Oil & Gas

South Africa mulls partners for South Sudan oil block

May 21, 2019

South Africa’s Strategic Fuel Fund is welcome to bring in partners to help it execute a $1bn (R14.5bn at current exchange rates) agreement to drill for oil and build a refinery and pipeline in South Sudan, the central African nation’s oil minister said. Under the agreement, signed between the two governments on May 6, the Strategic…

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Shearwater awarded Woodside seismic acquisition project off Senegal

May 21, 2019

Shearwater GeoServices has announced the award of a high-density multi-azimuth 3D seismic acquisition contract over the SNE field offshore Senegal by Woodside Energy in its capacity as Operator of the SNE Field Development Joint Venture. The contract covers the Sangomar, Sangomar Deep and Rufisque Offshore blocks, which include the SNE discovery. The work, designed as high density and multi-azimuth survey, will…

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Angola’s political turmoil fueled by oil upheaval

May 20, 2019

The controversial firing of the head of Angola’s state energy giant has underlined President Jose Lourenco’s eagerness to cement his grip on power, crush dissenting voices in his increasingly divided ruling party and brought the purported anti-corruption campaign into the spotlight. Carlos Saturnino, dismissed as chairperson of Sonangol, is the latest executive to feel the…

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Libya’s warring factions putting 95% of country’s oil production at risk – NOC boss

May 20, 2019

Armed conflict between groups vying for control of Libya is putting the country’s lifeblood oil and gas industry at risk of almost total collapse, just as production is beginning to recover from years of war, the head of the country’s state oil company said Saturday. Libya is currently pumping almost 1.3 million b/d, National Oil…

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Somalia’s Federal Government to receive lion’s share of oil revenue in new deal

May 20, 2019

The Lower House of Parliament has approved the national resource sharing deal that has apportioned the proceeds each party is entitled to in the sale of oil. Under the new deal, the Federal government will have 55% share, oil producing region 25%, oil producing district 10, non-oil producing state 10%. Measure goes to Upper House.…

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SDX Energy provides Morocco operations update

May 20, 2019

SDX Energy saw an increase in gas sales out of Morocco, with production remaining stable during Q1. The company’s Moroccan acreage, in which it holds 75% interest, consists of five concessions, all of which are located in the Gharb Basin in northern Morocco: Sebou, Lalla Mimouna Nord, Gharb Centre, Lalla Mimouna Sud, and Moulay Bouchta…

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Wentworth Resources provides Tanzania and Mozambique operational updates

May 19, 2019

Wentworth (AIM: WEN), the AIM listed independent, East Africa-focused oil & gas company, is pleased to announce the following updates. Corporate Further to the announcement of the Company’s results for the year ended 31 December 2018 on 24 April 2019, Wentworth confirms that the Annual Report and Financial Statements for the year ended 31 December…

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Angolan crude exports to edge up in July

May 19, 2019

Angola’s preliminary loading programme for July emerged on Thursday, indicating a rise of one cargo compared to June, for which a few cargoes still remain. High price offers are expected, given global tightness in physical markets and a broad gap in heavier grades. July exports are set to be 44 cargoes, a recovery to just…

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Libya’s Sirte Oil Company increases flows at Istiklal oilfield

May 17, 2019

NOC unit, Sirte Oil Company (SOC), completed successful development drilling of well FF03-6 of the Gargaf gas formation within the Istiklal oilfield. The activities of SOC were fully supported by the state-run firm as part of its drive to increase and maintain production and ensure regular gas supply to coastal region power plants. The testing…

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Eni and Sonatrach extend gas supply contract till 2027

May 17, 2019

Eni and Sonatrach have signed agreements to renew the gas supply contract to import Algerian gas into Italy until 2027 (plus two further optional years) also defining the transportation arrangements through the pipeline crossing the Mediterranean Sea. These agreements follow in the steps of a partnership on gas supply and transportation that was established more than 40 years…

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