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Local Gas News Oil Petroleum

Chinese Shipbuilder HRDD Paves the Way for FPSO Agogo, Elevating Angola’s Oil Sector

22, March, 202422, March, 2024

Chinese shipbuilding firm HRDD achieved a significant milestone on Wednesday in Shanghai, China, as they completed the lifting and installation of the inaugural module for the structural framework of the Floating Production, Offloading, and Storage Unit (FPSO) Agogo. This operation, deemed crucial by Angolan Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, holds promise for stabilizing oil production in Angola. Minister Diamantino Azevedo, present at the event by invitation from HRDD, voiced his optimism

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Local News Oil Petroleum

Sonangol pays interest on bond debt

21, March, 202421, March, 2024

Sonangol has commenced the payment of interest on coupon No. 1 to holders of the 2023-2028 Bonds since last week, totaling 6,544 million kwanzas for the operation, with Banco BAI acting as the paying agent. In a statement published on its website, Sonangol reminds stakeholders that the amount available for payment is subject to withholding of Capital Investment Tax (IAC) as per applicable taxation rules. Furthermore, in compliance with the regulations of the Central de

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Local News Oil Petroleum

Angola invites US oil Companies for new Tenders

21, March, 202421, March, 2024

Angola is set to launch its next round of oil and gas concession licensing in 2025, inviting exploration and production companies from the United States, announced José Barroso, the Secretary of State for the portfolio, during an event in Houston on Tuesday. The country concluded bidding for 12 blocks earlier this year as part of a six-year licensing round initiated in 2019 and is finalizing production sharing negotiations. Speaking at a networking event organized by

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International Oil

Galp Yields Another Light Oil Discovery Offshore Namibia

21, March, 202421, March, 2024

Integrated energy company Galp – alongside partners the National Petroleum Corporation of Namibia (NAMCOR) and Custos Energy – has successfully drilled the Mopane-2X well in PEL 83, leading to another light oil discovery in Namibia’s Orange Basin. The discovery comes as part of Galp’s ongoing exploration campaign that began last November and targets the Mopane complex covering Blocks 2813A and 2814B. Last January, the company announced a light oil discovery – Mopane-1X – which indicated preliminary signs

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Gas International News Oil

Mozambique Records $1.7B in LNG Sales in 2023

21, March, 202421, March, 2024

Mozambique’s natural gas sales reached $1.7 billion in revenue in 2023 – according to statistical reports from the Bank of Mozambique – marking an increase of 218% compared to the previous year. The increase was driven by the operational start-up of the Coral Sul floating LNG (FLNG) plant in the Area 4 Block in the offshore Rovuma Basin, which delivered first LNG cargo in November 2022. The Area 4 Block is operated by Mozambique Rovuma

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Local News

Angola’s Mbanza Kongo Airport to Open in 2025

20, March, 202420, March, 2024

Construction of the Mbanza Kongo Airport in Angola’s province of Zaire is set to be complete in 2025, the country’s Minister of Transport Ricardo de Abreu announced. The airport will host domestic and international airline carriers, supporting tourism in the province. Developed by engineering and construction services companies Sinohydro Corporation, the 12,100 m² site features a 3,500 m runway capable of handling a Boeing 777-300ER – one of the world’s largest commercial twin-engine carriers. At

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International Gas News Oil

Angola to Launch 2025 Oil and Gas Licensing Round

20, March, 202420, March, 2024

Angola is gearing up to launch its next oil and gas licensing round in 2025, inviting US-based exploration and production companies to seize upcoming block opportunities. As part of a six-year licensing initiative initiated in 2019, the country recently concluded a 12-block tender in January 2024 and is currently finalizing negotiations for production sharing. During a networking event hosted by Angola Oil & Gas (AOG) 2024 in Houston on March 19, Secretary of State for

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Oil Gas International News

Zanzibar Prepares for Inaugural Oil and Gas Licensing Round

20, March, 202420, March, 2024

Zanzibar is set to inaugurate its first-ever licensing round on Wednesday, inviting international oil and gas companies to participate in exploration and production activities. The announcement, made by the Ministry of Blue Economy and Fisheries of Zanzibar, comes after the demarcation of eight offshore blocks in the region. Seeking to diversify its economy, Zanzibar aims to attract foreign investment into its hydrocarbon sector. To facilitate this, the semi-autonomous region has implemented a revamped Model Production

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Oil Gas International News

SOCAR President Discusses Oil and Gas Cooperation with Republic of Congo Official

20, March, 202420, March, 2024

Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), held a meeting with Francoise Joly, Presidential Adviser for International Strategy of the Republic of Congo, to explore opportunities for cooperation across the oil and gas sector. During the discussion, Najaf and Joly explored potential collaboration avenues, including oil and oil-based products trading, human capital development, and other mutual interests. The officials also delved into Azerbaijan’s global energy projects, SOCAR’s multinational operations, and potential

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International Gas News Oil

Eni Finalizes $300 Million Asset Sale Deal with Perenco in Republic of Congo

20, March, 202420, March, 2024

Italian multinational energy company Eni has successfully concluded a $300 million deal for the sale of select upstream assets to oil and gas firm Perenco in the Republic of Congo. The agreement, initially announced in June 2023, aligns with Eni’s strategic objective of optimizing its operations and concentrating on significant upstream projects within the country. In a press release, Eni emphasized its dedication to harnessing the Republic of Congo’s extensive gas resources, particularly through initiatives

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