SacOil confirms acquisition
SacOil today confirmed it had acquired 100% of Phembani Oil Proprietary for $15.4million in a bid to diversify its business.
SacOil
Sacoil suspends trading as it considers reverse takeover
Sac Oil has suspended it shares on the AIM Market of the London Stock Exchange as it considers a reverse takeover.
African firms SacOil and Nigdel end row over Nigeria licence
South-Africa-based SacOil and Nigdel United Oil Company have dropped legal claims against each other over a licence in Nigeria.
Sacoil confirms seismic acquisition completed in DRC
SacOil, the South African oil and gas operator, has confirmed that Total has finalised 2D seismic date acquisition in the Block III in the Albertine Graben area of the Democratic Republic of Congo.
SacOil decides not to sign African pipeline JV
SacOil has decided against signing an African Renaissance Pipeline Project joint venture agreement.
Sacoil hits Egypt production target
SacOil has hit its initial production target for the Lagia field onshore Egypt and has completed the phase two development programme on the project.
SacOil agrees $6billion gas pipeline project
Sacoil has agreed a deal for the construction of a $6billion, 2,600km large-diameter pipeline to transport natural gas between Mozambique and South Africa.
Sacoil gains control of its interest in Congo
SacOil has agreed a deal to have a direct line of site of activities in a prospect in the Democratic Republic of Congo.,
SacOil sticks to plan to become producer
South African oil firm SacOil, said transition into a production company remained its priority as it announced it half-year results, revealing a drop in profit, due largely to increased operating costs.
SacOil mounts onshore Egypt campaign
SacOil has successfully drilled the first of five wells for its onshore Egypt campaign.
Sacoil continues legal fight to reclaim $12.5million from former JV partner
SacOil has said it is committed to recovering more than $12.5million from one of its former partners in Nigeria, after the partner initiated court proceedings over a dispute over the farm-out agreement.
Sacoil earnings set to be hit by operational delays
Operational delays affecting activity in the Democratic Republic of Congo have contributed to Sacoil issuing an earnings warning to investors.
SacOil begins Lagia field development
SacOil Holdings has started the first phase of its field development operations at its Lagia oil field in Sinai. The company has contracted Schlumberger through its subsidiary Mena International Petroleum Egypt to conduct the initial phase of development. It includes the hydraulic stimulation of the Lagia 6, 7, 8, 9 and 10 wells specifically targeting the intersected productive productive Nukhul geological formation.