Aminex PLC disclosed Monday that the Tanzania Petroleum Development Corporation (TPDC) has notified the Company of its intention to acquire a 5 percent working interest in the Kiliwani North Development License (KNDL) and will become a full working interest partner going forward. Under the terms of the Nyuni East Songo-Songo Production Sharing Agreement which governs the KNDL, TPDC has the right to acquire a 5 percent interest and it is this.... Read more »

Posted on : Tuesday , 6th October 2015

Hindustan Petroleum Corp. Ltd (HPCL), the country’s third biggest oil refiner, is negotiating with its partners in the Mozambique gas field, operated by Anadarko Petroleum Corp., to bring natural gas to India for its upcoming liquefied natural gas (LNG) terminal in Gujarat. The deal will not only give HPCL access to gas, which is logistically cheaper to source, it will also give the company a cost advantage in its natural gas trading.... Read more »

Posted on : Monday , 5th October 2015

The Ministry of oil in Sudan signed a $70 million agreement on Sunday with Russia’s Gazohim Techno for liquefaction of gas produced at Neem field in the west of the country using a process known as gas-to-liquids (GTL). Under the agreement a plant will be constructed to liquefy gas with a capacity of processing 10 million cubic feet of gas per day and convert to petroleum products such as gasoline and diesel at an estimated rate of 100.... Read more »

Posted on : Monday , 5th October 2015

“We are planning to spend about $25 million to $30 million in acquiring new terminals in East Africa,” Thangapandian Srinivasalu (left), the Executive Director of Gulf Petrochem said last week in Sharjah. Speaking to media in a series of interviews, Srinivasalu said their focus of growth will be the UAE, India and East Africa. “The next decade belongs to Africa and there are tremendous business opportunities in East.... Read more »

Posted on : Monday , 5th October 2015

 FAR Limited (FAR) has entered into a farm-in option agreement with a subsidiary of Trace Atlantic Oil (Trace) for the Djiffere block offshore Senegal. Under the agreement with Trace, FAR has the option to earn a 75 per cent working interest in the Djiffere block by drilling an exploration well before 31 July 2018, subject to regulatory approvals. The farm-in option can be exercised by FAR at any time before 31 October 2016, by which time.... Read more »

Posted on : Friday , 2nd October 2015

 The Nigerian National Petroleum Corporation (NNPC) has secured a US$1.2bn multi-year drilling financing package. The money will be used for 36 oil wells under the NNPC and Chevron Nigeria joint venture, according to a statement by Ohi Alegbe, general manager of group public affairs division at NNPC. Of the 36 wells, 23 are onshore and the remaining 13 are offshore wells in OML 49, 90 and 95. The money will be spent on development of the.... Read more »

Posted on : Thursday , 1st October 2015

 Uganda’s Ministry of Energy and Mineral Development (MEMD) plans to open up at least one more oil basin in the country   Frank Mugisha, the acting commissioner in charge of exploration in the Petroleum Directorate, said that the country was going to start exploring for oil in Lake Kyoga in central basin and Moroto-Kadama basin in Karamoja sub-region. He said the opening up of these basins could come as early as within this.... Read more »

Posted on : Wednesday , 30th September 2015

Sudanese Minister of Petroleum and Gas, Mohamed Zayed Awad, said that Sudan managed to indigenize the oil industry due to the mutually beneficial cooperation with China. Both countries developed a working model which can be followed during their 20 years of cooperation in the oil industry based on mutual respect and benefit, Awad told Xinhua in an exclusive interview. He reiterated Sudan’s ability to run oil operations with Sudanese.... Read more »

Posted on : Wednesday , 30th September 2015

Solo Oil has told investors that it continues to actively assess new investment opportunities in Africa and elsewhere. The company, currently approaching key milestones in Tanzania, in its interim results statement, said the prolonged period of depressed commodity prices is offering opportunities for selective and careful investment. And Solo says it will make investments in suitable ventures as and when it is appropriate. In Tanzania.... Read more »

Posted on : Wednesday , 30th September 2015

Kenya’s state-run oil and gas company, National Oil Corp. Kenya (NOCK) has invited Expressions of Interest (EOI) from eligible companies to acquire a multi-client 3D broadband seismic survey including processing over the shallow waters of the offshore Lamu basin, Kenya. The multi-client surveys and studies are part of the preparation for an open licensing round tentatively scheduled for the year 2017. A formal announcement on the.... Read more »

Posted on : Monday , 28th September 2015

East Africa has its first boutique Insurance Intermediary Company set up to provide niche and specialist insurance solutions to oil and gas exploration firms and their contractors. Underwriting Africa whose headquarters are based in Nairobi has among its Reinsurance Partners Swiss Re with other brokerage partners in London and Paris. On the oil and gas front the company will fill a gap that has been void in the local space allowing the.... Read more »

Posted on : Monday , 28th September 2015

The Ghana Gas Company says it is upgrading its infrastructure to enhance the capacity to receive all the gas from the Jubilee Field for processing. The development is expected to help improve the country’s current energy challenge. Speaking to Joy Business about concerns that excess gas may have to be flared due to the lack of capacity, Chief Executive Dr. George Sipa Yankey differed. He emphasized that Ghana Gas has more capacity.... Read more »

Posted on : Saturday , 26th September 2015