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Local News Oil Petroleum

Sonangol confirms additional oil in “Block Kon 11”

12, January, 202412, January, 2024

Sonangol announced, on Thursday 11th January, in a statement, that it had confirmed the prevalence of oil in a second evaluation well in Block 11 of the Kwanza Onshore Basin, called Kon 11, after drilling operations concluded on December 21, 2023. The document indicates that the operations were carried out by the Exploration and Production Business Unit (UNEP), having occurred “at a considerable depth” and that the drilling, considered “very positive”, resulted in the confirmation of

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Diamonds Economy Local News

Endiama Initiates Asset Assessment and Capital Dispersion Strategy for Stock Exchange Debut in 2027

12, January, 202416, January, 2024

The National Diamond Company of Angola (Endiama) is quantifying the assets, heritage and reserves of all companies and concessions linked to the group, with part of the process for the dispersion of its capital on the stock exchange, starting in 2027. The information was provided by the chairman of the company’s Board of Directors, Ganga Júnior, in an interview given to the publication “The Energy Year”, in which he presented an overview of the company’s

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International Exploration Oil Petroleum

TotalEnergies Increases Stakes in Two Blocks Offshore Namibia

12, January, 202412, January, 2024

TotalEnergies has inked an agreement to increase its participation in two offshore Namibian exploration licenses. The French multinational is set to acquire an additional 10.5% participating interest in Block 2913B – home to the Venus discovery – and a further 9.39% stake in Block 2912 from Impact Oil and Gas, pending approval from Namibian regulators and joint venture partners. If approved, the deal would boost TotalEnergies’ stakes to 45.25% and 42.5%, respectively. Upon completion of

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International News Oil Petroleum

Galp Makes Light Oil Discovery at Namibia’s Mopane-1X Well

12, January, 202412, January, 2024

Portuguese multinational energy corporation Galp – alongside project partners the National Petroleum Corporation of Namibia (NAMCOR) and energy company Custos – has announced the discovery of light oil at the Mopane-1X well in Namibia. Located in Petroleum Exploration License (PEL) 83 in the Orange Basin, the discovery is the sixth in the country since 2022. According to Galp, drilling operations revealed a column of light oil in high quality reservoir-bearing sands. The project partners will

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Local News Transport and Logistics

Port of Lobito Records Improved Ship Movements

12, January, 202412, January, 2024

Angola’s second largest port, the Port of Lobito, has recorded an increase of 7.57% in ship movement since 2022, with 351 ships docked at the port handling 1,332,451 tons of cargo in 2023. Announced by Celso Rosas, Chairman of the Board of Directors of the Port of Lobito, it was highlighted that the port collected revenues of more than $16.6 million in 2023. Despite an increase in ship movements, however, the Port of Lobito recorded

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International Gas News

Gimi FLNG Vessel to Arrive in Senegal this Week

12, January, 2024

Maritime infrastructure operator Golar LNG’s, Gimi Floating Liquefied Natural Gas (FLNG) vessel is expected to arrive in Dakar, Senegal on 12 January, where it will serve the first phase of oil and gas supermajor bp’s, Greater Tortue Ahmeyim (GTA) project, straddling the maritime border of Mauritania and Senegal. Upon arrival, the FLNG vessel will be moored and connected to the GTA hub, where it will produce up to 2.7 million tons of Liquefied Natural Gas

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International News Renewable Energy

France Prioritizes Nuclear Over Renewables in New Energy Bill

12, January, 202412, January, 2024

France has introduced a new energy strategy that sees the development of up to 14 nuclear power plants to achieve carbon neutrality by 2050. The proposed draft law – set to be presented to the Cabinet next month – targets the construction of at least six new European Pressurized Reactors, while an additional eight reactors may be optioned to meet the country’s goal of reducing fossil fuel dependency from 60% to 40% by 2035. Despite

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International Energy Gas News

Invictus Energy Raises $10.2M for Zimbabwe Operations

12, January, 202412, January, 2024

Australian-based Invictus Energy has raised $10.2 million in capital to fund its activities in the Cabora Bassa project in Zimbabwe. The capital infusion was achieved through a private placement, following the initiation of a share purchase plan in early May 2023. “These funds will be invested into extending the recent success of our dual gas discoveries in the Upper and Lower Angwa formations and completion of a highly successful Mukuyu-2 drill campaign,” said Invictus MD

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Local Gas News Oil

Ocean Installer Consortium Secures Contract for Angolan FPSO Work

12, January, 202412, January, 2024

A consortium comprising maritime construction firm Ocean Installer and engineering company Oceaneering has won a contract for work on the Girassol Life Extension (GIR FLEX) project in Angola. Awarded by French multinational TotalEnergies and its partners for Block 17, the contract will extend the production lifecycle of the project to 2031. Ocean Installer will handle transportation and installation services for GIR FLEX, encompassing the recovery of old risers, transportation, and installation of 10 new risers,

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International News Oil

Impact Oil Signs Strategic Farmout Agreement with TotalEnergies for Namibian Blocks

11, January, 202411, January, 2024

Impact Oil has signed a farmout agreement with TotalEnergies EP Namibia to sell 9,39% undivided interest in Block 2912 and 10,5% in Block 2913B in the Orange Basin. Block 2912 is under PEL 91 and 2913B is under PEL 56. Impact Oil’s wholly-owned subsidiary Impact Oil and Gas Namibia (Pty) Ltd and TotalEnergies SE’s subsidiary TotalEnergies Namibia BV signed the agreement. The transaction includes a full carry-on Impact’s retained interest for all joint venture costs,

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