Africa Energy announces start of seismic operations offshore South Africa
Friday, 13 December 2019 09:36
Friday, 13 December 2019 09:36
Thursday, 12 December 2019 08:02
Petrofac’s Engineering and Production Services division (EPS) has signed a well management contract under Maersk Drilling’s master alliance agreement with Seapulse Ltd, an exploration company
Thursday, 12 December 2019 05:00
Schlumberger and Dataiku have entered into a technology partnership that will enable the E&P industry to build and deploy their own artificial intelligence (AI) solutions across the full breadth of...
Wednesday, 11 December 2019 06:26
French major Total and Libya’s National Oil Corporation (NOC) have signed an agreement to implement Total’s participation in the Waha concessions, located in the Sirte Basin in Libya
Thursday, 05 December 2019 06:30
Tendeka, an independent completions service company, has launched a new single trip sand control solution to address the issue of sand control failure in wells
Wednesday, 04 December 2019 08:44
In its latest African Energy Outlook 2020, the African Energy Chamber (AEC) has called for sustained fiscal reforms to attract capital and technology into exploration in the continent
Wednesday, 04 December 2019 06:28
Vaalco Energy, an exploration company focused on West Africa, has completed the Etame 9H development well offshore Gabon
Wednesday, 04 December 2019 06:01
Gardner Denver Petroleum & Industrial Pumps (P&IP), the leading total solutions provider for the drilling, well servicing and frac pumps market, has introduced the new Thunder 5,000 HP Quintuplex pump
Tuesday, 03 December 2019 06:31
Drone makers are collaborating with oil and gas companies to develop custom drones with data collection technology to obtain real-time insights, according to data and analytics company GlobalData
Monday, 02 December 2019 10:00
Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima has revealed several capital-intensive projects as part of Equatorial Guinea’s upcoming 2020 Year of Investment initiative
Monday, 02 December 2019 06:30
Data and analytics company GlobalData has identified a number of multinational companies, including BP, Shell, Chevron and Equinor, as leaders in harnessing the digital oilfield technologies
Friday, 29 November 2019 10:49
Latest advancements in sensing and imaging technologies are enabling drones to be deployed in a wide range of settings in the oil and gas industry, according to data and analytics...
Friday, 29 November 2019 10:22
The National Electricity and Gas Company of Algeria (Sonelgaz) and Equatorial Guinea’s National Gas Company (Sonagas) have signed a memorandum of understanding (MoU) on enhanced cooperation in the field of...
Thursday, 28 November 2019 06:00
GlobalData’s latest thematic report, ‘Data Centres in Oil & Gas’, shows how oil and gas companies are leveraging cloud-based data centres as an alternative to traditional data centres as it...
Wednesday, 27 November 2019 08:51
The African Development Bank Group (AfDB) has approved a long-term senior loan of US$400mn to support the construction of an integrated LNG plant, including a liquefaction facility in Mozambique
Wednesday, 27 November 2019 05:35
Equatorial Guinea has signed a strategic partnership and cooperation agreement with energy and commodities company Vitol for the development of the country’s gas megahub in Punta Europa
Speaking to Oil Review Africa at the Africa Power & Oil Investment Forum, held in London this week, George Okley, director, upstream petroleum, for the ministry said a schedule is in place with licenses expected to be negotiated and awarded by March or April 2019. The ministry is currently in the preparation stage for the licensing round with promotional activities scheduled for September and October 2018. Mr Okley said a roadshow, including London and Houston, would be part of the promotional stage, with invitations to bid to be sent in November for a December pre-qualification deadline. Pre-qualified bidders will have to then submit applications in January 2019 for evaluation in February. A commitment to meeting Ghana's local content laws will be looked upon favourably during the process, Mr Okley said.
"We are trying to do online as much as possible," said Mr Okley of the bidding process.
The six blocks range in size from 1,000 to 1,500 square kilometres in the Western Basin. Two of the blocks are ultra-deepwater, at 3,000-4,500m. Mr Okley said that 2D and 3D seismic data was taken in the blocks between 2000 and 2013 with very promising interpretations indicating "mostly oil". Additionally, he said that existing pipeline infrastructure will make the blocks "attractive" to bidders. He is expecting bids from companies such as Tullow, Shell, Chevron, as well as major Chinese and Indian players and "a mix of joint ventures" could dominate the successful bids.
Several factors were cited by Mr Okley as good reasons for the timing of this licensing round. These factors included the Jubilee field passing its peak production levels, hence the ministry seeking out new hydrocarbons opportunities and new partners; the improved oil price; and the successful resolution of the maritime border dispute with Cote d'Ivoire.
Last Updated: Monday, 14 May 2018 14:01
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