Market News
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AFRICA OIL COMPLETES FARM-OUT OF KENYA, ETHIOPIA LICENSES TO MAERSK OIL
Posted on :Monday , 9th November 2015
Africa Oil Corp. has announced that it has entered into a definitive farmout agreement with a Danish oil and gas company Maersk Oil & Gas A/S, owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration for reimbursement of a portion. . .
Kachikwu Targets 3mbpd of Crude Oil Production By End of 2016
Posted on :Monday , 9th November 2015
A Minister-designate and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has stated that his target is to ensure that Nigeria's crude oil production capacity hits 3 million barrels per day by the end of 2016, from the current production level of about 2.5 million barrels per day.
Speaking on Saturday at a luncheon orga. . .Malawi Government Erred On The Oil and Gas Exploration Deal
Posted on :Monday , 9th November 2015
New revelations show that Malawi’s Government has erred by issuing two exploration licences for gas and oil on the World Heritage site of Lake Malawi including the National Park marine protected area which could seriously dent the country’s image in environmental conservation.
Godfrey Mfiti, Environmental Activist in Southern Africa says Malawi breached International . . .Sudan Calls on Turkish Companies to Invest in Petroleum Industry
Posted on :Monday , 9th November 2015
Awad, who met his Turkish counterpart Ali Riza Alaboyun on the sidelines of the 8th International Energy Congress in Ankara on Friday, pointed to the multiple investment opportunities in Sudan’s oil industry.
He urged Turkey to enter into petroleum exploration and extraction in Sudan, pointing that Sudan has a comparative advantage in the area of renewable energy, particula. . .MILIO INTERNATIONAL, PANCONTINENTAL OIL AND GAS PLANNING 2D SEISMIC KENYA’S ONSHORE BLOCK L6
Posted on :Friday , 6th November 2015
Block L6 operator Dubai based Milio International is in the process of planning for the seismic acquisition and is currently coordinating with local authorities according to JV partner Pancontinental Oil and Gas.
This is part of a farm-out agreement where Milio negotiated entry into the onshore area of block L6 in Kenya to earn a 60% interest in exchange for a 2D seismic programme . . .Please Select an Option
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