Oil & Gas

Egypt seeks $10bn in new oil, gas investments

Nov 13, 2018

In a Ministry of Petroleum statement released on November 10, Tarek El Molla, Egypt’s petroleum minister, said the country was looking to attract an estimated $10 billion in new investments during the current fiscal year. The funds will be used in the search for oil and gas and to further the development of discovered fields.…

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Sonatrach seeks to lure foreign firms to help lift Algeria’s gas output

Nov 12, 2018

After persuading oil majors to help explore Algeria’s vast shale gas reserves, state energy firm Sonatrach has started reaching out to a different kind of partner: mystical Sufi preachers. Sonatrach CEO Abdelmoumen Ould Kaddour and his colleagues have been courting Sunni Muslim Sufi masters from communities in areas near prospective southern gas fields to win…

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Rockhopper gives update on Egypt operations

Nov 12, 2018

Rockhopper Exploration, the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, has provided an operational and corporate update in relation to its Egyptian portfolio. Current production from the Abu Sennan concession is approx. 3,800 barrels of oil per day (‘bopd’) gross (840 bopd net to Rockhopper’s 22% working…

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Total inaugurates the Kaombo project, commits to new investments in Angola

Nov 12, 2018

The Angolan State Minister for Economic and Social Development, Manuel Nunes Junior, the Chairman and CEO of Total, Patrick Pouyanné, and the Chairman of the Board of Directors of Sonangol, Carlos Saturnino, inaugurated the Kaombo project today, which came on stream in July and is located deep offshore on Block 32, 260 kilometers off the…

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Uganda expecting first oil in 2021, refinery by 2023 – Minister

Nov 11, 2018

Uganda expects to start producing oil in 2021, a year later than initially planned, and its refinery should be up and running by 2023, its oil minister said on Thursday. France’s Total is an investor in Uganda’s oilfields, with China’s CNOOC and Britain’s Tullow Oil. “Our initial target was 2020. That seems to have slipped…

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Explorers hit the jackpot in sub-Saharan Africa – WoodMac

Nov 11, 2018

In the past 10 years, explorers in sub-Saharan Africa have turned up more giant discoveries than any other region. These 500 million barrel-plus finds are dominated by multi-trillion cubic feet gas fields in the tropical waters of Mozambique and Tanzania, play openers in the Atlantic Margin of Senegal and Mauritania, deepwater giants still lurking offshore…

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Senegal seeks bigger royalties, stakes in new oil law

Nov 11, 2018

Senegal is considering raising royalties and taking a bigger stake in oil and natural gas projects as part of the West African nation’s overhaul of its oil code, according to a document obtained by Bloomberg. Senegal is revising its code as a string of major discoveries off its coast is expected to make the country…

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FAR’s Samo-1 well offshore Gambia disappoints

Nov 11, 2018

FAR Limited reports that the Samo-1 exploration well in block A2, offshore The Gambia has been drilled to a total depth of 3240m and wireline logging is nearing completion. The well operations to date have been conducted safely, efficiently, ahead of schedule and within budget. Interpretation of the wireline logs so far indicates that the…

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Panoro to acquire OMV Tunisia Upstream GmbH for $65m

Nov 11, 2018

London-based independent E&P company Panoro Energy’s Norwegian subsidiary Panoro Tunisia Production AS has signed an agreement with OMV Exploration and Production GmbH to acquire 100 per cent of the shares of OMV Tunisia Upstream GmbH for a transaction value worth US$65mn. OMV Tunisia holds a 49 per cent interest in five oil-producing concessions in Tunisia…

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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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