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Kosmos Energy has appointed Andrew Inglis as board chairman and chief executive with effect from 1 March, enabling current chief executive Brian Maxted to focus on his exploration role. Maxted, a founding partner of Kosmos, will serve as chief exploration officer and remain on the board, while current board chairman John Kemp will retire. Inglis joined Petrofac in January 2011 after 30 years with BP, most recently as chief executive of its exploration and production business.

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President Macky Sall looked at his confident best on 12 June as he hosted a day of dialogue over the future shape of the oil and gas industry and the expected revenue boost to the Senegalese economy. The event sought to bring together politicians, business and civil society, but significant elements of the opposition boycotted the event in Dakar’s new conference centre. Sall’s opponents demand that the government should publish all the natural resources contracts it has signed to date.

Senegal
Issue 285 - 30 September 2014

Egypt: New block for Edison, Petroceltic

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A joint venture of Edison International and Petroceltic International has been awarded the North Port Fouad Block, in the Egyptian Natural Gas Holding Company 2013 International Bid Round. North Port Fouad (Block 7), is located offshore the Nile Delta and lies to the north of, and immediately adjacent to, the North Thekah Block, which was awarded to a Petroceltic/ Edison joint venture in 2013.

Egypt
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London-based Helios Investment Partners has raised more than $1bn for its third Africa-focused fund, making it the largest fund dedicated to African private equity. More than 60% of the capital comes from existing investors, and Helios said the investor base included sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices and development finance institutions across the US, Europe, Asia and Africa. Helios held the previous record for the biggest private equity fund in Africa, having raised $908m in 2011.

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Mediterranean-focused Energean Oil & Gas has agreed to acquire Italy’s Edison E&P for an initial $750m. Following an initial public offering in March 2018, Energean’s strategy has been to become the leading independent, gas-focused exploration and production company in the Mediterranean, driven by development of the 2.4tcf Karish and Tanin gas fields offshore Israel. In Africa, the deal will give Energean producing assets in Algeria and a new development area in Egypt.

Egypt
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Petroleum Minister Diezani Alison-Madueke announced on 19 September the creation of a N213bn ($1.3bn) lifeline intended to kick-start the reform process nearly a year after generation and distribution companies were handed over to private investors. This should pave the way for the declaration of the Transitional Electricity Market (TEM), at which point contracts signed between the generation companies, distribution companies and the offtaker Nigerian Bulk Electricity Trading Company (NBET) become active. Akindelano Legal Practitioners partner John Delano told African Energy: “the TEM is expected to be declared on 1 November tentatively. It has been delayed a couple of times but it appears there is now resolve within Nerc [Nigerian Electricity Regulatory Commission], the federal government and the bulk trader to make the PPAs [power purchase agreements] active”.

Nigeria
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Wentworth Resources has opted to relinquish the onshore Tembo Block in the Rovuma Basin where it had been seeking a partner to appraise the 2014 Tembo-1 gas discovery. The company said in October that a re-evaluation of the Tembo discovery had indicated that it was unlikely to be commercial. Insecurity in the region forced the company to suspend activities earlier this year and in June the National Petroleum Institute granted a one-year extension to its appraisal licence.

Mozambique
Issue 353 - 15 September 2017

New power barge for Ghana

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A second, bigger power barge has arrived in Tema port, ready to start supplying the grid. Karpowership Ghana Company Limited said the arrival of the 470MW Karadeniz Powership Osman Khan follows its 2015 power purchase agreement with the Electricity Company of Ghana (ECG). Karpowership is expected to provide a total of 450MW to the grid for ten years.

Ghana
Issue 364 - 01 March 2018

Woodside: Fundraising

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Woodside Energy has raised A$1.57bn ($1.24bn) through an Institutional Entitlement Offer of new shares. The company will use the cash to fund the acquisition of ExxonMobil’s stake in the Scarborough gas field offshore Western Australia, and for its other operations, including the SNE Phase 1 development in Senegal. The offer is the first stage of a planned equity raising announced on 14 February to raise A$2.5bn. A retail component closing on 7 March is planned to raise another A$960m.

Senegal
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Société Tunisienne de l’Electricité et du Gaz (Steg) has commissioned a new gas-fired combined-cycle power station at Radès to complement the three existing plants at the site. Yokohama-based Mitsubishi Hitachi Power Systems (MHPS) and Tokyo-based Sumitomo Corporation will build the plant – probably to be known as Radès C – which will be financed with a Japanese government loan.MHPS and Sumitomo signed an engineering, procurement and construction contract with Steg to build the 450MW plant on 20 June.

Tunisia
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Mineral resources and energy minister Leticia da Silva Klemens and Royal Dutch Shell executive vice-president, integrated gas ventures development Clare Harris have signed a memorandum of understanding (MoU) in Maputo on the allocation of gas from the Rovuma Basin for domestic use. Eni, Anadarko and their partners in the Rovuma Basin licences have agreed to make available a quantity of gas for the development of industrial projects in the Mozambique domestic market, and the MoU follows the results of a public tender for domestic gas development projects announced on 27 January.

Mozambique
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Sonatrach and Total on 10 April signed a comprehensive agreement strengthening their existing partnership in Algeria. Total said the agreement enables the two companies to expand their partnership by progressing new upstream projects, notably with a new contractual framework for the Timimoun gas project, continued joint operations for the Tin Fouye Tabancourt (TFT) gas field under a new agreement, and joint development of a new project, as well as what a Total statement described as “the amicable settlement of outstanding differences between the two companies”.

Algeria
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The US Trade and Development Agency on 10 February approved a $1.1m grant to the Nigerian National Petroleum Corporation Gas and Power Investment Company to support development of a 1,350MW combined-cycle gas power plant in Abuja. The grant will fund technical, economic and financial studies for the plant which will be carried out by the US’ Continuum Associates and GE International Operations (Nigeria). The grant agreement was signed at the Nigeria International Petroleum Summit in Abuja.

Nigeria
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China’s Poly-GCL, which is developing the Calub and Hilala gas fields in the Ogaden Basin, has found more gas reserves as well as some oil during appraisal drilling. “In the appraisal wells the company drilled around Calub it has discovered additional gas reserve. If you remember we were talking about 4.7tcf of gas reserve. Now the recoverable gas amount reached 6-8tcf. The amount has increased significantly,” Ministry of Mines, Petroleum and Natural Gas state minister Koang Tutlam told The Reporter newspaper.

Ethiopia
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Dana Gas on 20 May began drilling the Merak-1 exploration well targeting up to 4tcf of gas in the Eastern Mediterranean Basin. The well is being drilled by Advantage Drilling Services’ Tungsten Explorer drillship in 755 metres of water in the North El Arish concession (Block 6). Chief executive Patrick Allman-Ward told the Africa E&P Summit in London on 23 May the company had identified at least three multi-tcf prospects in the deep-water part of the block, which borders Israeli waters.

Egypt