Petroceltic International on Thursday announced that it has finalized the sale of its exploration interests in Egypt to Edison International. After successful approvals from the Government as well as the relinquishment of pre-emption rights held by the Egyptian Natural Gas Holding Company (EGAS), the deal has now being formally completed and funds have been received. The company had announced...

Woodside Petroleum on Thursday announced that it has extended its exploration acreage in Africa by securing interests in waters off Senegal and Guinea-Bissau. The company’s agreement with Impact Oil and Gas allows it to purchase a 65 % interest in a 6700 km² production sharing contract (PSC) in the AGC Profond permit off the coast of the countries. Earlier this month, Impact had...

Victoria Oil & Gas, has signed a deal with Glencore Cameroon and Afex Global regarding the Matanda Block in Cameroon. Under the deal Glencore Cameroon will assign 75% of its participating interest in the Matanda Production Sharing Contract (PSC) to Victoria. This allows the latter to take over the operatorship of the block from Glencore Cameroon, through its subsidiary Gaz Du Cameroun...

Japanese company Sumitomo said it will soon build, in Mozambique and Tanzania, two gas-fired plants totaling a capacity of 350 MW. Mozambique’s plant will be built near Maputo, the capital city, and generate 110MW. Costing $149 million, it should be operational in 2018. The infrastructure, once operational, should meet 20% of the national power demand. As for the Tanzanian plant, it...

The Egyptian satellite company NileSat, plans to expand in Africa and grab the opportunities offered by the digital transition in Africa namely in Tanzania, Uganda, Rwanda, South Sudan, South Africa, Angola and Nigeria. With Terrestrial Digital Television coming online, more channels will be satellite-hosted and NileSat does not intend to miss that train. The Egyptian operator who currently...

Kenya has started reviewing law and regulation governing Islamic finance so as to issue its first Sukuk in the 2016-2017 fiscal year, Reuters reported on Feb 17, citing Attorney General, Githu Muigai. “We are in full flight with the review of the entire regulatory framework governing Islamic finance to facilitate the issuance of issuance,” Muigai said on the sidelines on a conference on...

Speaking concerning the national strategy for renewable energies, Sonelgaz’s CEO, Noureddine Bouterfa said “it is technically a utopia”. Truly, Algeria plans to establish 22GW or 22,000MW of renewable energies by 2035. Bouterfa made the announcement at the opening of the 5th symposium of gas industry association, a few minutes after Minister of Power, Salah Khebri, mentioned this goal....

Eland Oil & Gas has announced that it plans to carry out work overs on its current wells so as to boost production from the Opuama field at a low cost. According to the company, the Opuama field located in OML40 in Nigeria produce very much in 2015, as the Opuama-1 well produced at a rate of 4,500 bopd at the end of the year, considerably higher compared to normal production during the year....

In the framework of 4th edition of the “Un etudiant-un ordinateur” (One computer-One student) programme, the government of Senegal has set aside, this year, a budget of 1.5 billion CFA to provide 20,000 computers to students, SeneNews reported. The budget was disclosed by Aboubacry Niane, director for funding of higher education institutions and national coordinator of the programme, on...

Deustch firm Amtrada just announced it has sold its Ivorian subsidiary Cipexi, specialized in cocoa export, to Swiss trader Origins. The deal which cost Origins €8 million allows it to be introduced into physical market on one hand and puts an end to Amtrada’s romance with Cote d’Ivoire on the other. Fabrice Laurent, one of the administrators of the Swiss trader, told Reuters that...