March 16, 2016

TULLOW Oil is optimistic that Kerio Valley basin has significant oil deposits following initial tests.

 

In an operation update posted on Wednesday, the British firm said the tests show a sign of positive prospects at the Cheptuket-1 well in Block 12A, in Rift Valley.

 

"The objective of the well was to establish a working petroleum system and test a structural closure in the south-western part of the basin," Tullow said.

 

It added :"The strong oil shows encountered in Cheptuket-1 indicate the presence of an active petroleum system with significant oil generation."

 

The oil exploration firm said the post-well analysis is underway and will determine the futur...

March 1, 2016

Africa Oil Corp.  has report that it has completed the previously announced farmout with Maersk Olie og Gas A/S (Maersk Oil) related to the South Omo and Rift Basin Blocks in Ethiopia.

 

At completion of the Ethiopian farmout, Africa Oil received a payment of US$12.8 million from Maersk Oil.

 

The resulting interests in each of Africa Oil’s Ethiopian blocks are as follows:

 

Ethiopia Rift BasinAfrica Oil – 25%*Maersk Oil – 25%Marathon – 50%

Ethiopia South OmoAfrica Oil – 15%Maersk Oil – 15%Tullow – 50%*Marathon – 20%

*denotes Operator

 

Keith Hill, Africa Oil’s CEO commented, “We are very pleased to have completed our farmout to Maersk Oil. We fee...

February 16, 2016

 

The Tanzania Petroleum Development Corporation has announced that it will invest in a fertilizer plant to be set Kilwa division Lindi district German investors Ferostaal Industrial Project GmbH at a cost of $1.9 billion.

 

TPDC says it is the government’s plan to support companies investments in the extractive sector with the plant expected to produce 3850 tonnes of fertilizer daily.

According to TPDC Director for Production, Processing, Transport and delivery of natural gas  Dr. Wellington Hudson who met representatives from Kilwa, Lindi  the joint venture will utilize 104 million cubic feet daily and will produce two types of fertilizer namely ammonia...

February 12, 2016

 

Genel Energy has announced that after a review of license potential, it has decided to exit its 44% working interest in the Adigala block onshore Ethiopia.

 

According to Genel Energy the Adigala block which lies close to Somaliland, and was thought to be geologically analogous to the prolific producing Jurassic Rift Basins of Yemen.

 

The explorer had earlier announced that a drill or drop decision would be reached in the first quarter of 2016 as it continued further processing and interpretation of new 2D seismic acquired in 2014.

 

The seismic that commenced in the second quarter of 2014 was to refine a number of existing leads into drill ready prospects...

February 12, 2016

Africa Oil reports that it has completed the previously announced (November 9, 2015) farmout with Maersk oil and gas related to Kenyan Blocks 10BB, 13T and 10BA having received $427 million.

 

Africa Oil Corp. farm-out with Maersk Oli and Gas received approval from the Government of Kenya.

 

This amount represents US$344 million of reimbursed past costs incurred by Africa Oil prior to the agreed March 31, 2015 effective date of the farm-out and US$83 million representing Maersk’s share of costs incurred between the effective date and December 31, 2015, including a carry reimbursement of US$15MM of exploration expenditures.

An additional US$75 million d...

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