EMAS AMC secures  contracts worth over $65 million

EMAS AMC secures contracts worth over $65 million

Leading contractor and provider of integrated offshore solutions to the oil and gas industry Ezra Holdings has announced that the Group’s Subsea Services division, EMAS AMC, has secured multiple contracts from various energy companies valued at more than US$65 million (including options). Scope of work includes project management, engineering, and transportation and installation works for … Continue reading

Kenya’s Block L6 farmout pushed further to late 2015

Kenya’s Block L6 farmout pushed further to late 2015

Block L6 operator Australian explorer Far Ltd has said it does not expect a farmout deal on the northern extent of the block until late in 2015. In the offshore portion where the company holds 60 percent paying interest Far says it continues to progress with a farmout initiative. The deal was initially expected to … Continue reading

BG Group and KBR signs global alliance

BG Group and KBR signs global alliance

BG Group has signed a global alliance with KBR that will enhance the company’s capacity to deliver commercially attractive oil and gas projects around the world. The single-partner alliance, which has been signed for an initial six years also has options to extend to up to 10 years and will involve KBR’s experienced engineers and … Continue reading

Experts call for clear tax policies on farm down transactions in Kenya

Experts call for clear tax policies on farm down transactions in Kenya

Tax experts Deloitte East Africa have expressed fear that the unclear tax policy position on farm down transactions may be a draw back with the potential to derail the momentum in the industry. The experts took issue particularly with the assumption by policy makers that all farm down transactions generate windfall profits warning that this … Continue reading

Caterpillar expects tough 2015, restructuring anticipated

Caterpillar expects tough 2015, restructuring anticipated

World’s leading manufacturer of construction and mining equipment Caterpillar has said it expects a tough 2015 as a result of the modest improvement anticipated globally as well as the continued weakness in commodity prices—particularly oil, copper, coal and iron ore as to which the company depends on for its sales. The company adds to undertake … Continue reading

Mozambique’s extractive sector revenue triple boosted by capital gains tax

Mozambique’s extractive sector revenue triple boosted by capital gains tax

Revenue from the extractive sector in Mozambique hit almost $400 million in 2012 thanks to the introduction of capital gains tax in the country according to a new report by the Extractive Industry Transparency Initiative, EITI. The rise in revenue is largely attributable to the US $170m capital gains tax (CGT) payment made by the … Continue reading

Afren reviews its capital structure to solve liquidity and funding requirements

Afren reviews its capital structure to solve liquidity and funding requirements

In light of the significant dislocation in the industry and related financing markets resulting from the rapid decline in oil prices Afren says its board has been reviewing the funding and liquidity requirements of the business and seeking to address how it manages the overall leverage position of the Company. The Company had a cash … Continue reading

Tony Blair top speaker at Africa’s biggest mining conference

Tony Blair top speaker at Africa’s biggest mining conference

Former British Prime Minister Tony Blair has been named as the key speaker at the Africa Mining Indaba conference taking place on 9th to 12th February 2015 in Cape Town South Africa. The event that will feature an array of globally recognised economic visionaries, mining thought leaders and some of Africa’s largest deal-makers expects approximately … Continue reading