Energy

In yet another deal within the Orange Basin, Eco (Atlantic) Oil & Gas has announced its acquisition of another 6.25% in South African block 3B/4B. The company already entered the block earlier this year when it acquired Azinam, who holds a 20% non-operated interest in the license. Eco Oil & Gas is acquiring its additional […]

Last week in Cairo, the Afreximbank signed a Heads of Terms to support the establishment by UTM Offshore of the first Africa-owned floating LNG unit in Nigeria. Both companies had already signed a memorandum of understanding (MoU) at the end of last year. UTM Offshore has been working for a couple of years on deploying […]

Over the weekend, the Government of Tanzania signed a Framework Agreement with Equinor and Shell to support negotiations on the Tanzania Gas and LNG Project (TGP). The agreement marks another step towards the signing of the Host Government Agreement (HGA) expected before the end of 2022. Both international oil companies resumed negotiations mega-gas project in […]

Nigeria’s daily oil production averaged 1,024,371 barrels of oil last month, according to data by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This marks a new all-time low for sub-Saharan Africa’s largest oil producer, who should be able to produce 2 million bopd and had its OPEC quota for May set at 1.753m bopd. Who […]

The United States’ International Development Finance Corporation (DFC) is evaluating an increase of its loan to Renergen’s Virginia Gas Project in South Africa by up to $500m. The development finance institution (DFI), previously known as Overseas Private Investment Corporation (OPIC), had already provided $40m in debt to finance Phase 1 of the project. Its growing […]

Tullow Oil and Capricorn Energy (formerly Cairn Energy) have agreed earlier this week on an all-stock merger deal worth over $800m. The combination of both companies will create one of Africa’s leading independent energy companies, and confirms the strong rise of M&A deals in Africa this year. The deal is likely to be implemented as […]

The Petroleum Directorate of Sierra Leone officially launched the country’s 5th Petroleum Licensing Round in London today. In total, 63,643km2 of offshore acreage is up for grab across 56 graticular blocks of some 1,360km2 each. A contract area is formed with a minimum of three graticular blocks. The Licensing Round will remain open until September […]

The International Finance Corporation (IFC) has announced the signing of a collaboration agreement with Mozambique’s Ministry of Mineral Resources and Energy (MIREME) on the implementation of the 1.5 GW Mphanda Nkuwa Hydropower Project and its associated transmission facilities. The $4.5bn project will be constructed in Mozambique’s central Tete Province that borders Malawi, Zambia, and Zimbabwe. […]

Innoson Oil & Gas, part of Nigeria’s IVM Innoson Group, revealed last week the findings of a third-party evaluation conducted by Ryder Scott Co. on its concession offshore Sierra Leone. According to the American engineering and geological consultants, Innoson Oil & Gas’ blocks could contain up to 8.2 Tcf of gas and 234m barrels of […]

The Lagos Free Zone (LFZ) has officially signed earlier today a Gas Infrastructure Development Agreement with Optimera Energy FZE to develop its own gas distribution network. The new project gathers some of Nigeria’s leading gas players around a new venture committed to promoting gas-based industrialisation. West Africa’s leading industrial hub needs gas Located on the […]

Investing in Nigeria may not be for the faint-hearted, but the country continues to prove times and again that it can be a highly rewarding market. By securing an indirect interest in some of the country’s largest producing deep-water blocks in 2020, Africa Oil Corp. has shown the benefits that come with betting on Nigeria’s […]

The 21st edition of Nigeria’s foremost energy event, NOG Conference and Exhibition is set to hold in person at the International Conference Centre, Abuja from 4 – 7 July 2022. dmg Nigeria events, the organisers of the event stated that NOG 2022 will host key stakeholders from across the global energy value chain to discuss […]

LSE-listed Wildcat Petroleum (WCAT) had announced the signing of a Reconnaissance Permit Agreement with the Petroleum Directorate of Sierra Leone (PDSL). The permit grants Wildcat Petroleum non-exclusive rights to conduct reconnaissance operations over 24,000 km2 for a period of six months. The company will notably carry out a desktop study using geophysical and geological data […]

GAS Entec, a subsidiary of Singapore-based Atlantic Gulf & Pacific International (AG&P) has completed the conversion of a 125,000 m3 LNG carrier for KARMOL, the joint-venture of Turkey’s Karpowership and Japan’s Mitsui OSK Lines. The converted 84 MMscf/d modular floating storage and regasification unit (M-FSRU) is a first in the world and will be delivering […]

To support gas monetization in Mozambique, Sasol has signed today an agreement with the country’s National Investment Bank (BNI) and the Ministry of Mineral Resources and Energy to set up a $5m fund for the development and expansion of compressed natural gas (CNG) projects. The fund will be financed by Sasol and managed by BNI […]

Afentra has officialised its entry in Angola with the signing of Sale and Purchase Agreement (SPA) with Sonangol’s upstream subsidiary Sonangol Pesquisa e Produção. The one-year old, AIM-listed independent is acquiring from Sonangol a 20% non-operated interest in the producing Block 3/05 and a 40% non-operated interest in exploration Block 23 for up to $130m, […]

Hawilti has marked the launch of its gas research programme on Nigeria with the release of a comprehensive investment report on the country’s natural gas sector earlier this week. The 2022-2023 programme seeks to analyse the growth of Nigeria’s natural gas value-chain in light of current regional and global market dynamics. While the Nigerian government […]

Worley has announced that it has been awarded a contract to provide main front-end engineering design (FEED Phase II) services for the 7,000km Nigeria-Morocco Gas Pipeline (NMGP) project. The feasibility study and FEED Phase I were previously completed by Penspen. The project is led by Morocco and Nigeria’s national oil companies, the Office National des […]

Yesterday, PPC Zimbabwe broke ground on two solar PV plants in Bulawayo and Gwanda in southwestern Zimbabwe. The facilities will have a combined generation capacity of 30 MWac and were awarded to a consortium of the African Transmission Corporation (ATC) and Sinohydro Corporation following a competitive tender. The consortium’s project company, CentraWest, is mandated to […]

Over 100 people lost their lives last weekend at an illegal crude oil bunkering site at the Abaezi forest, in the Ohaji-Egbema Local Government Area of Nigeria’s Imo state. The illegal oil refining depot bordered Nigeria’s Rivers and Imo states and is one of many such sites operated across the Niger Delta by illegal refiners […]