"Clear path to commerciality" for Senegal oil

"Clear path to commerciality" for Senegal oil

Monday, 23 October 2017 11:21

Eric Hatho...

Kosmos Energy signs three oil and gas contracts to enter Equatorial Guinea for the first time

Kosmos Energy signs three oil and gas co…

Monday, 23 October 2017 06:42

The Ministry of Mines and Hydrocarbons of Equatorial Guinea and Kosmos Energy have signed three new production sharing contracts (PSC) for Block EG-21, Block S and Block W offshore Rio...

Guidebook launched for identifying pipes in any facility

Guidebook launched for identifying pipes…

Thursday, 19 October 2017 12:26

 Pipe markers are important for improving plant safety and making a plant visually compliant

Isabel dos Santos vows to modernise Sonangol with the support of President Laurenco

Isabel dos Santos vows to modernise Sona…

Thursday, 19 October 2017 11:06

Isabel dos Santos, chairwoman of Sonangol, Angola’s national oil company since June 2016, says her plans for modernisation are part of wider reforms for the Angolan economy 

Xodus wins two offshore Senegal contracts

Xodus wins two offshore Senegal contract…

Wednesday, 18 October 2017 10:46

Abderdeen-based Xodus Group has won two contracts for conducting environmental and social impact assements (ESIA) for offshore blocks off the coast of Senegal

Ophir Energy signs second exploration contract for Equatorial Guinea oil and gas acreage

Ophir Energy signs second exploration co…

Wednesday, 18 October 2017 09:19

Ophir Energy, in partnership with GEPetrol and the Ministry of Mines and Hydrocarbons, has signed an oil and gas exploration contract for an Equatorial Guinea offshore oil and gas block

Interview: Dow Oil, Gas & Mining eyes African market with gas sweetening service

Interview: Dow Oil, Gas & Mining eye…

Monday, 16 October 2017 10:06

Adriano Gentilucci, Commercial Director, IMEA for Dow Oil, Gas & Mining, spoke to Oil Review Africa about the company's new gas sweetening service

Tullow Oil acquires 90 per cent stake in four onshore blocks, Côte d’Ivoire

Tullow Oil acquires 90 per cent stake in…

Friday, 13 October 2017 06:38

Tullow Oil plc has announced that it has acquired 90 per cent stakes in four onshore blocks in Côte d’Ivoire, while Petroci, the national oil company of Côte d’Ivoire, holds...

SDX announce gas discovery at KSR-14 development well in Morocco

SDX announce gas discovery at KSR-14 dev…

Friday, 13 October 2017 06:27

Further to the spud announcement on 18 September 2017, SDX Energy Inc., the North Africa focused oil and gas company, has announced that a gas discovery has been made at...

Oranto Petroleum signs exploration agreements for two licenses in Uganda’s Lake Albert

Oranto Petroleum signs exploration agree…

Wednesday, 11 October 2017 06:40

The production sharing agreements (PSA) comprises a first exploration period of two years followed by a second exploration period for a maximum of two years for both licenses 

Airswift opens Mauritania’s first global energy workforce solutions office

Airswift opens Mauritania’s first global…

Wednesday, 11 October 2017 06:35

Hubs in Nouakchott and Kampala bring Airswift’s total number of African offices to eight 

Sonangol releases statement on oil investment and operations after meeting President Lourenço

Sonangol releases statement on oil inves…

Tuesday, 10 October 2017 07:35

Sonangol and several oil operators, have met with João Lourenço, president of Angola, and released a joint statement identifying concerns in regard to the development of the oil sector

Eni sells 30 per cent stake in the Shorouk concession, offshore Egypt, to Rosneft

Eni sells 30 per cent stake in the Shoro…

Tuesday, 10 October 2017 06:47

Eni has finalised the sale of a 30 per cent stake in the Shorouk concession, where the Zohr gas field is located, to Rosneft

BP strengthens LNG shipping capacity

BP strengthens LNG shipping capacity

Tuesday, 10 October 2017 06:43

BP is taking delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers to support its expanding global LNG portfolio, and to respond to growing demand for lower-carbon energy sources...

Simba Essel Energy and Essel Group Middle East sign contract to commence FTG survey In Liberia

Simba Essel Energy and Essel Group Middl…

Tuesday, 10 October 2017 05:55

Simba Essel Energy Inc has advised that its partner Essel Group Middle East has signed an agreement with Bell Geospace to conduct a comprehensive airborne FTG (Full Tensor Gravity Gradiometry)...

Oil price drop impacts across central African economies: ECA

Oil price drop impacts across central Af…

Monday, 09 October 2017 07:34

The United Nations Economic Commission for Africa (ECA) has released a video about how central African economies can move forward, particularly in the context of a low oil price environment

Training academy and ship vetting study: Africa's oil refiners’ major projects

A dedicated African academy for education in the oil refining industry, and research that could result in the better vetting of ships that carry oil around African coasts are two of the ‘coming of age’ projects that have been embarked on by the African Refiners Association (ARA) which held its 5th annual conference in Cape Town recently.

 

The ARA, which was established five years ago to give the more than 40 refineries throughout the continent a single voice and presence in the international arena, has, through its concerted efforts created change in the entire industry on the continent since its inception. 

Addressing nearly 200 delegates who attended the conference at the Westin Grand Hotel, Executive Secretary of the ARA Joel Dervain said that to describe the past year as having presented difficulties was a euphemism. ‘But we are now gearing up for our new incarnation, in which we will adopt statutes to create our new identity. We are moving up a gear, and part of the transformation will be the focus on human resources training for which one of our members has taken responsibility - the establishment, by the SAMIR Refinery, of a refining academy in Morocco.’ 

Further changes involved the upgrading of non-refining Associate Members who would, as part of the transformation, also take a more active role in the affairs of the association. The Associate Members are importers, regulators and distributors of petroleum products. 

The executive committee would also be considering the proposal commissioned and completed over the past 12 months to vet the seaworthiness and suitability of the tankers that transport Africa’s oil products. The objective is to progressively bring the vessels up to an acceptable standard in line with those carrying oil product throughout the world. The project will initially focus on the Gulf of Guinea region and subsequently will be rolled out to other regions. 

The conference was marked by high-level analysis of, and forecast about the future of the industry. International industry authority Steve Terry who addressed the conference on the second day, warned that there was a global overcapacity in refining right now which might well continue for the next five years or even longer. ‘The market has fundamentally changed, from operating at high refining margins for the last few years, refineries have realised that everything has gone back to normal - which simply means you have to work harder to get the returns.’ 

Another subject that came under close scrutiny was the issue that many sub-Saharan Africa refineries’ future depended a great deal on demands by them for support from African governments. The conference found that the World Bank-International Monetary Fund policies were inconsistent between different countries, and resolved to send a delegation to Washington to address this.

Africa Oil Corp. farmout agreement with Lion Energy Corp.

Africa Oil Corp. reports that the TSX Venture Exchange has accepted for filing documentation pertaining to the August 19, 2009 farmout agreement between Lion Energy Corp. ('Lion Energy') and Africa Oil. under the farmout agreement Lion Energy has the right to earn an interest in three petroleum blocks located in the Republic of Kenya and two petroleum blocks located in Puntland, Somalia.

With regards to the three petroleum blocks located in Kenya, Africa Oil will transfer to Lion Energy a 10% interest in the Block 9 Production Sharing Agreement, a 25% license interest in the Block 10A Production Sharing Contract and a 20% interest in Block 10BB Production Sharing Contract. Under the terms of the Block 9 PSA, with the drilling of the Bogal-1 well, which is currently continuing, the Company and its partners have fulfilled and exceeded the minimum work and financial obligations of the initial exploration period. As consideration for farming into Block 9, Lion Energy has agreed to finance 33.333 per cent (to a maximum of US$5-million) of Africa Oil's obligation to pay 40% of exploration costs incurred under the JOA in respect of Block 9. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

Under the terms of the Block 10A PSC, the initial four-year exploration period expires in October, 2011, the partners are obligated to complete geological and geophysical ('G&G') operations (including acquisition of 750 kilometres of 2-D seismic) with a minimum expenditure of US$7.8-million. Additionally, the partners are required to drill one exploration well with a minimum expenditure of US$8.5-million. As consideration for farming into Block 10A, Lion Energy has agreed to finance 50 per cent (to a maximum of US$4-million) of future joint operating expenses in the performance of a seismic program. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

In accordance with the terms of the Block 10BB PSC, the initial exploration period expires in January, 2012, the partners are obligated to complete G&G operations (including acquisition of 200 kilometres of 2-D seismic and 200 square kilometres of 3-D seismic) with a minimum expenditure of US$6-million gross. In addition, the partners are required to drill one exploration well with a minimum expenditure of US$6-million. As consideration for farming into Block 10BB, Lion Energy has agreed to finance 40 per cent (to a maximum of US$6-million) of future joint operating expenses in the performance of a seismic program and drilling of one exploration well. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

Under the terms of the PSAs for the Nugaal and Dharoor blocks, located in Somalia, the partners are required to drill one exploration well in each block during each exploration period. The first exploration period expires in January, 2011, and the second optional three-year exploration period would be expected to expire in January, 2014. During the exploration period on both the Dharoor and Nugaal blocks, the partners are obligated to complete G&G operations (including geological fieldwork, geochemical surveys, reprocessing seismic). In addition, the partners are required to drill one exploration well during each of the two exploration periods, with a minimum expenditure of US$5-million during each exploration period. As consideration for farming into the Dharoor and Nugaal blocks, Lion Energy has agreed to finance 30 per cent (to a maximum of US$5.1-million) of the first US$17-million of future JOA costs incurred in drilling one exploration well on each of the Dharoor and Nugaal blocks. Lion Energy will be responsible for financing its working interest share of all other joint operating expenses.

Sunergy has formed a strategic alliance for petroleum sales in Ghana

Sunergy, Inc (the "Company") (OTC.BB:SNEY - News) has formed a strategic alliance with a Global Petroleum trader and supplier for petroleum sales in Ghana. Since 33.1 Billion barrels of proven offshore oil were discovered last year in the Gulf of Guinea of Ghana's coast, there has been a flurry of activity between Exxon and The Chinese, to name a few majors in vying for position in the famous Jubilee field. The Ghanian government's purported share of the discovery is 3.31 billion barrels (10%) over the next several years.

There is no production on stream yet, and Ghana is currently starved for both crude oil and refined petroleum products for its internal uses for business and supplies for its people. Sunergy has elected to address the immediate needs of Ghana and its small refinery and is proposing to deliver both crude oil and refined products to supply the country's petroleum fuel needs through our strategic partner who is prepared to deliver all required items upon successful completion of final documents with the appropriate parties in Ghana. This arrangement contemplates remaining in place once the Ghanian oil comes on stream.

Sunergy's role is as a partner in the strategic alliance in facilitating the Ghanian petroleum supply business and in plans to develop crude oil and other petroleum products storage facilities in Ghana.

Karl A. Baum, President, Director, said: "Thanks to our Regional Chief, Ne Ne Abiasi Agbonoo #3, we have been able to make the appropriate contacts for the initiation of the Petroleum supply business in Ghana. Another Advisor to our Company brought the Global Petroleum Trading and Supply connection, so I am proud of our Advisory team. This niche business represents substantial potential cash flow with little or no capital risk on our part. While it may seem that the petroleum supply business would be available to many potential competitors, there are inherent obstacles that only a strong financial supplier can overcome. At this time, we appear to have a solid shot at landing a minimum supply contract for 1,000,000 barrels of crude / month for the next 2 years."

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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