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London AIM-quoted Eco Atlantic said on 20 December it had won regulatory approval from the Department of Mineral Resources and Energy and Petroleum Agency of South Africa for its wholly-owned subsidiary Azinam to acquire another 6.25% in offshore Block 3B/4B from the Lunn Family Trust.

Despite a period of intense activity in markets such as Namibia and Nigeria, merger and acquisition deals around the continent are taking longer to get over the line, reflecting the more complex structures being adopted and the need to tap less familiar sources of funding, writes James Gavin.

Norway’s BW Offshore has formalised an agreement to take a 56% stake in the Kudu licence and develop the project to a final investment decision (FID) expected in Q4 2017. Past operators, including Tullow Oil and Royal Dutch Shell, have failed to develop the gas field, but BW says falling development and contractor costs now make the project more feasible. However, questions remain over the size of the reserves, and the development’s ability to compete with low-cost US shale gas imports.

There has been renewed turbulence in South Sudan’s oil and gas sector, with the government stepping in to block a deal for London AIM-listed Savannah Energy to buy upstream assets from Malaysian national oil company Petronas for $1.25bn. It comes as South Sudan tries to resume pipeline exports of Dar Blend crude oil, which have been offline for more than six months.

Australia’s Roc Oil has agreed to sell its 75% interest in the Juan de Nova Maritime Profond Block in the Mozambique Channel to Nigeria’s South Atlantic Petroleum.

Following a hydrocarbon exploration and production agreement signed by the Somali Petroleum Authority and the Turkish Petroleum Corporation in July, a seismic research ship has now been sent from Istanbul to explore three offshore blocks in the Horn of Africa, protected by two Turkish frigates. Ankara has also signed a memorandum of understanding with São Tomé and Príncipe which could lead to similar activity there.

The Nigerian government needs an urgent boost after essential macroeconomic reform measures sparked huge public opposition. By placing President Bola Tinubu at the centre of plans to revive long stalled projects, Abuja can point to the potential for a better economic performance ahead – at least in the longer term – while opponents test the administration’s resilience with the threat of more short-term disorder.

State-owned Nigerian National Petroleum Company (NNPC) has signed a project development agreement (PDA) with Norway’s Golar LNG for a floating liquefied natural gas (FLNG) project offshore the Niger Delta. NNPC said the development would “monetise vast proven gas reserves from shallow water resources”.

TotalEnergies and state partner Nigerian National Petroleum Company (NNPC) have taken a final investment decision (FID) to develop the Ubeta gas field in the onshore OML 58 licence area.

Commissioning of a fourth unit at the 2.1GW Julius Nyerere hydroelectric power plant has prompted the Tanzanian government to move away from gas-to-power capacity. The immediate consequence is that a power purchase agreement for Songas, the country’s first IPP, will not be renewed. Meanwhile, two foreign investors have launched arbitral claims of $500m and $1.2bn against the government, and progress remains static at the much-vaunted Tanzania LNG megaproject, writes Marc Howard.

‘Accelerated commissioning’ has allowed Golar LNG to announce a definitive 2025 commissioning date at the BP/Kosmos’ Greater Tortue Ahmeyim gas project. But the floating liquefied natural gas (FLNG) developer has cautioned that it expects more delays at its Nigeria project.

Having excited markets only days before by presenting a prospective merger with Tullow, Kosmos Energy has announced that it doesn’t intend to make an offer. Tullow confirmed the deal was off and announced a separate arbitral decision was imminent in its appeal against a big Ghanaian tax demand.

While many headlines have focused on Eni’s energy transition moves, the Italian major is also shoring up its upstream positions around the continent.