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Kenya could beat Mozambique, Tanzania for Upstream Investment in East Africa GlobalData Analyst

Kenya will need to focus on providing a competitive and stable fiscal environment if it is to fully exploit its offshore gas industry and attract investors ahead of Mozambique and Tanzania, says an analyst with research and consulting firm GlobalData. Reece Straker, GlobalData’s Upstream Oil & Gas Analyst, states that while Kenya is currently behind Tanzania and Mozambique in terms of discoveries, exploration interest has increased since Tullow’s first offshore.... Read more »

Posted on : Friday , 31st October 2014

Tembo 1 well drilling to continue through November

 Africa-focused oil & gas company Wentworth with exploration and drilling operations in the Rovuma Onshore Concession in northern Mozambique has announced that the Tembo-1 exploration well has reached a depth of approximately 2,965 meters in Cretaceous age rocks.   This is short of the programmed drilling to the Jurassic at a total depth of 4,397 meters or 4,250 meters True Vertical Depth Sub Sea and hence is expected to continue through the month of November with no.... Read more »

Posted on : Friday , 31st October 2014

Algeria: Sonatrach to Carry Out First Offshore Drilling End 2015

      Algiers — The national hydrocarbon group SONATRACH will carry out first offshore drilling by the end of 2015, announced Wednesday its interim CEO, Said Sahnoun, at the signing ceremony of contracts of the 4th invitations to tender for hydrocarbon explorations.   SONATRACH, which stepped up its exploration operations, "intends to drill its first offshore well by the end of 2015," said Sahnoun.   The oil group will carry out its.... Read more »

Posted on : Friday , 31st October 2014

Tanzania: SWALA Detects 'Signs' of Oil in Kilombero

        SWALA Energy has announced that its seismic survey being carried out in the Kilombero Basin has provided the first evidence of multiple structures - a "string of pearls"- along the western basin boundary.   "These early results of the Kilombero seismic survey are particularly exciting and the similarities with the Lokichar Basin are extremely encouraging given the enormous success that has been achieved there to date," said.... Read more »

Posted on : Friday , 31st October 2014

Merck KGaA : forms partnership with Kenya medical research institute

Merck, a leading company for innovative and top-quality high-tech products in the pharmaceutical, chemical and life-science sectors, announced on Thursday the signature of a memorandum of understanding with Kenya Medical Research Institution (KEMRI) for a scientific partnership. Merck said in a statement that the partnership aimed at contributing to Kenya's social and economic development would cover research and development projects, programs and activities.... Read more »

Posted on : Friday , 31st October 2014

IFC pledges US$600m for a East Africa regional oil pipeline

      The International Finance Corporation (IFC), a lending arm of the World Bank, has pledged US$ 600m to fund an oil pipeline in East Africa. The funding is part of a US$1.8bn loan for projects in the Horn of Africa.   The oil pipeline is expected to link up upstream operations in Kenya, Uganda and South Sudan. A statement by the bank indicates that the investments will aid expansion of agribusiness, processing and seeds.   The whole project has been.... Read more »

Posted on : Friday , 31st October 2014

Private equity firm Catalyst buys stake in Mimosa Pharmacy

Private equity firm Catalyst Principal Partners has bought a stake in Mimosa Pharmacy, a retail drugs store chain, in the first local investment by the investor. Catalyst said it made the investment jointly with Africa Chemist and Beauty Care (ACBC), a Mauritius-based pharmaceutical chain. The deal amount was not disclosed but a typical investment ranges between $5 million (Sh444 million) and $20 million (Sh1.78 billion). The private equity firm, however, said the stake is a mix of.... Read more »

Posted on : Friday , 31st October 2014

South Africa's Imperial to take $58 mln stake in Dutch medical wholesaler

South Africa’s Imperial Holdings will buy 70 per cent of Imres BV, a Dutch wholesaler of medical supplies, for 46 million euros. This is to expand its pharmaceutical distribution in Africa, the transport company said on Thursday. Imperial is looking to expand its distribution business for consumer goods and medical products in fast-growing Africa. Although based in the Netherlands, Imres mainly targets Africa’s developing healthcare markets, Imperial said in a.... Read more »

Posted on : Friday , 31st October 2014

Cipla Medpro inks marketing pact with Teva for South Africa

The collaboration is a sales and distribution arrangement whereby Cipla Medpro will exclusively market Teva's broad pharmaceutical product portfolio in South Africa Cipla Medpro (a part of Cipla Ltd located in South Africa), through its subsidiary company Medpro Pharmaceutica (Pty) Ltd, has entered into a collaboration with Teva Pharmaceuticals (Pty) Ltd, an affiliate of Teva Pharmaceutical Industries Ltd (Teva) - the largest generic.... Read more »

Posted on : Friday , 31st October 2014

Liberia: Cica Motors Donates U.S.$97 K Vehicles to Red Cross

 Premium dealer in Toyota automobiles in Liberia has donated a Toyota Land cruiser ambulance valued at US$55,000 and a HINO truck valued at US$42,000 to the Liberia National Red Cross Society. Speaking at a the donation ceremony held at the company's office on the Bushrod Island, the company's managing director Marc Boisgarnier, said Red Cross has been a very good partner and customer to their business. He said the Red Cross has been on the frontline, fighting the deadly Ebola.... Read more »

Posted on : Friday , 31st October 2014

Tanzania Mulls Investing in Geothermal Power

 TANZANIA is looking into investing heavily in renewable energy, especially geothermal power on that the rock originated heat energy happens to be both cost-effective and greener for the environment.   Speaking in Arusha, Assistant Commissioner for Renewable Energy in the Ministry of Energy and Minerals, Mr Edward Ishengoma, revealed during the official opening of a two-day geothermal training that renewable energy was currently the last resort in the wake of ravages from.... Read more »

Posted on : Wednesday , 29th October 2014

VAALCO and Sonangol Enter Subsequent Exploration Phase

      In Angola VAALCO Energy entered into the Subsequent Exploration Phase (SEP) on Block 5 together with its working interest partner, Sonangol P&P. The SEP extends the exploration license for an additional three-year period such that the new expiry date for exploration activities is November 30, 2017. Under the terms of the SEP, VAALCO and Sonangol are required to acquire a 3D seismic program covering 600 sq km and to drill two additional exploration wells..... Read more »

Posted on : Wednesday , 29th October 2014



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