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Swala Energy farms out block 12B, secures funding for multi-well drilling program

Australian oil and gas company Swala Energy Limited has announced the signing of a binding farm-out agreement for a 25% working interest in Block 12B (Kenya) with an international integrated oil and gas company, that will see Swala free carried through two exploration wells. The principal terms of the farm-out agreement are that the Farmee will: • …

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Somaliland government and Oil companies discuss ways to accelerate oil exploration

Story by Somaliland press Somaliland government officials led by the Minister of Energy and Minerals Hon. Hussein Abdi Dualeh and the representatives of four international oil companies namely Genel ,DNO,RAK GAS, ANSAN WIKFI have this week met to discuss ways to accelerate oil exploration and extraction in the country in 2014 . Hon. Hussein Abdi …

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Taipan completes 2D seismic in Kenya’s Badada prospect

Taipan Resources Inc has reported that an additional 196.2 km 2D seismic survey on Block 2B onshore Kenya has been completed, confirming robust closure at the Badada prospect, formerly known as the Pearl prospect. Processing of the data is now under way and is expected to be completed by mid-March. The data will be used to finalize the …

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East Africa Community lawyers and dons to get training on extractive sector law formulation

The East African Development Bank will from next week train senior policy makers in the East African Community in the extractive sector  with the aim of improving the negotiation and policy making skills. The need for such legislation has arisen following oil and gas finds in the region and the need to have policies in …

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Africa Oil Announces Farmouts in the Rift Basin Area and Adigala Blocks in Ethiopia

Africa Oil has announced that it has received Ethiopian government approval in respect of two farmout agreements with Marathon Oil and New age Ethiopia Limited. Under the terms of the Marathon Oil farmout agreement, Marathon Oil will acquire a 50% interest in the Rift Basin Area in Ethiopia. Africa Oil will maintain operatorship of the …

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WHL Energy signs Seychelles farm-in agreement with Ophir Energy

Australian energy company WHL Energy Limited has signed a farm-in agreement with Ophir Energy plc under which Ophir will farm-in to earn a 75% interest in WHL Energy’s exploration interests offshore the Seychelles. Under the terms of the farm-in, Ophir will fully fund the acquisition of 1,500km2 of 3D seismic, up to a total amount of US$17 million …

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Statoil announces successful test in Block 2 offshore Tanzania

Statoil and co-venturer ExxonMobil have announced the results from their first drill stem test in the Tanzania Block 2 offshore discoveries. The data acquired is important to reduce technical uncertainties in a possible future Tanzania offshore and LNG development. The Zafarani-2 operation tested two separate intervals and flowed at a maximum of 66 million standard cubic feet of gas per day, constrained …

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South Sudan says in control of main oil fields in Upper Nile

South Sudan government has said it is in full control of the main oil producing areas of Upper Nile state with production remaining at 160,000 barrels per day. This was said by petroleum minister Stephen Dau on a trip to Paloch an oil complex and processing plant near the border with Sudan which also has …

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Tullow Oil denies oil discovery reports in Ethiopia

British explorer that is carrying works in the South Omo zone has denied reports by US based website Energy and Capital that it had discovered oil in the zone. Tullow Oil said that although drilling had commenced no oil had been struck yet terming the story confusing and poorly written. “Tullow Ethiopia wishes to clarify …

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East Africa lacks extractive industry taxation capacity

Article courtesy of OxfamAmerica Dr. Prosper Ngowi Dr. Prosper Ngowi, an economics professor from Tanzania, said that Tanzania has lost a lot of revenue from the gold sector because of its inability to monitor and collect taxes. “Are we going to miss it this time around with gas? If so, we’ll be the laughing stock …

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