Oil and gas

January 18, 2020

1

Africa Oil closes acquisition of production assets, deepwater Nigeria

Africa Oil Corp announces the closing of the acquisition of a 50% ownership interest in Petrobras Oil and Gas B.V. ('POGBV') in Nigeria.

BTG Pactual E&P B.V. will continue to own the remaining 50% of POGBV. The total cash payment by AOI to close the Acquisition, including the Nigerian Government's consent fee, amounts to $519.5 million. This includes a deferred payment of $24.8 million which is due by end of June 2020.

The"...

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January 18, 2020

2

Eni wins new license in Namibe basin, offshore Angola

ANPG, State concessionaire for oil & gas rights in Angola, assigned Block 28 to Eni (as Operator with 60%), as a result of the international competitive Bid Round 2019. This result allows Eni to further consolidate its long term presence in the Country.

Eni, with a 60% share, will be the Operator of the license, located in deep water in the unexplored Namibe Basin. The Joint Venture will include Sonangol P&P (20% of share), while the remaining"...

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January 15, 2020

3

Safaricom and M-Gas launch prepaid gas services for Kenyan homes

Safaricom and M-Gas have today announced the launch of a, prepaid gas service for Kenyan households. The innovation will empower millions of Kenyan homes to enjoy access to clean, affordable and reliable cooking gas, providing them with the flexibility of purchasing gas based on their needs and how much they can afford at a time.

M-Gas is tackling existing access barriers to clean cooking by eradicating both the upfront cost required for a gas cylinder"...

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January 11, 2020

4

VAALCO Etame well completed, placed on higher than anticipated production rate

VAALCO Energy announces that the Etame 11h development well has been successfully completed and placed on production at higher than anticipated rate.

Cary Bounds, Chief Executive Officer, commented:

“We are very pleased with the successful results of the second development well in our 2019/2020 drilling campaign that was drilled and completed on schedule and within"...

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December 31, 2019

5

NNPC: Nigeria Recorded Increased Gas Flaring in 13 Months

The Nigerian National Petroleum Corporation (NNPC) has stated that a total of 276.04 billion cubic feet (bcf) of natural gas was flared from Nigeria’s oil fields between September 2018 and September 2019 – a period of 13 months.

NNPC in its latest operations and financial reports explained that the volume of gas flared within this period was more than what was supplied to power generation companies for electricity production which was"...

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December 30, 2019

6

Eni, Shell, partners launch LNG plant expansion project

Eni and its partners (Shell, NNPC, Total) in Nigeria LNG (NLNG) have taken the final investment decision (FID) for the expansion project of the liquefied natural gas (LNG) plant. This brownfield development, which is expected to start-up in 2024, will increase the annual production capacity to more than 30 million tonnes per year (Mtpa) from the current 22.5 Mtpa.

The expansion project will enable to produce an additional 7.6 Mtpa of LNG, of which"...

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December 29, 2019

7

NNPC, Chevron execute agreements on Escravos gas-to-liquid project

The Nigerian National Petroleum Corporation (NNPC) and the Chevron Nigeria Limited (CNL) have executed agreements over the multi-billion dollars Escravos Gas-to-Liquid (EGTL) project.

Speaking at a sign-off meeting in Abuja, the Group Managing Director of the corporation, Mele Kyari, disclosed that CNL would boost the domestic gas market with 400MMScf per day gas supply,"...

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December 24, 2019

8

Everfuel Awarded Grant for the Establishment of a Large-Scale Hydrogen Production Facility in Denmark

Everfuel Europe A/S (Everfuel) has been awarded in excess EUR 6 million from the Danish Energy Agency for the project HySynergy, which aims to establish a large-scale, electrolysis-based hydrogen production facility at the Shell refinery in Fredericia, Denmark.

“We have been working on this project for a couple of years now, and are delighted to see that Jacob Krogsgaard and his team in Everfuel"...

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December 23, 2019

9

NNPC records 52% increase in crude oil & gas export sale in September

The Nigerian National Petroleum Corporation (NNPC) has announced crude oil and gas export sale of $355.93million in September 2019, indicating a significant increase of 52.84 per cent, compared to the August 2019 figure of $232.87million, a release by the corporation’s Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, has said.

The"...

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