Tharwa Petroleum Company has revealed that it drilled three new wells in Siwa in the Western Desert, in Egypt, of which they all achieved successful results and have been placed on production maps. The company declared this during its General Assembly meeting to review its production in 2015 in the presence of Tarek El-Molla, Egypt’s Minister of Petroleum and Mineral Resources. According to...

Egyptian Petroleum Minister, Tarek El-Molla (photo) on Tuesday revealed that the country will launch a new oil exploration round in the coming week, to offer 11 blocks in the Western desert and the Gulf of Suez. According to him, Egypt also plans to launch two gas exploration rounds this year. Egypt used to be a net energy exporter, but increased consumption and declining output has made the...

Engie has signed a cooperation agreement with the Egyptian National Gas Company (EGAS) for the importation of liquefied natural gas (LNG) to Egypt. The company said the contract was executed during the visit of President François Hollande to Egypt but did not disclose the terms of the cooperation. “Engie and the Egyptian national company EGAS, under the auspices of the Egyptian Ministry of...

Total on Tuesday announced that the Floating Production Storage Offloading (FPSO) vessel for its Egina deepwater field will be received in Nigeria either by March or April 2017. The 200,000 bpd capacity FPSO vessel is currently being constructed by Korea’s Samsung Heavy Industries at a cost of $3.3 billion. According to Ahmadu-Kida Musa, the Deputy Managing Director of Total E & P...

Total Exploration and Production and the Nigerian National Petroleum Corporation (NNPC) have revealed plans to invest $5.7 billion for the development of the Oil Mining Lease (OML) 58 production facilities so as to meet the federal government’s gas flare out policy. According to the Managing Director of Total, Nicolas Terraz, the aim of the OML 58 development projects was to increase the...

Mauritanian journalists Jedna Deida and Babakar Baye Ndiaye who are being sued by the President’s son Badr Ould Abdel Aziz for defamation are yet to know how their ordeal will end. These two, Jiddna Deida, publishing director of Mauriweb, and Babakar Baye Ndiaye, webmaster of Cridem, reported that the President’s son shot a shepherd. Subsequently, they were arrested on April 7, 2017, and...

Swiss group Nestlé just started activities at its Nestlé Pure Life mineral water factory, in Abaji, Nigeria. The unit that was developed for N5.6 billion (about €25 million) will allow for the creation of 111 jobs and help the firm to position its production in the Northern and Western parts of the country. According to Commodafrica, the plant which is to cover 14.6 hectares will also...

Huawei is negotiating with Burkinabe authorities to deploy optic fiber across the country. This was revealed by a source within Burkina’s Ministry of Finance and Economy cited by info-afrique.com. A team of the Chinese group, led by its managing director visited the country to discuss modalities for the development of the National Backbone project. Estimated to cost over FCFA100 billion, the...

Africa’s electrification recently welcomed a new advocate, Africa Power Vision (APV). APV is a joint-venture established by the African Union Commission, the NEPAD agency, Nigeria’s ministry of finance, the UN Economic Commission for Africa and the African Development Bank. It aims to boost the number of people that has access to power across the continent. “APV aims to achieve an 80%...

Standard Bank, Africa’s leading bank in terms of assets volume, mobilized one billion dollars on the international capital market, an official release announced. The South African bank’s bonds were overwritten since initial demand was $600 million. The loan will mature in three years and its rate is 1.2% higher than that of inter-bank loans within the London stock market or Libor....