Africa ///

ION expands West African 2D data library with new acquisition offshore Gabon

ION Geophysical Corporation has announced a new 2D multi-client program offshore Gabon, EquatorSPAN II, in cooperation with the Gabon Ministry of Petroleum and Hydrocarbons, Direction Général des Hydrocarbures of Gabon (DGH).

Protest-hit Ethiopia region plans private oil company to calm unrest

A central Ethiopian region that’s seen almost two years of sporadic anti-government protests is planning a new private oil company and is in talks to import Middle Eastern crude, part of an economic initiative authorities say will address some of the roots of the unrest.

South Sudan Ministry of Petroleum launches open tender for petroleum audit

South Sudan’s government will commission an audit of national oil production and petroleum industry activities, the Ministry of Petroleum announced today. The Ministry invites companies to bid on a public tender to perform the audit and produce a 2017 audit report on the industry.

Investors snap up assets in a nation where defaults are rife

For a country that has missed several debt payments this year, Mozambique’s assets are performing remarkably well.

Exxon settles dispute with Chad, avoiding $74-billion fine

Exxon Mobil Corp. reached a settlement with Chad over tax payments, avoiding a $74-billion fine the Central African country had imposed on the oil major.

Sound Energy provides operational update for Morocco, Italy assets

Sound Energy, the African and European focused upstream gas company, is pleased to confirm the commencement of operations to re-enter and test the Koba-1 well at the Company's Sidi Moktar licence, onshore Morocco, and to provide a further update on the drilling of the Badile exploration well, onshore Italy.

Bissau Exploration, Petroguin to accelerate development offshore Guinea Bissau with JV

Bissau Exploration Company (BEC) has announced the signing a joint venture participation agreement between themselves and A Empresa Nacional de Pesquisa e Exploracao Petroliferas (Petroguin) for petroleum exploration, development and production in Block 4B, offshore Guinea Bissau.

OPEC's newest member urges African nations to join group, protect resources

Equatorial Guinea, OPEC’s newest member, called on fellow African producers to band together to protect the value of their oil resources and join the group.

Nigeria's Forcados oil comes back in fresh blow to OPEC cuts

Shell lifted restrictions on exports of a key Nigerian crude oil, 472 days after imposing them following militant attacks. The extra flows alone amount to about 20% of the supply OPEC has pledged to cut from world markets.

Exxon Mobil acquires exploration acreage in Equatorial Guinea

Exxon Mobil Corporation has announced that its wholly owned affiliate, Exploration and Production Equatorial Guinea (Deepwater) Ltd., has signed a production sharing contract with the government of Equatorial Guinea for a deepwater block located 36 mi west of Malabo.

Total asks to revisit South Sudan oil blocks, minister says

Total SA approached South Sudan about developing two of its biggest oil blocks after previous talks on the fields collapsed, according to the African nation’s petroleum minister.

Eni finalizes $7-billion Mozambique gas project investment

Eni SpA led a group that signed off on a $7-billion investment in a project to export natural gas from Mozambique.

OPEC insiders reel as key minister is fired during meeting

As OPEC ministers gathered in Vienna yesterday to agree a nine-month extension of their oil-supply pact, the man credited with bringing about the landmark deal learned from a news broadcast that he had been fired.

Nigerian Senate passes delayed oil industry governance bill

Nigerian senators passed a bill to reform the country’s oil and gas industry almost a decade after it was first proposed to lawmakers, Senate President Bukola Saraki said.

Equatorial Guinea to join OPEC, pledges to advance interests of African producers

Equatorial Guinea will join OPEC, it was announced at an historic meeting of global oil producers in Vienna today. The Central African oil and gas producer will be Sub-Saharan Africa’s fourth OPEC member, bringing a wealth of experience and African diplomatic reach to the global oil exporters’ club.

Serinus Energy halts production in Tunisia, as protestors block roadways

Serinus Energy Inc. has announced that it has temporarily shut-in production at Sabria field in Tunisia, due to continued social unrest in the southern part of the country.

Equatorial Guinea partners with Arabian Energy to build Bioko Oil Terminal

Following the signing of an agreement between the Government of Equatorial Guinea and Arabian Energy to work together on the Bioko Oil Terminal, the realization of the petroleum tank farm gained important momentum.

Eni starts production from Cape Three Points block, offshore Ghana

Eni has launched production from the Integrated Oil & Gas Development Project, in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, in just two and a half years, and three months ahead of schedule, reaching another record time-to-market.

Sound Energy to re-enter Kechoula discovery, onshore Morocco

Sound Energy, the African and European focused upstream gas company, is pleased to announce that the SAIPEM rig has now arrived at the Company's Sidi Moktar asset, onshore Morocco, ahead of the re-entry and testing of the Lower and Middle Jurassic in two existing wells on the Kechoula discovery.

Nigeria oil union says dispute with Exxon threatens output

Nigeria’s manager-level oil union will continue a strike indefinitely at Exxon Mobil Corp.’s local unit, threatening output after talks with the company to end the action reached an impasse, a labor official said.