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CAMEROON: VOG promises Logbaba December delivery; EGYPT: New find for Dana Gas; GUINEA: Hyperdynamics starts 3D survey; MOZAMBIQUE: ENH backs into Sofala, M-10 blocks; MOZAMBIQUE: OGEC Cracow wins drilling contract; NAMIBIA: Universal Power wins licence extension; TUNISIA: Jenein Centre find; APACHE: Big fundraising, Egypt finds; KBR: South African BEE deal

Cameroon | Mozambique | Egypt | Namibia | Guinea | South Africa | Tunisia
Issue 245 - 13 December 2012

Morocco: Tangiers farm-out agreement

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Portugal’s Galp Energia has agreed to farm into Tangiers Petroleum’s Tarfaya Offshore area, taking a 50% stake and assuming operatorship. Tangiers will retain a 25% interest, and the Office National des Hydrocarbures et des Mines (Onhym), the Moroccan state company, will maintain its 25% interest.

Morocco
Free

Chariot Oil & Gas has received government approval to enter the second renewal phase of two offshore blocks: Licence 14 (covering its northern blocks 1811 A&B) and Licence 15 (encompassing southern Block 2714B).

South Africa
Free

Under immense pressure from the global spread of Covid-19 and plunging oil demand, governments and IOCs must once again fine-tune their strategies to meet hostile market conditions. This may mean not only delaying upstream projects but cancelling them altogether as, in the longer term, global markets shift out of carbon dependency.In the short term, efforts to revive the so-called Opec+ cooperation between Opec and non-Opec crude exporters should help to reverse the price slump, but the deal seems unlikely to raise prices to levels envisaged in producer governments’ 2020 budget forecasts.

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Sasol on 26 May began drilling a first well under its field development plan (FDP) for the Production-Sharing Agreement (PSA) licence in Inhambane province, adjacent to its current producing Petroleum Production Agreement licence.The PSA development is an integrated oil, liquefied petroleum gas (LPG) and gas project, and the drilling campaign is part of the first phase of the FDP for the delineation and initial development of the Temane G8, Temane East, Inhassoro G6 and Inhassoro G10 reservoirs.

Mozambique
Issue 307 - 11 September 2015

Liberia: New Nocal head

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President Ellen Johnson Sirleaf has ordered the retirement of National Oil Company of Liberia (Nocal) president and chief executive Randolph McClain and three senior managers amid a deepening financial crisis at the company. The board has named chief operating officer Althea Sherman as head of an interim transitional management team to implement a restructuring. Other members of the team are vice president of technical services Rufus Tarnue, and vice president of finance Karmo Ville.

Liberia
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Nigeria has begun the renewal of oil licences while promising major investment in joint ventures to boost production and faltering levels of exploration. But industry reform seems no closer, writes David Slater in Lagos

Nigeria
Issue 213 - 16 July 2011

Cobalt to drill on Block 21

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Houston-based Cobalt International Energy is preparing to drill two exploration wells on Block 21. Cobalt said the Ocean Confidence drilling rig would return from an assignment to

South Africa
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On 2 March, Total announced its purchase of Marathon Oil Libya and with it a 16.33% stake in the Waha concession for $450m. The concession’s total output of 300,000 b/d has not significantly increased since the original US partners, including Hess and ConocoPhillips, who developed the fields under the name of Oasis Oil the 1950s, were allowed back into the assets in 2005 following the end of US sanctions against the regime of the late Colonel Muammar Qadhafi.

Libya
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Canada’s United Hydrocarbon International Corporation (UHIC) says exploration drilling in H1 has revealed bigger-than-expected reserves in its Doba Basin Block and it is about to seek funding or a farm-in partner. Vice-president capital markets Frederick Kozak told Global Pacific & Partners’ Africa Independents’ Forum in London on 3 June that the company would make an announcement “in the next couple of weeks” on the hiring of an investment bank to oversee the process. UHIC began its drilling programme on 3 January, and has so far drilled a successful development well at Belanga-1A and exploration well at Belanga North-1, as well as a dry hole with the Toura-1 exploration well.

Chad
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A conservative choice to lead the national oil company may send a defiant message to minister Khelil’s critics

Algeria
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Huge excitement and great public debate has accompanied the Jubilee field discovery. But 120,000 b/d isn’t going to transform the lives of 23m people, and with elections looming, the government is already looking to other players to replicate Tullow Oil’s success.

Ghana
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Australia’s Beach Petroleum has said the BP-operated North Shadwan Block is on target to start production in H1 2010.

Egypt
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Eni chief executive Claudio Descalzi met Presidency Council head Fayez Al-Sarraj and National Oil Corporation chairman Mustafa Sanalla in Tripoli on 30 November. The Italian IOC has a track record of providing industry support to its national partners at strategic junctures, a policy that emphasises the depth of its commitment to its markets. Eni said Descalzi discussed business continuity and support for energy access, including Eni’s commitment to developing gas projects.

Libya
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Cairn Energy and its local partner Cheiron Holdings have acquired a potential counter-cyclical bargain with their $646m acquisition of Shell’s Western Desert assets. The eight production concessions are operated via the Bapetco joint venture with Egypt General Petroleum Corporation (EGPC). There are also five exploration blocks, which will be operated by Cairn itself. Shell is understood to have wanted $1bn for the concessions when it first put them on the market in October 2019, although they were valued by consultancy Wood Mackenzie at $775m.

Egypt