Oil & Gas

UFG denies agreement with Egyptian govt on Damietta LNG plant restart

Feb 20, 2019

The negotiations with the Egyptian authorities are still ongoing. UFG reiterates its commitment to reach an amicable agreement with the Egyptian Gov’t and the State-Owned Companies based on the compensation for the damages caused, the restoration of gas supply to the Damietta LNG plant and the guarantees of future compliance with the contracts. Given the…

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Over 500 landowners to be affected in Kenya’s crude export right of way

Feb 20, 2019

The Kenyan government has published a gazette giving notice to land owners along the right of way of the planned crude oil export pipeline to the coast of Lamu. The action is the latest in the series of actions leading up to final sanction of a 140,000Barrels of Oil Per Day oilfield development project, expected…

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ENOC Group signs JV with Proserv Egypt as it enters Egyptian lubricants sector

Feb 19, 2019

ENOC Group signed a joint venture (JV) agreement with Proserv Egypt to set up ENOC Misr, its first on-ground operations in the lubricants sector in Egypt. The agreement marks ENOC Group’s physical presence in Egypt as part of its wider plans to expand its internationally into key markets, including Africa. Through this JV agreement, ENOC…

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US calls for urgent security arrangements on Libya’s Sharara oil field

Feb 19, 2019

The US has called for urgent security measures on the al-Sharara oil field in Libya. This arrangement will guarantee the safety of National Oil Corporation (NOC) workers and allow oil production at the al-Sharara oil field to resume as quickly as possible, said Robert Palladino, deputy spokesperson of the US Department of State. Palladino reiterated…

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Kenya Pipeline under spotlight over irregular allowances

Feb 19, 2019

Corruption-riddled Kenya Pipeline Company is on the spot again over irregular payment of overtime allowances, according to the latest report of the Auditor-General tabled in Parliament. The report indicates that the firm paid overtime allowances amounting to Sh306 million to 1,080 staff contrary to the company’s rules and regulations. According to the report was tabled…

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Anadarko announces LNG SPA with Pertamina

Feb 19, 2019

Anadarko Petroleum Corporation (NYSE: APC) today announced Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of the Mozambique Area 1 co-venturers, has signed a Sale and Purchase Agreement (SPA) with Pertamina. The SPA is for 1 million tonnes per annum (MTPA) for a term of 20 years. “Indonesia is expected to be one…

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Algerian Govt says fall of oil prices “has not slowed development pace” of Algeria

Feb 19, 2019

The fall of oil prices from 2014 “has not slowed the development pace” of Algeria, despite the loss of 70% its revenues, said the document on the Declaration of the Government’s General Policy. “The decline in the oil prices started in 2014, peaking in 2016. The situation has slightly improved since then. Likewise in several…

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Sasol looks to acquire more West African upstream assets

Feb 19, 2019

Sasol is looking to acquire more upstream acreage in West Africa. The company’s only operated upstream acreages outside South Africa are in Mozambique. It has equity in upstream acreage in Gabon and is involved in a midstream project in Nigeria. Sasol says it has strong basin knowledge in West Africa and it is building on…

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Panoro announces 50% increase in 2P oil reserves in Tortue field, offshore Gabon

Feb 19, 2019

Panoro Energy has provided an update on the Dussafu Production Sharing Contract (‘PSC’), offshore Gabon, including a new oil reserves review from independent reserves auditor Netherland, Sewell & Associates Inc. (‘NSAI’) on the Tortue field located within the PSC. John Hamilton, Chief Executive Officer of Panoro, said: ‘The 50% increase in the mid-case scenario compared…

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KCA Deutag gets drilling contracts in Middle East, Russia and Africa

Feb 19, 2019

Global drilling and engineering contractor KCA Deutag (“KCAD”) today announces that its land drilling operation has won new contracts and contract extensions worth approximately $110M. These contracts are for onshore drilling in the Middle East, Russia and Africa. Middle East In the Middle East, KCAD has been successful in winning a total of seven years…

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