Oil and gas exploration company Eco (Atlantic) Oil & Gas has received approval from Guyana to acquire a 60% interest in the country’s offshore Orinduik Block from independent oil and gas exploration and production company Tullow Oil. The company will assume operatorship of the block through an upfront payment of $700,000 and contingent consideration in the event of a commercial discovery. With approval from Guyana’s Minister of Natural Resources, Vickram Bharat, Eco (Atlantic) Oil &
Following the deadline for submissions for Angola’s recent onshore tender on November 15, 2023, the country received 53 bids. The round featured 12 blocks in the Lower Congo and Kwanza basins. Of the total 53 bids received by Angola’s national concessionaire, the National Oil, Gas and Biofuels Agency (ANPG), 22 bids were submitted for four blocks in the Congo Basin. These included CON 2, CON 3, CON 7 and CON 8. Block CON 8 alone
The National Oil, Gas and Biofuels Agency (ANPG) and the José Eduardo dos Santos University signed, last week a Memorandum of technical and scientific cooperation to support companies in the oil sector. The signing of the Memorandum took place during the workshop that dealt with the strategy for launching the biofuels sector, within the scope of implementing the obligations of the recently approved Kyoto Protocol. The head of ANPG’s Energy Integration and Biofuels Department, Vita
The country is aware of the need to maintain a balance between defending the planet, with decarbonization and reducing the greenhouse effect, and the need to improve the quality of life of citizens, with the exploration of fossil fuels. The statement was made by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who was speaking, Thursday, in Luanda, at the 3rd edition of the Round Table addressed to the CEO 2023 (executives) of
Sonangol (operator of Block KON-11), located in the Kwanza Onshore Basin announced, Wednesday, that it has completed the drilling of the “Tobias-13” well, with a total depth of 960m. In a press release, the state oil company said that the preliminary assessment of the main reservoir indicates the presence of hydrocarbons, whose production potential will be assessed after the completion of the drilling of a second well in the same block, “Tobias-14”, already underway. “The
The National Oil, Gas, and Biofuels Agency (ANPG) outlined its strategy to auction off 50 oil blocks by 2025 to bolster and stabilize national oil production. This initiative was highlighted by Paulimo Jerónimo, the president of ANPG’s Board of Directors, during the launch of bidding proposals for the exploration of the Lower Congo and Kwanza Onshore Basins in Luanda. Jerónimo emphasized Angola’s conducive business environment and flexibility in negotiations, underscoring the commitment to offering approximately
Block 15, marking 20 years of operation in Angola, aims to achieve an average production milestone of 30,000 barrels per day in the coming year, announced Melissa Bond, ExxonMobil’s General Director. Situated about 145 kilometers off the Zaire province coast, Block 15 has seen significant success, reaching an accumulated production of 2.5 billion barrels since its discovery in April this year. ExxonMobil’s investments exceeding $30 billion have resulted in 18 commercial discoveries within the block,
The copper and diamond mines in Cuanza-Sul province hold the potential to amplify local mining operations and broaden the avenues for wealth creation. This vision was emphasized recently by João Chimuco, the Executive Administrator of the National Mining Resources Agency. During his recent visit to Sumbe, the capital of Cuanza-Sul province, João Chimuco emphasized the necessity for collective involvement to effectively translate potential wealth into tangible resources. Following a courtesy meeting with the vice-governor for
African billionaire, Aliko Dangote, has announced that his refinery has obtained a license to process over 300,000 barrels of Nigerian crude daily and will commence gasoline production soon. “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” the billionaire said in an interview in Riyadh on the sidelines of the Saudi-Nigeria business roundtable. “We’re more than ready and you will see our gasoline products soon.” The
Environmental lobby groups have sent a letter urging banks and other financiers to withdraw their support for TotalEnergies’ $20 billion liquefied natural gas (LNG) terminal in Mozambique. The letter, sent to over two dozen project funders, coincides with a crucial moment for the French energy company as it readies to resume Africa’s largest foreign direct investment project. Activists caution that the project may exacerbate climate change and contribute to human rights abuses in the impoverished
