Nafusa Oil Operations BV has announced that the National Oil Corporation (NOC) has acquired its foreign partner’s share in the development of the North Hamada field. T his acquisition enables the resumption of exploration in Block 47 of the Ghadames Basin, which had been paused since 2014. In a statement released on Friday, Nafusa Oil Operations highlighted that this acquisition is expected to facilitate new discoveries in Block 47. These discoveries can be quickly developed
QatarEnergy partners with ExxonMobil, acquiring a 40% stake in two offshore Egypt exploration blocks through a farm-in agreement. Under the terms of the agreement, which is subject to customary approvals by the government of Egypt, QatarEnergy will acquire a 40% working interest in each of the Cairo and Masry offshore concession agreements, while ExxonMobil, as the operator, will retain the remaining 60% working interest. The Cairo and Masry offshore exploration blocks were awarded to ExxonMobil
On Monday in Luanda, Sonangol, Total Energies, and Petronas signed a joint partnership agreement to explore and produce oil in the Kaminho Project of Block 20. This investment, valued at $6 billion, is expected to ensure a daily production of 70,000 barrels by 2028. The Kaminho Project in Block 20 includes the Cameia and Golfinho fields, located 100 kilometers off the coast of Luanda. The block has oil reserves estimated at 400 million barrels. Total
Arrow Minerals, an exploration and development company, has discovered high-grade mineralization at its newly acquired Simandou North Iron Project in Guinea-Conakry. During the initial drilling phase in February, the company unearthed promising results from the first five holes, with surface samples showing grades as high as 63%. Additional testing of 392 samples is currently underway. With a commitment to establishing a direct shipping grade iron mining operation by June, Arrow Minerals plans to capitalize on
Exploration and development company Kefi Gold and Copper (Kefi) has progressed with preparations to launch the Tulu Kapi Gold Project in Ethiopia. The launch is slated for mid-2024, with production expected to begin in mid-2026. Kefi secured commitments for a $320 million development budget from project partners and debt providers including the Ethiopian government, the Eastern and Southern Trade and Development Bank and Africa Finance Corporation. Final approvals for the funding are anticipated this May.
Azule Energy, an Angolan company, and Rhino Resources Namibia have inked a significant agreement (Farm-In) granting Azule Energy a 42.5 percent interest in the exploration of Block 2914 A. This block lies within Namibia’s Orange basin, where major oil discoveries have been made since 2022. Currently, Rhino operates the venture with an 85 percent stake, alongside Namcor Exploration and Production (Proprietary) Limited (10%) and Namibian company Korres Investments (Pty) Ltd (5%). The agreement outlines a
Transitional energy company Chariot has initiated drilling operations for the RZK-1 well, marking its first exploration well of 2024. Situated within Morocco’s onshore Loukos license, the Gaufrette prospect serves as the focal point for this drilling campaign. The primary objective of the drilling endeavor is to tap into an estimated 10 billion cubic feet (bcf) of natural gas resources. However, Chariot’s strategy includes plans to deepen the well in order to access potentially larger reserves.
Exploration firm Rhino Resources has awarded a contract to energy services company Halliburton for its deep-water multi-well construction project offshore Namibia, announced during the Namibia International Energy Conference (NIEC) 2024. Halliburton will provide solutions for the construction of exploration and appraisal wells in Block 2914A starting from Q4 – 2024. Additionally, Rhino Resources will utilize Halliburton’s well and prospect testing services as part of the contract. According to Travis Smithard, CEO of Rhino Resources, the
Canadian oil and gas company ReconAfrica will start drilling its first exploration well, Naingopo, in the Damara Fold Belt region of northeast Namibia in June 2024. Utilizing the Jarvie-1 rig, the project will target an estimated 163 million barrels of unrisked prospective oil resources or 843 billion cubic feet of unrisked prospective natural gas resources. The drilling will span approximately 90 days, reaching depths of around 12,500 feet or 3,800 meters, the company’s exploration update indicates. Brian Reinsborough, President
Gold exploration in Angola has seen significant progress, occupying 4.9 percent of the national territory and generating over $10 million in revenue from 2021 to 2023, according to data from the Department of Standardization and Good Practices of the Regulation and Markets Directorate of the National Mineral Resources Agency. Jornal de Economia & Finances reported that 38 mining titles have been issued for gold prospecting in provinces including Huambo, Huíla, and Cabinda, with 11 mining
