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The project will develop an estimated 44 million barrels of oil reserves and add 30,000 barrels of oil per day to Block 18 production once it reaches its peak in 2022.
Ghana's latest Budget Statement revises benchmark oil price upward and expects $1bn a year in oil revenues until 2025 despite decreasing oil production.
The 3.4 million tonnes per annum (mtpa) FLNG forms part of the Coral South Projec and will be towed and moored at its operating site in the Rovuma basin offshore Mozambique next year.
The United States, Britain, France, Germany and the European Union have committed $8.5bn (£6.2bn) to help end South Africa’s reliance on coal.
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The acquisition is part of ongoing consolidation in the Nigerian downstream market as oil marketers seek to achieve economies of scale to boost profitability.
The company has become cash positive less than two years after securing exposure to Nigerian deepwater fields.
The Nigerian downstream sector is going through significant consolidation as players seek to expand their reach and network to benefit from economies of scale in a market where PMS remains heavily subsidised and regulated.
The investment required for the large-scale green hydrogen project represents the size of Namibia's GDP.
BW Energy has just acquired Aquadrill's semisubmersible drilling rig “Leo” for the development of the Kudu gas field offshore Namibia.
South Africa’s state-owned Central Energy Fund (CEF) has issued a request for information (Rfi) for the development of a midstream LNG hub in South Africa’s Eastern Cape Province.
Gulf of Guinea
BW Energy has announced that the hook-up of the DTM-6H and DTM-7H production wells at its Dussafu Marin Permit offshore Gabon has been completed and handover to production operations made.
Once completed, the new Donsin international airport will replace the current Ouagadougou-Taamsê International Airport.
VAALCO Energy, the independent company operating oil & gas projects offshore Central Africa, has just reported a strong net income of $31.7m for Q3 2021.
InfraCo Africa and Helios are establishing a new $350m climate-focused investment vehicle for Africa
InfraCo Africa and Helios Investment Partners have announced that they are working together to establish a pan-African investment vehicle: Climate, Energy Access and Resilience (CLEAR). The initiative was revealed as part of a UK government event hosted in Glasgow on Finance Day of the UN’s COP26 Summit.
The provisional award gives the three companies the opportunity to explore next to their existing producing infrastructure on the Dussafu and Etame permits.
This is A.P. Moller Capital's second major deal within sub-Saharan Africa's power sector this year following its acquisition of Iberafrica from Naturgy in April.
With double-digit demand growth and soaring prices, LPG is the commodity of the year in West Africa. Nigeria in particular is experiencing a significant expansion of its clean cooking industry, slowed down only by limited infrastructure availability.
The opening of a new play concept in Côte d'Ivoire's sedimentary basin is very good news for a country where oil production has failed to meet expectations and has been dropping significantly in recent years.
After investing half a billion dollars into Senegal’s agriculture, the Millenium Challenge Corporation has committed another $550m into its electricity sector. Hawilti unpacks the U.S. Government's latest foreign aid programme.
Tower Resources Cameroon has finally found a farm-in partner to acquire a 49% non-operating working interest in the Thali production sharing contract (PSC) offshore Cameroon.
To date, 21 African countries have sold Eurobonds worth a combined total of over US$155 billion on international bond markets since 2006.