Hyperdynamics says it has received a Presidential Decree signed by the President of the Republic of Guinea, Alpha Condé (photo), effecting the agreed terms for an offshore block in the country. The oil and gas exploration company, which has an offshore block in the country, signed the Second Amendment to its Production Sharing Contract which was approved by the government on September 15, 2016,...

Ghana National Petroleum Corporation (GNPC) has announced plans by the World Bank to provide about $500 million to Ghana in the form of a partial risk guarantee for use, if the country fails to perform its obligations on payments for gas from the Sankofa field. The guarantee offers security to Ghana regarding the gas expected from the $7.9 billion offshore oil and gas field being...

Sea Dragon Energy (SDX) plans to increase its investment budget in South Disouq concession to $17m rather than the initial $9m stated in the signed agreement with the Egyptian Ministry of Petroleum, the company’s General Manager in Egypt, Ahmed Farid Moaaz, revealed. According to Moaaz, under the agreement signed with the Ministry, only one well will be drilled in the Phase 1 of the...

Solo Oil on Friday announced that a rig contract has been signed for the drilling of the Ntorya-2 appraisal well in the Ruvuma basin.The Carol 2 drilling rig, which is presently located on the Ntorya-1 well pad, will soon be mobilized to the Ntorya 2 pad, which is 1500m away. According to the company, the contract is for one well, with an option for a second well. “We are delighted that the...

The Mozambican government is in talks with Dionnex Energy concerning the terms for oil and gas exploration by the company in the Palmeira region, in Maputo province. The U.S oil company has expressed its readiness to invest $100 million in the phase 1 for seismic and aerial surveys, and any further increase in the amount of investment is subject to the results of these surveys.This was...

Eland Oil and Gas on Thursday announced that it is assessing its portfolio in West Africa, as a result of an interruption on one of its main fields.Output was interrupted from the Opuama field on the OML 40 licence in Nigeria, after the Forcados terminal shutdown in mid-February. The shutdown came after militants attacked the Forcados pipeline in the Niger Delta region. The Aberdeen-based firm,...

Speaking during a show broadcasted on Seneweb, Senegalese former international civil servant said no country, Senegal included, can develop while unable to make the management of its land a priority. Multinationals would thus not be a viable option for the exploitation of agricultural lands. According to Fall, illicit land grabs in Senegal hurt not only local populations but the whole economy...

The organization for economic co-operation and development (OECD) scaled down on September 21st, for the third time in the year, its forecasts for global growth for 2016 and 2017, mentioning a weakening global trade and Britain’s exit from the European Union (Brexit). The OECD now expects global economy to grow by 2.9% in 2016, thus 0.1 pt less than it did earlier in June, and 0.4 pt than at...

In Angola, all efforts seem to be put into developing agriculture. Indeed, the Angola Sovereign Wealth Fund (FSDEA) just announced an investment of $250 million to develop seven large farms. The farms will be situated in the provinces of Bié, Cunene, Malanje, Moxico, Kuando Kubango, Uige and Zaire. The fund in a statement said they will extend over 72,000 hectares which will be allocated...

Eni has increased the Baltim South West field’s potential to 1 trillion cubic feet of gas in place, after it encountered more gas on the recently drilled Baltim South West 2X appraisal well. This well came across a gas column of 102 meters in total, of which 86 meters net is in two sand layers of messinian age with excellent reservoirs. The new well has increased the gas potential of the...