According to Maurel & Prom’s CEO, Michel Hochard the
acquisition of stakes in two shallow-water blocks expands
the group’s presence in Angola and is a signifi cant step in the
company’s growth strategy.
Source: Macauhub
AFRICA’S FIRST LNG
STORAGE PLANT
The construction of the fi rst liquefi ed natural gas (LNG) storage
and regasifi cation plant in West Africa is currently underway. The
plant will be situated at the Port of Akonikien on the country’s
mainland which will facilitate the transportation and storage
of LNG from the country's LNG plant at the Punta Europa Gas
Complex on Bioko Island, to Akonikien on the southern border of
the mainland.
The project is the fi rst gas-to-power development in Equatorial
Guinea’s LNG2Africa initiative and aims to advance eff orts in
monetising gas resources through the production of a domestic
gas-to-power infrastructure.
Source: ESI Africa
CHINESE INVEST USD16-
BILLION IN NIGERIAN OIL
According to the Nigerian National Petroleum Corporation’s
(NNPC) Group Managing Director, Malla Mele Kyari, Chinese
investments in the oil and gas industry of Nigeria have reached
USD16-billion. Malla addressed the management of China
National Off shore Oil Corporation (CNOOC) by saying, “To
have an investment of USD16-billion in Nigeria is clearly an
indication of your confi dence in us. We have a target to grow
production to 3 million barrels per day by 2023, to do that, we
need partners like you. You can count on us because we have
common interest.”
Source: Africa Business Communities
NEW OIL FIELD DISCOVERED
IN SOUTH SUDAN
A consortium led by China National Petroleum Corporation
(CNPC) has discovered 300 million barrels in recoverable oil in
South Sudan’s northeastern Upper Nile state. This discovery is
said to be equivalent to the Oyo discovery announced earlier this
month in Congo.
The exploration well was drilled at a total depth of 1 320m near
the Adar oilfi eld in Block 3. Earlier this year, South Sudan signed
an exploration and production sharing agreement (EPSA) with
South Africa’s Strategic Fuel Fund for the highly prospective
Block B2 as part of the country’s strategy to diversify its basket of
investors and encourage further exploration.
Source: Africa Business Communities
www. africanmining.co.za
African Mining Publication
African Mining
African Mining November 2019
51