Oil & Gas

Egypt’s law number 9 paves way for Gulf of Suez activity

May 15, 2019

Egyptian President Abdel Fattah El Sisi approved law number 9 for 2019, allowing the Minister of Petroleum, Tarek El Molla, to proceed with the exploration and production (E&P) agreement made with the Egyptian General Petroleum Corporation (EGPC) and DEA Suez GmbH, Amwal Al Ghad reported. According to the agreement, the company will search for and develop oil…

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Serinus ramping up operations in Tunisia

May 15, 2019

Serinus Energy Plc shares were slightly lower on Monday as the company updated on its operations in Romania and Tunisia. At the Moftinu gas development project in Romania the company has recently brought online the Moftinu-1003 and Moftinu-1007 wells, and, production is being optimised from both. The company intends to drill the Moftinu-1004 well in late…

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TransGlobe provides Egypt operations update

May 15, 2019

TransGlobe Energy saw an average of 13,616 bpd of crude during Q1 from its Egyptian assets. TransGlobe’s Egyptian crude oil is sold at a quality discount to Dated Brent. The company received an average price of $54.93 per barrel during the quarter In Egypt’s Eastern Desert two development oil wells were drilled during Q1. At…

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Mozambique approves Rovuma LNG development plan

May 15, 2019

Mozambique Rovuma Venture said today that the government of Mozambique had approved its development plan for the Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs of the Mamba complex located in the Area 4 block in the Rovuma basin, two of which straddle the boundary with neighboring Area 1.…

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Strata X announces 83% increase in prospective gas resource at Serowe CSG project, Botswana

May 14, 2019

Highlights: MHA Petroleum Consultants, independent qualified reserve and resource certifiers, have certified the following gas resources within Strata-X’s 100% owned Serowe CSG Project in Botswana. 6.08Tcf total Prospective Resources net to the Company, an increase of 83%. 2.38Tcf Prospective Resource within the Company’s interpreted high-grade area, an increase of 40%. Maiden 23Bcf  2C Contingent Resource,…

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Eni announces new light oil discovery offshore Angola

May 14, 2019

After Kalimba, Afoxé and Agogo, the Ndungu discovery further demonstrates the exploration potential contained in the block’s deeper geological sequences. Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore. The well was drilled on the Ndungu exploration prospect. The new discovery is estimated to contain up to 250 million barrels of light…

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Uganda Oil Company boss quits

May 14, 2019

The Uganda National Oil Company (Unoc) board chairperson, Emmanuel Katongole, last evening acknowledged receipt of Dr Josephine Wapakabulo’s resignation letter as chief executive officer, but said it ‘has not been accepted yet’. “The board will sit and discuss a way forward; we have a management succession plan, but Josephine is still working, she will leave…

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Kenya Pipeline to spend millions over oil leak detection blunder

May 14, 2019

A costly blunder during the construction of a Sh48 billion pipeline from Mombasa to Nairobi is set to bleed Kenya Pipeline Company more money after an oil spill occurred in Makueni barely a year into its operation. The 20-inch pipeline was designed without any leak detection systems, making it as bad as the leak-prone old…

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Angolan July crude programme expected by weekend

May 14, 2019

Angolan cargoes for June had just about sold out by Monday, as the programme for July was awaited by the end of the week with high offering prices again expected amid tightness in global physical markets. The Angolan programme was expected on Wednesday or shortly after, with traders keen to see if maintenance was completed…

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Anadarko announces LNG SPA with Jera and CPC Corp, Taiwan

May 13, 2019

Anadarko Petroleum has announced that Mozambique LNG1 Company, the jointly owned sales entity of the Mozambique Area 1 co-venturers, has signed a Sale and Purchase Agreement (SPA) with JERA and CPC Corp. The SPA calls for the delivered ex-ship supply of 1.6 million tonnes per annum (MTPA) for a base term of 17 years from the commercial start date. Mozambique LNG’s portfolio of…

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