British-African Giant Tullow Oil Plc has expressed optimism about the status of its development projects in East Africa saying it’s nearing Final Investment Decision (FID) The revelations are contained in the Company’s November Trading update, which details the current project status and the business projection of the last quarter of the company’s Financial year. Tullow
Danish Oil giant Maersk Oil has entered a farm-out agreement with Canadian based Africa Oil Corporation to acquire 50 percent stake in three of the latter’s onshore exploration licences in Kenya and a further two in Ethiopia. The exploration areas in question cover the Turkana region of northern Kenya and southern Ethiopia. According to a statement
The Government of Uganda through the Ministry of Energy and Mineral Development issued the bidding document to the 16 Qualified Applicants for the licencing round of six blocks. The bidding and competitive process will close on 15th January 2016 with submission of bids. The bidding document comprise of Request for Proposal, Model Production Sharing Agreement
ANALYSIS A decade of decadence has come to an end for African oil producers. International oil prices have fallen from last summer’s $100 per barrel highs, to averages of $56 in the first half of this year. After generating hundreds of billions of dollars in wealth over a commodities super-cycle, Africa’s big oil producers are
Uganda and other Prospective Africa oil producers should reconsider capital inputs undertaken at the upstream stage of the oil and gas industry, to insulate society from the economic mayhem this can create. The call was made at a stakeholders meeting organised by The Leo Africa Forum, an organization created to provide a platform for quality dialogues on
The huge oil and gas deposits in East African region if managed could be an important driver of economic development, a recent survey says. The report titled “Oil Governance in Uganda and Kenya” is born out of a study undertaken by UNEP-WCMC for the MacArthur Foundation, from November 2013 to May 2014 and updated in
KAMPALA Uganda president Yoweri Museveni is expected to deliver a keynote address at Uganda International Oil and Gas summit (UIOGS) in Kampala, Global Events Partners, the organizer of the event has confirmed. The president will head the government delegation at the Summit expected to link oil industry players in Uganda, the region and stakeholders across the
Russian multinational RT Global Resources is discussing details of its role in the Uganda Refinery construction project in the coming Uganda International oil and gas summit in Kampala, the organizer confirmed. “RT Global will discuss its role in building and operating Uganda’s $2.5 billion crude oil refinery, which will process hydrocarbon reserves situated along its
Mozambique announced closure of the Fifth Licensing round of 15 blocks with hydrocarbon potential in the offshore areas of Rovuma, Zambezi and Angoche, and the onshore areas of Pande-Temane and Palmeira on July 30, 2015. Following a call for applicants that commenced in October 2014, the nation emerged from the Request for application process with seven
Uganda Ministry of Energy and Mineral development concluded the evaluation process of the applicants of the first Licensing Round for Petroleum Exploration, Development and Production of six blocks in the oil rich Albertine graben. According to the permanent secretary ministry of Energy, Dr. Kabagambe Kalisa, Technical competence, Financial capability, Legal qualification and National content and