Angola is gearing up for its next international tender in 2025 as part of its six-year licensing strategy initiated in 2019. With the National Oil, Gas & Biofuels Agency (ANPG) finalizing contract negotiations for the concluded 2023 bid round, which attracted 53 bids, the country’s upstream sector is poised for substantial growth. The burgeoning investment in exploration and new oil and gas developments is set to be supported by Angola’s robust transport and logistics infrastructure.
Shell Nigeria Gas (SNG) – a subsidiary of energy major Shell – and Nigeria’s Oyo State Government have signed a partnership to establish a gas supply and distribution network aimed at providing gas to industrial and commercial consumers within the state. The project comprises the construction of 15km of pipelines with a capacity to deliver 60 million standard cubic feet per day, with first gas expected by Q4, 2025. SNG will construct and manage the gas distribution
Yinson Production, an energy infrastructure and technology company, has finalized a $1.3 billion limited recourse term loan facility for the construction of the Agogo FPSO in Angola. The financing, backed by a consortium of 13 lenders, encompasses both pre- and post-delivery expenses for the facility, with Standard Chartered Bank acting as the Global Coordinating Bank. Structured into three secured tranches with staggered maturities spanning up to 10 years, the multi-tranche financing will support the complete
Offshore services company ADES Holding has secured a drilling contract from Egypt’s Suez Oil Company. Under the $42.93 million contract, a jack-up unit will be used for drill works at the Gulf of Suez, with the 21-month term expected to commence in the coming weeks. This latest contract comes on the heels of ADES Holding’s recently awarded campaigns in Qatar and Thailand, set to begin in the second half of 2024. As a result, the services company has
Mozambique’s Coral South floating LNG (FLNG) facility reached a critical milestone on Monday, successfully passing a performance test achieving production above 3.4 million tons per year. Dual mixed refrigerant LNG process technology and equipment developed by global industrial gases company Air Products passed the evaluation, enabling maximum efficiency, increased reliability and reduced environmental impact. In addition to its proprietary equipment and technology, Air Products provided technical advisory services for the installation, commissioning, start-up and performance
Senegal’s National Bank for Economic Development (BNDE) has obtained a €70-million financing line from the Development Bank of Southern Africa (DBSA), promoting South-South financial cooperation. The loan aims to bolster BNDE’s capacity to support the Senegalese economy, particularly projects led by SMEs, while strengthening its role as a development bank. DBSA will provide the line of credit for a seven-year period. The announcement aligns with Senegal’s decision to boost BNDE’s capital to €79 million, reflecting
Integrated energy company Eni Kenya BV plans to establish a biogas facility in Kenya that will utilize trash dumps from five major landfills across Kenya to generate energy for households. Awaiting government authorization, Eni Kenya BV’s proposal holds promise for addressing environmental hazards posed by dumpsites while simultaneously providing a renewable energy source. The company’s initiative aims to transform these dumpsite into sources of clean energy. “In 2023, in support of the subsidiary Eni Kenya
Saudi renewable energy company ACWA Power has been mandated by the Kingdom’s Ministry of Energy to conduct a feasibility study for the construction of a natural gas pipeline in Mauritania. The proposed pipeline will transport natural gas from the Greater Tortue Ahmeyim production site to the port of N’Diago for power generation purposes. The feasibility study also covers the construction of a gas-to-power plant, with the port serving as a distribution point for domestic electricity.
Mining exploration companies Avanti Gold Corp. and MTM have finalized a Share Exchange Agreement, encompassing Avanti’s acquisition of prospecting rights in South Africa’s Kraaipan Greenstone Belt. Under this agreement, Avanti Gold Corp. will issue 29 million common shares to MTM’s shareholders in exchange for all issued and outstanding share capital of MTM. These shares will be subject to a five-month resale restriction and other relevant securities regulations. The strategic move expands Avanti Gold Corp.’s portfolio without constituting a fundamental
The United States and Angola have finalized funding agreements for three infrastructure projects worth $1.3 billion. These initiatives are integral to the transnational Lobito Corridor development and are backed by the Partnership for Global Infrastructure and Investment (PGI), a collective commitment by G7 nations to promote private investment in global infrastructure endeavors. Among the trio of projects are two solar power plants boasting a combined capacity of 500 MW. Spearheaded by renewable energy firm Sun
