News
September 04, 2024
Despite Uganda’s dedication to leveraging its resources to ensure reliable oil and gas supplies to meet local demand, a lack of investment in production and infrastructure development as a result of interference from developed nations has resulted in a stagnant market for the country.
News
September 03, 2024
The two-month survey will be conducted early 2025, utilizing capacity from Shearwater’s high-end fleet, supported by the company’s state-of-the-art technology offering and extensive operational experience.
News
August 28, 2024
Block 3B/4B covers an area of 17,581 km2 within the prolific Orange basin offshore South Africa in water depths ranging between 300 m and 2,500 m. The block is near a number of highly anticipated oil discoveries, including the Venus discovery.
News
August 27, 2024
Crude production grew to 1.41 MMbpd in the second quarter, compared with 1.22 MMbpd a year earlier. Daily oil production in Nigeria is expected to rise to about 2 MMbpd by the end of this year, Oritsemeyiwa Eyesan, executive vice president of the Nigerian National Petroleum Corp.’s upstream division, said last week.
News
August 26, 2024
Earlier this month, state-run Nile Petroleum Corp. assumed control of PETRONAS’ oil fields and assets – effectively repossessing the Malaysian company’s investment – and announced it would seek a new partner to ensure operations continue.
News
August 26, 2024
Nigerian regulators said they expect to formally consent to ExxonMobil’s sale of its oil and gas assets to Seplat Energy Plc within four months, ending a hiatus that has stalled the conclusion of a transaction that was first announced in February 2022.
News
August 23, 2024
Senegal’s government set up a commission to examine natural-resource contracts awarded to foreign investors and establish whether they comply with the West African nation’s laws, Prime Minister Ousmane Sonko said.
News
August 22, 2024
The changes come almost two weeks after the Malaysian conglomerate announced it would leave South Sudan after 14 years. UK-based oil and gas company Savannah Energy Plc has been in talks to purchase that business.
News
Turkey to begin oil and gas exploration campaign offshore Somalia in broader African energy strategy
August 16, 2024
Turkey, seeking to extend its influence in Africa and strengthen energy security, will send the 86 m long research vessel Oruc Reis to explore offshore oil and gas blocks belonging to Somalia next month.
News
August 13, 2024
In 2019, BEAC took several measures to restrict the flow of foreign currency. The intention was to tackle the problems of low foreign exchange reserves, capital flight, money laundering, and terrorism funding. However, these regulations have only served to kill business in the region — particularly for the energy industry.
News
August 12, 2024
Area 2 lies within the emerging South Africa and Namibia (SANAM) super-basin, which stretches from northernmost Namibia to the Durban basin of eastern South Africa. The Block shares the same prolific petroleum play as is currently being successfully explored in the Orange basin of Namibia, and further proven by the Brulpadda and Luiperd discoveries in South Africa’s Outeniqua basin.
News
August 11, 2024
The extension from October provides firm revenue backlog of approximately $24.3-34.2 million, with the option to extend for an additional well, potentially adding a further approximately $26.9-36.9 million.
News
August 08, 2024
Through its operations in Cameroon and the Republic of Congo – as well as activities in the Democratic Republic of the Congo, Chad, Gabon and Tunisia – Perenco represents a key player in the continent’s upstream industry.
News
August 07, 2024
According to the joint operating agreement, which was approved by the government of Equatorial Guinea in March 2024, the PSC provides for a development and production period of 25 years from the date of approval.
News
August 06, 2024
The discussions highlight how cash and revenue-strapped African nations are turning to traders for funding to boost producing assets and energy supplies. Gunvor Group recently financed Gabon’s deal to buy crude producer Assala Energy for about $800 million, while Vitol is becoming the sole supplier of oil products to Uganda.
News
August 05, 2024
Countries like Angola, Mozambique, Uganda and Tanzania are opening up new exploration frontiers, presenting attractive farm-in opportunities for independents like ReconAfrica. The oil reserves in Uganda’s portion of the Lake Albert basin, particularly in the Albertine Graben, are estimated at around 6.5 Bbbl, indicating promising prospects within the onshore region.
News
August 01, 2024
Over 12 competitors, including Exxon and Shell, have shown interest in acquiring a 40% stake in Galp Energia's massive offshore oil and gas field. A spokesperson from the company emphasized Petrobras' expertise in deepwater operations and expressed confidence in their bid.
News
July 29, 2024
TotalEnergies has announced its withdrawal from offshore Blocks 11B/12B and 5/6/7 off the southern coast of South Africa. This decision follows the exit of partner CNRI from Block 11B/12B, where TotalEnergies EP South Africa holds a 45% interest.
News
July 26, 2024
TotalEnergies sold its stake in 18 Nigerian onshore oil licenses to Chappal Energies. This reflects a trend of junior explorers and African national oil companies acquiring onshore assets as global majors focus on offshore projects.
News
July 26, 2024
The contracts involve both conventional and in-field processing services for 2D and 3D seismic surveys in countries like Saudi Arabia, Pakistan, Ukraine, the USA, Colombia, and Brazil.
News
July 25, 2024
Having already obtained all other relevant local and regulatory authorities’ authorizations, this achievement will allow Eni to proceed to with the sale of Nigerian Agip Oil Company Ltd (NAOC Ltd), Eni’s wholly owned subsidiary focusing on onshore oil & gas exploration and production as well as power generation in Nigeria, to Oando PLC, Nigeria’s leading national energy solutions provider.
