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Italy’s Eni has settled a corruption case relating to its activities in Republic of Congo, making a payment of €11.8m ($14m). Eni said in a statement that allegations of international corruption “ceased to exist” and that the payment had followed the reduction of the charge by the Court of Milan to undue inducement.

DR Congo
Subscriber

President Fradiqué de Menezes sacked Natural Resources and Energy Minister Agostinho Rita following corruption allegations, replacing him with a businessman also drawn from his Movement of Democratic Forces for Change (MDFM) party, Carlos Fernandes Marques.

São Tomé & Príncipe
Issue 314 - 17 December 2015

Kenya: Simba farms down Block 2A

Subscriber

Indian-owned Essel Group Middle East has reached a definitive farmout agreement with Simba Energy to take 60% in Block 2A. Essel has agreed to fund 100% of exploration expenses for the drilling of two wells on the block. The agreement has already been approved by the Kenyan government. Simba and Essel now intend to finalise a seismic contract to start work early in 2016, to acquire some 500 line km of 2D data. Essel has agreed to invest $100m, and a first well is planned for 2016. Essel’s Gagan Goel will join the Simba board as vice-chairman.

Kenya
Issue 131 - 25 January 2008

White Nile’s Southern Rift PSA

Subscriber

Philippe Edmonds’ White Nile Ltd has signed a production-sharing agreement for a 29,000km2 block in the Southern Rift Basin. The PSA follows a two-year joint study agreement for the acreage (AE 117/10).

Uganda | Ethiopia
Issue 159 - 20 March 2009

Addax scores drillship for JDZ

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Operator Addax Petroleum Corporation has signed an agreement with Transocean for the use of the Deepwater Pathfinder drillship to drill the Kina prospect on Block 4 in the Joint Development Zone.

São Tomé & Príncipe | Nigeria
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International oil companies including South Africa’s Sasol Petroleum International are bidding for licences to exploit seven oil and gas fields across Mozambique, the Instituto Nacional de Petroleo (INP) has said.

Mozambique
Issue 135 - 28 March 2008

CityView claims success

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Australian newcomer CityView Corporation says it has been offered participation in four existing Angolan offshore oil permits.

Angola
Issue 189 - 26 June 2010

Africa Oil acquires South Omo Block

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Toronto Stock Exchange-listed Africa Oil Corporation has signed a farm-out agreement with Agriterra (formerly White Nile) to acquire an 80% participating interest and operatorship of the South Omo Block in south-west Ethiopia.

Ethiopia
Subscriber

Anadarko Petroleum plans an exploration programme on the Rovuma Onshore Block, with two firm wells and one conditional well. The Tembo-1 well is due to spud imminently, to be followed by Kifaru-1. Wentworth Resources managing director Geoff Bury told Global Pacific & Partners’ Africa Independents’ Forum the rig had arrived on location in May. He said the Tembo prospect was thought to be oil-prone “but we won’t be disappointed if it’s gas. Quite frankly we’re little guys, we’re looking for a discovery.”

Mozambique
Subscriber

African oil explorers are rapidly revising budgets to take account of the latest market developments. Global oil demand is forecast to fall by 6m b/d in April as countries shut down in an attempt to control the spread of the Covid-19 pandemic. At the same time, the collapse of Opec production cuts means countries led by Saudi Arabia are increasing output to try to preserve market share. West Africa-focused Kosmos Energy said on 17 March it would reduce its planned 2020 capital expenditure by about a third, suspending the dividend and working with BP to defer Phase 1 spending on the Greater Tortue LNG project offshore Mauritania and Senegal.

Subscriber

Efforts to reform the energy industry will include looking again at what can be done to transform the country’s notoriously inefficient refining sector

Nigeria
Issue 240 - 05 October 2012

Angola: SOCO to sell Cabinda stake

Free

SOCO International has agreed to sell its stake in the Cabinda North Block to its joint venture partner. SOCO will sell its 80% majority interest in SOCO Cabinda Limited to Quill Trading Corporation.

Angola
Subscriber

The Organisation of the Petroleum Exporting Countries (Opec) has approved Republic of Congo’s membership application. An Opec statement said its meeting in Vienna on 22 June had considered Congo’s request “and decided to approve its admission with immediate effect”.

Congo Brazzaville
Subscriber

Norway’s DNO International has joined a spate of new arrivals in Tunisia, signing an agreement for the Fkirine exploration licence in the centre of the country. The company will fund the exploration phase

Tunisia
Issue 145 - 06 September 2008

NOC stipulates new local manager position

Subscriber

National Oil Corporation’s management committee has ordered international oil companies to employ an additional Libyan citizen in their senior management.

Libya