Search results

Austria’s OMV said on 16 June it had made a new gas discovery during drilling of the Ritma-1 exploration well in the Nawara production concession in southern Tunisia

Sonatrach has announced several new oil and gas discoveries in Algeria during recent weeks, bringing the number of new discoveries this year to 13, six of which have been made with Sonatrach’s international partners.

BG Group has announced a third offshore gas discovery with the Chaza-1 well, in Block 1, 200km south of the earlier Pweza and Chewa discoveries (AE 203/12). The well was drilled in some 950 metres of water, 18km offshore southern Tanzania.

Royal Dutch Shell has sold its entire stake in Woodside Energy as part of its three-year $30bn disbursement programme. Shell said a total of 111.8m shares would be sold on 13 November, representing 13.28% of the issued share capital of Woodside and the entirety of Shell Energy Holdings Australia Limited’s total shareholding in the company, for total pre-tax proceeds of $2.7bn. Shell had been planning to sell only a portion of the stake but, following strong demand from institutional investors, decided to sell it all.

The International Finance Corporation (IFC) announced on 21 February that a second mandate for its Scaling Solar programme has been signed with the government. Zambia’s Industrial Development Corporation has already issued a request for expressions of interest (EoIs) for 150MW-250MW projects, with a deadline of 24 March. Submission of an EoI is not compulsory for participation. Prequalification is expected in late March. Between 250MW and 350MW will be procured under a subsequent procurement round, with the IFC’s mandate covering up to 500MW.

Solar developer SkyPower has announced the signing of a landmark agreement with Djibouti for the development of 200MW of solar projects to be built in four phases over the next four years. SkyPower said the project would represent an estimated investment of $440m, including corporate social responsibility investments of $11m towards education, training, research and development in Djibouti. “SkyPower’s commitment will reduce Djibouti’s dependence on energy imports and significantly increase local power generation capacity,” said executive vice-president Charles Cohen.

The European Investment Bank and African Development Bank have approved financing totalling E45m ($56m) for the Cabeólica wind power project being developed on a public-private partnership basis by InfraCo, Electra and the Cape Verde government.

As part of the Projet d’Appui au Développement Site d’Inga et de l’Accès à l’Electricité, which is financed by the African Development Bank and forms part of the Inga III project, documents for several consultancy tenders are expected to be released next month, with requests for proposals expected in September at the earliest. Services are being sought from international financial advisers and monitoring and evaluation specialists to oversee the administrative and financial management of the project. Contact: Bernard Diayele, Coordonnateur du project. Tel: +243 84 4687751. Email: [email protected]. Julien Sango Motha, Expert aux acquisitions. Tel: +243 81 5846386. Email: [email protected].

Renewable energy developer Compagnie de Développement des Energies Renouvelables (Coder) is seeking bids for the supply of generation equipment for the Chutes de l’Imperatrice and Chutes de Fe2 hydroelectric power projects

A final investment decision (FID) on development of the Kudu gas project is expected late this year or in Q1 2018, with the start of commercial operations targeted for end-2021. Namcor managing director Immanuel Mulunga told Africa Upstream the partners were expecting financial close in mid-2018. He told reporters Namcor planned to farm down some of its 44% stake in the upstream element of the project and was considering various debt and equity options.

Tullow Oil caused market ripples on 18 January when an update said output from the Jubilee field would average a lower-than-expected 70,000-90,000 b/d in 2012

Two recent long-term bond issues to support the Kenyan power sector have demonstrated the potential capital markets support for sub-Saharan borrowers. Bankers who spoke to Kevin Godier saw an opportunity for a spate of new issues to follow as a new market matures, stimulated by global demand

Despite pressure on donors from renewed opposition to big dam projects, the World Bank board on 20 March approved a $73.1m technical assistance grant for the Inga III Basse Chute project. The bank said the grant for the Inga III Basse Chute and Mid-Size Hydropower Development Technical Assistance Project would finance a series of environmental, institutional, social and technical studies to guide sustainable development of Inga III and selected mid-size hydropower projects. The bank said the project would create national institutions such as the Inga development agency to pilot site development and award concessions on a competitive basis.

Two refinery projects are going ahead in Egypt – the first led by local private equity group Citadel Capital, and the second by Sokhna Refining & Petrochemical Company (SRPC), which is said to be building a $2.2bn refinery in Ain Al-Sokhna. Egypt’s planned new refinery projects have suffered from the global financial crisis, which has made raising funds difficult and driven up costs.

Trading in Madagascar Oil shares resumed on 27 June after the company said its dispute with the government over the Tsimiroro Block (Block 3104) had been resolved