RoyalGate seeks arbitration over Africa Oil award
RoyalGate Energy has informed Equatorial Guinea that it intends to begin arbitration over Block Z, alleging “material breaches” from the Ministry of Mines and Hydrocarbons.
Africa Oil
Africa Oil sets out company transformation via the Orange Basin
“The reason we wanted to stay in is in the southern part of the block.” The operator is acquiring 3D seismic on the area, he said, backing up existing 2D seismic.
Africa Oil rides expectations with drilling in Namibia, Nigeria
FEED work “could facilitate” a final investment decision (FID) on Preowei, Africa Oil, said.
Africa Oil increases Orange Basin stake ahead of drilling programmes
“At least three exploration wells offshore the Northern Cape province will be drilled in 2024 to prove the petroleum resource potential in the Orange Basin.”
Keith Hill steps down from Africa Oil top job
The incoming president and CEO said he was happy to join Africa Oil, “a company that has grown significantly in the last few years with an excellent opportunity set and material catalysts for shareholder value creation”.
Africa Oil refinances, but local concerns continue at OML 130
Africa Oil bought a 50% stake in Prime in January 2020 for $519.5mn. It has taken $712.5mn in dividends from the company, recovering its investment in under three years.
Africa Oil, TotalEnergies walk away from Lokichar licence
Africa Oil did extract value from its Kenyan finds in 2016, though, with a partial sale to Maersk Oil, under which it received $427mn.
Impact raises cash to stay in the game offshore Namibia
Total spudded the Venus-1A well on March 4. It will also re-enter the original discovery and test both wells.
Africa Oil marks new country entry with eye on infrastructure
Africa Oil said the block contains a number of gas-prone prospects in water depths of less than 80 metres. Crucially, it is close to existing infrastructure, including the Alba gas field and the Punta Europa LNG plant.
Conversion of OML 130 could trigger FID from Total at Preowei
Partners in Nigeria’s OML 127 and 130 continue to work on conversion to new terms – with success potentially triggering approval for the Preowei discovery.
Africa Oil sees progress looming in Nigeria, Kenya
Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.
Lundin legend Lukas passes away
Lukas Lundin, of the Lundin Group, has died at the age of 64 after a two-year struggle with brain cancer.
Eco continues acquisition spree with South Africa deal
Eco Atlantic Oil & Gas has struck a deal to buy another 6.25% stake in a South African block, while also raising $12.3 million.
Exploration is back on the menu in Africa, with big finds and strong prices
Exploration is back, emissaries of some of the world’s top oil companies have said, with Africa in a strong position to meet new demand.
TotalEnergies readies for Nigeria drilling
TotalEnergies is in the process of securing a rig to drill up to nine development wells, and two exploration/appraisal wells on Nigeria’s OML 130, Africa Oil has said.
Eco Atlantic tops up Gazania drilling pot
Eco Atlantic Oil & Gas has put $20 million into escrow for its share of drilling expenses on the Gazania-1 well, on Block 2B offshore South Africa.
TotalEnergies spuds deepwater Venus
TotalEnergies has spudded the Venus-1X exploration well offshore Namibia, in Block 2913B.
Flurry of African exploration incoming
Exploration companies big and small are warming up for a busy next 12 months – although some have warned this may be the last such push in the energy industry.
Africa Oil, the exception
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
Tullow hits pause in Kenya
Tullow Oil has declared force majeure at its site in northern Kenya, putting plans to sanction the project this year in jeopardy.
Africa Oil sees Nigerian profits roll in
Africa Oil paid down $45.2 million of its debt during the first quarter, after receiving $87.5mn from its stake in three major Nigerian oilfields.
Africa Energy signs farm-out in South Africa
Africa Energy has signed farm-out agreements on Block 2B offshore South Africa, with Panoro Energy and Azinam.
Africa Oil takes Nigeria dividend
Africa Oil has received its first dividend from its recently acquired Nigerian assets and has directed the cash to pay down a loan.
Petrobras finally out of Africa
Petrobras has concluded the sale of its 50% stake in Petrobras Oil & Gas BV (POGBV), through which it held stakes in Nigeria’s Egina and Agbami fields.
Equatorial Guinea dishes out licences
Equatorial Guinea has preliminarily awarded nine blocks in its EGRonda 2019 licence round, announcing the results at the Gas Exporting Countries Forum (GECF) under way this week in Malabo.