Africa ///

Sound Energy completes drilling of third Tendrara well, onshore Morocco

Sound Energy, the African and European focused upstream gas company, has announced that TE-8, the third well at the Company's Tendrara licence (onshore Morocco), has now been drilled to a final target depth, at a measured depth (MD) of 3,120 m, corresponding to a vertical depth of 3,066 m, some 359 m into the Paleozoic formation.

Algeria’s Sonatrach to invest $50 billion, boost crude output

Algeria’s state-run energy producer plans to boost crude oil output by 14% in the four years to 2019 and invest billions of dollars in exploration projects.

Eni awarded two new blocks offshore Ivory Coast

Eni today announced that it has obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast. The two blocks are located approximately 50 km from the country’s coastline.

GE Oil & Gas expands global footprint with new facility in Ghana

GE Oil & Gas has opened a new facility in Takoradi Port, Ghana, expanding its global footprint and supporting local investment. The company committed to deliver more than 45,000 training hours for Ghanaian personnel over the next five years, as it seeks to build a world-class team locally.

JDR, Proserv form strategic alliance in West Africa

JDR, a supplier of subsea cables and umbilicals for the global offshore energy industry, has expanded its presence in West Africa through a partnership agreement with Proserv Instrumentation Nigeria Ltd.

Mozambique sees capital gains of $350 million on Exxon deal

Mozambique said Exxon Mobil Corp.’s acquisition of a 25% stake in an offshore gas block from Eni SpA will generate capital gains revenue of $350 million.

Libya's oil output rebounds, nearly matching levels prior to clashes

Libya’s oil production has climbed to almost match the level before clashes disrupted output three weeks ago and forced the OPEC nation’s two biggest oil ports to halt shipments.

TechnipFMC awarded an onshore contract in Ghana

TechnipFMC has been awarded a contract by ENI Ghana E&P Limited (a subsidiary of ENI, GNPC and Vitol), for the onshore part of the OCTP(2) development of Sankofa field, offshore Ghan

South Sudan, Equatorial Guinea to collaborate on African oil and gas

South Sudan and Equatorial Guinea announced an historic partnership today in Juba, setting out the terms for a strong bilateral relationship between the African oil and gas producers.

SDX Energy commences drilling at South Disouq, Egypt

SDX Energy Inc., the North Africa focused oil and gas company, has announced the commencement of drilling operations on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt.

CNOOC exercises pre-emption rights in Tullow’s Uganda farm-down

CNOOC Uganda Limited has notified Tullow that it has exercised its pre-emption rights under the joint operating agreements between Tullow, Total and CNOOC to acquire 50% of the interests being transferred to Total on the same terms and conditions that were agreed between Tullow and Total.

Nigeria’s Aiteo Group achieves 90,000-bopd output rate in one year

Integrated energy group Aiteo has announced a peak production of 90,000 bopd just one year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil block OML 29.

Regional Report: East Africa

Emily Querubin, World Oil

Recovering from a six-year drilling low that was reported last May, African E&P is slowly picking up the pieces. The region has seen numerous setbacks, despite having the potential to become one of the leading oil and gas producers and exporters in the world. Much of East Africa is riddled with severe debt and economic unrest, impeding investment and the development of infrastructure.

Exxon Mobil to buy stake in Mozambique block from Eni for $2.8 billion

Exxon Mobil said it will buy a 25% stake in a project off Mozambique from Italy’s Eni SpA for about $2.8 billion as the U.S. oil giant expands in natural gas.

Chevron starts production at Mafumeira Sul, offshore Angola

Chevron Corporation announced today that its subsidiary, Cabinda Gulf Oil Company (CABGOC) Limited, has commenced oil and gas production from the main production facility of the Mafumeira Sul project, offshore Angola.

Nigeria to cut stake in oil assets under Buhari's economic plan

Nigeria will sell portions of its oil assets to help fund President Muhammadu Buhari’s four-year plan to lift the economy from its worst slump in a quarter century and create 15 million jobs.

Cairn releases well results of appraisal well, offshore Senegal

Cairn is pleased to announce the results of the SNE-5 appraisal well offshore Senegal, where operations have been safely and successfully completed ahead of schedule and under budget, following drilling, logging, drill stem testing and the setting of pressure gauges.

Oranto launches $500-million oil exploration campaign in South Sudan

Oranto Petroleum will invest $500 million to develop South Sudan’s Block B3, launching a comprehensive exploration campaign starting immediately. The Ministry of Petroleum and Oranto Petroleum Company, South Sudan signed the exploration and production sharing agreement for the block today in Juba.

Bowleven and Victoria Oil & Gas agree to Bomono farm-out

Bowleven plc, the Africa focused oil and gas exploration group and Victoria Oil & Gas Plc, an integrated energy company with operations in Cameroon, both trading on AIM, are pleased to announce that they have signed a farm-out agreement relating to the Bomono production sharing contract (Bomono PSC).

Libya's largest oil port seized in blow to production surge

Libya’s biggest oil port was seized by an armed group, dealing a blow to the North African country as it seeks to revive production of its most important commodity. Brent crude futures climbed.