GDF Suez E&P International. Enerci is an Ivorian-registered company that owns a 12% stake in the gas-producing CI-27 licence that includes the Foxtrot field. “The acquisition provides us with an opportunity to bring a revenue-generating, profitable and self-funding asset into the group and, as such, represents a key milestone in our development as well as a stable, financeable cash-flow base from which to grow,” said Gasol chief operating officer Alan Buxton.

Côte d'Ivoire
Subscriber

Vanoil Energy has signed a rig contract with Sinopec Corporation for two firm wells on Block 3A in north-east Kenya, and an option for two more. The contract, for what Vanoil described as “the last available onshore drilling rig in Kenya” follows a 100km2 3D seismic and gravity survey just completed over western leads on the block.

Kenya
Issue 370 - 01 June 2018

BP takes four Madagascar blocks

Subscriber

In a return to pure exploration for the UK major, BP has quietly taken 100% in four production-sharing contracts (PSCs) covering 45,000km2 offshore north-west Madagascar.The four blocks in the Majunga Basin, Ampasindava, Cap St André and Majunga 1 and 2 were previously held by ExxonMobil as three PSCs. ExxonMobil had planned a deep-water well on the Sifaka prospect on the Ampasindava Block, but drilling was repeatedly postponed amid the island’s political crisis.

Madagascar
Subscriber

Having passed the much-anticipated Petroleum Act 2012, and with the expectation that it will soon pass the Petroleum Revenue Management Bill 2012, South Sudan’s National Legislative Assembly is putting in place the key legislation to regulate the oil industry and revenue flows. This is much to be welcomed, advocacy group Global Witness said on 29 November as it unveiled a report on oil transparency in the new republic. The “legislation contains strong public reporting, revenue management and contract allocation requirements,” Global Witness campaigner Dana Wilkins said.

South Sudan
Subscriber

Interest in West African hydrocarbons has focused primarily on offshore plays in recent years.

DR Congo | Angola | Congo Brazzaville | Algeria
Subscriber

The publication of Algeria’s Energy Future brings data into the public domain that show how Sonatrach expects gas output to decline, adding to pressures to develop non-conventional reserves, as well as the underperforming non-hydrocarbons economy.

Libya
Free

A recent report by the Ministry of Finance indicates that the new Exploration and Production Bill has been submitted to the Attorney General for final comments and will be put to parliament in the near future. The law, whose drafting began in 2010, aims to provide a comprehensive legal framework for the oil and gas industry to replace the 1984 law, creating a new regulator and transforming Ghana National Petroleum Corporation (GNPC) into a commercial entity. The slow pace of drafting has been criticised because the new regulatory framework comes more than two years after Ghana started to produce oil.

Ghana
Issue 377 - 28 September 2018

Tullow’s Namibia well disappoints

Subscriber

Tullow Oil has announced that the Cormorant-1 well on PEL 37 in the Walvis Basin failed to find commercial hydrocarbons. The well was drilled to 3,855 metres and tested an Early Cretaceous age submarine fan structure, but the sandstones it encountered were water-bearing. Tullow said the well encountered wet gas signatures in the overlying shale section, indicating a working oil system in the area. The well will be plugged and abandoned, and the Ocean Rig Poseidon drillship will move to PEL 71 to drill a well on Prospect S for Chariot Oil & Gas.

Namibia