Halliburton, the American oil and gas company, is set to finish drilling four deep-water natural gas wells in Egypt by the end of November. The drilling project encompasses two wells in the Burullus gas field, located in the West Nile Delta, and two in BP’s Raven gas field near Alexandria. An official confirmed that Halliburton has already successfully connected one of the Burullus wells to production as part of the 10th phase of the project.
Egypt’s President Abdel Fattah al-Sisi met with Eni’s CEO Claudio Descalzi to explore strategies for enhancing gas production, particularly in light of Egypt’s transition to the liquefied natural gas (LNG) market to satisfy domestic demand, according to reports from the Italian energy group. After the discovery of the massive Zohr offshore gas field in 2015, Egypt aimed to become a significant gas exporter. However, domestic gas production has declined since 2021, reaching a six-year low
Angolan authorities arrested 34 individuals and seized nearly 443,000 liters of fuel in an intensive 20-day crackdown on smuggling, resulting in an estimated loss of 111 million kwanzas for the State. Deputy Commissioner Mateus Rodrigues, spokesperson for the Angolan National Police, disclosed these details at a press conference in Zaire on Friday. The operations, conducted between October 8 and 28, involved the Border Guard Police and Customs Police. Officials reported intercepting 462,449 liters of fuel,
Nigeria’s National Petroleum Company Limited (NNPCL) and Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) have achieved a significant milestone in advancing the African Atlantic Gas Pipeline (AAGP) project, also known as the Nigeria-Morocco Gas Pipeline. The $25 billion initiative has now entered the land acquisition and resettlement phase, marking a critical step toward transforming the region’s energy infrastructure. Mele Kyari, Group Chief Executive of NNPCL, lauded the progress, attributing it to robust regional
Botswana’s newly elected President, Duma Boko, announced on Friday his intent to finalize negotiations for a new diamond sales agreement with De Beers as soon as possible. De Beers, a subsidiary of Anglo American, had previously agreed to a deal that would gradually increase Botswana’s share of diamonds from the Debswana joint venture to 50% over the next decade. Currently, Debswana, co-owned by Botswana and De Beers, supplies 75% of its diamond output to the
Sequa Petroleum, a U.K.-based oil and gas company, has received official approval from the Angolan government to acquire significant stakes in three offshore oil blocks. The acquisition includes a 10% interest in Block 15/06, as well as 40% and 35% stakes in Block 23 and Block 27, respectively. In an independent review, Sequa’s share in Block 15/06 was initially estimated to hold around 55 million barrels of recoverable oil as of April 2022. This figure
Angola’s new Cabinda oil refinery, nearing the completion of its first phase, is scheduled to start fuel production by April 2025. Project leader Atanas Bostandjiev, founder and CEO of Gemcorp, the primary stakeholder, announced that commissioning will take place in January-February, with the first fuel supplies hitting the local market by March-April. Once operational, the refinery will initially process 30,000 barrels per day (bpd) of Angolan crude, provided by national oil company Sonangol, meeting around
South Africa’s oldest mining company, De Beers, is advancing inclusivity within the local diamond sector, inviting entrepreneurs to join its local business development program. Sponsored by Anglo American, this three-year initiative provides entrepreneurs with training and mentorship from industry leaders on diamond beneficiation, jewelry design, manufacturing, and retail. Promising entrepreneurs may even qualify as De Beers sightholders—elite buyers eligible to purchase rough diamonds at global auctions. The program, supported by business incubator Raizcorp, highlights De
Angola generated approximately $8.1 billion from exporting 102.1 million barrels of oil in the third quarter of this year, the government announced last week. Alexandre Garrett, director of the Planning and Statistics Office of the Ministry of Mineral Resources, Oil, and Gas, reported a 5.42% rise in export volume from the previous quarter and a 2.01% increase compared to the same period in 2023. “Although export volumes rose, this increase was not reflected in price
The Economic Community of West African States (ECOWAS) has endorsed the Host Government Agreement (HGA) for the African Atlantic Gas Pipeline (AAGP) project, marking a significant milestone in the development of the 7,000-km pipeline. The HGA, which complements the existing Intergovernmental Agreement (IGA), defines the terms of collaboration between host countries and the project company, setting the foundation for the pipeline’s construction. This ambitious infrastructure will link Nigeria to Morocco, supplying natural gas across ECOWAS
