The Buzz – This week in Africa
Brent Crude is trading at $66.34, WTI at $57.37 and natural gas at $2.81 per million BTU (at 15:04 in South Africa). Here are AOPs top news stories from the last seven days.
Woodside awards FEED contract for FPSO in Senegal
MODEC International has been awarded a contract for Senegal’s first Floating Production Storage and Offloading (FPSO) vessel by Australian company Woodside Energy.
MODEC will be responsible for the vessel’s Front-End Engineering Design (FEED) and will also manage the supply, charter and operations of the FPSO, subject to a final investment decision (FID) to be taken later this year.
Kosmos Energy seeks farm-down in Senegal
After the final investment decision was taken last December by the BP-led joint venture, Kosmos Energy, expressed its intention to decrease its participation to around 10 percent in the Grand Tortue Ahmeyim Complex, offshore Senegal and Mauritania.
The company currently holds a 28 percent stake.
Sinohydro to construct hydropower plant in Senegal
Sinohydro and the Organisation for the Promotion of the Senegal River (OMVS) signed a contract for the construction of a hydropower plant in Koukoutamba, Republic of Guinea.
The new plant will be built on the Bafing River, close to Koukoutamba north-east of Conakry.
Angola defines oil-licensing strategy
Angola’s Ministry of Mineral Resources and Petroleum identified 55 blocks that will be licensed between 2019 and 2025.
The strategy will ensure the replacement of reserves, promoting the exploitation activity in a rational and adequate manner, as well as promote the exploitation of natural gas.
Minister announces new start date for oil production in Uganda
Uganda’s oil production was pushed forward to 2022 after the country missed its target of 2011. The delay is due to a lack of refining facilities, as well as lacking pipeline infrastructure.
South Africa focused on clean energy
South Africa’s Ministry of Energy said it is aiming to expand into cleaner power generation from renewable energy. The focus on renewables is part of various commitments the country has made to combat climate change.
Luanda refinery to quadruple gasoline output
Sonaref Chairman, Joaquim de Sousa Fernandes, announced at a press conference held by Sonangol on Monday that the Luanda Refinery would augment its gasoline output by four times its current production due to a partnership agreement between Angola’s national fuel company, Sonangol, and Italian multinational oil company, Ente Nazionale Idrocarburi (ENI).
Kenya secures geothermal drilling project in Ethiopia
Kenya Electricity Generating Company (KenGen) secured a contract to provide geothermal drilling services to state-run Ethiopian Electric Power (EEP).
The contract was awarded in December 2018, with the signing ceremony taking place last week.
DMWA Resources withdraws bid for Lagia oil asset in Egypt
DMWA Resources, has withdrawn its bid to acquire the Lagia oil producing field in Sinai, Egypt.
The company is exploring other marginal oil and gas field acquisitions across Africa.
Sidi R’cine oil refinery inaugurated in Algeria
Algeria’s Sidi R’cine oil refinery was officially inaugurated by Algerian officials last week. The rehabilitation and extension work on the pre-existing refinery had been awarded to French company, TechnipFMC in 2010, but in 2015 the contract was broken due to considerable delays.