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West Africa Energy Update: June 2008 June 2008
Co-Chair: Lord Howell of Guildford; Sir Graham Boyce Director: Paul Tempest Advisory Panel: Dr Subroto (Jakarta), Ghayth Armanazi (London), Arne Walther (Riyadh); Robert Ebel (Washington); Dr Wang Tao (Beijing); Tatsuo Masuda; (Tokyo); Robert Priddle (Paris)
West African Energy Update June 2008
Dear Reader, West African energy is seen as one of the best prospects for meeting the energy needs of North America and Europe. West Africa is itself a growing market for domestic consumption of energy as regional economies develop. In this newsletter, you will find the latest information on the West African Governments’ attitude towards private businesses in the energy business, especially in Mauritania, Nigeria and Angola. The United States, feeling threatened by its economy’s high dependence on Middle East energy is in pursuit of chasing Mauritania and Nigeria together with ECOWAS members broadly on this matter. Hence it is crucial to be updated with African energy geopolitics. Please feel free to contact Laura Sandoval on projects@meconsult.co.uk if you would like to hear about the forthcoming WEG program on West African Energy. Kind Regards, Editor: Cem Savoglu MEC International Ltd,Granville House 132, Sloane Street Email: inquiries@meconsult.co.uk
Energy Finance: Nigeria: ’Country Received $60m Loan From IDB - Perm. Sec.Posted to the web 9 June 2008 Lagos Nigeria has received concessionary loans of $ 60 million dollars from the Islamic Development Bank (IDB), an official said.
South Africa: World Bank Approves $145m Budget Support for Ghana Posted to the web 9 June 2008 The World Bank has approved three credits totalling $145 million to support Ghana’s budget under the multi-donor budget support (MDBS) framework.
Ghana oil output debut seen double previous estimate
Tue Jun 10, 2008 6:32pm IST ACCRA, June 10 (Reuters) - Ghana expects start-up oil output in early 2010 of 120,000 bpd, double a previous estimate, in what is welcome news for a strongly-performing economy saddled with a swelling energy import bill now, officials said.
Nigeria: Opec Countries to Invest $160 Billion to Increase Oil Output10 June 2008 Nigeria and the remaining 12 member countries of the Organisation of Petroleum Exporting Countries (OPEC) have concluded plans to commit more than $160 billion (about N19.20 trillion) into crude oil capacity expansion programmes, which are expected to yield additional 500 million barrels per day (bpd) of crude oil to world’s production by 2012.
Shell bring billions despite Nigeria’s oil troublesFiled from Aberdeen 5/27/2008 LAGOS, NIGERIA: Nigeria’s troubled oil industry enjoyed some rare good news today as Shell and the country’s national oil company struck a US$3.1 billion deal.
Paris Club agrees with Togo to cancel $347 mln debtFri 13 Jun 2008, 7:29 GMT PARIS (Reuters) - The Paris Club of creditor nations said on Thursday it had reached an agreement with Togo to cancel $347 million of the country’s debt. Devon completes sale of Equatorial Guinea assetsFiled from Houston 6/3/2008 EQUATORIAL GUINEA: Oklahoma City-based Devon Energy Corp. has completed the previously announced sale of its oil and gas business in Equatorial Guinea to the country’s national oil company GEPetrol. The sale price was US$2.2 billion before taxes, US$1.7 billion after taxes.
Atwood Hunter gets four-year term with Noble, Kosmos Filed from Singapore 6/25/2008 11:33:11 AM GMT
HOUSTON: Atwood Oceanics Inc. semisubmersible Atwood Hunter won contracts with Noble Energy Inc. and Kosmos Energy Ghana HC to drill for a combined term of four years in the Mediterranean Sea and offshore West Africa.
Energy politics:
Nigeria: Delta Lauds Judgment On Return of Oil Wells Posted to the web 12 June 2008 Lagos The Delta State government has commended the Federal High Court judgment which yesterday in Benin City , Edo State , nullified the ceding of Ugbede community land with about 260 oil wells in Warri North local government area of Delta State to Ondo State
Nigeria: Gas - FG Signs MoU With Russian Firm Posted to the web 6 June 2008 The Federal Government yesterday signed a Memorandum Of Understanding (MOU) for gas gathering with a Russian consortium, Gazx-Suntera.
Nigeria: Shell Sues NNPC for $2.24bnPosted to the web 6 June 2008 Indications emerged yesterday that the Nigerian National Petroleum Corporation (NNPC) can no longer generate enough revenue to sustain its operations. This is even as it was revealed that the Shell Petroleum Exploration Company (SNEPCO) has sued NNPC for $2.4billion.
Liberia: Johnson-Sirleaf Signs Oil Bills Posted to the web 12 June 2008 President Ellen Johnson-Sirleaf on Wednesday signed into law three bills. The first is a bill ratifying the production sharing contract with addenda for offshore Liberia Blocks LB-8 and 9 signed between the Republic of Liberia represented by the National Oil Company of Liberia (NOCAL) and REGAL Liberia Limited and European Hydrocarbons Limited’ at the Ministry of Foreign Affairs.
Iran plans to invest in Angola oilfield
Posted on Tuesday 15 April 2008 An Iranian state owned company is considering involvement in developing a big field in fellow OPEC member Angola, a senior company’s official said Monday.
Addax Petroleum Acquires Shallow Water Exploration License in NigeriaThursday, June 12, 2008 Addax Petroleum Corporation has been awarded a 40 per cent interest in Oil Prospecting License (“OPL”) 227, offshore Nigeria. Addax Petroleum’s co-participants in the OPL227 license area are Express Petroleum & Gas Company Limited (“Express”) and Petroleum Prospects International Limited (“PPI”), both of which are indigenous Nigerian oil companies. The OPL227 license area is located in the shallow water offshore of the western Niger Delta Basin, one of the most prolific petroleum basins in the world.
Morocco secures wind farm investment16 June - Morocco has secured a sizeable investment in its wind farm initiative, as part of a response to the country’s energy needs, using renewable sources.The deal comes following conclusion of a strategic partnership, between Abu Dhabi National Energy Company PJSC (TAQA), and Paris based THEOLIA, a leader in production of electricity from wind energy, for construction and operation of a 300 MW wind farm located in Tarfaya, Morocco.
Ghana oil find commercial by 201010 June - Test drilling on the Ghana offshore wells are positive, validating that oil production will be running in full scale by 2010.The tests, which were carried out at the West Cape, Mahogany 2 well, produced results that were beyond expectations of Tullow Oil plc, exploration company behind Ghana’s new wealth find.
Sierra Leone acquires Nigerian refineryPosted on Tuesday 20 May 2008 Sierra Leone The land and premises of Sierra Leone Petroleum Refining Company Limited in Kissy Dockyard belongs now to the government of Sierra Leone after the parliament voted 51-23 and 6 abstentions, for its acquisition. The company belonged to Nigerian entrepreneurs.
Gunmen force Shell to shutdown Nigerian fieldFiled from Aberdeen 6/19/2008 12:17:42 PM GMT PORT HARCOURT: A militant attack brought about the shutdown of a 200,000 b/d Shell oil field off Nigeria. Gunmen struck an offshore installation, and tried, but failed, to destroy a computer control room, which would have crippled production.
Energy technology:
Mitsubishi joins Nigeria’s first floating LNG projectFiled from Singapore 6/11/2008 LAGOS: Mitsubishi Corp. will launch a feasibility study with its two partners, Flex LNG Ltd. and Peak Petroleum Industries Nigeria Ltd., for Nigeria’s first floating liquefied natural gas (LNG) project. The project is aimed at drawing some 1.5 million tonnes (1.65 million tons) of LNG a year over a 15-year period, with the first commercial LNG cargo planned for second half of 2011.
Offshore rig demand continues to out pace supplyBy Justin Smith 6/10/2008 Worldwide demand for mobile offshore drilling units will continue to grow throughout the next 12 months, according to data compiled for ODS-Petrodata’s monthly World Rig Forecast - Short Term Trends report.
Filed from Aberdeen 6/10/2008PORT HARCOURT, NIGERIA: Afren pumped first oil from its Okoro Setu Project in the shallow waters off Nigeria. Initial production from the first of two wells has come at a rate in excess of 3,000 b/d of oil. The remaining wells will be batch drilled and the company is on track to achieve full production of 15,000 b/d in the third quarter of this year.
Biggest dam project D.R. CongoPosted on Tuesday 29 April 2008 In a bid to boost Africa’s electricity supply by a third, a plan is being discussed in London to build the largest and most powerful hydroelectric dam in the world.
West Africa: Gambia River Basin States Meet on Energy NeedsPosted to the web 29 May 2008 Sheriff Barry Energy need has topped the agenda of the five-day meeting of the experts of OMVG (Gambia River Basin Development Organisation) countries, which kicked off on Monday at the Kairaba Beach Hotel, Kololi.
Nigeria: UAE, UK Investors Visit Calabar to Explore Oil, Gas PotentialPosted to the web 2 June 2008 Investors from the United Arab Emirates (UAE) and from the United Kingdom have arrived in Cross River to explore the potential in the oil and gas sector.
West Africa OSV owners ride a rising tide of demandFiled from Houston 5/21/2008 Offshore support vessel (OSV) owners in West Africa continue to enjoy strong demand for their services, and requests from chartering managers for more tonnage are common. At present, about 140 anchor handling tug supply (AHTS) and 90 platform supply vessels (PSVs) are working in West African waters, according to ODS-Petrodata’s online MarineBase market intelligence service.
Elixir completes 3D seismic offshore Sierra LeoneFiled from Houston 6/23/2008 8:02:20 PM GMT SIERRA LEONE: Perth-based Elixir Petroleum has completed a 1,222 square kilometer (471.8 square mile) 3D seismic acquisition program on Block SL-4 offshore Sierra Leone. Processing of the 3D data set has begun, with the data expected to be available by the end of the year. The data will then be interpreted by Elixir in the first quarter of 2009.
AMEC provides engineering for Takula platformFiled from Houston 6/19/2008 5:51:35 PM GMT ANGOLA: AMEC subsidiary AMEC Paragon participated in the successful installation of the Takula Gas Processing Platform, recently completed in Block 0 offshore Angola. The platform is located in 186 feet (57 m) of water, and is the newest platform to be installed by the Chevron subsidiary Cabinda Gulf Oil Co. for the Cabinda Association.
Uganda: Transmission Agency, Shumuk Industries Clash Over Power Lines 25 June 2008 THE Uganda Transmission Company Ltd (UETCL) and Shumuk Aluminium Industries have clashed over Plot 148-152 on Makabya Road in Nakawa, Kampala
Namibia: All Set for Power Station On Kunene River 25 June 2008
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