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US developer Symbion Power Tanzania Ltd on 13 March filed a request for arbitration at the International Chamber of Commerce (ICC) in Paris claiming breach of contract due to non-payment by Tanzania Electricity Supply Corporation (Tanesco) for power from the 126MW Ubungo plant (AE 331/1). Symbion says Tanesco has refused to pay for its power since the contract was agreed, claiming variously that the power purchase agreement (PPA) had been “put on hold”, never been signed or, later, that it had been rescinded.

Tanzania
Issue 329 - 01 September 2016

Ghana parliament approves Early Power deal

Subscriber

Parliamentary approval for a deal to install up to 400MW at Tema opens the way for a power purchase agreement to be signed by the Early Power Ltd consortium of Endeavor Energy, the local Sage Petroleum and GE. Local advocacy groups have raised concerns about pricing, but the Bridge Power project is the only new scheme currently working its way through the system, where other independent power projects have been stalled by World Bank and other donors’ concerns over financing.

Ghana
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The government is prioritising the reduction of its external debt and boosting Egypt’s profile as a location for foreign direct investment with its plans for the sale of the three large gas-fired power stations built by Siemens and its partners between 2015 and 2018. The deal will involve the new Tharaa sovereign wealth fund and is being contested by six international bidders.

Egypt
Issue 322 - 29 April 2016

Saudi finance for Cairo West

Subscriber

Egypt and Saudi Arabia signed several energy sector agreements during the recent visit to Cairo of King Salman Bin Abdelaziz. Most importantly, Egyptian minister of international cooperation Dr Sahar Nasr and Saudi Fund for Development chairman Dr Ibrahim Assaf signed a $100m financing agreement for the Cairo West power plant. This 650MW gas-fired steam turbine plant is being developed by the state-owned Egyptian Electricity Holding Company at an estimated cost of $700m.

Egypt
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The UK’s Serious Fraud Office (SFO) has begun investigations into Rolls-Royce’s operations in Nigeria, following accusations that the London Stock Exchange-listed engineering group filtered payments through intermediaries such as Unaoil to win deals in Indonesia, China, India and Brazil. As with previous investigations, the deals under scrutiny were transacted by Rolls-Royce’s previous management, headed by Sir John Rose. The Times newspaper reported on 20 May that the Nigerian deals involved Rolls-Royce’s alleged use of an intermediary company, PSL Engineering and Control, to influence the sale of gas turbines.

Nigeria
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Italy’s Eni seems gradually to be swallowing up BP’s African assets, with potential deals in Algeria and Angola building on a close relationship forged also in Egypt, Libya and Mozambique. These deals may be a sign of a deeper shake-out as European majors adapt to the demands of energy transition, writes James Gavin.

Mozambique | Egypt | Angola | Libya | Algeria
Issue 434 - 11 March 2021

Egypt: Licensing round details

Subscriber

As well as the three western Mediterranean blocks offered by Egyptian Natural Gas Holding Company (Egas), its part of the round includes six eastern Mediterranean blocks, including northern parts of the North West Satis, North West Atoll, West Zohr and West el-Arish offshore blocks, part of the Shorouk block relinquished by Eni after the Zohr development, and parts of Edison’s unsuccessful North Port Fouad and North Thekah Offshore blocks.

Egypt
Subscriber

Egypt’s latest licensing round includes three unexplored western Mediterranean blocks which represent the future for the country’s natural gas sector. Their fate is tied closely to Egypt’s wider domestic and regional energy strategy, which despite an energetic campaign of modernisation and renewal is still overshadowed by the mistakes of the first gas export drive in the late 1990s, writes John Hamilton.

Egypt
Subscriber

Namibia’s slow-burning oil and gas opening is finally picking up pace, as independents and majors prepare to drill. Is it possible that a country with no history of hydrocarbons production could become a significant player in southern Africa’s developing gas industry, asks James Gavin.

Namibia
Subscriber

With the government broadcasting the potential for local content opportunities, President Macky Sall is banking on the Grand Tortue Ahmeyim (GTA) field, shared with Mauritania, to drive growth following a grim period for the economy.

Senegal
Issue 342 - 16 March 2017

Zambia: State to offer open blocks

Subscriber

The government plans to advertise at least five oil exploration licences repossessed from companies that failed to meet work programme obligations, according to mines and minerals development permanent secretary Paul Chanda. Currently, Zambia has 12 active exploration licences from the 17 it initially issued to foreign and local firms scouting for oil and gas in Africa’s second biggest copper producer.

Zambia
Issue 340 - 16 February 2017

SDX plans for Circle assets

Subscriber

SDX Energy sees more acquisition opportunities in Egypt following its purchase of Circle Oil’s assets, as other companies look to reduce their exposure or pull out altogether. SDX, which listed on London’s AIM market in May 2016, plans to spud a well this month on Egypt’s South Disouq licence followed by further exploration drilling in Egypt and Morocco (AE 339/14).

Egypt | Morocco
Subscriber

AIM-listed Sound Energy has announced a better-than-expected gas flow from the TE-7 appraisal well on the Tendrara licence, and has raised a net £24.3m ($32m) through a share offer as it talks up the potential for a “huge gas deposit”. The share offer, at the market price rather than a discount, used the PrimaryBid.com online platform to enable private investors to participate on the same terms as institutions.

Morocco
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Foxtrot International has completed a four-year, $850m field development programme, significantly raising output from Block CI-27. Oslo-listed RAK Petroleum said two new gas fields, Marlin and Manta, have been brought on stream following the installation of a four-legged, manned platform and related processing and pipeline facilities and the drilling of one exploration and seven production wells. Gas production from CI-27 climbed to an average of 170mcf/d in August 2016, constituting more than three-quarters of Côte d’Ivoire’s total. Production of oil and condensates from the block averaged 3,000 b/d.

Côte d'Ivoire
Subscriber

Egypt-focused SDX Energy has signed non-binding heads of terms with Circle Oil to acquire the troubled company’s Egypt and Morocco assets. The agreement, announced on 11 January, has a 30-day exclusivity period. “Circle’s assets present an attractive opportunity to add material production and reserves at an attractive price,” SDX chief executive Paul Welch said in a statement. Circle has the producing Sebou permit and the Lalla Mimouna permit in Morocco, and the Al Amir and Geyad permits in Egypt’s Gulf of Suez, but has run into substantial financial difficulties due to payment arrears built up by Egyptian General Petroleum Corporation.

Egypt | Morocco