Africa | Egypt Oil & Gas - Part 39
Genel Energy Scratches off Malta, Angola, Morocco Programs
Genel Energy says it will pull out of its drilling programs offshore Malta, Angola, and Morocco and record a non-cash exploration write-off of around $480 million in its 2014 accounts The Hagar Qim-1 well on the Area ...
Arawak Halts MENA Cooperation Agreement with Gulfsands
Gulfsands Petroleum plc has provided an update with respect to its relationship with Arawak Energy International Ltd. concerning their strategic cooperation agreement for the acquisition and development of new busines...
Kenya Discovers Oil and Gas in Epir-1 Exploration Well
Tullow Oil PLC encountered oil and wet gas shows over a 100-m interval of non reservoir quality rocks—demonstrating a working petroleum system—by way of the Epir-1 exploration well on Block 10BB in the North Kerio bas...
African Petroleum’s Offshore Prospects in Côte d’Ivoire and Liberia
African Petroleum Corp. has released data from an assessment of its prospective oil resources done by ERC Equipoise Ltd. The resources audit covered African Petroleum’s 90% owned and operated CI-509 and CI-513 license...
Energy Subsidies in Mena Region Drop by $60 billion
Energy subsidies in the Mena region have fallen by US$60 billion and could continue to decline should oil prices drop further, a senior IMF official has said. Oil, gas and electricity subsidies now total $200bn, accor... Nigeria Plans to Diversify Economy Due to Oil Prices
Falling oil prices are a wake-up call for oil producing countries to continue to diversify their economies and minimise spending, a top official from Nigeria has said. The country has set the budget based on $50 (Dh18...
South Africa’s Government Aids Troubled Energy Sector
South Africa’s government has identified assets to sell to help Eskom Holdings SOC Ltd. cover its funding gap, with the first cash injection of 10 billion rand ($870 million) expected by about June, Finance Minister N...
Africa Oil Boom on Hold due to Crude Prices
The dash for resources that saw explorers invest billions of dollars to tap promising oil fields from Ghana on the west coast to Tanzania on the east, is stalling as the global drop in crude prices pushes drillers to ...
