OilNews

Mozambique LNG to boost Real GDP by 800% in 20 years – Standard Bank

Mozambique liquefied natural gas, (LNG) stands to transform the country and entrench it as a leading player in the global LNG industry.  Developing these reserves and scaling up the currently planned LNG facility to its potentially multi-train capacity, will establish Mozambique as one of the largest exporters of LNG, a commodity of increasing global prominence. …

Mozambique LNG to boost Real GDP by 800% in 20 years – Standard BankRead More »

Erin Energy appoints Christopher J. Hearne Senior VP and CFO

Sub-Sahara Africa focused oil and gas exploration company Erin Energy Corporation  has appointed Christopher J. Hearne as Senior Vice President and CFO beginning June 1, 2015. Earl McNiel , the Company’s current CFO, will resign to pursue other interests effective May 31, 2015. Mr. Hearne, 49, will join the Company from Serica Energy Plc, a publicly traded independent exploration and production …

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ExxonMobil, Sterling Energy relinquish Madagascar’s Ampasindava Block

Joint Venture partners ExxonMobil and Sterling Energy have announced that they have signed the relevant documentation with Office des Mines Nationales et des Industries Stratégique OMNIS to relinquish the Ampasindava Block. According to the JV partners this follows a detailed subsurface re-assessment of the prospectivity of the Ampasindava Block by the joint venture and after …

ExxonMobil, Sterling Energy relinquish Madagascar’s Ampasindava BlockRead More »

Soma Oil & Gas Completes of the Processing of the 2D Seismic Data offshore Somalia

Soma Oil & Gas Exploration Limited has announced it has completed the processing and reprocessing of the acquired 2D seismic data carried out by SeaBird Exploration and concluded in June 2014 with over 20,500 km lines of 2D seismic data having been acquired across a 114,000 sq km offshore evaluation area. According to Soma Oil …

Soma Oil & Gas Completes of the Processing of the 2D Seismic Data offshore SomaliaRead More »

Local Content Legislation Must Tackle Challenges Facing Local Players

As the Kenyan government gears on the formulation of a local content legislation that will ensure the participation of indigenous companies in the oil and gas sector experts say for any such law must address various challenges facing local players  for it to be effective. According to CEO at Oil and Energy services Mwendia Nyaga …

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Kenya Chamber of Commerce and Industry to Undertake Investor Advisory Role in Oil and Gas

The Kenya Chamber of Commerce and Industry whose main role is to advocate interest for businesses, provide a platform for networking as well as houses a resource center says it is taking a step forward that will benefit its members in the oil and gas sector. According to KCCI chairman Kiprono Kittony the company will be …

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Africa Oil Receives US$100 Million To Finance Appraisal And Development Work Program In East Africa.

Africa Oil has announced that it has entered into an investment agreement with Stampede Natural Resources S.a.r.l. an entity owned by a fund advised by Africa-focused investment firm Helios Investment Partners LLP to sell, on a non-brokered private placement basis, 52,623,377 of its common shares at a price of CAD $2.31 for gross proceeds of …

Africa Oil Receives US$100 Million To Finance Appraisal And Development Work Program In East Africa.Read More »

Tullow Oil, Africa Oil strike more oil in Kenya’s Blocks 10BB and 13T

The Ngamia field continued to register positive results with the Ngamia 7 appraisal well which was drilled to test the Ngamia oil field’s eastern flank encountering up to 130 metres of net oil pay while Ngamia-8 appraisal encountered up to 200 metres of net oil pay in line with pre-drill expectations. According to the joint …

Tullow Oil, Africa Oil strike more oil in Kenya’s Blocks 10BB and 13TRead More »

Huge opportunities awaiting East African investors especially in transport and construction

Companies in construction and logistics are been urged to take advantage of the opportunities bound to emerge in the oil and gas development phase as the East African region prepares for production. According to oil and gas consultant and former managing director at National Oil Mary Mukinda  the development phase will see an increase in …

Huge opportunities awaiting East African investors especially in transport and constructionRead More »

Environment, Infrastructure, Local content take center stage at 4th Oil and Gas Conference tomorrow

Whereas the 4th Oil and Gas Conference and Exhibition has continuously missed the presence of exploration companies, government officials and policymakers in the past two days discussions tomorrow will see various stakeholders meet the sector industry issues. Today discussions mainly surrounded other sources of energy including Wind, Geothermal and Nuclear. Among speakers set to grace the …

Environment, Infrastructure, Local content take center stage at 4th Oil and Gas Conference tomorrowRead More »