Oil & Gas

S. Sudan oil outlook hinged on shaky peace deal – WoodMac

Nov 10, 2018

South Sudan’s optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd. Crude production fell by about two-thirds to 130,000 barrels per day as blocks were shut-in during a conflict that erupted in late 2013, after a…

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CGG announces fast-track 3D seismic data from Mozambique multi-client survey

Nov 9, 2018

CGG announced during Africa Oil Week that the fast-track 3D seismic data from its recent Mozambique multi-client survey in the outer Zambezi Delta Basin is now available for licence. Interested international oil companies with an Africa focus can view the high-end data set in CGG data rooms in anticipation of the country’s 2019 licensing round. The data covers a 15,400 km2 area…

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Gabon launches offshore licensing round, to scrap corporate tax

Nov 9, 2018

Gabon has launched a new offshore exploration licensing round for 34 oil and gas blocks and plans to soon enact new legislation that would scrap the 35-percent corporate tax on energy companies, Gabon’s Oil Minister Pascal Ambouroue said at an oil conference on Wednesday. OPEC member Gabon, a country on Africa’s West Coast, wants to…

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Republic of Congo initiates oil exploration licensing round

Nov 9, 2018

The Republic of Congo has launched its latest oil exploration bidding round in Cape Town, offering 18 blocks in deep-water offshore and onshore sites in its efforts to boost production, the ministry of hydrocarbons said on Tuesday. Operators already in the country, which produces about 350,000 barrels per day (bpd), include oil majors Chevron and…

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Bowleven updates Cameroon operations

Nov 9, 2018

Bowleven, the Africa focused oil and gas exploration group traded on AIM, has announced its preliminary results for the year ended 30 June 2018. HIGHLIGHTS Operational Etinde, offshore Cameroon Ongoing operator evaluation of development options, including scope for early-stage development plans that align with the Government’s preferred offtake solutions. Two carried appraisal well locations agreed…

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Eni, Sonangol agree expansion of Block 15/06 perimeter, off Angola

Nov 9, 2018

Eni and Sonangol have signed an amendment of the Block 15/06 Production Sharing Contract which defines the new perimeter of the block, now covering an additional area of 400 km2 on the west side. This is in line with Eni strategy to increase exploration activities in the country, chasing opportunities nearby the existing producing hubs. Following the discovery of Kalimba 1…

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Africa sees oil boom on drilling expansion across continent

Nov 9, 2018

Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration…

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African Petroleum looking for arbitrator in Senegal case

Nov 9, 2018

African Petroleum (AP) is looking for an alternative arbitrator for its arbitration proceedings in Senegal after a potential conflict was identified for its previous nominee. The Senegalese government has not appointed an arbitrator either. It would be recalled that AP registered a request for arbitration proceedings with ICSID on July 11, 2018 to protect its…

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Ghana approves state oil firm as partner for Exxon in deepwater field

Nov 9, 2018

Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil’s deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday. The West African nation is receiving “huge interest” from international and local oil companies after the government launched its first bidding rounds for offshore blocks last month, Amewu told reporters. Exxon Mobil…

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Eni and Total collaborate on exploration off Algeria

Nov 9, 2018

Italian energy company Eni and its French peer Total have signed a deal to jointly explore for oil and gas in Algeria. The duo signed a deal with state-owned Algerian energy company Sonatrach to pursue offshore exploration in the country while working together on exploration permits. “Together with Sonatrach and Total, we will have the…

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