Market News Page No. 544| Africa Business News

RWE Dea Doubled its Egyptian Oil, Gas Output

North Africa is one of our strategic core regions,” explained Maximilian Fellner, General Manager of RWE Dea Egypt. “In Egypt, Dea can look back upon three decades of oil production and we recently doubled our overall production in the country through getting our onshore gas project Disouq on stream. We are delighted about these success stories and will continue on this track, as we see further potential in the.... Read more »

Posted on : Monday , 15th December 2014

Madagascar Oil requests 2 year extension for Madagascar Exploration Blocks

Madagascar Oil has announced that following discussions held at the Executive Committee meeting regarding Blocks 3105, 3106 and 3107 on 9 December 2014, the Company’s wholly owned subsidiary, Madagascar Oil S.A., has written to the Office des Mines Nationales et des Industries Stratégiques (“OMNIS”) formally requesting a two year extension to the exploration period of each of the Exploration Blocks. The letters.... Read more »

Posted on : Monday , 15th December 2014

Taipan Resources awards drilling contracts for Badada-1 well in Kenya s Block 2B

Block operator in Block 2B Taipan Resources has announced that together with other joint-venture partners, have executed a contract with Greatwall for the GW-190 land rig and have also contracted Aberdeen-based Norwell Engineering to manage the drilling operations of the Badada-1 well. The GW-190 land rig recently completed the drilling of the Sala-1 discovery in Block-9 of Anza Basin, Kenya, adjacent to.... Read more »

Posted on : Friday , 12th December 2014

Kenya Opens World's Largest Single Turbine Geothermal Plant

Kenyan President Uhuru Kenyatta has just opened the world’s largest single turbine geothermal power plant, which will add 140 Megawatts (MW) to the country’s national electricity grid. The project is viewed as a major boon for development initiatives and poverty reduction in Kenya and is anticipated to reduce electricity costs in the nation by 50 percent by early 2015. The Olkaria IV power plant cost $126.5 million to build and is.... Read more »

Posted on : Monday , 15th December 2014

Aora to provide solar-hybrid power solution in Ethiopia

Solar energy solutions provider Aora has announced that its plans to construct an initial pilot of its Tulip solar-hybrid power plant in Ethiopia Aora’s Tulip solar-hybrid system uses a gas turbine that can operate on any alternative fuel, which guarantees an uninterrupted and stable power supply 24 hours a day in all weather conditions. Construction of the first pilot plant is expected to begin by mid-2015. Company officials said.... Read more »

Posted on : Monday , 15th December 2014

Chinese developer to build Sh5bn high-end Kilifi resort

Chinese real estate firm Sultan Palace Development plans to construct a Sh5 billion high-end resort in Kikambala, Kilifi, targeting the luxury holiday homes market. Sultan Palace said its investment is driven by a growing demand for beach resorts globally, with Kenya becoming a popular destination. “There was a gap in this sector and we felt the need to venture into this market as Kenya has proven one of the most.... Read more »

Posted on : Friday , 12th December 2014

African middle-class creating opportunities for private healthcare

There is a strong demand in Africa for quality, world-class private healthcare, especially from the emerging middle-class, foreign investors, government and health insurers. So says Peter Botha, chief executive of African Medical Investments, in a new report by the Economist Intelligence Unit, sponsored by Janssen, titled “The future of healthcare in Africa”. London-listed African Medical Investments currently operates.... Read more »

Posted on : Friday , 12th December 2014

LeapFrog joins Kenya health

NAIROBI, Kenya - Competition in the Kenyan and regional health insurance sector could heighten with the acquisition of a major player by global private equity firm, LeapFrog Investments. LeapFrog Investments known globally for shaking markets that it enters last week announced plans to acquire a controlling stake in Resolution Health East Africa Limited. The acquisition is said to cost anything in the region of $19 million and according to.... Read more »

Posted on : Friday , 12th December 2014

Tanzania to get second floating clinic

MWANZA, Tanzania – The Lake Tanganyika Floating Health Clinic/WAVE non-governmental organization is introducing a floating health clinic on Lake Tanganyika. East African Business Week has learnt that LTFHC/WAVE is an international NGO whose mission is to help ease problems of healthcare access for isolated communities in the Lake Tanganyika Basin. Lake Tanganyika basin is one of the most remote areas in Tanzania. LTFHC has.... Read more »

Posted on : Friday , 12th December 2014

Sahara Energy extends well test, to strike first oil in 2015

The Chief Operating Officer (COO) of Sahara Energy Upstream Group, Mr. Curtis Cohen has said the firm is carrying out an extended production test on the Oki field located in Oil Prospecting Lease (OPL) 274 in North Western Niger Delta, Daily Independent reports. The activity is in readiness to strike first oil from the field before the end of the first half 2015. According to Cohen,.... Read more »

Posted on : Friday , 12th December 2014

U.S. reserves surpasses Nigerian reserves - fifth consecutive year

U.S. crude oil and lease condensate proved reserves has increased for the fifth consecutive year in 2013, increasing by nine per cent from the 2012 level to 36.5 billion barrels, according to the U.S. Crude Oil and Natural Gas Proved Reserves, 2013 report released yesterday by the U.S. Energy Information Administration (EIA), The Guardian reports. With this new record, the U.S has surpassed Nigeria, whose reserves stands at 28.2.... Read more »

Posted on : Friday , 12th December 2014

Kenya: DFID, Turkana County Agree on Landmark Project

THE United Kingdom's Department for International Development (DFID-Kenya) has committed to support Turkana County Government in engagement of communities, oil companies and NGOs for local development of areas affected by oil explorations. Speaking during the signing of the framework, Head of DFID Kenya, Lisa Phillips said The UK was excited about discoveries of oil and gas in Kenya. "It's important that there is wide.... Read more »

Posted on : Friday , 12th December 2014