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Africa

Total drilling for oil in world’s fastest ocean

26/03/2019

Total SA’s discovery of South Africa’s first oil in deep water could prove to be a bonanza for a country lacking crude reserves of its own and prompt a rush from other majors. That’s if they’re able to solve the engineering challenges of operating in one of the fastest ocean currents in the world.

Africa

Eni reveals major oil find off Angola

13/03/2019

Italian oil firm Eni today announced a major discovery off Angola. The Agogo discovery is thought to hold 450-650 million barrels of oil. The well was drilled by the Poseidon drillship. Agogo follows other commercial discoveries at Kalimba and Afoxé. Eni operates the block with a 36.8% stake. Its partners are Sonangol and SSI Fifteen.

Africa

Oil and gas investment landscape in Nigeria

08/02/2019

Nigeria is the largest economy in Africa and one of the most popular sub-Saharan states to have received foreign investment from European, US and Chinese investors over recent years. It is one of the world’s larger oil producing countries, with daily production of nearly two million barrels, more than twice that of the UK. It has been a member of the Organisation of Petroleum Exporting Countries (OPEC) since 1971.

Africa

Abubakar to divest Nigeria’s ‘mafia’ oil firm if he wins

16/01/2019

Nigeria’s main opposition presidential candidate, Atiku Abubakar, said he’ll sell the state oil company, which he called a “mafia organization,” and attract private investors to drive economic growth and create jobs if he wins office next month.

Africa

Trio of explorers aim to hit East Africa gas jackpot again

29/11/2018

A trio of oil executives who hit the jackpot with a gas find off Mozambique have long believed they can repeat that success not far from their original discovery. Now financial backing from seasoned Africa explorer Tullow Oil Plc has given them the firepower to take another shot.

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