Circle Oil on Friday, announced the completion of repairs on a pipeline used to transport natural gas from its Sebou field in Morocco. The pipeline was shut in August due to an earth movement close to the town of Kenitra in northern Morocco. The incident resulted in the temporary closure of an Office National des Hydrocarbures et des Mines (ONHYM) owned and operated gas pipeline spur used to...

Hyperdynamics’ wholly owned subsidiary, SCS Corp, together with the Government of the Republic of Guinea have entered into a Second Amendment to the 2006 Production Sharing Contract (PSC). The amendment was executed in accordance with the August 2016 Memorandum of Understanding signed between SCS and the Republic of Guinea. Signed by the Director General of the National Petroleum Office,...

Vaalco Energy has announced that it has temporarily shut-in a well at its Avouma platform offshore Gabon because of a persistent issue with an electrical submersible pump. The company had earlier announced in July, that the primary electrical submersible pump (ESP) failed in the Avouma 2-H well on the Avouma platform offshore Gabon in the Etame Marin Permit. Before starting the secondary ESP,...

Ophir Energy on Thursday announced that its partner, Shell, is making preparations to commence exploration drilling offshore Tanzania, later this year. According to Ophir, the drilling program worth $20 million is scheduled to commence in Q4 and will cover two wells on Blocks 1 and 4 and target more than 1 Tcf of gas.The well on Block 1 will target Kitatange, with an estimated mean...

Through a decree from the White House, US President Barack Obama has lifted the economic sanctions imposed to Cote d’Ivoire for over decade now. The sanctions which were imposed in 2006 during President Georges W. Bush’s term included an embargo on arms, assets freeze and a travel ban for some Ivorian politicians who blocked the peace process initiated in 2003. “Côte d’Ivoire has taken...

The European Investment Bank (EIB) plans to lend Morocco €60 million (about 655 million dirham) to co-finance, with the government, a project to develop Casablanca’s second tramway line. The funds will be poured into the construction of the East-West liaison, between Anoual and Aïn Sebaâ, which will extend over 15 km, but also to expand the first line which goes to Lissafa by 2 km,...

German chemist Bayer has announced yesterday that it has acquired US firm Monsanto for €59 billion ($66 billion). Through this, the firm thus becomes the world’s leading pesticide and seed manufacturer. The deal which values Monsanto’s share at $128 comes at end of four months of talks during which the St-Louis firm rejected, three times, Bayer’s offers. Though slightly below...

Junior mining company Vector Resources signed with African Royalty Company an agreement to acquire a 70% stake in the Maniema gold project, in DR Congo, as well as other gold prospects and exploration permits. According to the agreement, African Royalty will forego its rights in the project, by virtue of an agreement it had signed with WB Kasai Investments Congo (WBK), the former owner of the...

South African investment holding Brait SE announced in a statement published on September 14 that it plans to be get listed on the London Stock Exchange. The Malta-based firm also said it intends to move its registered office to the UK, where it owns many flourishing companies including the Ready-to-Wear store chain New Look and health clubs chain, Virgin Active. “Moving to a major...

On September 14, 2016, the Ivorian government announced that it has selected the Italy-Swiss group Mediterranean Shipping Company (MSC) and Emirati Bilal Group for the project to relocate and expand the container terminal of the San-Pedro Autonomous port (South West). “In the framework of the strategic plan for the San-Pedro harbour which is part of the 2016-2020 National Development Plan,...