African Development Bank Group and French Development Agency sign €2 billion co-financing partnership

On the sideline of the Paris Peace Forum this week, the African Development Bank Group (AdFB) and French Development Agency (AFD) have signed a €2 billion co-financing partnership agreement for Africa.

The agreement covers the 2021-2026 period and targets €2 billion in the first three years only to complement the current partnership between both institutions. The existing partnership already covers such key sectors as infrastructure, water and sanitation, agriculture, and the private sector.

The new agreement supersedes an earlier framework agreement signed in November 2015.

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FAR has spudded the Bambo-1 exploratory well offshore The Gambia – What’s next?

FAR has successfully spudded the Bambo-1 exploratory well on Block A2 offshore The Gambia. The drilling campaign will take about one month and drill the well to a depth of about 3,400 metres. Bambo-1 will drill into a series of vertically staked targets with a combined estimated recoverable prospective resource of over 1 billion barrels […]

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

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 […]