Africa Oil has announced its operating and consolidated financial results for the three months and the year ended December 31, 2020. The Company is also releasing today, its 2021 Management Guidance including guidance related to its 50% equity investee, Prime Oil & Gas Coöperatief U.A.  Highlights Africa Oil fourth quarter net income of $79.8 million […]

Drilling Operations   As announced on January 11, 2021, the Company commenced drilling operations on the first well (6-2), of an initial three well program to evaluate potential hydrocarbon systems in one of five major sub-basins of the larger, more laterally extensive, deep Kavango basin.   Having set and cemented 17 ½” surface casing mid-January, […]

VAALCO Energy   has announced that it has now completed the previously announced acquisition of Sasol Gabon S.A.’s (“Sasol”) 27.8% working interest(1) in the Etame Marin block offshore Gabon, increasing the Company’s total working interest to 58.8%. Key Highlights Nearly doubles VAALCO’s total net production and reserves; Expected to be immediately accretive to VAALCO, with minimal additional […]

Over the past few weeks, Tullow has been reviewing its business plan and operating strategy with lending banks within its RBL and their financial advisers, as well as with the financial advisers of the 2021 convertible bond holders and the 2022 bond holders. This plan is expected to generate material cash flow, which will enable […]

EnerMech has appointed Celestino Maússe to the newly created role of Mozambique country manager as the company seeks to expand its business as local activity ramps up. In his new role, Mr Maússe will lead the business development effort within Mozambique and will aim to secure and deliver new contracts in country. Mr Maússe brings […]

United Oil & Gas has provided an update on the drilling of the ASH-3 well in the Abu Sennan concession, onshore Egypt. United holds a 22% non-operating interest in Abu Sennan, which is operated by Kuwait Energy Egypt. Highlights Total of 27.5m net pay interpreted over a 59m gross section in the targeted Alem El Buieb (AEB) reservoir Initial […]

Chariot Oil & Gas, the Africa focused transition energy company, has signed a Collaboration Agreement with Subsea Integration Alliance to work together to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois Gas Development project in Morocco. Subsea Integration Alliance is a nonincorporated strategic global alliance between Subsea 7 and OneSubsea®, the subsea technologies, production, and processing […]

Nigerian state oil company NNPC has extended until June its contracts with private companies to swap crude oil for fuels, a company spokesman told Reuters. That’s the second extension of the one-year contracts to exchange more than 300,000 barrels per day (bpd) with 15 company pairings, which had been set to expire in October 2020. […]

The first LNG cargo from the Damietta liquefaction plant in Egypt was successfully produced and lifted. This is the first LNG cargo produced by the terminal after it was shut down in 2012.  Such event represents an important milestone in the process to complete the agreement reached on December 1st 2020 aimed at settling all […]

Politically volatile and fiscally challenged Algeria has replaced its energy minister again, in yet another cabinet shuffle, putting familiar face Mohamed Arkab back in charge of the OPEC member’s stagnating oil and gas portfolio. Arkab replaces Abdelmadjid Attar, the former Sonatrach CEO who had been named to the post just last June, supplanting Arkab, who […]