Jan-2017: Shell is in talks to sell its onshore Gabon assets to Carlyle Group. The 700 MMUSD asset sale, which is expected to be finalised in 2017, is part of Shell’s 30 billion USD divestment plan following its acquisition of BG Group in 1Q 2016. Post this announcement, Shell Gabon’s 400 staff personnel commenced on a strike action, leading to 30-50% drop in production.
Jan-2017: Pura Vida Energy has signed an agreement with a rig contractor to co-fund the costs of a back-to-back three-well campaign on the shallow-water Nkembe block offshore Gabon. This will include a production test of the Loba oil field, and is expected to cost 20 MMUSD. Pura Vida is in discussions with potential partners to secure the remaining funding required for this year’s drilling program, which will target around 100 MMSTB of reserves.
Jan-2017: Sound Energy has signed a heads of agreement to acquire all of Oil & Gas Investment Fund’s (OGIF) assets in Eastern Morocco. OGIF’s Eastern Moroccan assets include a 20% interest in Tendrara, a 75% interest in Meridja and an application for a 75% position in the relinquished area close to Tendrara. Sound Energy will swap 272 million ordinary shares in its company for the assets.
Jan-2017: French gas grid operator GRTgaz said a force majeure in Algeria and tensions in the global gas market were reducing deliveries of liquefied natural gas (LNG) to southern France, just as winter demand for heating intensifies. Deliveries to the Fos-sur-Mer terminal were at about 40 gigawatt-hour per day (GWh/d) compared with the 70 GWh/d needed to meet increased winter demand for power and heating. The force majeure is in place after Algeria’s Skikda LNG facility, which delivers to French and European markets, was shut down for maintenance work.
Jan-2017: The future of South Sudan’s oil industry looks grim, as armed conflict and falling international oil prices have combined to undermine the industry. It is feared that the fall in oil production from 245 000 stb/d in 2013 to 130 000 stb/d in 2016 may continue well into 2017 and beyond. This is because it is impossible to explore new oil fields and restart the Unity and Tharjath oil fields due to security problems.
Jan-2017: Kenya Pipeline Company (KPC) has announced that it will construct an oil jetty in the lake side city of Kisumu as part of plans to make Kenya the regional transportation hub for petroleum products in East and Central Africa. KPC advertised an invitation to tender for the construction of the Kisumu oil jetty, which will facilitate safe transportation of petroleum products through Lake Victoria to Kenya’s neighbouring countries.