Search results

A fresh wave of drilling activity underscores expectations of another strong year for the Namibian upstream, even as state oil company Namcor posts a loss.

Major Mauritania-Senegal Basin plays GTA and Sangomar are now advancing after ship-related issues delayed both projects for around a year. However, despite optimism for West African LNG developments, much-anticipated results from Shell’s wildcat well in Mauritania’s Block C10 have disappointed.

The Federal Government of Nigeria (FGN) has unconditionally withdrawn civil claims totalling $1.1bn against Italian major Eni that had been lodged in Italian courts, ending a long-running legal dispute centred on corruption allegations. In a statement to African Energy, Eni said it had received a letter confirming the withdrawal and said it was “the final step towards the truth”.

Local and international oil companies showed promising levels of interest in the unglamorous onshore basins on offer in Angola’s latest licensing round, but challenges remain from declining oil production and a fractious relationship with Opec, writes James Gavin.

Africa Oil Corporation has called interest in an offshore farm-out deal ‘staggering’ and Marathon Oil is looking to take advantage of LNG arbitrage opportunities but, while IOCs talk up opportunities, oil production is on a downward trajectory and the political environment remains opaque, writes James Gavin.

Privately-owned indie Perenco has long been a significant upstream player in west and central Africa and it is now extending its position with new discoveries and plans to increase production in Chad, Republic of Congo and elsewhere, as its general manager Benoît de la Fouchardiere tells African Energy.

Houston-based Murphy Oil has said it will sell some non-core assets in North America to fund work on the Paon discovery in Block CI-103, one of five Côte d’Ivoire offshore blocks it picked up in June 2023.

Afentra has secured official approval for the acquisition of stakes in two offshore blocks from the state-owned oil company Sonangol. The UK independent said it was now working with Sonangol to finalise the formal completion of the deal.

Tullow has agreed a $400m, five-year debt facility with commodities trader Glencore Energy, giving the UK indie a financial boost. The two sides have also agreed two oil marketing and offtake contracts, which will run concurrently with the debt agreement.

First discovered in 1974, the offshore Kudu gas field could provide substantial gas-to-power capacity for Namibia’s domestic market and for export to South Africa. Officials say it will proceed independently of recent massive Orange Basin discoveries further south, but industry observers are sceptical of the electricity export plans, citing the lack of transmission infrastructure with South Africa, write Our Namibia Correspondent and Marc Howard.

Following the recent dismissal of Sonatrach chief executive Toufik Hakkar, a further eight vice-presidents have now been dismissed from the national oil company, pointing to wider tensions within the Algiers establishment, writes Our Algiers Corresondent.

Kosmos Energy has taken an operated stake in the 25tcf offshore Yakaar-Teranga gas field, following BP’s exit, and says it intends to export up to 3m t/yr of LNG. Longstanding plans to supply local offtakers through a new pipeline are also set to continue. Meanwhile the cross-border Senegal-Mauritania LNG development continues, but progress could be held up as the Greater Tortue Ahmeyim (GTA) project’s FPSO awaits repairs off Durban, writes Marc Howard.

UK-headquartered independents are leading the way in developing Morocco’s onshore and offshore gas resources, as the government seeks to boost domestic supplies and reduce its reliance on expensive imports via Spain. Among recent activity, Chariot has secured environmental approval for its 1.5tcf offshore Anchois development, writes James Gavin.

With oil field developments proceeding at pace, the Kampala government has signalled its intention to play a more robust role in economic management, with plans to renationalise the electricity distribution network and take an expensive majority stake in the Kabalega refinery development. Meanwhile financing for the Eacop pipeline is expected to close soon, with Chinese lenders stepping in where western financiers have refused to go, writes Marc Howard, recently in Kampala and Hoima.

Ara Petroleum Tanzania (APT) has confirmed the completion of its acquisition of an additional 25% interest in the Ruvuma production-sharing agreement (PSA) from London AIM-listed Scirocco Energy.