TotalEnergies has inked an agreement to increase its participation in two offshore Namibian exploration licenses. The French multinational is set to acquire an additional 10.5% participating interest in Block 2913B – home to the Venus discovery – and a further 9.39% stake in Block 2912 from Impact Oil and Gas, pending approval from Namibian regulators and joint venture partners. If approved, the deal would boost TotalEnergies’ stakes to 45.25% and 42.5%, respectively. Upon completion of
Portuguese multinational energy corporation Galp – alongside project partners the National Petroleum Corporation of Namibia (NAMCOR) and energy company Custos – has announced the discovery of light oil at the Mopane-1X well in Namibia. Located in Petroleum Exploration License (PEL) 83 in the Orange Basin, the discovery is the sixth in the country since 2022. According to Galp, drilling operations revealed a column of light oil in high quality reservoir-bearing sands. The project partners will
Angola’s second largest port, the Port of Lobito, has recorded an increase of 7.57% in ship movement since 2022, with 351 ships docked at the port handling 1,332,451 tons of cargo in 2023. Announced by Celso Rosas, Chairman of the Board of Directors of the Port of Lobito, it was highlighted that the port collected revenues of more than $16.6 million in 2023. Despite an increase in ship movements, however, the Port of Lobito recorded
Maritime infrastructure operator Golar LNG’s, Gimi Floating Liquefied Natural Gas (FLNG) vessel is expected to arrive in Dakar, Senegal on 12 January, where it will serve the first phase of oil and gas supermajor bp’s, Greater Tortue Ahmeyim (GTA) project, straddling the maritime border of Mauritania and Senegal. Upon arrival, the FLNG vessel will be moored and connected to the GTA hub, where it will produce up to 2.7 million tons of Liquefied Natural Gas
France has introduced a new energy strategy that sees the development of up to 14 nuclear power plants to achieve carbon neutrality by 2050. The proposed draft law – set to be presented to the Cabinet next month – targets the construction of at least six new European Pressurized Reactors, while an additional eight reactors may be optioned to meet the country’s goal of reducing fossil fuel dependency from 60% to 40% by 2035. Despite
Australian-based Invictus Energy has raised $10.2 million in capital to fund its activities in the Cabora Bassa project in Zimbabwe. The capital infusion was achieved through a private placement, following the initiation of a share purchase plan in early May 2023. “These funds will be invested into extending the recent success of our dual gas discoveries in the Upper and Lower Angwa formations and completion of a highly successful Mukuyu-2 drill campaign,” said Invictus MD
A consortium comprising maritime construction firm Ocean Installer and engineering company Oceaneering has won a contract for work on the Girassol Life Extension (GIR FLEX) project in Angola. Awarded by French multinational TotalEnergies and its partners for Block 17, the contract will extend the production lifecycle of the project to 2031. Ocean Installer will handle transportation and installation services for GIR FLEX, encompassing the recovery of old risers, transportation, and installation of 10 new risers,
Impact Oil has signed a farmout agreement with TotalEnergies EP Namibia to sell 9,39% undivided interest in Block 2912 and 10,5% in Block 2913B in the Orange Basin. Block 2912 is under PEL 91 and 2913B is under PEL 56. Impact Oil’s wholly-owned subsidiary Impact Oil and Gas Namibia (Pty) Ltd and TotalEnergies SE’s subsidiary TotalEnergies Namibia BV signed the agreement. The transaction includes a full carry-on Impact’s retained interest for all joint venture costs,
De Beers has recorded the lowest rough diamond sales in two years, with the company’s CEO Al Cook attributing the poor sales to macroeconomic challenges.The Anglo-American company says it sold US$80m worth of rough diamonds for circle 9, which covers the period 4 October to 3 November 2023.In cycle 8, from 18 September to 3 October 2023, the rough diamond sales were US$200m, while in cycle 7, between 14 and 29 August 2023, the sales
Nigeria’s Dangote oil refinery might kick off test runs this week after receiving its sixth crude cargo on Monday, following years of construction delays. The arrival of the sixth crude cargo from the Agbami field in the Niger Delta brings the total crude stock received at the facility to six million barrels of oil, the required amount to bring the 650,000 barrels per day (bpd) facility to life. The refinery’s operation is expected to turn
