Tag Archives: exploration
exploration: Latest News
Dana Sanchez, 4:58 pm AFKI Original
African exploration took a hit the last two years. Eni’s success shows it’s not over. Eni is Africa’s leading gas producer. With an oil sector less than 10 years old, Ghanaian companies have limited experience providing tech services to offshore operators. GE says it plans to provide training and support for the local oil and gas supply chain, and SMEs. GE’s new Ghana facility is already supporting Eni. Eni’s exploration success rate is the envy of its peers. Most of Eni’s oil finds were discovered in the last decade, mainly in Nigeria, the Congo, Ghana and Angola.
Kurt Davis Jr., 10:24 am AFKI Original
Mauritania requires no royalty payments, which is not the norm. This is a benefit for oil, gas and mining explorers anxious about paying royalties when commodity prices are unpredictable. Mauritania’s corporate income tax rate is relatively low at 25% — a plus in a region where the tax and fiscal systems can change any investor’s outlook on risk and reward. Large government irrigation projects have aided agricultural production in the desert. Israeli technology and cropping strategies have had some success in other parts of Africa. There is potential here, but it requires investment in technology — not always a priority in agriculture.
Dana Sanchez, 2:55 pm
The rough diamond market appears to be making a cautious recovery. Polished diamonds? Not so much. Monthly fluctuations show it’s too soon to tell. Lack of firm evidence for a diamond market recovery is not deterring diamond exploration. A Namibian joint-venture with De Beers recently took possession of its sixth mining and exploration vessel, price tag: $160 million. It’s the most sophisticated diamond sampling and exploration vessel in the world, and will operate off the Namibian coast.
Julia Austin, 8:08 am AFKI Original
Most of the world’s helium is found in natural gas. In the past, batches found by explorers usually contained between 0.1-and-0.5 percent helium. The richest findings had 3 percent of helium. The helium found in Tanzania contains 10 percent helium. Most natural gas contains traces of it, but it’s unusual to find it in concentrations that are commercially viable to extract, capture, and store. Tanzania’s find is considered a game changer.
Kurt Davis Jr., 2:32 pm AFKI Original
Importers are struggling to pay suppliers. Shippers are delaying arrivals to the ports of Angola to provide importers a more appeasing option than simply going out of business. Banks are wondering if their dollar deficits — if they persist until 2017 — will sour relationships between Angolan importers and global suppliers. The presidential election is also hanging over this economy, scheduled for August 2017. Isabel dos Santos may be the person to watch.
Dana Sanchez, 3:35 pm
Falling oil prices and the dire state of Africa’s oil and gas industry do present opportunities for some. Norwegian energy company Statoil has bought its first stake in South African oil exploration from ExxonMobil Corp. Exxon is the world’s fourth-largest oil and gas company and the fifth-largest company in the world. Statoil ranks No. 25. South Africa has limited proven offshore reserves of oil.
Staff, 11:12 pm
In Sonnet 76, Shakespeare writes about “invention in a noted weed.” South African scientists shed new light on old pipes found buried in the bard’s garden using state-of-the-art forensic technology. Chemical analysis of residues in early 17th-century clay “tobacco pipes” confirm that a diversity of plants was smoked in Europe. This begs the question whether Shakespeare’s plays were performed in Elizabethan England in a smoke-filled haze.
Bloomberg Africa, 7:42 am
Tullow Oil Plc, an energy producer in Africa, fell to a one-month low in London trading after saying Ghana could be ordered to suspend drilling in an area where it operates. Ivory Coast, which disputes sea boundaries with neighboring Ghana, has asked an arbitration panel to order Ghana to halt drilling in an area where Tullow operates its Tweneboa-Enyenra- Ntomme project
Allan Akombo, 4:04 am AFKI Original
Under growing pressure for transparency and accountability, East Africa is changing the way it manages exploration and production rights of new oil and gas resources. Uganda’s Cabinet approved plans to open up six exploration blocks in the oil-rich Albertine Basin for licensing in the country’s first competitive bidding .
Staff, 2:50 am
South Africa’s state-owned logistics group Transnet plans to name its preferred bidders for a new jetty and deep sea oil rig repair quay, valued at around 10 billion rand ($871.42 million), at its Saldanha Port by September this year. Situated along the West Coast about 120 km (72 miles) from Cape Town, Saldanha is South Africa’s deepest natural port and its geographical proximity to a slew of new oil and gas finds
- Real Estate