Market News

  • Simba Energy expects to sign Block 2A 2D seismic contract in Q1 2015

    Posted on :Friday , 19th December 2014

    Simba Energy has said it expects to sign a contract and commence the initial 2D seismic program in the first quarter of 2015 with its technical team having finalized a program to acquire up to 400 kms of 2D seismic designed to target drilling locations on prospects and leads in two basins, and also yield volumetrics that will support revised resource estimates.
     
    . . .

  • Angola s Sonangol secures $2 billion loan for refinery, other projects

    Posted on :Thursday , 18th December 2014

     China Development Bank (CDB) has extended a $2 billion line of credit to state-owned Sonangol EP to support expansion projects in Angola’s oil and gas sector.

     
    The financing agreement was signed on Dec. 12 in Beijing, China, Sonangol said.
     
    In addition to allowing execution of other large projects in crude oil exploration, re. . .

  • Ivory Coast signs deals with ExxonMobil for two oil blocks

    Posted on :Thursday , 18th December 2014

     Ivory Coast has signed production sharing agreements with oil giant Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea, the West African nation’s oil minister said.

     
    The deal covers Ivory Coast’s CI-602 and CI-603 blocks, which cover 3,874 and 5,543 square kilometres respectively and vary in depth from 3,000 to 4,000 metres.
  • Nigeria: GE and Heirs Holdings Partner to expand footprint in the Oil and Gas Services Sector

    Posted on :Thursday , 18th December 2014

    These companies which are aggressively working towards the development of African sub continent have agreed to jointly pursue and strive towards the growth of oil and gas industry in Nigeria. Before now, GE's collaboration with Heirs Holdings was focused on the Nigerian power sector towards the expansion of the largest power station in Nigeria.

    The move is a clear demonstration of a new. . .

  • East Africa to drill 253 wells in 2015 to boost ailing economy

    Posted on :Wednesday , 17th December 2014

     udan’s Minister for Oil Makawi Mohamed Awad has said his ministry plans to drill 253 wells next year as the country boosts its oil and gas reserves and seeks to attract foreign investments.

     
    Makawi who was speaking before Parliament on Tuesday said the wells would increase the country’s oil reserves by 65.4 million barrels and those of gas by 300 bi. . .

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