Market News| Africa Business News

Kenya Algeria Sign Mou On Oil And Gas

Kenya has signed a Memorandum of Understanding with Algeria to promote bilateral cooperation in the field of oil, gas and power. In a signing overseen by of President Uhuru Kenyatta and Prime Minister Abdelmalek Sellal at the Presidential Palace in Algiers Cabinet Secretary of Foreign Affairs and International Trade Amb. Amina Mohamed signed on behalf of Kenya while her counterpart Mr. Ramtane Lamamra signed for.... Read more »

Posted on : Monday , 2nd March 2015

Orca Considering First Phase Of Offshore Development In Tanzania

Orca exploration has said it is contemplating a first phase of offshore development consisting of working over two existing wells (SS-5 and SS-9) that are currently suspended in order to fill the existing Songas infrastructure to capacity and provide operational redundancy. This follows under-utilization of the existing infrastructure with the Songo Songo field currently producing approx. 91 million standard cubic feet per day.... Read more »

Posted on : Monday , 2nd March 2015

Aberdeen University To Help Develop Oil And Gas Education In Tanzania

Aberdeen University has been awarded a £1.4million grant to help develop oil and gas education in East Africa. The grant will be split with Dar es Salaam University in Tanzania to help develop the country’s young oil and gas sector with recent discoveries of significant gas reserves. This will help Tanzania develop the required human resource capabilities as it still relies heavily on sector expertise from.... Read more »

Posted on : Monday , 2nd March 2015

TANZANIA DRAWS CLOSER TO GAS PRODUCTION FROM THE KILIWANI NORTH 1 WELL

Aminex has notified shareholders that the Tanzanian Petroleum Development Corporation (TPDC), through its contractors, has now begun constructing the Skid Metering Unit within the boundaries of the Kiliwani North Development Licence (KNDL) and have completed laying pipe to the KNDL boundary. Once construction is complete the Kiliwani North 1 well (KN-1) will be connected to the new Songo Songo processing plant where the gas, once.... Read more »

Posted on : Tuesday , 24th February 2015

INDUSTRIAL VALVES MARKET IN THE MIDDLE EAST AND AFRICA TO REACH $10 BILLION BY 2019

A new study by Research and Markets on the Industrial Valves Market in the Middle East and Africa has shown that the market demand for industrial valve in these regions is estimated to reach $10 Billion by 2019, with a projected CAGR of 5.7% in the next half a decade The increasing demand in oil & gas, chemical and municipal applications is expected to be the major drivers for the industrial valves market in this.... Read more »

Posted on : Tuesday , 24th February 2015

Erhc Prepares For 1st Drilling In Kenya�s Block 11a

Houston based explorer ERHC has said it is working on securing the requisite drilling rig for its first well in Block 11A even as it continues with studies to determine the location for drilling. Already the company that is currently serving its first additional phase of exploration team is calculating volumetrics following the completion of 2D seismic mapping for identified prospects and leads in the Block, which will help.... Read more »

Posted on : Friday , 20th February 2015

Tanzania: Madinda-Dar gas pipeline project to end this year

The 542 km natural gas pipeline under construction in Tanzania, from Madinda in Mtwara to Dar es Salaam is now 99 per cent complete, with the project expected to be done by July 1 this year according to Tanzania Petroleum Development Corporation (TPDC) Plant Manager, Mr Leonee Mroso. The new gas pipeline is anticipated to transport a maximum of 784m standard cubic feet daily. The volume can generate over 2,000 megawatts (MW) of.... Read more »

Posted on : Tuesday , 17th February 2015

CAMAC completes seismic surveys for oil and gas exploration in Kenya

CAMAC Energy, a United States oil and gas exploration company has announced completion of 2D seismic acquisitions for two blocks in Kenya; 700 line kilometers on L-1B block and 325 line kilometers on L-16 block. The intention is to discover potential exploration targets in Paleozoic, Jurassic, Cretaceous, and Middle to Lower Tertiary sections, known to be oil-bearing in East Africa. The oil and gas exploration survey was carried.... Read more »

Posted on : Tuesday , 17th February 2015

sterling energy receives license extension for madagascar�s ambilobe, ampasindava blocks

The AIM listed oil & gas exploration company Sterling Energy Plc has announced it has received a Ministerial and Presidential approval was granted in October 2014 to extend the current phase of both the Ampasindava and Ambilobe PSCs to July 2016. These approvals have now been formally published in the Official Gazette of Madagascar, which is the final step in the approval process. The Ambilobe PSC which was first awarded in.... Read more »

Posted on : Tuesday , 17th February 2015

UGANDA TO AUCTION SIX MORE OIL BLOCKS

Uganda’s cabinet has approved the auction of six new exploration blocks in the oil rich Albertine basin in what will see the country’s first competitive bidding round. The new shift follows the passing of the Petroleum Exploration Development and Production Act 2013 Section 52 which allows the State Minister for Energy with the approval of Cabinet announce areas open for bidding for a petroleum exploration.... Read more »

Posted on : Tuesday , 17th February 2015

Algeria to invest US$70b in fracking technology

Algeria’s state-owned oil exploration company Sonatrach is set to invest US$70 billion in gas extraction through fracking technology in the next two decades. This decision was arrived at after successful drilling tests carried in the country’s southern desert. The project is aimed to help the country in producing 20 billion cubic metres of shale gas annually from 200 drilling sites in the.... Read more »

Posted on : Thursday , 12th February 2015

RWE Dea starts gas drilling operations in Algeria

German construction company RWE Dea has started drilling operations of gas wells in Algerian Sahara. The gas project is scheduled to give birth to 26 development wells in its first phase. Gas is expected from these wells in 2017. The initial drilling of the first well KL-39 began in January, and the drilling of the other 21 wells will take place in the course of the project. RWE Dea is a consortium of Groupment.... Read more »

Posted on : Thursday , 12th February 2015