N e w s

NLNG Woos Investors For Large Oil And Gas Vessel DockYard

 Nigeria Liquefied Natural Gas Company (NLNG) is courting financial investors for the construction of a dry dock for the maintenance of large oil and gas vessels in Badagry, Lagos State.   The public and private owned gas company say the construction of the dock will save huge foreign exchange for Nigeria as well as create real value for the economy.   “This dry-dock, when completed, holds huge potential for the.... Read more »

Posted on : Wednesday , 24th December 2014

Collaboration key to minimising security risks for Africa s oil and gas sector

 Collaboration between the heads of security of oil and gas companies and suppliers to the industry will help minimise security challenges in Africa, according to Doug Byers of shipbuilding and maritime solutions company Nautic AfricaNautic Africa’s business development manager said that the heads of security of companies such as Shell Nigeria, Subsea7, Tidewater, Halliburton and Statoil work under extremely challenging conditions and.... Read more »

Posted on : Wednesday , 24th December 2014

Swiber enters West Africa market with mystery offshore EPCIC contract

 The USD 710m project award includes the provision of full EPCIC services of an offshore processing facility, as well as associated subsea infrastructure developments.   Swiber did not name the contractor or specify where the project is to take place.   For the contract scope and duration, Swiber will be mobilising a full and dedicated project management team.   “The award of this Project in West Africa to Swiber.... Read more »

Posted on : Wednesday , 24th December 2014

Kenya banks set for another year of record profits

 Commercial banks braved the many challenges in the economy to close the month of November ahead of the full-year profits in 2013 — giving the clearest signal yet that they are on course to setting a new profits record this year. The Central Bank of Kenya’s (CBK) latest report indicates that the lenders posted a Sh126.6 billion profit in the 11 months to November 30, compared to the Sh125.8 billion full-year pre-tax profit last.... Read more »

Posted on : Wednesday , 24th December 2014

Zambia-Tanzania-Kenya power inter-connector project

 The project, which was signed in Livingstone, Zambia last week on December 15, 2014, is set for completion in phases between 2016 and 2018. “By doing so power tariffs would be reduced, our people would now get cheaper power possibly below $0.10 cents per unit,” Prof Sospeter Muhongo, Tanzania’s Minister for Energy and Minerals told East African Business Week. Some of the development partners to the project which.... Read more »

Posted on : Wednesday , 24th December 2014

BG Group agrees sale and charter of LNG vessels

 BG Group has entered into an agreement with GasLog Ltd for them to acquire two modern tri-fuel diesel electric (TFDE) LNG carriers for proceeds of $460 million.   BG Group will charter back the two vessels, the Methane Becki Anne and Methane Julia Louise, for nine and eleven years with further options to extend the term for each vessel by either three or five years.   The transactions provide BG Group with flexibility in.... Read more »

Posted on : Tuesday , 23rd December 2014

Tower Resources resolves dispute with Repsol in Namibia

 Tower Resources has announced that it has reached agreement with the Operator, Repsol Exploration (Namibia) (Pty) Limited relating to the disputed costs associated with the drilling of the Welwitschia prospect, offshore Namibia.   As announced on 3rd September 2014, the Operator’s estimate of well and other related costs for the drilling of the Welwitschia prospect, which had been completed on 15th June 2014, had increased to.... Read more »

Posted on : Tuesday , 23rd December 2014

Total begins drilling of its deepest offshore project yet

 Total has today reached another milestone for the Egina project in Nigeria, as an intensive drilling program got under way.   The company has mobilized two rigs which will be kept busy for a total of 3,000 days, drilling 44 wells in water depths ranging between 1,400 and 1,700 meters.   “This is the deepest offshore project ever operated by Total,” comments Jean-Michel Guy, Executive General Manager of the Egina.... Read more »

Posted on : Tuesday , 23rd December 2014

India Plans to Step up Oil, Gas Investment in Africa

NEW DELHI -- India's state-run businesses are seeking to acquire stakes in oil and gas blocks in Africa, form joint ventures in the continent and supply organic gas to meet increasing fuel demand at property, Indian Oil Minister S. Jaipal Reddy mentioned... Today as considerably as 21.five% of India's crude oil imports are from Africa. In the years ahead, we seek far more crude oil and liquefied organic gas from Africa," Mr. Reddy stated.... Read more »

Posted on : Tuesday , 23rd December 2014

Rwanda: More Investors Commit to Boosting Exports

Eight more companies have signed agreements with government committing to increase production and scale up exports.The companies are in the mining and manufacturing sectors and include Rwanda Plastic Industries, Rwanda Allied Partners, Minimex, Demikaru Ltd, East African Granite Industries and Development Mining Company Ltd. Under the agreements, companies committed to expanding the scope and mode of production along the value chain so as to.... Read more »

Posted on : Tuesday , 23rd December 2014

Kenyan County Invites Chinese Investment

A Kenyan county on Monday called on Chinese investors to exploit opportunities that exist in infrastructure, agro-processing and tourism. Officer in Charge of Intergovernmental Coordinator at the Laikipia County Lantano Nabaala told a team of Chinese journalists that investors should tap the full gains of the county's natural resources. "Laikipia is rated as the fifth county in Kenya to invest in, and one of the best places to visit in.... Read more »

Posted on : Tuesday , 23rd December 2014

WORLD BANK FUNDS CONSTRUCTION OF DAM IN KENYA

The International Development Association, World Bank's fund Kenya government $200 million (Sh18.12 billion) for the construction of a dam in Kwale County. Construction of Mwache Dam is intended to boost sustainable irrigation and access to clean water in the Coast region. The dam is one of the projects being undertaken by the Kenya Water Security and Climate This project is intended to boost investments in water infrastructure and service.... Read more »

Posted on : Tuesday , 23rd December 2014



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