Here is a brief overview of the week’s news on Oil Review Africa, from 3rd - 7th July 2017
Key speakers at the 24th Africa Oil Week announced
This year’s much-anticipated oil, gas and energy event, Africa Oil Week will take place from 23 – 27 October 2017 at the CTICC in Cape Town, South Africa. Click here to read the full story.
US$700mn agreement for development of OMLs 83 and 85 in Nigeria
The Nigerian National Petroleum Corporation (NNPC), FIRST Exploration and Production (First E&P) and Schlumberger signed a tripartite agreement for the development of the Anyala and Madu fields under OMLs 83 and 85, in Nigeria’s offshore Bayelsa state. Click here to read the full story.
AFC to provide US$28mn subordinate loan facility to Tunisia’s Topic SA
Africa Finance Corporation (AFC) announced that it will provide US$28mn subordinated loan facility to independent Tunisian energy company Topic SA's to develop Halk El Menzel offshore oil concession block, also known as Helm Project, in northern Tunisia. Click here to read the full story.
Africa Energy Corp grants incentive stock options as new appointments take effect
Africa Energy Corp, a Canadian oil and gas exploration company, has granted incentive stock options to the Company's senior executive to acquire 2,500,000 shares of the Company at an exercise price of CAD$0.17 per share. The options will have a five-year term and vest fully after three years. Click here to read the full story.
New Baker Hughes to bring fullstream oil and gas solution
Baker Hughes (BHGE), part of the multinational conglomerate General Electric (GE) company, announced that it has completed the transaction with GE's oil and gas business, and will bring together industry-leading equipment, services and digital solutions across oil and gas development. Click here to read the full story.
Gambia approves FAR's 80 per cent stake in offshore blocks
Independent, Africa-focused, Australian oil and gas company, FAR has acquired an 80 per cent working interest and 'Operatorship' in Gambia's highly prospective offshore blocks A2 and A5 from US and South African-listed oil independent ERIN Energy. Click here to read the full story.
Libya's oil production exceeds one million bpd
Libya's oil production has risen to 1.012mn barrels per day (BPD), as reported by Reuters, topping one million barrels for the first time in four years. Click here to read the full story.
ABB acquires KEYMILE’s communication networks business
ABB announced on 3 July that it has agreed to acquire the mission-critical communication business of the KEYMILE Group to strengthen its communication networks portfolio. Click here to read the full story.
Advances in gas technology set to boost energy diversity in Africa
As countries across Africa seeks to diversify its energy sources, gas will continue to play an important role in powering homes, businesses and industries. Click here to read the full story.
