Here is a brief overview of the week’s news on Oil Review Africa, from 18th - 22th December 2017
Global oil storage market set to reach US$17.22bn by 2023: TMR
The global oil storage market is expected to reach US$17.22bn at a compound annual growth rate (CAGR) of 4.2 per cent from 2017 to 2023, mainly due to burgeoning investments by major market players, according to Transparency Market Research (TMR). Click here to read the full story.
World Bank to stop funding oil and gas projects from 2019
The World Bank group has announced that it will cease to finance new upstream oil and gas exploration projects after 2019. Click here to read the full story.
Ampelmann introduces solution to meet IMO’s lifeboat safety regulations
Ampelmann has introduced its Atlas motion-compensated lifeboat exchange system to the oil and gas industry, aiming to achieve a faster, safer and more cost-effective offshore access solution. Click here to read the full story.
Sonangol to increase fuel storage capacity in Cabinda
The Angolan National Oil Company (Sonangol) has announced to increase its stocking capacity in Cabinda from 15,300 cu/m of gas and diesel to 40,000 cu/m by 2018. Click here to read the full story.
Enhancing thermal desalination with Antiscalants and Dispersants: Dow
Dow has introduced a series of water treatment polymers, aiming to prevent scaling or fouling on reverse osmosis (RO) membrane surfaces and hard water scale in industrial, commercial, institutional and public water systems. Click here to read the full story.
Egypt’s Zohr gas field starts production
Eni’s Zohr gas field in Egypt, one of the largest natural gas fields in the Mediterranean region, has started production with an initial 350mn cf per day, a move that aims to make the country self-sufficient in producing energy. Click here to read the full story.
TGS and Schlumberger announce 2D seismic project in Egyptian Red Sea
TGS, the global geoscience data provider for oil and gas exploration and production companies, has partnered with Schlumberger for a new 2D seismic project offshore Egypt. Click here to read the full story.
Eni enters into new exploration permits offshore Morocco
Italian oil and gas giant Eni has signed a petroleum agreement (PA) with the Moroccan State Company ONHYM to enter into the Tarfaya Offshore Shallow exploration permits I-XII, which is located in the Atlantic Ocean offshore the cities of Sidi Ifni, Tan Tan and Tarfaya. Click here to read the full story.
African Petroleum announces updates on SL-03 and SL-4A-10 blocks in Sierra Leone
African Petroleum has announced an update on behalf of European Hydrocarbon Limited and African Petroleum Sierra Leone Limited to the prospective oil resources at the 100 per cent owned and operated licence blocks SL-03 and SL-4A-10 in Sierra Leone. Click here to read the full story.
Sonangol investigates Isabel dos Santos over allegations of "misappropriation of funds"
Sonangol, Angola's state oil company, has announced an investigation into "possible misappropriation" of funds by Isabel dos Santos, the daughter of the former president. Click here to read the full story.
Sonangol and Cobalt announce US$500mn settlement
The Sonangol EP and Cobalt International Energy, Inc have signed an agreement to resolve all disputes between the two companies, including transferring Cobalt’s interests in Blocks 20 and 21 offshore Angola to Sonangol for US$500mn. Click here to read the full story.
USAID promotes strategic partnerships in Ghana’s oil and gas sector
The US Agency for International Development (USAID) and the government of Ghana has organised conference in the Western Region for stakeholders in the oil and gas sector, aiming to improve the competitiveness of local businesses. Click here to read the full story.
