Seplat Energy to triple in size as it proposes to acquire Mobil Producing Nigeria for $1.283 bn


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Officialising a transaction that has been in the making for some time, Seplat Energy has announced this morning its proposed cash acquisition of Mobil Producing Nigeria (MPNU) for $1.283bn. Seplat Energy Offshore Ltd, a subsidiary of Seplat Energy, has now entered into the Sale and Purchase Agreement to acquire the entire share capital of MPNU […]

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Eco Atlantic to consolidate Southern African portfolio with acquisition of Azinam


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The South Atlantic continental margins of Africa continue to fuel investors’ appetite as their promising prospects open up to oil & gas exploration. Eco (Atlantic) Oil & Gas, the Canadian independent with assets in Guyana and Namibia, has just announced its acquisition of 100% of Azinam to consolidate its portfolio in the region, including in […]

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What are the shallow water assets Seplat Energy is trying to acquire from ExxonMobil in Nigeria?


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Following press speculation, Seplat Energy has finally confirmed today that it is indeed in competitive discussions to acquire ExxonMobil’s Nigerian shallow water business along with an undisclosed partner. While deliberations are still ongoing and have no certainty to conclude, such an acquisition would be transformational for Seplat. The assets that Seplat is eyeing cover those […]

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Ardova Plc completes acquisition of Enyo Retail & Supply Ltd in Nigeria


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Nigerian energy and oil marketing company Ardova Plc has announced the completion of its 100% acquisition of Nigerian fuels retailing company Enyo Retail & Supply. Through this transaction, Ardova has grown its fuel retail stations by 95, bringing its total network in Nigeria to 545. The acquisition is part of ongoing consolidation in the Nigerian […]

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Tullow Oil exercises pre-emption rights in Ghana and consolidates stake in key producing fields


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Tullow Oil has announced today that it has exercised its right of pre-emption related to the sale of Occidental Petroleum’s interests in Ghana’s Deep Water Tano (DWT) Block to Kosmos Energy. As per the DWT Joint Operating Agreement (JOA), Tullow has pre-emption rights in respect of the 11.05% participating interest acquired by Kosmos Energy from […]

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Nigeria: RainOil completes acquisition of majority stake in Eterna Plc


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RainOil has completed its acquisition of 63.6% of the shares of Eterna Plc though its investment arms, Preline Ltd (60.9%) and Norsworthy Investments (2.6%). The Sale and Purchase Agreement (SPA) was executed on August 25th, 2021. The transaction had been reported in Hawilti’s Q3 M&A Watch, available within the Hawilti+ research terminal. The acquisition of […]

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Kosmos Energy consolidates interests in Ghana’s producing Jubilee and TEN fields


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Kosmos Energy has just announced the close of a transaction by which it has acquired an additional 18% in the Jubilee Field and an additional 11% in the TEN Fields in Ghana from Occidental Petroleum (OXY) for a price of $550m. Both assets were previously chased by TotalEnergies as part of its broader acquisition of […]

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After Oza and Asaramatoru, Decklar considers entry into Emohua Marginal Field


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Decklar Resources has announced it has entered into a non-binding letter of intent to purchase all of the issued and outstanding shares of Wesfield Exploration and Production. Westfield E&P is the Nigerian entity that holds a Risk Finance and Technical Services Agreement (RFTSA) with Erebiina Energy Resources, the recent winner of the Emohua Marginal Field […]

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A.P. Moller Capital has acquired 44% of Cabeólica from the Africa Finance Corporation


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Through the Africa Infrastructure Fund, A.P. Moller Capital has just acquired a 44% stake in Cabeólica S.A., which runs four wind farms on the islands of Santiago (9.35MW), São Vicente (5.95MW), Sal (7.65 MW) and Boa Vista (2.55 MW) in Cabo Verde. The stake was acquired from the Africa Finance Corporation (AFC), who has been […]

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Dorman Long Engineering eyes expansion after equity investment from Africa Capitalworks


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Dorman Long Engineering, one of Nigeria’s leading oilfields equipment, structural steel, marine structures engineering and fabrication company has just secured a significant investment from Africa Capitalworks to support its expansion. Established in Nigeria back in 1949, Dorman Long Engineering has grown to be one of Nigeria’s leading industrial and infrastructure development players, notably by servicing […]

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Nigerian trader farms into Thali PSC offshoreCameroun


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Private Nigerian trading house Beluga Energy has signed a binding Heads of Agreement with Tower Resources Cameroon last month to acquire a 49% non-operating working interest in the Thali production sharing contract (PSC) offshore Cameroon. As operator, Tower Resources had been looking for a partner for some time in order to drill the NJOM-3 well. […]

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Amethis successfully exits Burkina Faso’s leading LPG distributor


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Following its investment in Burkina Faso’s leading LPG distributor Sodigaz APC in 2017, Amethis has just sold its 22% stake in the company to African Infrastructure Investment Managers (AIIM). Over the years, Sodigaz has built a 60% market share of Burkina Faso’s LPG distribution market and currently relies on a network of 2,200 gas resellers. […]

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