Debswana Diamond Company, the mining joint venture between the Government of the Republic of Botswana and De Beers Group, last week announced that its Board has approved the commencement of the Jwaneng Underground Project’s crucial phase, which is the Exploration Access Development. The Jwaneng Underground Project is implemented in four phases; being, Early Works (which started in 2022); Exploration Access Development, Phase 1 Mining and Phase 2 Mining. The Board’s approval for the second phase
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
A gold exploration project was inaugurated in Cabinda province last week, representing a $15.2 million investment. This project anticipates an estimated annual production of 3,900 ounces from secondary deposits. The inauguration ceremony was officiated by Diamantino Azevedo, the Minister of Mineral Resources, Oil, and Gas, along with Cabinda’s Governor, Mara Quiosa. The project’s goal is to explore gold in Cabinda, with an expected annual production of 8,900 ounces from secondary deposits. The Ministry of Mineral
Nigeria has equaled Angola as the largest oil drilling market in sub-Saharan this year, according to a report by Hawilti and the Caverton Offshore Support Group. Oil drilling involves the extraction of oil by drilling a well through the earth’s crust to reach the fossil fuel deposits. The report said Nigeria had caught up with Angola, which had long held the position of top drilling destination on the continent, with eight drilling campaigns confirmed offshore in both countries. However, activity is likely
Global spending on conventional oil and gas exploration will hit over $50 billion in 2023, according to energy research company Rystad Energy. Upstream companies are strategically directing their investments towards offshore projects, focusing on lucrative regions that have a robust geological understanding. Rystad Energy says that up to 95% of the total expenditure in 2023 is allocated to offshore initiatives. “Upstream companies are facing a period of uncertainty. They are eager to capitalize on the increased
Oil and gas exploration company Global Petroleum has received approval from Namibia’s Ministry of Mines and Energy to proceed with the first renewal period of the offshore Walvis Basin Petroleum Exploration License (PEL) 94 in the southern African country’s Block 2011A. The work commitment for the period will span two years, from September 2023 to September 2025, and will involve the acquisition, processing and interpretation of 2,000km of 3D seismic data carried over from the
The Japanese government has announced its intention to enhance its partnership with Zambia in the search for crucial minerals necessary for electric vehicles and other products. Economy, Trade, and Industry Minister Yasutoshi Nishimura, along with Zambia’s Mines and Mineral Development Minister Paul Kabuswe, signed a collaborative agreement in Lusaka on Friday to bolster their cooperation in the mining industry. The Japanese government plans to strengthen the supply chain for key minerals by supporting the development
On the back of major oil and gas discoveries in recent years, Namibia’s upstream oil and gas sector is on the precipice of rapid transformation. Significant discoveries made in the southern African country’s Orange Basin in 2022 and 2023 – which include the Graff-1, Venus-1, and Jonker-1X exploration projects –, compounded by favorable fiscal incentives, have attracted oil and gas supermajors including TotalEnergies, Shell, Chevron and ExxonMobil, as well as multinational energy corporations such as
