Africa

Africa

Three workers kidnapped in Nigeria

14/04/2015

French company Bourbon said three of its crew members were kidnapped from a crew boat off the coast of Nigeria. The incident happened on the Surfer 1440 after pirates boarded the vessel on April 8. A spokesman for the company said:"The 3 crew members of Nigerian nationality have been kidnapped. An emergency unit based in Nigeria has been immediately activated.

Oil & Gas

Expert help for African industry

17/03/2015

Scotland’s oil and gas industry is going on a trade mission to Africa this week in answer to a call for support from a former president of Mozambique. The east African nation and its neighbour Tanzania have some of the largest offshore gas fields in the world, but with no local supply chain and a lack of skilled workers, they are ill-equipped to recover the hydrocarbons. Operators in East Africa, including Anadarko, ENI, BG, Shell and Petrobras, are prepared to step in and spend about £1.35billion on developing the fields, believed to contain 150trillion cubic feet of gas.

Africa

Victoria subsidiary completes African work earlier than expected

09/03/2015

Victoria Oil and Gas (VOG) says wholly-owned subsidiary Gaz du Cameroun (GDC) has issued completion certificates to ENEO Cameroon, Cameroon's power utility company, for all pipeline construction work and pressure reduction and metering facilities at two power stations in the port-city of Douala. The work has been completed ahead of the scheduled March 15 target date and GDC is ready to connect to the gas-fired electricity generations sets that are being installed by equipment partner Altaaqa Alternative Solutions Projects.

Africa

Victoria Oil and Gas complete Cameroon pipelines

19/01/2015

Victoria Oil and Gas said Gaz Du Cameroun (GDC) has completed laying pipeline to the boundaries of the ENEO Power Station at Bassa and Logbaba. The 20 MW Bassa Power Station is located a short distance from the company’s operating northern pipeline.

Africa

Guard of Libyan oil ports calls in strikes on Islamist militias

30/12/2014

Libyan oil production has fallen below 300,000 barrels a day after Islamist militants shifted attacks to energy facilities including the country’s largest oil export terminal, said Energy Aspects Ltd. Output is the lowest since May and down at least 65% from a recent high of 850,000 barrels a day in October following the assault on the Es Sider terminal, according to the Energy Aspects estimate. Libya holds Africa’s largest oil reserves. The fighting last week marked a turning point in the unrest that followed Muammar Qaddafi’s 42-year rule, according to Energy Aspects and Eurasia Group consultants.

Africa

Fires put out at three oil tanks at Libya’s Es Sider Port

29/12/2014

Libya extinguished fires at three of five oil-storage tanks that started last week at its largest oil port, helping global crude prices to stabilize. Libya is still seeking international assistance because of possible environmental damage, said Ali al-Hasy, a spokesman for the Petroleum Facilities Guard, part of the internationally-recognized government of Prime Minister Abdullah al-Thinni. Es Sider has tanks with a capacity of 6.2 million barrels of oil, compared with current Libyan output of 352,000 barrels, according to National Oil Corp.

Africa

Oil rebounds as Libyan conflict offers relief from glut

29/12/2014

Oil advanced for the first time in three days amid speculation that an escalating conflict in Libya will help ease a global supply surplus that’s driven crude into a bear market. Brent futures rose as much as 1.6% in London. Fires have been extinguished at three of five tanks at Es Sider, Libya’s largest oil port, which were set ablaze after an attack by militants, said Ali al-Hasy, a spokesman for the Petroleum Facilities Guard. Algerian Energy Minister Youcef Yousfi called on the Organization of Petroleum Exporting Countries to cut output to boost prices.

Africa

Chariot farm-out deal gets Moroccan approval

24/12/2014

A farm-out agreement between Chariot Oil and Gas and Woodside has been approved by the Moroccan Authorities. The company made the deal earlier this year with Woodside who committed to pay 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot. A spokesman said a substantial part of the funds had been received bringing its estimated cash balance to $52million.

Oil & Gas

Libyan Islamists pushed back from attack on oil ports

23/12/2014

The force defending oil ports in eastern Libya pushed back an onslaught that Islamist militias had started 11 days ago to capture the facilities. “We pushed them back and it’s we who are now attacking them,” Ali al-Hasy, a spokesman of the Petroleum Facilities Guard, said by phone from Es Sider, Libya’s largest oil port. “The oil ports are safe and they suffered no damage. All the fighting took place well outside the ports.”

Africa

OPEC oil market defence eludes Libya as production drops

23/12/2014

Fighting in Libya that’s pushed oil production below consumption in the holder of Africa’s largest reserves is a reminder that not all OPEC members are in a position to defend market share by maintaining output. As Iraq plans to boost supplies next year amid repeated pledges by Saudi Arabia and the United Arab Emirates to keep pumping the same amount of crude, Libya’s National Oil Corp. said output has dropped to a “very low point.” Conflict between the government and Islamist militias has spread to the region of Mellitah, where the country’s fourth-largest oil port is located, after disrupting two other export terminals, according to the state-run company.

Africa

Libya oil production drops as fighting spreads to port

22/12/2014

Libya’s oil output fell below its own consumption as fighting spread to Mellitah, a region that hosts the country’s fourth largest oil port, the state petroleum company said. National Oil Corp. already this month declared force majeure at two export terminals, Es Sider and Ras Lanuf, after an attempt by Islamist militias to capture them. Force majeure is a legal status that protects a company from liability when it can’t fulfill a contract for reasons beyond its control.

Oil & Gas

Former Clinton ambassador appointed to renewables role

20/11/2014

Renewable energy project developer One Plant Africa has appointed a former ambassador during the Clinton administration to its company’s board. Ambassador Charles R Stith is considered to be one of America’s leading experts on development issues in Sub-Saharan Africa. The company is a subsidiary of One Planet Infrastructure, a US-based developer which specialises in renewable energy and infrastructure projects in developing countries.

Market info

Tullow Oil reviews assets in ‘challenging’ environment

12/11/2014

Tullow Oil said it will focus the majority of its exploration and appraisal expenditure in its East and West African assets. The company released an interim management statement which said it was looking to re-allocate capital as a result of recent oil prices and reduced commercial success from offshore drilling. The TEN development project, Jubilee production and the non-operated West Africa portfolio is expected to generate “significant value”, attracting the greatest share capital in 2015.

Oil & Gas

Ophir Energy announce gas discoveries in Africa

02/10/2014

UK-based oil and gas explorer Ophir Energy has announced gas discoveries in its Kamba and Fulusi prospects of 1.03 trillion cubic feet (tcf) in Tanzania. This latest finds, combined with recent volume updates on the earlier discoveries, increases estimates of the total Block 1, 3 and 4 mean (2C) recoverable resources to 17.1tcf.

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