KENYA: Kenyans Could Wait Longer for First Oil as JV Partners Seek an Extension of the Field Development Plan Review Period

Project Oil Kenya leading joint venture has called for an extension to the period earlier set for review field development plan submitted on 10th December 2021 saying this will allow … Read More

Africa Oil Reports Q3 2022 Financial Results with Record Realised Oil Price

The Company received one dividend from its shareholding in Prime for $50.0 million(1) in Q3 2022 (first nine-month 2022 total of $212.5 million). Total amount of the dividends received so … Read More

Africa Oil Announces Record Financial Results and 2022 Management Guidance

Highlights Record full-year net income of $190.7 million or $0.40 per share. Cash balance at December 31, 2021 of $58.9 million. Our corporate facility has been fully repaid and $100m of the facility remains available for general corporate purposes … Read More

NAMIBIA: TotalEnergies Makes a Significant Discovery at the Venus Prospect

TotalEnergies has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia. The Venus 1-X … Read More

SOUTH AFRICA: Eco Atlantic Signs Definitive Share Purchase Agreement with Azinam

Further to the announcement on 10 January 2022, Eco (Atlantic) Oil & Gas Ltd. has confirmed that it has signed a definitive Share Purchase Agreement (SPA) to acquire 100% of … Read More

East Africa to Witness Increased Upstream Activity in 2022

The three countries Kenya, Uganda and Tanzania could see investments of over $13 billion in the upstream sector from ongoing exploration and entry in the development stage. This is according … Read More