Tower Resources has announced that it has reached agreement with the Operator, Repsol Exploration (Namibia) (Pty) Limited relating to the disputed costs associated with the drilling of the Welwitschia prospect, offshore Namibia.   As announced on 3rd September 2014, the Operator’s estimate of well and other related costs for the drilling of the Welwitschia prospect, which had been completed on 15th June 2014, had increased to.... Read more »

Posted on : Monday , 22nd December 2014

DFID-Kenya committed to Turkana County Government to support engagement of communities, with oil companies and NGOs, for local development of areas The UK's Department for International Development (DFID-Kenya) committed to Turkana County Government to support engagement of communities, with oil companies and NGOs, for local development of areas affected by oil explorations. Speaking during the signing of the framework, Head of DFID Kenya, Ms.... Read more »

Posted on : Sunday , 21st December 2014

 VAALCO Energy, Inc. (NYSE: EGY) today announced the completion of the Etame 8-H, the first development well drilled from the newly installed Etame platform, offshore Gabon.  The Etame 8-H was drilled to a Measured Depth (MD) of 3196 meters and penetrated the Gamba Sand reservoir interval at 1820 meters True Vertical Depth (TVD), contacting 135 meters MD of high quality reservoir within the oil-bearing portion of the Gamba sand..... Read more »

Posted on : Saturday , 20th December 2014

 Uganda’s discovered oil reserves are estimated at 6.5 billion shillings and it is believed that if the oil is well utilized, the money from the resource could lift the country from a developing nation to middle-income status. However the country’s quest for more oil continues and now the country is considering exploration in Karamoja. The Minister of State for Minerals Peter Lokeris told journalists in Kampala on Friday 5th.... Read more »

Posted on : Saturday , 20th December 2014

 Tullow Kenya has today handed over an Kshs.18 million water project to the residents of Kataboi in Turkana North consisting of a borehole, solar powered submersible pump and a 20,000 litre storage tank.   The project is expected to benefit over 5,000 residents as well as provide water to nearby public institutions including the Kataboi health centre as well as Kataboi primary school and Kataboi girls’ secondary.... Read more »

Posted on : Friday , 19th December 2014

 The Nigerian National Petroleum Corporation’s (NNPC) monthly petroleum information reveals that the nine marginal fields produced 12. 43 million barrels of crude oil in the first eight months of 2014 which is about 2 percent of Nigeria’s total industry output.   The Petroleum Act defines a Marginal Field as “such fields as the President may from time to time identify as Marginal Fields”. This definition.... Read more »

Posted on : Friday , 19th December 2014

 KPMG has said in its Infrastructure 100 World Markets Report released recently that the $20 billion Trans-Saharan Natural Gas project would help Europe diversify supply by transporting natural gas from Nigeria, through Niger to Algeria and then northwards to Spain and Europe, The Guardian reports.   The firm notes that if built, the Trans-Saharan Natural Gas project will be one of the world’s most expensive energy export.... Read more »

Posted on : Friday , 19th December 2014

Simba Energy has said it expects to sign a contract and commence the initial 2D seismic program in the first quarter of 2015 with its technical team having finalized a program to acquire up to 400 kms of 2D seismic designed to target drilling locations on prospects and leads in two basins, and also yield volumetrics that will support revised resource estimates.   “While we have been actively negotiating with numerous parties who.... Read more »

Posted on : Friday , 19th December 2014

 China Development Bank (CDB) has extended a $2 billion line of credit to state-owned Sonangol EP to support expansion projects in Angola’s oil and gas sector.   The financing agreement was signed on Dec. 12 in Beijing, China, Sonangol said.   In addition to allowing execution of other large projects in crude oil exploration, refining, and logistics, the 10-year loan agreement, which opens prospects for other long-term.... Read more »

Posted on : Thursday , 18th December 2014

 Ivory Coast has signed production sharing agreements with oil giant Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea, the West African nation’s oil minister said.   The deal covers Ivory Coast’s CI-602 and CI-603 blocks, which cover 3,874 and 5,543 square kilometres respectively and vary in depth from 3,000 to 4,000 metres.   “The maximum exploration period is nine years for each block and,.... Read more »

Posted on : Thursday , 18th December 2014

These companies which are aggressively working towards the development of African sub continent have agreed to jointly pursue and strive towards the growth of oil and gas industry in Nigeria. Before now, GE's collaboration with Heirs Holdings was focused on the Nigerian power sector towards the expansion of the largest power station in Nigeria. The move is a clear demonstration of a new approach by multinational companies to develop meaningful.... Read more »

Posted on : Thursday , 18th December 2014

 BG Group has contracted pan-African security provider Warrior Security Company to secure its sites in Tanzania, in a partnership that has seen the 3500-strong security company extend its recruitment drive and training programme and bring innovative terms and conditions to Tanzanian security staff.   To ensure top rate security at the sites, Warrior says it has introduced higher salaries, shorter shifts, staff transport and.... Read more »

Posted on : Thursday , 18th December 2014