Africa.Exploration News


Africa Petroleum loses Liberia licenses

Nov 23, 2016

West Africa focused independent African Petroleum is to drop its production sharing contracts for blocks LB-08 and LB-09 after they expired. The PSCs formally expired in June 2016 and since then the firm has been in discussions with Liberian authorities over a possible extension…

Sub-Saharan investment cut by $100 billion

Nov 03, 2016

Capital investment in the oil and gas industry in Sub-Saharan Africa has been cut by US$100 billion over the next five years, according to Wood Mackenzie's latest report on upstream activity in the region. Major oil companies are heavily…

DMWA Resources opens in Africa

May 10, 2016

DMWA Resources, an oil and gas advisory, exploration and production, and trading firm, has begun offering its services on the African continent. The firm will capitalize on the African knowledge and experience of its management, and leverage…

Harsh realities

May 01, 2016

Remaining competitive through the downturn is a tall order for some. Caitlin Shaw, of Quest Offshore Resources, examines how the exploration, drilling and subsea segments are expected to fare through 2017.   The…

South Africa comes under seismic spotlight

Jan 22, 2016

CGG is to start a multi-client airborne gravity and magnetic survey offshore South Africa this month ahead of a new licensing round expected in the region later this year. The Petroleum Agency of South Africa (PASA) has authorized the program…

Statoil enters South Africa with ExxonMobil

Oct 29, 2015

Statoil has completed a farm-in transaction with ExxonMobil, acquiring a 35% interest in the ER 12/3/154 Tugela South Exploration Right offshore South Africa. The remaining interests are held by operator ExxonMobil (40%) and co-venturer Impact Africa (25%)…

Galp gains operatorship off Africa

Oct 27, 2015

Galp Energia entered into an agreement with the Government of São Tomé and Príncipe, and Kosmos Energy for the award of Block 6 offshore São Tomé and Príncipe, offshore Africa. Galp Energia will be the operator of the block with 45% interest…

FPSO market to reach US$8.65 billion in 2015

Jun 11, 2015

The global capital spending on newbuild and converted floating production storage and offloading (FPSO) vessels could reach US$8.65 billion this year, according to consultancy firm Visiongain.  The largest spend will be focused on offshore…

AGR, SP Offshore enter MoU

May 07, 2015

AGR and SP Offshore Energy Services signed a memorandum of understanding (MoU) under which AGR will provide a range of exploration services and the drilling of an ultra deepwater (UDW) well off the Comoros Islands, between Mozambique and the Comoros…

Exploration activity in Africa undeterred by oil prices

Apr 23, 2015

Young Okunna, GlobalData's upstream analyst covering Sub-Saharan Africa reported that the current downturn in oil prices has not slowed down in the region.  Although several firms have cut back on their global exploration budgets, the region continues to attract activity…

PwC: African oil spend rethink required

Feb 17, 2015

Oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, according to an analysis on the oil and gas industry in Africa released by PwC today (17 February)…

General manager changes at INPEX

Jan 26, 2015

Effective 1 February 2015, INPEX will have two new changes in general managers. Toru Akutsu, currently the general manager of the exploration & exploitation unit domestic project division, will become the project general manager of the domestic project division…

Seabird inks West Africa seismic

Jan 19, 2015

SeaBird Exploration has signed a letter of intent for use of the Northern Explorer for a 2D seismic survey offshore West Africa. The survey will cover about 1700km and is worth about US$1.3 million. The project is expected to start in February and last two weeks.

Tullow cuts 2015 exploration spend

Nov 14, 2014

Tullow Oil is to “significantly reduce” its 2015 exploration spend and focus on its West African producing assets, including the TEN development project, amid falling oil prices.  The move will see Tullow’s investment focus on West Africa…

Gabon gas discovery for ENI

Aug 04, 2014

Eni made a gas and condensates discovery in the Nyonie Deep exploration prospect in block D4, about 13km from the coast of Gabon. ENI estimates initial potential in place is 500MMboe. The discovery was made in the pre-salt of Gabon through the NFW Nyonie Deep 1 well…

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