London-listed exploration and production company, Europa Oil & Gas, has acquired a working interest in Block EG-08 offshore Equatorial Guinea through a three-million-dollar acquisition of Antler Global. In partnership with national oil company GEPetrol (20%), Antler Global owns an 80% stake in Block EG-08, located in the Douala Basin. The deal sees Europa Oil & Gas acquire a 42.9% equity interest in Antler Global, with the funds used to execute a first-year work program that
Sonangol reinforced its positioning in the Oil and Natural Gas sector, with an increase in production from operated blocks and the resumption of onshore oil exploration activity, declared the chairman of the Board of Directors, when announcing the relevant facts of the company’s evolution during the year. In a New Year’s message addressed to the company’s workers, released yesterday December 28, Sebastião Gaspar Martins highlights, in the field of onshore exploration (on land), the drilling
In 2023, Angola earned the title – along with Nigeria – as the largest hydrocarbon drilling market in sub-Saharan Africa, and may surpass the West African country in 2024 as drilling campaigns extend into the second half of next year. Aligned with the government’s aim to boost oil output to 1.3 million barrels per day, these programs could position Angola as the leading crude oil producer in sub-Saharan Africa in the next five years. The
Sonangol inaugurated, on Friday December 22, in Luanda, a gas station with a photovoltaic energy source, an investment of 254 thousand dollars that constitutes the first of a project of 17 that the company will replicate throughout the country from 2024. The company, which is implementing its energy transition strategy, employs 102 photovoltaic panels at the Anduri Supply Station, located in the municipality of Icolo e Bengo, Estrada Nacional 230, 120 kilometers from the center
In a pivotal move aimed at bolstering Angola’s energy sector, the National Oil, Gas and Biofuels Agency (ANPG) finalized three significant risk service contracts in partnership with Azule Energy. The contracts, signed in Luanda, mark a strategic venture for the prospecting, research, and exploration of blocks 46 and 47, in collaboration with Equinor and Sonangol Pesquisa & Production. Additionally, a partnership was formed for block 18/15 with the state-owned company, Sonangol. The ceremony, graced by
The African Energy Chamber (AEC) congratulates UTM Offshore, the Nigerian National Petroleum Company (NNPC), and the Delta State Government on the signing of a groundbreaking shareholders agreement in Abuja on Tuesday 11th December, to develop Nigeria’s first Floating Liquefied Natural Gas (FLNG) project. In line with the AEC’s commitment to African resource sovereignty, this partnership marks a significant step towards eliminating energy poverty and advancing the continent’s gas monetization agenda. Notably, the UTM FLNG project
The US is stepping up its support for diversified energy development in Libya, specifically targeting the modernization of its oil and gas sector, enhanced transparency and improved service delivery. In a bid to bring American companies into the Libyan market, the U.S. Embassy in Tripoli and US Agency for International Development (USAID) have made recent commitments to establishing a business-enabling environment, improving fiscal transparency and promoting targeted reforms in the country, coupled with a string
Four oil and gas giants – Shell, TotalEnergies, QatarEnergy, and Petronas – have inked production sharing contracts (PSCs) with Staatsolie for blocks offshore Suriname, enlarging their presence in the country’s offshore oil and gas industry. These PSCs have been signed for blocks 63, 64, and 65, which were part of the Demerara Bid Round held from November 2022 to May 2023. The contracts from the bids were signed after negotiations with selected partners. The Demerara
An onshore oil well drilling rig, owned by the Angolan company Dinge Sondagem, has been operating in Cabinda since Friday last week, when it was inaugurated by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, to provide services to operators of the hydrocarbon industry. Installed in the village of Banza, Regedoria de Cotra, the probe is one of the most modern operating in the Angolan “onshore”, representing an investment of six million dollars,
Niger has announced that it will begin exporting its crude oil through the newly constructed Niger-Benin pipeline in January 2024. The pipeline, which was inaugurated last November, establishes a crucial link between Niger’s Agadem oilfield and Benin’s Port of Cotonou. Niger anticipates the export of 90,000 barrels per day (bpd) through the pipeline to Benin, earning export revenues on approximately one-quarter of the total volume. Currently, Niger operates a modest oil refinery with a capacity
