Global oil and gas investments to hit $628 billion in 2022 led by upstream gas and LNG, Rystad Energy
Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant.
Invictus Energy confirmed it has secured the necessary casing, wellheads and ancillary long lead items for a 2-well drilling campaign at Cabora Bassa, Zimbabwe, commencing in May 2022.
Kenya Electricity Generating Company PLC (KenGen), has completed Phase One of the 25 acres Ngong Forest Restoration Project.
Eni has been awarded five new exploration licenses by the Egyptian Ministry of Petroleum. The licenses, four of which as Operator, are in the Egyptian offshore and onshore.
The Federal Government, in collaboration with Morocco and Jigawa State government, is working towards providing solar powered Initiatives for enhancement of solar power energy.
SDX Energy, the MENA-focused energy company, announced the completion of drilling at the MSD-21 infill development well on the Meseda field in its West Gharib concession, Egypt, where SDX has 50% working interest.
In its research, OBG surveyed executives based across the economic sectors, with financial services and energy highest in terms of representation.
Nigerian energy-industry leaders have been reminiscing lately about the country’s earliest efforts to develop marginal oil and gas fields.
TransGlobe announces ratification of consolidated and amended Eastern Desert Production Sharing Contracts in Egypt
TransGlobe Energy announced it received notification that its agreement with the Egyptian General Petroleum Corporation (EGPC) to merge, amend and extend its three existing Eastern Desert concessions, has been ratified into Egyptian Law.
Sirius, the Africa focused oil & gas production and development company announced it has executed a legally binding Master Services Agreement (MSA) with Baker Hughes relating to the development of OML 65 onshore Nigeria.
Genel Energy announced it has signed a farm-out agreement relating to the SL10B13 block, Somaliland, with OPIC Somaliland Corporation (OSC), with all its share of future capital investment coming from CPC Corporation, Taiwan.
In a significant increase in its financing operations, Jeddah-based AAA rated Islamic Development Bank (IsDB), approved $1.6 billion to finance 24 new development projects in 19 member countries located in Asia, Africa and Europe.
To help improve access to certified green homes in South Africa, IFC and Nedbank have announced the issuance of a green residential development bond under Nedbank's domestic medium-term note program, with IFC as the anchor investor.
The Chief Executive Officer of Sonatrach, Toufik Hakkar and the Chief Executive Officer of Eni, Claudio Descalzi signed a new oil contract related to the onshore Berkine basin area, where Eni has been a leader since 1981.
Chariot, the Africa focused transitional energy company, announced that the Stena Don drilling rig has now arrived on location in the Lixus licence, offshore Morocco, to carry out drilling operations on the Anchois gas development project.
Wildcat Petroleum (WCAT), a company targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, has appointed Striped Horse Resources (SHR) as consultants.
QatarEnergy entered into agreements with Shell to acquire working interests in two offshore exploration blocks in the Egyptian side of the Red Sea.
TotalEnergies finalizes divestment of interests in non-operated assets and Cap Lopez Terminal in Gabon
After receiving the approval of Gabonese authorities, TotalEnergies has announced the closing of its agreement to divest to Perenco Oil and Gas Gabon the Cap Lopez Terminal and non-operated assets of its 58%-owned affiliate TotalEnergies EP Gabon.
Butane Energy Limited, one of the gas based business supported with equity investment by the Nigerian Content Development and Monitoring Board (NCDMB) has opened its 100 metric tonnes Liquified Petroleum Gas (LPG) Storage and Bottling Plant in Kabukawa layout, Kastina State.
PetroNor announced that 1.88 mmbo of net contingent resources are being transferred to reserves increasing PetroNor’s proven plus probable reserves from 20.2 mmbo to 22.1 mmbo at the PNGF Sud in Congo Brazzaville.
Chevron’s affiliate in Angola, Cabinda Gulf Oil Company (CABGOC), announced the successful extension of the Block 0 concession, off the coast of Cabinda province, in Angola.
TotalEnergies, operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency (ANPG) announced the start of production of CLOV Phase 2, a project connected to the existing CLOV FPSO.
Africa Data Centres has selected Distributed Power Technologies (DPT) to provide renewable energy and storage solutions for its data centres across South Africa.
Africa-focused oil and gas company Aminex announced that the first phase of the 3D seismic project has commenced on the Ruvuma PSA in Tanzania.
French major TotalEnergies has commenced drilling its ultra-deep Venus-1 well in the Orange Basin offshore Namibia. On-trend, Pancontinental has mapped the very large Saturn turbidite complex in PEL 87.
[Column] NJ Ayuk: Oilfield services companies represent important opportunities for Africa’s energy sector in 2022
Oil and gas in Africa especially the central African region is just starting to hit its stride, OPEC Secretary General H.E. Mohammed Barkindo, told a meeting of major oil companies a few months ago, and the future is especially bright in sub-Saharan Africa.
[Tanzania] Tech Mahindra partners with TANESCO to drive digital transformation and improve efficiency
Tech Mahindra, a provider of digital transformation, consulting and business re-engineering services & solutions, has partnered with Tanzania Electric Supply Company Ltd. (TANESCO) for one of the biggest Utility Transformation deals.
Impact Oil & Gas, a privately-owned, African-focused, exploration company, announced the spud of the Venus-1X offshore exploration well in Namibia Block 2913B (PEL 56).
PetroNor announced that the company and Panoro Energy have agreed on a further extension of the completion long-stop date for the previously announced purchase of Panoro’s fully-owned subsidiaries.
The multi-year agreement will focus on the supply of offshore containers and supplementary services to support the developing energy market in Ghana.
Zenith Energy, the Africa focused production and development energy company, announced it has entered into an Option Agreement with Noble Hill-Network Limited, a private Nigerian oil and gas company.
Sound Energy, the Moroccan focused upstream gas company, announced it has entered into a binding gas sale and purchase agreement in respect of the Phase 2 development of the Tendrara Production Concession with ONEE.
Eni and Snam have entered into an agreement for the sale by Eni to Snam of a 49.9% stake (directly and indirectly owned) in certain companies operating two groups of international gas pipelines connecting Algeria to Italy.
Electricity demand hits new record high driven by green energy in the wake of post-COVID-19 recovery
The demand for electricity in Kenya hit a new record this week rising to a peak of 2,036MW, the highest ever recorded in history, marking a significant resurgence in demand since the onset of the COVID-19 pandemic in March 2020.
Perth-based energy exploration company Kinetiko Energy announced it has commenced drilling the second of three wells on the Korhaan Project in South Africa.
Increasingly this year, African oil- and gas-producing nations are being told that protecting the planet from climate change will come at the cost of their petroleum industries.
Tech Mahindra, a provider of digital transformation, consulting and business re-engineering services & solutions, has partnered with TANESCO to enable digital transformation to support future ready applications.
Pharos Energy, an independent oil and gas exploration and production company, announced a return to drilling in its El Fayum Concession in Egypt, with the commencement of an interim three-well development programme.
Zenith Energy announced that Zenith Overseas Assets Holdings (ZOA), its fully owned subsidiary, has entered into a share purchase agreement for the acquisition of a 100 percent of Canadian North Africa Oil & Gas.
The facility provided by Afreximbank to Geometric Power Limited will finance the initial capital required to acquire rights to the Aba Ring Fenced Area.
L'AfDB et le Madagascar signent des accords de 36,5 millions d’euros pour des réseaux de transport d’électricité
Le Groupe de la Banque africaine de développement et le gouvernement de Madagascar ont signé des accords de financement de 36,48 millions d’euros pour le renforcement et interconnexion des réseaux de transport d’énergie électrique à Madagascar.
United Oil & Gas announced the spudding of the Al Jahraa-13 development (AJ-13) well in the Abu Sennan licence, onshore Egypt.
Afreximbank signs $1.04b deal with Nigerian National Petroleum Corporation to finance exploration of petroleum
The African Export-Import Bank (Afreximbank) signed a $1.04 billion facility with the Nigerian National Petroleum Corporation (NNPC) to finance the exploration of petroleum.
Eni, as the Delegated Operator and on behalf of its Area 4 Partners, held the naming and sail away ceremony of the Coral-Sul FLNG, the first floating LNG facility ever to be deployed in the deep waters of the African continent.
PXGEO has been awarded a project in the Egyptian Red Sea to commence in November 2021 with an approximate duration of four months and will be acquired by seismic vessel PXGEO 2.
Tullow exercises pre-emption right of Deep Water Tano component of Kosmos Energy/Occidental Petroleum Ghana transaction
Tullow Oil announced it has exercised its right of pre-emption related to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy.
National Bank of Kuwait - Egypt (NBK-Egypt) has provided a finance of EGP 850 million to Madkour for Projects Company, one of the national companies in the field of energy and infrastructure projects, for the purpose of carrying out the works assigned to the company by the Ministry of Housing.
Building on the success of Shell Nigeria Gas, Shell Energy Nigeria, aims to deliver competitive and reliable energy for power generation and industrial users and to develop gas distribution to serve people in new regions.
Oil and gas exploration and production company Maurel & Prom and the Gabonese Republic have entered into a multi-pronged comprehensive agreement with a view to strengthening their cooperation.
With dire warnings about the impending dangers of climate change clouding the headlines on a daily basis, energy transition from fossil fuels to renewables is a hot topic.
Access to affordable, reliable and environmentally sustainable sources of electricity is a pressing issue for the growing number of Data Centre operators across Africa.
Kenya-based electric mobility startup Opibus has raised US$7.5 million in equity and grant funding, the largest ever in an electric mobility company in Sub-Saharan Africa.
Invictus Energy announced that its 80% owned and operated Cabora Bassa 2021 seismic survey (CB21 Survey) project in Zimbabwe has been completed with a total of 839.5 km of high resolution 2D seismic data acquired.
Diversified chemicals company Omnia Holdings (Omnia) and minority shareholder Autumn Storm have negotiated a deal to sell a majority stake in Umongo Petroleum.
Savannah Energy, the African-focused British independent energy company, announced that its Accugas subsidiary has commenced gas sales to First Independent Power Limited's ("FIPL") power plant, FIPL Afam, in Nigeria.
TGS, a global provider of energy data and intelligence, announced a new 3D seismic survey in the Red Sea, Egypt, in partnership with Schlumberger.
PetroNor and Panoro have agreed on a further extension of the completion long-stop date for the purchase of Panoro’s fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum Aje in Nigeria.
Pharos Energy, an independent oil and gas exploration and production company, announced Egyptian Cabinet approval of the Third Amendment of its El Fayum Concession Agreement.
VAALCO Energy announced it has completed two workovers at the Etame field offshore Gabon and added a total of approximately 1,050 gross barrels of crude oil per day.
Sound Energy and Afriquia Gaz announced they have agreed an extension to the period during which the contractual conditions precedent to the Phase 1 LNG Sale & Purchase Agreement in Morocco.
Zenith Energy announced that a flow rate of 124 barrels of oil per day has been recorded from well Robbana-1 well (ROB-1), located within the Robbana concession in Tunisia.
Africa Oil Corp. (Africa Oil) announced its investee company Prime Oil and Gas Cooperatief UA (Prime), has successfully signed and closed a pre-export finance facility (PXF Facility).
Eni announced new discoveries in Meleiha and South West Meleiha concessions, in the Western Desert of Egypt. Preliminary estimates of the resources associated to these new discoveries are at 50 Mboe of hydrocarbon in place.
INPEX, Japan’s exploration and production (E&P) company, announced it has sold all its shares in Teikoku Oil (DR Congo), a subsidiary, to Perenco Energies International, thereby divesting all its interests in the Offshore DR Congo Block (the Block).
Chariot, the Africa focused transitional energy company, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with an international energy group (the “Parties”), for Anchois Gas Development offshore Morocco.
The Gambian Ministry of Petroleum and Energy announced it will be opening a mini-licensing round for Block A1 at Africa Oil Week on 8 November 2021, following the success of the licensing round for drill sites in 2018.
Valaris announced it has been awarded a two-year contract with Esso Exploration Angola, an affiliate of ExxonMobil, offshore Angola for drillship VALARIS DS-9.
By bringing attention to the individuals driving Africa’s energy growth, the recently launched ‘State of African Energy 2022 Outlook’ aims to highlight the expectations for 2022 across the continent.
Reconnaissance Energy Africa (ReconAfrica) and its joint venture partner NAMCOR (the state oil company of Namibia), announced the completion of the first seismic acquisition program ever conducted in the Kavango Basin, North East Namibia.
Zenith Energy, which is focused on building a production and development portfolio in Africa, announced that the workover of the Robbana-1 well (ROB-1), located within the Robbana concession in Tunisia has been successfully completed.
Decklar Resources announced the commencement of completion operations for the Oza-1 well re-entry in Nigeria.
ITFC signe un accord de financement de 100 millions d’Euros pour soutenir le secteur sénégalais de l’énergie
ITFC signe un accord de financement de 100 millions d’Euros avec la SENELEC pour l'achat de produits pétroliers raffinés et aura donc un impact direct sur la production, la transmission et la distribution d'électricité à travers le pays.
Kinetiko Energy has been in the process of negotiations with a number of drilling and related contractors in both South Africa and Botswana and has completed an engagement with Torque Africa Exploration to drill on the Korhaan project.
Shearwater GeoServices announced the award of a 3D seismic survey contract for acquisition in South Africa.
PetroNor, the independent oil and gas exploration and production company with a focus on sub-Saharan Africa, announced it has received, from the Government of The Gambia, a one-year extension to the Longstop date of the A4 Licence.
Shearwater GeoServices announced the commencement of a 4D monitor survey for Total Angola.
TotalEnergies Angola has exercised an option for the 7th generation drillship Maersk Voyager to drill the ultra-deepwater Ondjaba-1 exploration well in Angola’s Block 48.
Occidental, an international energy company announced it has agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy ($550 million) and Ghana National Petroleum Corporation (GNPC) ($200 million).
Fugro has been awarded by Saipem a monitoring contract to support the construction of a liquid natural gas (LNG) jetty for BP’s Greater Tortue Ahmeyim field offshore Senegal/Mauritania.
BW Energy announced it has been provisionally awarded operatorship of two blocks in the 12th Offshore Licensing Round in Gabon. The award by the Direction Generale des Hydrocarbures (DGH) in Gabon is subject to finalising the PSC with the DGH.
The Senegalese government has introduced a domestic-approach to energy sector development, placing local content as a key driver of industry success.
Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 percent in 2021. This is one percent higher than the April 2021 forecast according to the latest edition of Africa Pulse.
Dana Gas announced that its 9M 2021 collections from the Kurdistan Region of Iraq (KRI) and Egypt have increased 102% year-on-year to $256 million (AED 938mm) from $127 million (AED 466mm) in the same period the previous year.
Global innovation platform Plug and Play is partnering with the Egyptian Information Technology Industry Development Agency (ITIDA), to launch an Open Innovation Hub in Cairo.
Angola has signed a Memorandum of Understanding (MoU) with Sun Africa and U.S.-based AfricaGlobal Schaffer for a $1.5 Billion mini-grid project to supply solar electricity and drinking water in Angola.
ReconAfrica and its joint venture partner NAMCOR (the state oil company of Namibia) announced the Ministry of Mines and Energy has granted approval of a one year extension on the First Renewal Period from 29 January 2022 to 29 January 2023.
PGS has 3D seismic data acquired in partnership with Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), covering most of the available opportunities in the Angola 2021 bid round for offshore Kwanza and Lower Congo Basin.
Eni started production from Cabaça North development project, in Block 15/06 of the Angolan deep offshore, via the Armada Olombendo Floating Production Storage and Offloading (FPSO) vessel.
Shell completes sale of Western Desert assets in Egypt to Cheiron Petroleum Corporation and Cairn Energy
Shell Egypt N.V. and Shell Austria GmbH, subsidiaries of Royal Dutch Shell (Shell), have completed the sale of their upstream assets in Egypt’s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy.
Africa-focused oil and gas company Aminex announced that the Ruvuma joint venture has awarded the seismic acquisition contract to Africa Geophysical Services (AGS).
Chariot signs well services contract with Halliburton for Anchois gas appraisal well offshore Morocco
Chariot, the Africa focused transitional energy company, announced it has signed a binding letter of intent with Halliburton, for services on Chariot’s planned Anchois gas appraisal well within the Lixus licence, offshore Morocco.
Nigerian fintech startup Infibranches secures $2m funding from All On to drive growth in the renewable energy sector
Shell-funded impact investment company All On announced a $2 million investment in fintech company, Infibranches Technologies, to help bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria.
U.S. Development Finance Corporation (DFC), has invested $10 million in Nithio's Financial Intermediary, Nithio FI, an AI-enabled clean energy financing platform, to scale clean energy financing in Africa.
Technip Energies and National Petroleum Construction Company, NPCC, a subsidiary of National Marine Dredging company, have signed an MoU to advance energy transition in the UAE and countries in the MENA region.
[South Africa] Sasol, Haldor Topsøe expand G2L licensing collaboration to grow sustainable synthetic fuels and chemicals globally
Haldor Topsøe and Sasol have expanded their G2L collaboration to jointly license and develop their technologies for sustainable liquid fuels and chemicals production through Fischer-Tropsch (FT) technology.
African Development Bank’s SEFA provides $1 million to kick off modernization of Africa’s Hydropower Fleet
The Sustainable Energy Fund for Africa (SEFA) has approved a $1 million grant for modernization of Africa’s aging hydropower fleet.
The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral development bank, unveiled its new ESG policy framework to support energy transition in its member countries and beyond.
[Burundi] Une usine de briquettes renforce la résilience et la cohabitation dans un camp de réfugiés
Sous l’impulsion du gouvernement du Burundi, le Haut-commissariat des Nations unies pour les réfugiés (HCR) promeut l’utilisation de briquettes comme source d’énergie alternative et durable pour la cuisson.
Kenya Electricity Generating Company PLC (KenGen) has been cleared to sell an equivalent of 4.6 million tonnes of carbon emissions earned over the last 18 months.
Pharos Energy announced that Pharos Group has entered into conditional agreements for the farm-out and sale of a 55% working interest and operatorship in each of the Egyptian El Fayum and North Beni Suef Concessions to IPR Lake Qarun Petroleum Co.