Local Content To Fire Up Africa's Economic Recovery

The African Energy Chamber held its first meeting with its Local Content Committee recently, placing local content development at the core of its activities. With several established markets like Nigeria or Angola and frontier energy markets such as Senegal or Uganda, the oil sector supports several of Africa's economies. As a result, the African local content has become a key priority for government, regulators and industry stakeholders.Issues around the perceptions and understanding of local content dynamics were major topics of discussion. Key points put forward included the need for African governments and companies to develop better implementation of local content policies and come up with new approaches putting entrepreneurship and capacity building as priorities. From financing African starts ups, SMEs and companies to promoting an enabling business environment, it was agreed that African governments and regulators need to rise up to the task and provide for better conditions and environments…

Kariya Energy Set To Acquire Oil And Gas Assets In Various African Jurisdictions

Kariya Energy has announced that it will enter into various definitive agreement to acquire upstream and midstream oil and gas assets in African countries.Kariya Energy's technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.Kariya Energy and its management team's engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities. After spending 16 months reviewing data from various IOC's, Kariya Energy will be pursuing acquisitions of various exploration and development plays either through Farm-in deals or operatorship through risk service contracts, or direct negotiations with sovereign governments.Kariya Energy will continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.Kariya Energy's strategy has focused…

APICORP Posts $54.8m Net Profit In First Half Of 2020

Gross operating income at USD144.7 million and net income at USD54.8 million despite adverse global conditions; Balance sheet grew by 10% to reach USD8.1 billion; APICORP launched a USD500 million countercyclical support package towards easing the financial pressures of the COVID-19 pandemic and oil price fluctuations in the region.The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, announced its half-year results for the six months ended 30 June, 2020. Gross operating income for the period stood at USD144.7 million while net profit reached USD54.8 million. While down from the corresponding period last year at 20% and 22%, respectively, the net profit results are notable under the current market conditions due to the COVID-19 pandemic and oil price fluctuations. The revenue was mainly affected by the decrease in dividends from portfolio companies as well as revaluations in the equity investments portfolio due to the pandemic.Income from APICORP's Treasury and…

DR Congo Expresses Strong Political Will For Gas Monetization Projects

Surrounded by major African oil & gas producers Republic of Congo and Angola, the Democratic Republic of Congo (DRC) has so far remained relatively absent of Africa’s league of hydrocarbons producers. In 2019, only French independent Perenco produced from the DRC, at an average rate of 25,000 boepd from 11 onshore fields.In this context, the administration of President Félix Antoine Tshisekedi has made energy security and investment its top priority, seeking to get massive hydropower projects off the ground but also to diversify the country’s energy basket and create jobs in the process.In yet another decision supporting the development of the DRC’s hydrocarbons industry, President Félix Antoine Tshisekedi requested its Minister of Hydrocarbons, Hydraulic Resources and Power and its Minister of Finance to fast-track legal processes and permits pertaining to the valorization of the natural gas produced onshore by Perenco. The decision was taken at the latest Council of Ministers…

Incorporate Raised Gender Sensitivity Issues In EACOP ESIA Report

By Paul Kato Gender issues during the previous processes to capture data to guide compensation of Project Affected People (PAPs) displaced by the oil refinery and Tilenga projects were not well captured by the relevant authorities including National Environment Management Authority (NEMA) resulting into families bitterly separating and divorcing. The said gender issues were not only missed during data collection but even information provided during the consulting meetings were not clearly indicated in the Environmental Social Impact Assessments (ESIA) report by NEMA. This is likely to happen again during the compensation of East African Crude Oil pipeline (EACOP) PAPs. It is noted that during the oil refinery and Tilenga compensation, many gaps on gender issues, especially for women, girls and unmarried youth, were left out. This contributed to Total’s calling for more comments from CSOs last month. The two ESIA reports did not incorporate gender issues well; for instance, the…

Chevron's E. Guinea, Cameroon Entry Could Be Turning Point for Central Africa's Gas Industry

The recently-announced acquisition of Noble Energy by Chevron for $13bn gives the American major entry into Equatorial Guinea's oil & gas sector, where Noble Energy has interests in the Alba Field (33% non-operated WI and 32% revenue interest), Block O (Alen Field 51% operated WI and 45% revenue interest) and Block I (Aseng Field, 40% operated WI and 38% revenue interest). These assets in Equatorial Guinea represent 94 million barrels of oil equivalent of proved developed reserves and 38 million barrels of oil equivalent of proved undeveloped reserves. In addition, Noble Energy was also the operator Block YoYo in Cameroon and of the deepwater Block Doujou Dak (60% WI) in Gabon, where it was in the process of evaluating recently acquired 3D seismic data.The acquisition has raised several concerns and questions, mostly because these assets are currently subject the CEMAC region's most ambitious gas development project. While the Alba Field…

Total’s Ochanda Wins 2020 IOGP Outstanding Young Professional Award

The International Association of Oil & Gas Producers (IOGP) has presented the 2020 Outstanding Young Professional Award (OYPA) to David Ochanda, Biodiversity Coordinator with Total, Uganda. The award recognises his endeavours in raising awareness of biodiversity and ecological standards when exploring and producing oil and gas in highly sensitive areas. “David’s commitment is a prime example for leadership, innovation and impact. His work takes our industry’s environmental awareness to the next level. It’s a well-deserved win” said Fawaz Bitar, IOGP Chair, at the opening ceremony of the virtual SPE HSES conference. “I am earnestly grateful and profoundly honored for receiving such an important award, the IOGP OYPA 2020. This demonstrates the remarkable inspiration, empowerment and respect I have always received from my seniors and colleagues, not forgetting the great teamwork. The award gives me more strength to challenge myself and perform even better,” David responded in his acceptance speech. This…

South Sudan Promotes Energy Investment, Economic Prosperity Showcase

South Sudan has set 2020 as a year of peace and growth, underlined by the formation of the unity government as well as its active oil and gas sector and sizeable exploration opportunities. Before COVID-19 sent the global energy sector into turmoil, the swearing in of the new transitional government on February 22, 2020 sealed the 2018 peace deal and united South Sudan's opposition parties, leading the country to elections in three years. In the oil and gas sector, Hon. Puot Kang Chol was appointed as the new Petroleum Minister and a licensing round was about to be launched.Although the pandemic has delayed these initiatives, South Sudan's commitment to energy prosperity has not weakened. A key part of this effort is the South Sudan Oil & Power (SSOP) Conference & Exhibition 2021, the country's official energy event, which will take place on June 29-30, 2021, following a rescheduling due to…

AfDB Joins $20bn Mozambique LNG Financing

The African Development Bank has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transformational project. The Mozambique LNG Area 1 Project, estimated to cost over $20 billion, is ranked Africa's single largest foreign direct investment to date. It comprises a global team of energy developers and operators, led by Total alongside Mitsui, Oil India, ONGC Videsh Limited, Bharat Petroleum, PTT Exploration, as well as Mozambique's national oil and gas company, ENH. With the signing on 15 July, the Bank joins a global syndicate of commercial banks, development finance institutions and export credit agencies to provide the requisite financing for the project. Financial close is expected later in 2020. The project, which benefits from one of the world's largest natural gas reserves off the coast of northern Mozambique, will be the country's first liquefied…

Natural Gas To Change Africa, Says African Energy Chamber Committee

In continuation of recent announcements on the African Energy Chamber's Advisory Board (2020 – 2021), the Chamber is delighted to announce the nominations on its Natural Gas Committee. The committee will be instrumental in advising the Chamber on several projects and initiatives to boost investments into gas infrastructure across the continent, and develop gas awareness campaigns to drive up demand and consumption. The Natural Gas Committee of the Chamber's Advisory Board is made up of:Nosizwe Nokwe-Macamo, Executive Chairman & Founder, Raise Africa InvestmentsJorg Kohnert, Managing Director, Jagal EnergyEric Williams, President, Royal Triangle Energy SolutionsAnn Norman, General Manager – Africa, Pioneer EnergyPierre Raillard, Head of Business Development, Orca ExplorationJeff Goodrich, former CEO, OneLNG and former COO, PerencoCommittee members gather decades of experience in the public and private sector all across Africa, and share a common belief in the power of natural gas to propel Africa's economic development.From Senegal to South Africa,…
Subscribe to this RSS feed

Kampala