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Norway’s DNO enters Côte d’Ivoire’s as it looks for more African oil & gas deals


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DNO has announced yesterday the acquisition of Mondoil Enterprises from Oslo-listed RAK Petroleum for a consideration of $117.25m. By acquiring Mondoil Enterprises in an all-share transaction, DNO gains a 33.33% indirect interest in Foxtrot International, operator of the producing block CI-27 and exploration block CI-12 in Côte d’Ivoire. “As DNO targets expansion beyond the Kurdistan […]

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Petralon 54 takes action to start production from the Dawes Island Field in Nigeria by the end of 2022


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Petralon 54 Ltd, a subsidiary of Petralon Energy Ltd, is in active engagement with its host community in the Niger Delta and has commenced technical and operational activities to achieve production at the Dawes Island Field by the end of 2022, the company said today. The move follows the award of the Dawes Island Marginal […]

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D.R. Congo opens new Bid Round for 30 oil & gas blocks


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The Ministry of Hydrocarbons of the Democratic Republic of Congo (DRC) has officially opened today a new Bidding Round for 30 blocks across the country. The blocks are spread out across five different basins: Cuvette Central, Coastal Basin, Lake Tanganyika, Lake Kivu and the Albertine Graben. The Bid Round is supported by Xcalibur Multiphysics and […]

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Côte d’Ivoire: Eni increases reserves at Baleine discovery by 25% with second successful well


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Italian major Eni has announced the successful drilling and testing of the Baleine East-1X well within Block CI-802 offshore Côte d’Ivoire. This is the first well to be drilled in the block and targeting the Baleine structure discovered in 2021 in the adjacent Block CI-101. Results from the wells have allowed to increase the volumes […]

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Sierra Leone embarks on 5th Offshore Licensing Round


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In this interview, Director General of The Petroleum Directorate of Sierra Leone (PDSL), Mr. Foday Mansaray, discusses the announcement of the nation’s newest and most exciting Licensing Round and the potential to explore for oil and gas in Sierra Leone. What is the current state of the 5th Offshore Licensing Round and what can you […]

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First Oil expected “this month” at Ikike subsea tie-back in Nigeria


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The Ikike field will be put on production this month, said this morning Victor Bandele, Deputy Managing Director at TotalEnergies EP Nigeria. His remarks were made during the opening of the Nigerian Content Seminar in Abuja, which marks the start of DMG Events’ 21st NOG Conference & Exhibition. The Ikike field is developed as a […]

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Nigeria: get to know the awardees of the latest Marginal Fields Bidding Round


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Earlier this week, Nigeria held a grand ceremony in Abuja to unveil its Host Communities Development Regulations and Petroleum Prospecting Licences (PPLs) under its newly-adopted Petroleum Industry Act (PIA). The regulations are expected to provide a more durable and sustainable framework to engage local communities in the development of the country’s oil and gas sector. […]

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Eco Oil & Gas consolidates interest in Block 3B/4B offshore South Africa


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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 […]

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Nigeria: oil production reached historic low of only 1 million bopd in May 2022


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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 […]

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Tullow Oil and Capricorn Energy agree on all-stock merger deal


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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 […]

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Sierra Leone launches 5th Petroleum Licensing Round


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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 […]

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New study shows 8.2 Tcf potential at Innoson’s oil & gas concession offshore Sierra Leone


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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 […]

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How Africa Oil Corp. made half a billion dollars from Nigeria in less than two years


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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 […]

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Wildcat Petroleum granted non-exclusive right over 20 blocks offshore Sierra Leone


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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 […]

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Afentra acquires interest in producing and exploration blocks offshore Angola


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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, […]

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Exploration in Angola: find out about the country’s latest bidding round at Cape VIII


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On April 5th, the Angolan National Oil, Gas and Biofuels Agency (ANPG) opened a tender for eight oil blocks in the Lower Congo and Kwanza offshore basins. These include Blocks 16/21, 31/21, 32/21, 33/21 and 34/21 in the Lower Congo and Blocks 7/21, 8/21 and 9/21 in the Kwanza Basin. In the presence of Minister of Mineral Resources, Petroleum […]

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NOCs dominate list of bidders under Mozambique’s 6th Licensing Round


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Following the completion of the pre-qualification process for Mozambique’s 6th Licensing Round, a total of 13 companies have submitted documents. Interested bidders mostly include national oil companies, including CNOOC, Sinopec International, and PetroChina International (CNPC) of China, ONGC Videsh of India, Rosneft (RN Angoche) of Russia and QatarEnergy. The IOCs that already have blocks in […]

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Can African oil producers help the world end reliance on Russian oil and gas?


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Unlocking Africa’s oil and gas potential is now imperative against the backdrop of the war in Ukraine and the resulting crude, diesel, and gas supply crunch. This has rendered European dependence on Russian energy untenable, creating a major opportunity for Africa to position itself as a crucial option to increase the supply to the global […]

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Invictus Energy commits to more gas exploration onshore Zimbabwe


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Geo Associates, who is about to drill in Zimbabwe what is believed to be the largest undrilled structure onshore Africa, has just committed to a second well this year. The company is a subsidiary of Australian independent Invictus Energy and holds an 80% interest in SG 4571 over the Cabora Bassa Basin in northern Zimbabwe. […]

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In this new oil market supercycle, African operators turn to local content for help


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Economic recovery, geopolitics and the overall global energy demand and supply have impacted the price of both crude oil and natural gas in the last couple of months. A reality that has gotten genuine industry players working, especially within Africa. On the continent, oil players are ramping up activity first for their domestic markets, and […]

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