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Issue 454 - 11 February 2022

Senegal emerges as African gas powerhouse

Subscriber

Senegal is an emerging African gas powerhouse, where large deep-water finds during the last decade have captured international attention, led by the 15tcf BP-operated Greater Tortue Ahmeyim block, shared with Mauritania, which due is to start production in Q4 2023.

Senegal
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TotalEnergies’ discovery of light oil with associated gas on the deep-water Venus prospect in the Orange Basin raises the prospect once again that Namibia’s geology contains resources that could underpin gas-to-power (GTP) plays and provide significant new revenue from crude sales.

Namibia
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Seplat Energy was forced on 7 March to scotch rumours that its ambitious $1.6bn acquisition of ExxonMobil’s shallow-water assets in Nigeria had been terminated. This came after local media reported that Nigerian National Petroleum Corporation (NNPC) had exercised a right of pre-emption under the NNPC/Mobil Producing Nigeria Unlimited (MPNU) joint operating agreement (JoA).

Nigeria
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Italian major Eni has declined to comment on speculation that the Milma-1 exploration well in the Lamu Basin has not yielded any hydrocarbons. If the ultra-deep-water wildcat well had been successful, it would have opened up a new East African basin for crude production.

Kenya
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International oil companies in South Sudan will come under increased pressure to hire more locals in the years ahead, according to comments from South Sudan Ministry of Petroleum undersecretary Awow Daniel Chuang.

South Sudan
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A dispute over loans given to Aiteo Eastern E&P to pay for its acquisition of Nigerian oil assets from Shell in 2015 is heading for arbitration after a London court ruling. One lender warned that a default could have serious consequences for the Nigerian banking system.

Nigeria
Free

Maersk Supply Service has signed a long-term contract with ExxonMobil in Angola to provide project management, engineering and marine services for the development of drilling and production in offshore Block 15.

Angola
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Nigeria and Angola are responsible for the vast majority of the Organisation of the Petroleum Exporting Countries (Opec) supply shortfall that is helping to sustain high global oil prices. Above-ground issues including theft and sabotage continue to contribute to a large deficit from the two sub-Saharan oil giants.

Angola | Nigeria | Libya | Equatorial Guinea | Congo Brazzaville | Gabon | Algeria
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Canada’s Reconnaissance Energy Africa (ReconAfrica) has announced that its frontier onshore Kavango Basin acreage could hold more than 1.4 tcf of gas and almost 1bn barrels of oil, according to a review by independent analysts.

Namibia
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Gambia has extended the bid submission deadline for exploration block A1, formerly held by BP, by a further three months.

Gambia
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The DR Congo government has confirmed a deal with consultants to evaluate the potential of onshore and offshore sedimentary basins – including the prospective Albertine Graben, Lake Kivu Graben and Tanganyika Graben areas – as it looks to attract international oil companies (IOCs) ahead of a licensing round due to be launched in late July.

DR Congo
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An initial agreement for the $30bn Lindi liquified natural gas project, comprising a major deep offshore development and construction of a large LNG plant, was signed on 11 June. This is not the much-anticipated host government agreement, which project sources told African Energy is expected by year-end

Tanzania
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London AIM-listed Chariot has signed a front-end engineering and design (FEED) contract with Schlumberger and Subsea 7 for the Anchois gas project in the offshore Lixus licence area.

Morocco
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London AIM-listed Tower Resources is looking to move forward with drilling at its Njonji oil discovery in Cameroon’s Rio Del Rey Basin, having sealed a funding package worth more than $7m in late June.

Cameroon
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A case in the Federal High Court of Nigeria over the Barracuda oil field in Niger Delta Block OML141 has again been adjourned, this time until 16 November.

Nigeria