Helix Energy Solutions Group, an offshore energy service provider, has inked a deal with Esso Exploration and Production Nigeria (ESSO) for deepwater well intervention off the coast of Nigeria. Under the contract, Helix Energy will deploy its Q4000, a DP3 riser-based semi-submersible well intervention vessel, for operations in the Erha and Usan fields starting in September 2024. “We are delighted to secure this contract for the Q4000, aiming to enhance our partnership with Esso and
African energy stakeholders are advocating for diversified energy development that includes fossil fuels, despite Western demands for decarbonization. Speaking in London last week, a panel of energy firms and financial institutions called for an influx of global capital, technology and expertise in helping Africa to sustainably develop its resources, rather than dictating its resource development strategy. “The collaboration we need on a global level is coming together on the funding, knowledge and technology side –
Angola recently marked a significant milestone in its energy sector with the completion of seven photovoltaic plants, boosting the public electricity network by an additional 370 megawatts and extending benefits to over 500,000 inhabitants in rural areas. The Minister of Energy and Water, João Baptista Borges, unveiled this information during the inauguration of the 25th meeting of the Steering Committee of the Central African Energy Hub (PEAC) held in Luanda. In his address, Minister Borges
As Africa gears up to harness its gas resources for both domestic consumption and international markets, the United States is increasingly recognizing liquefied natural gas (LNG) as a pivotal avenue for investment, alongside traditional oil exploration. Recent projections by energy research and consultancy group Wood Mackenzie in October 2023 highlighted Africa’s ambitious $800-billion, 20-year upstream capital expenditure program, poised to yield world-class LNG projects in Mozambique and floating LNG (FLNG) ventures across five countries. This
Tanzania’s energy sector gets a reprieve as the price of petroleum products reduces. An update on the prices of petroleum products in the country shows a 1.07% decrease. This fall follows the recent decline in global energy prices and comes with several guidelines issued to local fuel marketers that ensure strict adherence to these new prices. The Energy and Water Utilities Regulatory Authorities (Ewura) disclosed that Tanzanians are to pay Sh3,051, for a liter of
The Republic of Congo is a mature hydrocarbon market with proven resources, including 1.8 billion barrels of oil reserves and 284 billion cubic meters of natural gas reserves. Despite this, the country’s on- and offshore territory remains underexplored and operators have been slow to add value to crude resources. However, a new gas monetization drive, coupled with several offshore exploration and development programs, presents investors with dynamic opportunities in gas processing and refining, LNG trade
TAAG Angola Airlines has recently launched cargo services from Luanda International Airport, utilizing a Boeing 737-800 freighter for the operations. The airline has initiated a weekly service, taking place every Monday, establishing a connection between Angola’s capital and Lagos in Nigeria, as well as Brazzaville in the Republic of Congo. This significant development comes on the heels of TAAG Angola Airlines’ recent announcement detailing its fleet enhancement initiative, marked by the acquisition of the Boeing
The State-owned Tanzania Petroleum Development Corporation (TPDC) has successfully acquired an additional 20% stake in the Mnazi Bay natural gas project, solidifying its total share in the venture at 40%. The deal, valued at $23.6 million, was finalized through a purchase agreement signed on February 10th with Etablissements Maurel & Prom SA, an oil company that holds an 80% stake in the project and maintains veto power over its operations. Under the terms of the
The Algerian oil and gas company, Sonatrach, has recently signed a medium-term contract with the gas supplier VNG Handel & Vertrieb GmbH (VNG) for the supply of pipeline natural gas to Germany. The agreement was finalized during a recent visit by a German delegation to Algiers. Rachid Hachichi, CEO of Sonatrach, expressed satisfaction with the strengthening of energy business partnerships with Europe through this significant agreement with VNG. He stated, “We are happy to strengthen
U.S. Secretary of State Anthony Blinken’s visit to Luanda in January 2024 cemented Washington D.C.’s commitment towards energy development and economic prosperity in Angola. In a meeting with Angola’s President João Lourenço and Foreign Minister Tete António, Blinken discussed bilateral relations and partnerships in the areas of infrastructure, energy, economic engagement and trade. The U.S. signed a seven-side MoU in October 2023 with the African Development Bank, the Africa Finance Corporation, the EU and the
