Africa's Oil, Gas and Energy News.
Project Oil Kenya leading joint venture has said it is waiting for the Government of Kenya to review field development plan submitted 10th December 2021 before the JV can undertake … Read More
After weeks of speculation of an Indian company entering the Kenyan upstream sector scene accompanied by media reports of an Indian oil refiner eyeing the Lokichar basin a meeting between … Read More
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
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
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
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
Africa Oil has announced a number of positive amendments to its Corporate Facility. All lenders have approved increasing the available amount to $100 million from the current unutilized amount of … Read More
Prime has distributed a US$100 million dividend with a net payment to Africa Oil of US$50 million related to its 50% shareholding. Since acquiring its 50% shareholding in Prime for a cash consideration of $520 … Read More
Tullow Oil has said it has increased its capital expenditure by $5 million to take account of revised Kenya expenditure according to its latest trading update. In its earlier report … Read More
The total gross capital expenditure (capex), which covers both the upstream and the pipeline to First Oil, is expected to increase to $3.4 billion as the KJV revised the previous … Read More
