Browsing: Petroleum

Senegal is becoming one of the most exciting oil and gas plays to emerge in recent years in sub-Saharan Africa´s largely underexplored oil and gas sector.

The country may be a relatively new player in terms of production coming on stream, but in fact, oil and gas exploration has been taking place in the country as far back as 1961.

It was only until major world-class offshore oil and gas discoveries were made in 2014-2016 that global energy investors began to truly realize the huge potential of the MSGBC Basin, which comprises the offshore waters of Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.

Prior to the large-scale discoveries, Senegal was already maneuvering into a good position to capitalize on its hydrocarbon wealth thanks to the leadership of H.E. President Macky Sall who was a former Director General of the state-owned oil company PETROSEN.

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Historically overlooked by independent oil companies (IOCs) and considered something of an oil and gas frontier state, Namibia is establishing itself more prominently on the international oil and gas map.

Namibia has until recently been largely overlooked by the oil majors. A spate of farm-in agreements over the last six months suggests that this is changing. International oil companies are keen to secure a stake in the southern African country’s oil boom, should one materialize.

Austria’s OMV and Murphy Oil Corporation from Arkansas are the latest companies to make their first foray into the Namibian oil and gas sector, buying 25 and 40 per cent, respectively, of Cowan Petroleum’s licence to explore two blocks off the Namibian coast.

The Wingat-1 discovery by HRT in 2013, which encountered rich oil-bearing source rocks in the Walvis Basin, was the start of this change and, in the years since, the country has become …

Nigerian President Muhammadu Buhari has virtually launched “The Decade of Gas in Nigeria Initiative” pledging that his government will fully utilize gas resources in the country to lift the economy high as well as enhance industrialization.

During the unveiling of The Decade of Gas in Nigeria initiative in Abuja on Monday, Mr Buhari said the country’s capacity to produce about 600 trillion cubic feet of gas and the rising demand for cleaner energy sources were capable to help the nation achieve its economic diversification goal.

 ‘‘The rising global demand for cleaner energy sources has offered Nigeria an opportunity to exploit gas resources for the good of the country. We intend to seize this opportunity,’’ the President said at the virtual Nigeria International Petroleum Summit (NIPS) 2021 Pre-Summit Conference and official launch of the Decade of Gas.

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Buhari …