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Issue 311 - 06 November 2015

Lekoil: Fundraising

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Nigeria’s Lekoil has raised $46m with a placing of 125.2m shares at 24p/share. The proceeds will fund the acquisition of an indirect controlling stake in OPL 325, to the south of Lekoil’s OPL 310 in the Dahomey Basin. Chief executive Lekan Akinyanmi told the Africa Independents’ Forum in Cape Town that the Dahomey Basin was underexplored. The company also has the Otakikpo marginal field on OML 11, which delivered first oil on 5 September, and acreage in Namibia, where Lekoil is doing regional geological work.

Nigeria
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Woodside Energy has said the Sangomar field development remains on track for first oil in 2023, despite comments by President Macky Sall that coronavirus would delay Senegal’s oil and gas developments by up to two years. Woodside and its partners took a final investment decision for Sangomar phase 1 in January. “Since then, Woodside has taken early action to proactively manage the emerging impacts of Covid-19 on the supply chain and project schedule.

Senegal
Issue 365 - 15 March 2018

Gabon: Petronas discovery

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Malaysia’s Petronas on 5 March announced a new oil and gas discovery from its Boudji-1 ultra-deep-water exploration well in Block F14 (Likuale) offshore southern Gabon. The well, drilled in water depths of 2,800 metres, encountered 90 metres of gross high-quality hydrocarbon-bearing pre-salt sands, Petronas said. Petronas will now work with the Ministry of Petroleum and Hydrocarbons to assess the discovery and determine the commerciality of the resource volume.

Gabon
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Total plans to re-enter the Brulpadda well on Block 11B/12B off South Africa’s southern coast in December with Odfjell Drilling’s Deepsea Stavanger semi-submersible. Total vice-president Africa – exploration subsidiaries Hélène Dantoine told the Africa E&P Summit organised by Frontier Communications in London on 24 May the company had developed a special riser tension system for the well in order to resist the strong Agulhas current. Total was obliged to abandon the Brulpadda-1AX well on the block in September 2014 after the Eirik Raude rig encountered technical difficulties in the strong currents and challenging deep-water environment.

South Africa
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Malaysia’s Petroliam Nasional Berhad (Petronas) and US indie Noble Energy have signed an agreement with the state Société Nationale des Hydrocarbures (SNH) for the Tilapia block offshore in the Douala-Kribi Campo basin.

Cameroon
Free

African Petroleum Corporation has named Stuart Lake as chief executive, replacing Karl Thompson, who stepped down on 1 February. Lake was most recently vice president of exploration at Hess, and previously spent 19 years with Royal Dutch Shell. African Petroleum reorganised its board last year, removing Frank Timis from the role of non-executive chairman as part of preparations for moving the company’s listing to the main Australian Stock Exchange from the smaller National Stock Exchange. Timis has assumed the role of president of the executive committee, formed to implement board strategy and to exercise the executive powers of the company.

Issue 239 - 21 September 2012

Eve and Max reverse into Tangiers

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Former Woodside Energy vice president Eve Howell, who formed exploration company EMR Resources last year with Max de Vietri and Colombian geologist Ricardo Garzon, has been named as chief executive of Tangiers Petroleum, giving the new vehicle access to stock market listings in Australia and London.

Morocco
Issue 240 - 05 October 2012

Chad: Boost for Griffiths

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Canada’s Griffiths Energy International has signed an agreement with Glencore International to fund the development of the Mangara and Badila oil fields in exchange for a 25% share, while Simba Energy has taken acreage immediately to the south.

Chad
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Parliament has ratified petroleum agreements for the South Deepwater Tano and East Cape Three Points blocks. South Deepwater Tano has been awarded to a new Ghana National Petroleum Corporation (GNPC) subsidiary, GNPC Exploration and Production Company (Explorco), which will jointly operate the block with a 79% stake, while AGM Petroleum Ghana will hold the other 21% interest. AGM Ghana is a subsidiary of AGM Gibraltar, owned by Norway’s AGR Energy (49.5%), Minexco (48%) and local player MED Songhai Developers (2.5%).

Ghana
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State oil company GEPetrol has signed three production-sharing contracts with Gazprom Neft and Vanco Corisco Deep.

Equatorial Guinea
Issue 135 - 28 March 2008

Lundin drills in Sudd swamp

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Lundin Petroleum has spudded an exploration well in the swamp area of Block 5B.

Sudan
Issue 419 - 10 July 2020

Kenya: L6 to be relinquished

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Australian companies Pancontinental Oil & Gas and FAR Limited have agreed to settle their long-running dispute over Kenya Block L6 and relinquish the licence. Pancontinental said it would make a payment of $150,000 in settlement of outstanding cash calls. The partners will then start the process of withdrawing from the block. Pancontinental said it had received default notices totalling $567,145.80 this year. The company has disputed the amounts since 2015, arguing that no exploration was taking place on the block.

Kenya
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Azonto Petroleum’s successor company Calima Energy has been awarded Block 2813B in the Orange River Basin, immediately west of the Kudu gas field. Azonto changed its name last year and Ophir Energy founders Alan Stein and Jonathan Taylor joined the board. Stein is now managing director and Taylor is technical director. Azonto previously held acreage offshore Côte d’Ivoire and Ghana and was originally called Rialto Energy. During the first year of the initial four-year licence term, Calima will evaluate existing data in and around the block.

Namibia
Issue 369 - 18 May 2018

Ghana: Bid round plans

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Houston-based ION Geophysical Corporation on 2 May announced the start of acquisition of a new 2D multi-client seismic survey offshore Ghana in preparation for a licensing round planned for late 2018. ION and its partners Geoex and Ghana Geophysical will acquire up to 7,200km of data to help refine understanding of the hydrocarbon potential of the area. The government is moving from an open-door licensing system to its first competitive bid round following petroleum legislation passed in August 2016 which updated the 1984 law.

Ghana
Free

Another crisis is brewing as IOCs are told to comply with ever more exacting financial and operational conditions, writes John Hamilton in Tripoli

Libya