Recent oil and gas discoveries throughout the continent, including Namibia’s Mopane 1X and 2X, are spurring new drilling campaigns and investments across Africa. Global E&P companies are ramping up exploration activities to unlock fresh reserves and maximize the Africa’s offshore potential with a number of high-impact wells planned for 2024 and 2025. Up to 70% of wells drilled in Africa will be in frontier and emerging basins. Set to dominate the global high-impact well drilling
Egyptian Natural Gas Holding Company (EGAS) has signed a 20-month agreement with energy infrastructure firms Höegh LNG and Australian Industrial Energy (AIE) to deploy a Floating Storage and Regasification unit (FSRU) in Ain Sokhna, Egypt. Höegh LNG will provide its FSRU unit, Hoegh Galleon, for use in Egypt from June 2024 to February 2025. Afterward, the unit will be deployed to Port Kembla in Australia under a 15-year contract with AIE.Top of Form Bottom of
Renergen, an integrated renewable energy company, has commenced helium production at the Virginia Gas Project in South Africa’s Free State province. The project’s Original Equipment Manufacturer (OEM) has successfully cooled the helium cold box to the required temperature, allowing for the liquefaction of helium from the wells in batches. Following this milestone, the next steps involve ensuring all operating conditions meet standards, with a performance test scheduled by the OEM before transitioning the project into
Multinational company Endeavour Mining has poured the first gold at its Sabodala-Massawa BIOX Expansion project in Senegal, completing construction in just 24 months. Commercial production at the expansion project is slated to commence late in Q2 2024, with a capacity expected to reach 1.2 million tons per year by Q3 2024. The inaugural gold pour took place on April 18, 2024, yielding approximately 112 ounces, while the BIOX circuit followed suit on April 28, 2024,
Canadian mining firm Hertz Energy has applied for two prospecting licenses to explore uranium in Namibia. Namibia ranks third globally in uranium production and extracting 6,382 tons of uranium l in 2023. The application covers a 9,627-hectare area in Central Namibia, situated in the Erongo region. The first proposed project is positioned 22km east of Swakopmund and 30km southwest of the longstanding Rossing Mine. Preliminary data suggests mineralization similar to that of the Rossing Mine
Renewable energy firm AMEA Power, headquartered in the UAE, has announced the signing of a 20-year Power Purchase Agreement (PPA) with Eskom, a major South African utility company, for the 120-megawatt Doornhoek Solar Photovoltaic (PV) Project. The project, awarded under Bid Window 6 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), was developed by a consortium led by AMEA Power in partnership with local entities. AMEA Power holds the majority share in the
According to a report released today by the International Energy Agency (IEA), China maintained its stronghold on the global investment landscape in photovoltaic solar module manufacturing, accounting for 80% of global investment in 2023. The IEA’s findings suggest that China’s leadership in this sector is unlikely to change in the near future. The report paints an optimistic picture of the capacity of factories worldwide to produce solar installations necessary to achieve climate goals by 2030.
The unemployment rate in the United States of America (USA) rose to 3.9% in April, a tenth more than in the previous month and the economy created 175,000 new jobs, the Department of Labor reported. ob creation was below what was expected by economists, who pointed to 243,000 jobs and a far cry from the 315,000 in March. These data suggest that the Federal Reserve’s (Fed) restrictive monetary policy, with successive interest rate hikes until
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched its 2024 licensing round that features 12 oil blocks, combined with 5 deep offshore assets from last year’s round. Available through January 2025, the acreage on offer includes but is not limited to 6 greenfield oil blocks situated on the continental shelf, 4 deep offshore blocks and 2 onshore blocks in the Niger Delta. The Commission is seeking to establish an investment-friendly environment by ensuring regulatory
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.
