Energy and Corporate Africa

News, Analysis, Views, Commentary and Strategic Reports
on Energy, Human Development & Corporate Affairs in Africa

NIGERIA

Rilwanu Lukman, the new petroleum minister of Nigeria has fired Abubakar Yar’Adua, who was until the termination of his appointment the acting Group Managing Director of Nigerian National Petroleum Development Company (NNPC). In his place, Mohammed Sanusi Barkindo was appointed as the Group Managing Director of NNPC. Barkindo was chosen to assist the petroleum minister implement the new energy policy of Nigeria; inject a new organizational culture and ensure the restructuring and commercialization of NNPC to make it more viable like its international counterparts such as PETROBRAS.

OANDO

The Nigerian largest independent oil & gas company, Oando, has acquired another rig named “Constitution” into its fleet. This new purchase has increased the company’s rig ownership to three. The other 2, are Searex 12 and Searex 6 which Oando bought from Shell in 2008. The new rig was purchased at a cost of $53.5 million and all 3 rigs will be used for swamp operation.

GABON

Vaalco Energy is working towards the completion of its 2nd North Ebouri development well which is expected to be commencing production by March 2009. Currently, the North Ebouri well is producing crude oil at an approximate rate of 5,000 barrels a day.

EQUATORIAL GUINEA

Noble Energy has struck oil on Block “O” of the Carmen prospect offshore in Equatorial Guinea. This new discovery will definitely increase Equatorial Guinea’s daily production of crude oil and will strongly stabilize the nation as one of the big three major oil producing nations of sub-Saharan Africa.

ALGERIA

Daewoo, the engineering and construction firm of South Korea has won a contract of about $230.3 million for the construction of a liquefied natural gas facility in Algeria.

GHANA

It is either the global economic crunch or a change in corporate strategies that is making the Dallas based Kosmos Energy put out 30 - 80% and 18% of its stakes in 2 blocks of West Carpe which encompasses the Jubilee well for sale. Among top contenders pushing to grab it are ExxonMobil, Chevron, China National Offshore Oil Corporation, Eni and Oil & Natural Gas Corporation.

SENEGAL

Energy Allied International continues to conduct feasibility studies and arrangements to build a 60.000 barrel capacity refinery in Senegal with the co-operation of Petrosen. Senegalese government plan to get their crude oil supply from Iran. Meanwhile Senegal continues its vigorous exploration search for oil. Fortesa International is already producing natural gas in Senegal which is used for domestic consumption.

COTE D’IVOIRE

WCM in conjunction with Energy Allied International are completing arrangement for the construction of a new refinery and West African storage center in Abidjan. The refinery is expected to have the capacity of handling 60,000 barrel per day. It is expected to produce jet fuel, gasoline, kerosene and butane.