oil production Archives - AfricaBusiness.com

6Apr

By Africa BusinessNo Comments

Energy

African Energy Thriller Becomes a Wall Street Journal Best-Seller List and tops US Market

Following the widely acclaimed release of NJ Ayuk, Managing Director of Centurion Law Group and Executive Chairman of the African Energy Chamber’s second book, Billions At Play: The Future of African Energy and Making Deals, the resourceful and bold book has become #1 Amazon Best Selling eBook overall, #2 Wall Street Journal Best Selling eBook, #4 USA Today Non-Fiction Business Best Selling eBook and #10 Wall Street Journal Non-Fiction Combined best seller. Billions At Play became number one on Amazon in several categories only a few days after its initial release in 2019, making it one of Africa’s energy best-sellers. This second edition, which opens once again on a foreword by H.E. Mohamed Sanusi Barkindo, Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC) and...

It’s Time to Rethink Licensing Rounds: For Africa’s Oil- and Gas-Producing Countries, Negotiating the Current Environment May Require…Negotiation

18Jan

By NJ AyukNo Comments

Energy, Main

It’s Time to Rethink Licensing Rounds: For Africa’s Oil- and Gas-Producing Countries, Negotiating the Current Environment May Require…Negotiation

In late 2019, as the African oil and gas industry was looking to the future with optimism, an Offshore Engineer wrote that the continent had reason to expect a “more productive 2020.” Instead, the unforeseen happened, and the COVID-19 pandemic had a devastating impact on the oil and gas industry in Africa and around the world. But even at the end of last year, during a fairly strong period for oil and gas, the publication mentioned that “delays and hiccups” were impacting licensing rounds — that is, the processes by which investors can seek oil and gas exploration licenses from the government – and argued that improvements would have to be made going forward. This is correct. Licensing process improvements were already needed in late 2019, and now that the oil and gas industry is in the su...

What Angola can learn from Nigeria as it creates remarkable opportunities for marginal oil production

15Jan

By NJ AyukNo Comments

African News, Angola News, Energy, Nigeria News

What Angola can learn from Nigeria as it creates remarkable opportunities for marginal oil production

The Nigerian experience with marginal oil field development had measurable success, with 24 licenses awarded to 31 companies, some as sole operators and others as joint-ventures With production declining and investment scarce, the Angolan leadership has put in place a number of new policies to reboot its oil industry and propel economic development. However, those changes take time and renewed deep-water oil and gas exploration for fresh reserves will take years to yield the desired results and stop the daily production crunch. In the meantime, the government is targeting what it already knows exists, the country’s multiple deposits of what has been dubbed marginal oil fields, which will go on sale this year during the Angolan Marginal Field Bid Round. Marginal fields are defined by ...

6Nov

By The African Press OrganizationNo Comments

African News, Equatorial Guinea

American Businessman Talks About Investment In Equatorial Guinea

More than 25,000 Americans Work in Equatorial Guinea Today MALABO, Equatorial Guinea, Nov., 2012 /PRNewswire-USNewswire/ — Investing in Equatorial Guinea is a flexible and friendly process, according to American businessman John James. In a recent interview with Focus Washington, John James, founder and chairman of JD James & Company, an advisory firm serving governments, government sponsored enterprises and the global private sector in West and Central Africa, said that Equatorial Guinea offers more flexibility to establish a business than other African countries because the government has deeply focused on the country’s development. James has lived and worked in Africa for more than ten years. James said that Equatorial Guinea is one of the most dynamic stories in Afric...

16Oct

By Africa BusinessNo Comments

African News

Oando Energy Resources Announces Spudding of Ebendo-5 Well

CALGARY, Alberta, October 16, 2012 /PRNewswire/ – Oando Energy Resources Inc. (“OER” or the “Company”) (TSX:OER), a company focused on oil exploration and production in Nigeria, today announced the spudding of the EB-5 well in the Ebendo Field (OML 56), located onshore Nigeria. OER commenced drilling operations on October 12, 2012 and has reached a depth of 4,000 ft. EB-5 is an appraisal well, targeted at evaluating the medium sands encountered during the recently-concluded EB-4 well drilling program. EB-5 is expected to reach a target depth of 10,000 ft and will enable the appraisal of any reserves that may be present in the five hydrocarbon bearing sands that were encountered while drilling the EB-4 well. The sands’ fluid contents were not conclusively determined during the...