Oil and Gas news in Africa (Exploration and Development) - Page 4 - SkyscraperCity
 

forums map | news magazine | posting guidelines

Go Back   SkyscraperCity > Continental Forums > Africa > General Forums > Business, Economy and Infrastructure

Business, Economy and Infrastructure Our architecture, infrastructure, transport, economy and other related discussions


Reply
 
Thread Tools
Old April 23rd, 2016, 06:54 PM   #61
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:www.ogj.com
TE-6 exploration well spudded in northeastern Morocco
Quote:
After nearly a decade, Moroccan national oil firm Office National des Hydrocarbures et des Mines (ONHYM) commenced drilling on its Tenerara Lakbir permit targeting Triassic sandstones at a total depth of 2,640 m. The Tendrara permit lies in the Oriental region’s Figuig province in northeast Morocco, 120 km from Gazoduc Maghreb Europe (GME) pipeline that connects Algeria and Morocco to the Spanish-Portuguese gas grids.

The TE-6 well is in the High Plateau basin, near the town of Maatarka. The permit area is subdivided into eight blocks and covers 14,500 sq km. Seven wells have been drilled in the permit, five have been gas bearing and two have tested successfully. The SBK-1, drilled in 2000, had a peak rate of 5.5 MMcfd (OGJ Online, Aug. 30, 2000). The most recent well, TE-5, was drilled in 2007 and had flow rates of 1.5 MMcfd (OGJ Online, Mar. 30, 2007).

ONHYM’s partners include Oil & Gas Investment Funds (OGIF) and Sound Energy Morocco (SEM). OGIF was granted the Tendrara Lakbir permit in April 2013, and has followed up with seismic interpretation and petroleum evaluation. In June 2015 SEM acquired a 37.5% on Phase I of the license through a farmin agreement.

SEM will assume operatorship of the license and take a 55% working interest in Phase II of the project, which will include two additional exploration wells. OGIF will retain 20% and ONYHM, 25%.

In addition, SEM entered into a field management agreement with Schlumberger Ltd. in December 2015, in which the service contractor agreed to fund a portion of the first three Tendrara wells and provide technical services, equipment, and personnel to SEM in exchange for a share of future production................See more
bidonv no está en línea   Reply With Quote
Sponsored Links
Advertisement
 
Old April 24th, 2016, 03:58 PM   #62
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Uganda picks Tanzania for its oil pipeline route


Uganda has picked Tanzania to build a pipeline for its oil instead of Kenya.

This was confirmed during a meeting of the 13th Northern Corridor Integration Projects Summit which kicked off in Kampala on Thursday, in which countries of the East African Community bloc were represented.
__________________

bidonv liked this post
Umoja no está en línea   Reply With Quote
Old April 24th, 2016, 08:03 PM   #63
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:enterprise.press
Zohr in limbo as Eni cuts jobs, LeAnne Graves writes
Quote:
The development of Eni’s supergiant gas field Zohr is “in limbo” as Eni has begun to downsize its upstream division in Egypt, LeAnne Graves writes for The National. Despite Eni’s claims of drilling appraisal wells successfully, one company source said Eni “fired all of the expatriates from exploration.” There could still be hope, Graves says, quoting a geopolitical analyst who says that Eni could be “focusing all of its cash on developing the Zohr and is not interested in other exploration opportunities because this is a full plate.” The Oil Ministry would disagree, announcing on Saturday that construction has begun on the onshore gas treatment facility servicing the Zohr field in Port Said by both Petrojet and Enppi, as well as the drilling of well four of the Zohr field..............See more
bidonv no está en línea   Reply With Quote
Sponsored Links
Advertisement
 
Old April 26th, 2016, 01:42 PM   #64
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:www.ogj.com
Despite losses, Aminex moves ahead on second Tanzania producer
Quote:
Aminex PLC plans to move ahead on its Ruvuma block onshore southern Tanzania near the Mozambican border. The company reported a loss of $3.78 million for 2015 but noted, “2016 will be the year when Aminex begins to reap rewards from a decade of exploration and development in Tanzania.”

In 2012, the Ntorya-1 well flowed at a maximum rate of 20.1 MMscfd of gas and 139 b/d of 48° gravity condensate (OGJ Online, June 28, 2012). At the time, the company cited a strong commercial potential for the discovery but has been slow to develop the region.

Aminex completed a new seismic program in the vicinity of its Ntorya-1 discovery in 2015, the design of which is being used to identify the channel fairway associated with the Teritary and Cretaceous reservoirs test in the Ntorya-1.

The company is obligated to drill a minimum of four exploration wells by yearend. Ntorya-2 will spud this summer to appraise Ntorya-1, with Ntorya-3 following to test the main channel system.

Earlier this month Aminex subsidiary Ndovu Resources Ltd. started gas production from its Kiliwani North field on Songo Songo Island, 15 km off mainland Tanzania (OGJ Online, Apr. 7, 2016). Once commercial rates have been established, the field is expected to produce at a rate of 25-30 MMcfd. The company will sell gas directly at the wellhead for a price of $3.07/Mcf.

The regional gas pipeline, under construction through 2015, was developed by Tanzania Petroleum Development Corp. Aminex noted the pipeline increases commercial potential for further discoveries in its Ruvuma basin acreage.

Aminex is Ruvuma block operator with 75% interest, and Solo Oil PLC has 25%..........See more
bidonv no está en línea   Reply With Quote
Old April 27th, 2016, 03:24 PM   #65
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:sputniknews.com
Algeria Could Cooperate With Russia's Gazprom on Shale Gas

Quote:
Algeria and Russia could cooperate in the field of shale gas extraction, Prime Minister Abdelmalek Sellal told his counterpart Dmitry Medvedev.

GORKI (Sputnik) — Algeria could cooperate with Russian energy giant Gazprom on the extraction of shale gas, Algerian Prime Minister Abdelmalek Sellal said Wednesday.

"Gazprom has certain plans for cooperation with us. We are considering shale gas development. Algeria is the second or third country when it comes to shale gas volumes, and we can really find a way to cooperate in this field," Sellal said at a meeting with his Russian counterpart Dmitry Medvedev..........See more

bidonv no está en línea   Reply With Quote
Old April 28th, 2016, 09:12 PM   #66
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:www.ogj.com
Eni advances plans for Zohr gas processing plant

Quote:
Eni SPA is moving forward with plans to build the first of two natural gas plants in Egypt as part of its program to increase processing capacity for gas from its deepwater Zohr development in the Mediterranean offshore Shorouk concession (OGJ Online, Mar. 10, 2016; Feb. 26, 2016; Sept. 7, 2015).
Construction is already under way on the planned processing plant and associated gathering installations in Port Said, the Egyptian Ministry of Petroleum said.
The processing plant follows Eni’s decision to accelerate production from Zohr field, the first two development phases of which previously were to use existing infrastructure and processing capacities.
With the Zohr development now on a fast track, however, the company amended the project scope to add more onshore processing and pipeline capacities to accommodate the 2017-19 startup timeline, according to Eni’s Mar. 18 strategy update for 2016-19.
Contracts were signed and civil works already under way for the plant as of March, Claudio Descalzi, Eni’s chief executive officer, said at the time.
Expedited as part of an effort to reduce costs and financial exposure, Zohr’s accelerated 1-bcfd startup phase is scheduled to begin production from six subsea wells connecting via a gas pipeline to the onshore plant at Port Said by yearend 2017 (OGJ Online, Feb. 22, 2016).
The project’s second phase, or the accelerated ramp-up-to-plateau, will add another 14 wells to boost production to 2.7 bcfd from 2019.
Second-phase plans also include another gas line as well as an additional onshore processing plant, according to a January presentation from Eni.
The two gas processing plants will each host four processing trains of 350 MMcfd each.................Read more
bidonv no está en línea   Reply With Quote
Old May 4th, 2016, 03:24 PM   #67
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:www.ogj.com
Production resumes from Oyo-8 well offshore Nigeria
Quote:
Production has resumed from the Oyo-8 well offshore Nigeria after the Island Constructor light well intervention (LWI) vessel successfully completed work, Erin Energy Corp. reported on May 3.

The vessel was dispatched to Oyo-8 in March for service on the well’s subsurface controlled subsurface safety valve, which failed to reopen after a planned production curtailment on Oyo field (OGJ Online, Mar. 29, 2016).

Erin Energy will now begin a ramp up of production from the well over the next few days to pre-shut in levels of 7,000 b/d of oil. Production from the Oyo-8 and Oyo-7 wells began in May and June 2015, respectively (OGJ Online, June 18, 2015). Total output from the two wells in 2015 was 1.6 million bbl of oil...............See more
bidonv no está en línea   Reply With Quote
Old May 4th, 2016, 03:30 PM   #68
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:www.ogj.com
OTC: Egypt eyes free-market future as gas demand requires more development
Quote:
The recent Zohr discovery in Egypt’s Mediterranean basin has given the country an impetus to further its move to an open oil economy, according Minister Tarek Elmolla of Egypt’s Petroleum and Mineral Resources Ministry (OGJ Online, Mar. 10, 2016).

Among paying down its debt, reforming its subsidy programs, and adjusting natural gas prices, “attracting foreign investment is one of our biggest challenges,” Elmolla told attendees of a May 3 panel discussion at the Offshore Technology Conference in Houston.

Egypt’s daily natural gas demand currently outpaces its production. The country has become increasingly dependent on gas, which makes up 53% of its total energy mix and 63% of its electricity-generating feedstock, Elmolla said.

Speaking on the same panel, Apache Corp. Chief Executive Officer John Christmann said, “With a population of 90 million, Egypt is the largest consumer of natural gas in Africa.” The Houston-based independent has operated in Egypt since 1994. Apache’s onshore development in the country accounts for 19% of overall reserves and 23% of its production as of 2015, Christmann said.

The panel did not shy away from addressing the current low oil pricing environment, and by all indications, Egypt’s potential may supersede any short-term effects of the resulting downturn. “In a sub-$50/bbl world, international portfolios shine through,” Christmann said. Apache is heavily invested in Egypt and the North Sea, “both of which feature long-cycle projects that remain competitive at lower prices,” he said.

Apache also is the largest independent working in Egypt, where the producer is up to 328,420 boe/d. In 2015, Apache netted $400 million from its Egyptian operations, and the country accounts for 40% of its spending—higher than the operator’s US spending at this time.

With this example, the Egypt Ministry of Petroleum is working to modernize the ways in which its oil and gas operations are carried out in the country. While new laws await ratification, in the near future Egyptian exploration will take place through a system that “more resembles a free-market approach,” Elmolla said. This includes segregated controls between the Ministry of Petroleum, an independent regulating body, and with both national oil companies and independents working within that system.

Matt Loffman, manager at Douglas-Westwood, projected that worldwide gas demand will increase 40% through 2035. As the next generation of the power generation industry phases out coal, Egypt stands to increase its ranking as a global gas supplier. But Egypt’s demand also is expected to double over this time, Loffman added. Douglas-Westwood predicts that Egypt’s gas production will reach 2 million boe/d by 2022.

Egypt’s government is addressing this future demand in several ways. In addition to the fast-track approach of developing the Zohr prospect (OGJ Online, Apr. 28, 2016), which broke ground in March, there remains an abundance of exploration and development opportunities. Elmolla cited a 223 tcf potential in the Nile Delta, along with unknown quantities in the underexplored Upper Egypt and Red Sea regions. In addition, the ministry is currently carrying out a 3D seismic program for the West Mediterranean in the offshore Herodotus basin.

Elmolla said Egypt plans to add 6 bcfd to its production in 5 years, which will include $35 billion invested in expanding the country’s infrastructure. As refining capacity is expected to see a 10% increase to 31 million tonnes/year in the same period, investments will also add 1,100 km of oil and gas pipelines in the country.

Egypt will offer up to 28 blocks for a bid round in several weeks, Elmolla confirmed.........See more
bidonv no está en línea   Reply With Quote
Old May 4th, 2016, 05:09 PM   #69
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

By:www.reuters.com
Algeria's gas exports to EU set to rise 15 percent in 2016: official
Quote:
Algeria expects to increase natural gas exports to Europe by 15 percent to over 50 billion cubic meters this year, more than recovering from the drop since 2013 as output rises from existing and new fields, a top industry official said.

The North African OPEC member, the fifth-largest supplier of gas to Europe, is due to host talks with European Union officials and oil companies later this month on future gas supplies, as current contracts are due to expire in 2019-2021.

Algerian gas exports to the European Union have been increasing since the fourth quarter of 2015, with the pace stepped up this year, said Omar Maaliou, the national oil company Sonatrach's deputy general manager in charge of marketing.

"We anticipate a 15 percent increase in our exports (to Europe) in 2016 compared to 2015," he told Reuters.

"We already recorded significant growth in the first four months of 2016 as exports by pipeline and LNG recorded a growth of over 30 percent compared to the same period in 2015."

Two new liquefied natural gas plants were commissioned in 2013 and 2014 in addition to the existing plants. It also uses three export pipelines, two to Spain and one to Italy.

Algeria exported over 44 billion cubic meters of gas in 2015 to Italy, Spain, France, Turkey, Portugal and Greece, the official said, down from 48 billion cubic meters in 2013 and 45 billion cubic meters in 2014.

"The decline in recent years (between 2011 and 2015) is mainly due to the international economic crisis and the overall decline in consumption of natural gas in our core markets in Europe," Maaliou said.

"In parallel, we recorded an increase in internal consumption."

He said that 2016 will be a year of growth in hydrocarbon production with the start of production from new fields and increased volumes from existing fields.

Four fields in the southwest and southeast are expected to come online in 2016.

Longer term, Algeria, with the world's third-largest potential shale gas reserves, may turn to developing those non-conventional sources to sustain deliveries to the EU market, energy analysts say. But shale remains a politically sensitive subject in Algeria and even exploration is in its infancy.

Algerian government and industry officials are due to meet with their European counterparts on May 23 and 24 in Algiers to discuss how to continue cooperation on gas, renewable energy and energy efficiency.

Most of the current long-term gas export contracts between Algeria and European customers are due to start coming to an end in 2019 and 2020. While the EU is keen to diversify its sources of supplies to avoid a dependence on Russian gas, EU governments are likely to seek to renegotiate prices with Algeria in the light of current market conditions, industry analysts say.

"The contracts with Italy expire in 2020, Spain in 2021, France and Turkey in 2019, it means that we are in a negotiation phase for the renewal of contracts," Maaliou said. "We can answer the EU demand for gas even for the long term.".................See more
__________________
Calendrier jours fériés en Algérie

chkil, mouadh25 liked this post
bidonv no está en línea   Reply With Quote
Old June 29th, 2016, 07:44 PM   #70
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Museveni sets 2020 deadline for oil & gas finds to start flowing
__________________

bidonv liked this post
Umoja no está en línea   Reply With Quote
Old July 15th, 2016, 09:10 PM   #71
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Ivory Coast aims to double oil and gas production by 2020
__________________

BenjaminEli, bidonv, Hadrami liked this post
Umoja no está en línea   Reply With Quote
Old August 7th, 2016, 07:02 PM   #72
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Uganda Energy ministry to award 3 licenses to France's Total


Uganda's energy ministry plans to award three oil production licenses to France's Total. The areas covered by those licenses include Ngiri, Jobi-Rii and Gunya fields in the Albertine rift basin. Commercial crude reserves were discovered in the east African country a decade ago, but production has been repeatedly delayed amid wrangling over tax policies and field development strategy. The absence of key infrastructure, such as a crude export pipeline, has also retarded progress. The new licenses will be valid for 25 years and can be renewed for an additional 5 years.
Umoja no está en línea   Reply With Quote
Old August 9th, 2016, 12:07 AM   #73
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Quote:
Tanzania plans US$30mn gas plant investment in Lindi

The Tanzanian minister for energy and minerals, Sospeter Muhongo, has announced that the government will invest at least US$30bn for the construction of a gas processing plant in Lindi region

Speaking at the official launch of the Nanenane exhibitions in Lindi, Muhongo said the government is already embarking on the grand plan and that Lindi residents and Tanzanians in general should expect economic revolution in a few years to come.

I would like to ensure Lindi residents and Tanzanians in general that our economy is going to grow at a high speed, we are going to invest at least US$30bn in the construction of gas processing plant,” he said.

Muhongo pointed out that for the gas plant, the government will be required to construct about 200 km of gas pipes from the sea to the plant. Given the large scale of the project, the project requires huge amount of investment, high skilled and experienced personnel as well as good supervision and is likely that it will take many years to complete.

According to the minister, upon completion of the project, the government will be able to process gas and thus boost the country's economy.
The project is expected to increase earnings for the government through consumption of natural gas while at the same time provide opportunities to improve such sectors as health, aviation, sea ports among others.
Muhongo also added that since the discovery of natural gas in Tanzania, the economy has witnessed tremendous growth, with 70 per cent of power generation coming from gas, which is currently serving more than 30 industries in Dar es Salaam.
http://www.oilreviewafrica.com/gas/g...tment-in-lindi
__________________

batuzpisces liked this post
Umoja no está en línea   Reply With Quote
Old September 20th, 2016, 04:49 PM   #74
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Quote:
Tanzania: Gas distribution network project to commence

A gas distribution network initiated by the Tanzania Petroleum Development Corporation (TPDC) is preparing to take off, with an estimated 30,000 households to benefit.

In Tanzania, TPDC’s senior petroleum engineer, Modestus Lumato, confirmed that the gas distribution network initiative has received a boost from acclaimed investors, The Citizen reported.

After surveying the financial market for almost two years, Lumato revealed interest shown from the Japan International Cooperation Agency (JICA) as well as the African Development Bank (AfDB).

After a detailed design for the project in 2014, we have been looking for the financiers, and the two have finally shown interest."Lumato said.

Gas distribution network project

Lumato further noted that initially the project was estimated to cost $741 million however there might be changes due to time.

The petroleum engineer added that other factors that have to be considered for the updated project will now include the Rapid Bus Transport (BRT), which was not reflected in the earlier design.

The government plan is to change the RBT system from using petrol to natural gas, which automatically means the cost has to change,” he said.

Natural gas stations

According to media, Lumato assured that updating the project design should not be a timely process as they will utilise the services of the existing consultant.

He added that once the design has been updated they expect to commence with the project, which is estimated to take at least 15 months to complete.

It is reported that according to the initial design, TPDC expects to construct at least 15 compressed natural gas (CNG) stations in phases.

The company is said to have stated that the construction of distribution pipelines for households and institutions is expected to be laid in all districts across Dar es Salaam city.
https://www.esi-africa.com/news/tanz...ject-commence/
__________________

bidonv liked this post
Umoja no está en línea   Reply With Quote
Old October 4th, 2016, 09:28 PM   #75
Umoja
Registered User
 
Join Date: Apr 2015
Location: Kinshasa
Posts: 10,226
Likes (Received): 7352

Tanzania and DR Congo team up to explore Lake Tanganyika for oil, gas
Umoja no está en línea   Reply With Quote
Old November 24th, 2016, 11:46 AM   #76
Bourienne
Registered User
 
Bourienne's Avatar
 
Join Date: Dec 2013
Posts: 21
Likes (Received): 32

BP loses $68 mln court ruling over Morocco oil cargo
Quote:
Nov 23 BP must pay more than $68 million to the National Bank of Abu Dhabi (NBAD), a UK court has ruled, in a case stemming from the surprise closure of Morocco's Samir refinery in 2015.

The British energy company sold a cargo of Russian Urals crude to Samir in August 2014 which was not paid for and NBAD took on 95 percent of that debt.

The London High Court ruled that BP did not have the right to pass on the debt. It said the contract between BP and Samir stipulated that there could be no assignment of obligations or rights without reasonable consent and that Samir's consent had not been obtained.

It said NBAD was entitled to claim from BP some $68.9 million plus interest that Samir failed to pay the bank.

BP declined to comment on the judgement.

Trading and oil companies such as Glencore, Vitol and BB Energy are collectively owed around $1 billion by Samir.

Efforts to restart the refinery have so far failed. Liquidator Mohamed el-Krimi said on Monday that he would only consider bids to buy the Samir refinery that included a production restart.

The 200,000 barrel per day plant was shut in August 2015 due to financial difficulties after the government said Samir owed over $1.3 billion in taxes.............SEE MORE
http://www.reuters.com/article/moroc...-idUSL8N1DO2GW
__________________
اللـــه – الوطــن – المــــلــك
Bourienne no está en línea   Reply With Quote
Old November 28th, 2016, 10:32 PM   #77
Rainbow_DASH
♡~Friendship is Magic~♡
 
Rainbow_DASH's Avatar
 
Join Date: Dec 2014
Posts: 4,029
Likes (Received): 927

Umana seeks Malaysia’s backing for oil & gas FZs
Posted By: Groupon: November 21, 2016


Umana and High Commissioner Jim during the meeting

Quote:
Nigeria’s oil and gas free zones should be the first ports of call for Foreign Direct Investments (FDI), Oil and Gas Free Zones Authority (OGFZA) Managing Director Mr. Umana Okon Umana said on Friday.

He said the authority has mouth-watering incentives and benefits to investors, who set up businesses in the free zones.

Umana spoke when he visited the Malaysian High Commissioner, Lim Juay Jim, in Abuja to seek his support for the free zones.

According to him, “the benefits for investors include zero tax from federal, state and local tax authorities; zero levies and rates (that is no corporate tax, withholding tax, value added tax and capital gain tax); 100 per cent foreign ownership; 100 per cent repatriation of profit and dividends; 100 per cent repatriation of foreign capital investment.”

He said other benefits to the investor include streamlined documentation that makes for fast-tracking of all business transactions.

Umana explained to High Commissioner Jim that there were functioning and vibrant oil and gas free zones in Onne, Rivers State; Warri in Delta State and Apapa in Lagos.

He added that the OGFZA was developing additional oil and gas free zones in Brass, Bayelsa State; Ikpokiri, which is contiguous with Onne in Rivers State and Ibaka in Akwa Ibom State.

He told the High Commissioner that the new oil and gas free zones being developed in Brass, Ibaka and Ikpokiri, including the developed ones in Onne, Warri and Lagos, presented viable and irresistible opportunities for investors to take advantage of and become part of the profitable history of Nigeria’s oil and gas industry.

He said there were opportunities for the development of infrastructure such as roads and power plants to provide dedicated electric power for the oil and gas free trade hubs.

Umana explained that attractive opportunities for downstream industries like refineries, manufacturing of pipes for the oil and gas sector and other related industrial goods as well as infrastructure existed for investors in the free zones.

He added that the oil and gas authority was willing to partner with any investors using the public-private partnership (PPP) model to achieve its mandate and business plan.

He said the success recorded in the Onne free zone derived from the PPP business model.

High Commissioner Jim expressed joy at the visit and the presentation made by the chief executive of the OGFZA, promising to visit the OGFZA headquarters with a delegation of Malaysian investors to explore investment opportunities in keeping with the strong historical and economic ties between Nigeria and Malaysia.

The envoy explained that Malaysia has for long seen Nigeria as the economic hub of Africa, explaining that it was Nigeria’s economic weight that made Malaysia to relocate its Africa trade mission from Nairobi to Lagos.

He said though Nigeria was at present going through a recession, Malaysia expects the country to bounce back soon.

Umana was accompanied on the visit by the head of trade and investment at OGFZA, Adamu Kontagora; head of legal department and company secretary, Abduwasiu Sule and Maurice Etim, Chairman of Aurum Energy Maritime and Construction Limited.
http://thenationonlineng.net/umana-s...g-oil-gas-fzs/
__________________
Bearer of the Element of ⚡~Loyalty~⚡
Charity-Compassion-Devotion-Integrity-Optimism-Leadership

https://www.youtube.com/watch?v=yoXD9z03ZWs
Rainbow_DASH no está en línea   Reply With Quote
Old December 14th, 2016, 05:35 PM   #78
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

Indonesia: Pertamina in talks to up interest in Algeria’s oil block

Quote:
More production: State-Owned Entreprises Minister Rini Soemarno (center) along with state-owned oil and gas firm Pertamina president commissioner Tanri Abeng (second left) check out a miniature oil drilling installation during the opening of the Pertamina Energy Forum 2016 in Jakarta on Tuesday. During the occasion the minister encouraged Pertamina to optimize the usage of its domestic energy sources, further explore local oil reserves, commit to developing renewable energy sources and expand overseas. (JP/Jerry Adiguna)
State-owned energy giant Pertamina hopes to become involved in more overseas oil and gas blocks by acquiring a participating interest of Spain’s Repsol SA in Algeria.

Newly appointed Pertamina deputy president director Ahmad Bambang said on Tuesday that Repsol SA was planning to sell its participating interest in the Menzel Lejmat North block in Algeria due to financial issues.

“They have plans to sell their participating interest because their financial situation is not doing well. They plan to sell the whole stake,” he said on the sidelines of the 2016 Pertamina Energy Forum.

According to Repsol SA’s most recent financial report, the company’s downstream adjusted net income for fell 42 percent to €395 million (US$419 million) compared to the same quarter a year ago due to lower refining margins.

Menzel Lejmat North is currently operated by Pertamina, which has a 65 percent participating interest in the block compared to Repsol SA’s participating interest of 35 percent. The block has a production capacity of 50,000 barrels of oil per day (bopd).

Pertamina finance director Arief Budiman said the company estimated its capital expenditure would hover around $5 billion to $6 billion next year. However, Pertamina has yet to include the acquisition of Repsol SA’s shares, and has only accounted for planned acquisitions in Russia and Iran.

“Next year, we have allocated around 60 to 70 percent in the upstream sector. However, the purchasing of participating interests has not been accounted for. If it is included, the figure will increase,” he said.................Read more
bidonv no está en línea   Reply With Quote
Old January 14th, 2017, 08:39 PM   #79
Rainbow_DASH
♡~Friendship is Magic~♡
 
Rainbow_DASH's Avatar
 
Join Date: Dec 2014
Posts: 4,029
Likes (Received): 927

South Sudan renews oil deals with China, Malaysia

China's CNPC and Malaysia's PETRONAS corporations will be able to drill for oil for another 5 years in war-torn country

home > world, africa 06.01.2017
By Parach Mach



Quote:
JUBA, South Sudan: South Sudan signed an agreement on Friday to renew all oil drilling contracts with China National Petroleum Corporation (CNPC) and Malaysia's Petroliam Nasional Berhad (PETRONAS) for another five years.

The world’s newest country is estimated to have Sub Saharan Africa’s third-biggest crude reserves.

The renewal defines the legal and tax system governing oil companies, operating licenses and crude oil transportation installations among several things.

In remarks made to the media in the capital Juba on Friday, Petroleum Minister Ezekiel Lol Gatkuoth said: “We have renewed the oil contracts for five years; the system is being updated to promote exploration and development, and to support oil production in the country.”

The agreement also provides for an extension of the contract till 2022 for the Paloch and Unity oil fields. The production from the two oil blocks is also expected to increase, Gatkuoth said.

“With this package now signed, we will now be moving forward with oil production, especially in places that were shut down,” he said.

This project will add more than 200,000 oil barrels per day in the first half of 2017, the minister said.

Oil contracts had been signed by the government of neighboring Sudan before South Sudan gained its independence in 2011.

CNPC President Jia Yong said: “We will do our best to increase the production and also support the resumption of oil for the Unity oil fields.

“We will work with the Ministry of Petroleum to do our best for this country in terms of economic development.”

Yong called for strengthening joint cooperation as the company resumes oil production in Unity state oil fields. He added that such cooperation would benefit both countries.

The Chinese Ambassador to South Sudan, Ma Qiang, who attended the meeting, said his country was encouraging the CNPC to increase oil production in South Sudan in the interest of the two countries.

Civil war in South Sudan cut oil output by a third to about 130,000 barrels per day. The country is currently only pumping oil in the Upper Nile state after Unity production stalled in 2014.

Before the war, China National Petroleum Corporation, Malaysia’s Petroliam National Bhd. and India’s Oil & Natural Gas Corporation produced most of the oil in the country.

The violence has so far left tens of thousands of people dead and 2.4 million displaced.
http://aa.com.tr/en/africa/south-sud...laysia-/721726
__________________
Bearer of the Element of ⚡~Loyalty~⚡
Charity-Compassion-Devotion-Integrity-Optimism-Leadership

https://www.youtube.com/watch?v=yoXD9z03ZWs

bidonv, batuzpisces liked this post
Rainbow_DASH no está en línea   Reply With Quote
Old February 25th, 2017, 10:41 PM   #80
bidonv
Registered User
 
bidonv's Avatar
 
Join Date: Aug 2010
Location: Skikda-Algeria
Posts: 5,599
Likes (Received): 3586

Source;www.epmag.com
OUTPUT AT ALGERIA'S HASSI MESSAOUD FIELD IS CAPPED PER OPEC AGREEMENT
Quote:
Algeria's biggest oil field, Hassi Messaoud, is currently capping production at 430,000 barrels per day (Mbbl/d) to keep it in line with OPEC's agreement to cut output, a Sonatrach official said late on Feb. 23. Algeria, a major gas supplier to Europe, last year began investing in improving yields at mature fields like Hassi Messaoud and bringing delayed gas fields online in the south, aiming to reverse stagnant energy production. "We could have done more, we could produce more oil, but we must respect our quota," Hassi Messaoud's production chief Ali Neghmouche told Reuters at the field. The North African OPEC member was hit hard by the crash in global oil prices, which hammered its energy revenues. It has been working to increase output, and trim its budget. Oil and gas earnings make up 60% of state spending. Algeria's total oil output was previously estimated at 1.1 Mbbl/d, but it has cut production by 50 Mbbl to adhere to an agreement..............................Read more
bidonv no está en línea   Reply With Quote
Sponsored Links
Advertisement
 


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT +2. The time now is 02:28 AM. • styleid: 14


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2019, vBulletin Solutions Inc.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us