Ghana: System Disturbances Caused Recent Power Outages-Report
A document sent by Ghana’s power transmission company, GRIDCo, to the power sector players intercepted by Energynewsafrica.com indicates that the recent power outages experienced by electricity consumers in the West African nation was as a result of disturbances in the power system and not load shedding as was speculated.
The document detailed how power distribution difficulties occurred throughout the country in the last one week.
The report outlined a brief sequence of how the incidence occured, interventions and recommendations made to avert future problems to power consumers.
It explained that at 0:149 on Wednesday, August 26, 2020, the 330kV line circuit from Aboadze to Anwomaso, together with the Aboadze-Volta -Asogli-Davie 330 kV line circuit, the Ghana-Cote d’ivoire 225 kV interconnection, that of the Aboadze-Tokoradi 161 kV line No.1 and the 69kV Asiekpe were affected.
Additionally, the document observed that Ho and the 69 kV Asiekpe- Sogakope lines equally tripped, resulting in the unfortunate power outages in certain parts of the the country.
“All twenty-five units at Karpower, the Bui GS unit No.2 and Sunon Asogli unit no.9 and 10 also tripped, leading to a total loss of 750MW of generation,” the document stated.
It said, Automatic Frequency Load Shedding (AFLS) relays operated is ready to take off supply to some customers in Accra, Winneba, Cape Coast, Takoradi, Kumasi, the Volta Region and VALCO.
“Restoration started promptly and customer loads were restored pregressively as generation was re-synchronised to the NITS, and by 0:305h, power supply to all customers in Ghana will have been restored when supply is restored to Sogakope.”
The report mentioned, however that at 0:900h, another disturbance occured when a charcoal truck run into the Tafo-Akwatia 161kV line tower, snapping the line conductor and causing major damage to the line.
This, it stressed, required the engagement of a contractor to create access to the faulted pointed to enable the repair of the line.
“The outage to the Tafo-Akwatia line has caused a number of repeated disturbances over the week,” the document stated.
Intervention outlined by the report said a seven-day programme to wash the entire Tokoradi thermal substation had been initiated, engagement of a contractor to create access route and repair by September 11, 2020 had been undertaken.
It concluded that checks revealed excessive early morning dew on post insulators at the 330kV Takoradi Thermal substation caused a flashover, triggering cascaded trips in the 330kV line circuit, leading to the system disturbance.
It added that, the fault on one of the post insulators, supporting the Aboadze-Volta and Aboadze- Anwomaso 330 kV lines resulted in the disturbance.
The document recommended that due to closeness of the Takoradi Thermal substation to the sea, and consequential heavy deposit of salty dew at dawn especially in the rainy season, the following recommendations have been made: there is a short term to intensify regular washing of the Takoradi Thermal substation, coating of existing insulators with silicon coating.
In the medium term, the document called for replacement of existing ‘Glass’ and Porclain’ type insulation currently in use at the Takoradi Thermal substation with the polymer type.
In the long term, the document called for conversion of the Takoradi Thernal substation to a Gas insulated Substation (GIS), which is estimated to cost approximately 80 USD.
Source:www.energynewsafrica.com
Ghana: NDC’s Vice Presidential Candidate Meets ACEP Staff
The Vice Presidential Candidate of Ghana’s largest opposition political party, National Democratic Congress (NDC) Prof. Naana Jane Opoku Agyemang, on Thursday, paid a working visit to the office of the Africa Centre for Energy Policy (ACEP), one of the energy think tanks in the country.
The visit formed part of the opposition party’s running mate’s plans to meet Civil Societies Organisations in the West African nation to interact with them and explain the party’s policies to them ahead of the December 7 polls.
Ghana: System Disturbances Caused Recent Power Outages-ReportIn a tweet on ACEP’s official account, it read: “NJOAgyemang this afternoon paid a working visit to AcepPower to interact with staff of the organisation, as part of her #CSOs tour.”
The #VicePresidentialCandidate of the @OfficialNDCGh, @NJOAgyemang, this afternoon paid a working visit to @AcepPower to interact with staff of the organization, as part of her #CSOs tour. pic.twitter.com/Gy0gH0Dh2w
— ACEP (@AcepPower) September 10, 2020
The #Team of the #VicePresidentialCandidate of the @OfficialNDCGh, @NJOAgyemang, yesterday interacted with the @AcepPower #Team, to #discourse on issues of #nationaldevelopment & the #nationalinterest.@benboakye @bftghana @Joy997FM @Graphicgh @Citi973 @utvghana @ParliamentGhana pic.twitter.com/IkyH1BBwa3
— ACEP (@AcepPower) September 11, 2020
Tullow Oil Books US$1.3 Billion Loss In First Half Of 2020
Africa’s focused oil and gas company, Tullow Oil PLC, has recorded a net loss of U.S$1.3 billion in the first half 2020.
According to the company, the loss, after tax, was driven by exploration write-offs and impairments totaling US$1.4 billion.
In the same period, Tullow recorded US$31 million in revenue while gross profit stood at US$164 million.
Contained in the company’s statement on Wednesday, the Ireland-based oil and gas firm said its net debt, as at June 30, stood at US$3 billion.
Tullow registered a negative free cash flow in half year due to weighting of cash taxes, cash capex, differentials, redundancy costs and working capital.
The Group’s working interest production for the first half of 2020 averaged 77,700 bopd in line with expectations.
Despite all these, the company registered a strong operational performance in Ghana, with both FPSOs delivering in excess of 95 percent uptime.
The impact of COVID-19 has been managed safely across the business with no adverse impact on Ghana’s production.
This has been achieved in close cooperation with the Government of Ghana.
Production across both fields in Ghana has been strong in the first half of 2020, with the Jubilee Field averaging 84,700 bopd gross (net: 30,000 bopd) and the TEN field averaging 50,900 bopd gross (net: 24,000 bopd).
“The Maersk Venturer drillship has now been released. Tenders are ongoing to contract a rig to recommence activity in Ghana in 2021,” Tullow said.
Meanwhile, Tullow announced that its shareholders approved the sale of Ugandan assets for US$500 million in cash on completion and US$75 million in cash at FID.
Rahul Dhir, Chief Executive Officer, Tullow Oil Plc, commented that: “Despite the very tough conditions in the first half of this year, we have successfully delivered reliable production and major, sustainable reductions to our cost base. We are also close to completing the important sale of our interests in Uganda. The quality of Tullow’s assets remains robust. Since my arrival as CEO, we have been developing new plans for our business, with the support of our Joint Venture Partners and expert advisors. These plans will deliver enhanced value from our assets to benefit all our stakeholders including our host countries and investors. We will host a Capital Markets Day towards the end of 2020 at which we will update the market on these plans to deliver on Tullow’s true potential.”
Source:www.energynewsafrica.com
Libya: National Oil Company’s Affiliates Halt Operations
Libya has suspended operations at two of its National Oil Company’s (NOC) affiliates due to the spread of Covid-19.
Libya’s Arabian Gulf Oil Company (AGOCO) has suspended all work for 30 days “to protect workers from the pandemic,” NOC said in a statement as reported by Oilprice.com.
According the portal, Zawiya, Libya’s largest oil refinery, is also placing 10 percent of its staff on emergency leave.
Ghana: System Disturbances Caused Recent Power Outages-ReportZawiya processes 120,000 barrels daily, and supplies western and southern Libya with fuel. The company said the moves are precautionary and not the result of any outbreak of the coronavirus among its oil workers.
Tullow Oil Picks Ex-Anadarko Man For Director RoleLibya’s oil industry has already taken a severe hit after paramilitary formations affiliated with the LNA of General Khalifa Haftar occupied oil export terminals and oilfields earlier this year, with production ultimatley falling to 100,000 barrels daily. This is down from 1.2 million barrels per day at the start of the year. While the production outage in oil-rich Libya has been a boost for OPEC’s production cut, efforts designed to draw down global oil inventories has cut off nearly all oil revenue to the country and resulted in extensive blackouts in the country. Libya’s oil terminals have been closed for some time, which has caused the massive blackouts because the condensate reservoirs at the export ports are now filled to the brim, and there is nowhere to put the gas that is the byproduct of condensate. Libya reported an additional 1,080 cases of Covid-19 on Monday, according to official figures cited by Reuters, bringing its total number of cases to more than 18,800. It is the highest number of virus cases in a single day since the start of the pandemic. More than half of those new infections were from persons located in Tripoli and the surrounding suburbs. Source:www.energynewsafrica.com
Ghana: VRA CEO Inspects Lawra And Kaleo Solar Projects
The Chief Executive Officer of Ghana’s largest power generation company, Volta River Authority (VRA), Ing. Emmanuel Antwi Darkwa,has embarked on a two-day working visit to the solar power plant construction site at both Lawra and Kaleo in Upper West Region to acquaint himself with the progress of work.
The Lawra facility, which will generate 4MW electricity, is 80 percent fully completed and would be commissioned soon.
He commended the contractor of the Project, Elecnor for working within schedule inspite of the COVID-19 pandemic.
He was accompanied by the Managing Director of NEDCO, Osman Ayuba, and other senior oficers from both VRA and NEDCO.
Ing. Emmanuel Antwi Darkwa and his team had earlier, on Tuesday, 6th September, 2020, paid courtesy call on the chiefs and elders of the Lawra Traditional Area at Naa Karbo’s Palace to brief them on his mission as customs demand.
Source:www.energynewsafrica.com
He commended the contractor of the Project, Elecnor for working within schedule inspite of the COVID-19 pandemic.
He was accompanied by the Managing Director of NEDCO, Osman Ayuba, and other senior oficers from both VRA and NEDCO.
Ing. Emmanuel Antwi Darkwa and his team had earlier, on Tuesday, 6th September, 2020, paid courtesy call on the chiefs and elders of the Lawra Traditional Area at Naa Karbo’s Palace to brief them on his mission as customs demand.
Source:www.energynewsafrica.com
Ghana: 2020 Manifesto: NDC To Establish Renewable Energy Commission
The flag-bearer of Ghana’s biggest opposition party, the National Democratic Congress (NDC), John Dramani Mahama, has promised to establish a Renewable Energy Commission to spearhead the West African nation’s drive to increase renewable energy into the energy mix if the party is voted to form the next government from January 2021.
The NDC said it would be committed to using renewable ennergy to spearhead socio-economic development.
“The NDC would inculcate climate-friendly, electricity solution for households, remote communities and light industries to drive rapid socio-economic development,” the party’s 2020 Manifesto reads.
The party’s 2020 Manifesto, titled: ‘The People’s Manifesto’, was outdoored last Monday by its flag-bearer and former President, John Dramani Mahama.
“The next NDC government will deliver a golden age of renewables to surpass the ten percent of the energy mix specified in the Rebewable Energy Act by: accelerating the development of grid-connected solar, wind and biomass plants”, he stated.
According to the party, the next NDC government intends to encourage the use of roof-top solar by artisans and small businesses to reduce the over reliance hydro energy in Ghana.
The NDC governement, again, promised to incorporate all new government buildings with solar systems in their designs, cost and implementation.
Ghanaians will be going to the polls on December 7 to elect President and Members of Parliament to steer the affairs of the country for the next four years.
The NDC said should Ghanaians vote for the party to return to power, it would to retrofit existing government buildings, too, with solar systems, provide incentives for investment in the manufacture of solar panels and its accessories in Ghana, including removal of import duties on solar equipment and accessories.
“We will encourage private businesses and public institutions to use solar power, promote the teaching of courses in renewable energy in TVET institutions”, promised the NDC.
Source:www.energynewsafrica.com
Nigeria: Electricity Sector Workers Oppose Central Bank Directive For Banks To Takeover Electricity Bills Collection
Electricity sector workers in the Republic Nigeria have kicked against the Central Bank of Nigeria’s directive to banks to take over the collection of electricity bills from electricity distribution companies (DisCos).
The Sun, local newspaper, reported that the workers, under the umbrella of the National Union of Electricity Employees (NUEE), said the CBN’s directive is a subtle attempt to take over jobs in the power sector.
The General Secretary of the union, Joe Ajaero said the apex bank’s circular, dated August 21, 2020, signed by the CBN’s director of banking supervision, Bello Hassan, asking for the takeover, was a misplaced priority.
“The implementation of this directive at this period is not only ill-timed, but counter-productive owing to the operational and overhead cost challenges this portends,” the workers explained.
Mr Ajaero noted that the CBN was not a regulatory body for the power sector and has very minute knowledge about its operations and, therefore, is not in a position to issue directives in a sector where it lacks expertise.
According to him, since the privatisation of the Nigerian power sector in November 1, 2013, not much has been done towards ensuring that electricity consumers in Nigeria are issued prepaid meters to properly account and justify payments being made for energy consumed, rather than the estimated billing system that has further placed huge financial burdens on Nigerians.
He lamented that, in the face of global economic downturn occasioned by the COVID-19 pandemic, the CBN’s directive would further increase the unemployment index, which the current administration is working assiduously to prune down.
He said, “The implementation of this directive will not ensure job security and will throw thousands of electricity workers into the labour market, thus, increasing hardship and hunger on family members of those affected.”
Source:www.energynewsafrica.com
Tullow Oil Picks Ex-Anadarko Man For Director Role
Oil and gas exploration company Tullow Oil has announced the appointment of Mitchell Ingram as new independent non-executive director on the company’s board of directors.
Ingram will stand for election at the 2020 annual general meeting in April 2021. Upon appointment, he will join the Safety & Sustainability and Remuneration Committees.
Ingram is a highly experienced oil and gas executive who has had a distinguished career with senior positions at Occidental Petroleum, BG Group and, most recently, at Anardarko where he was a member of the group’s executive committee.
As Anadarko’s executive VP of international, deepwater, and exploration, Ingram took Anadarko’s significant LNG asset in Mozambique to FID for the first part of the project, which will create a global LNG hub in Southern Africa.
Concurrently, he had responsibility for Anadarko’s project management, HSE, Gulf of Mexico deepwater operations, exploration, and assets in Algeria and Ghana, including the Tullow-operated Jubilee and TEN fields.
At BG Group, Ingram was the development director and then asset general manager for the Karachaganack field in Kazakhstan before working in Australia as the managing director of QGC Australia on the world’s first coal seam gas to LNG project.
He began his career at Occidental where he spent 22 years in several technical and operational roles in the UK North Sea, Qatar, and Libya. Ingram holds a BSc in Engineering Technology from Robert Gordon University in Aberdeen.
Dorothy Thompson, chairwoman of Tullow Oil, said: “I am delighted to welcome Mitch to the board of Tullow. He will bring significant commercial, technical and operational insight to our discussions, as well as experience of Tullow’s assets in Ghana from his time at Anadarko.
“I am certain that his extensive industry experience and expertise will be of material assistance across all of Tullow’s activities“.
Source:www.energynewsafrica.com
Ghana: BOST MD Averts Sit Down Strike By Buipe Depot Tanker Drivers
The timely intervention by the Management of Bulk Oil Storage and Transportation (BOST) Company Limited in the Republic of Ghana has averted an industrial action by members of Petroleum Tanker Drivers’ Association in Buipe in the Savannah Region.
The drivers declared a sit down strike on Monday, citing some operational challenges which they explained are affecting them.
Among the concerns the drivers raised included malfunctioning discharge meters at the Buipe depot.
However, barely 24 hours when the drivers declared the strike, Managing Director of the company, Edwin Provençal, Josiah Attah; General Manager in charge of Terminal and Transportation and Marlick Adjei, General Manager Corporate Communications and External Affairs, met them to address their concerns.
The MD and his team informed them that a contract had already been signed for the supply of discharge meters.
Mr. Provençal assured them that their challenges would be a thing of the past in the next couple of months.
The drivers expressed satisfaction with the assurances from the MD and his team and promised to resume work tomorrow, Wednesday, September 9, 2020.
Source:www.energynewsafrica.com
Ghana: Opposition NDC Outlines Plans For The Energy Sector Ahead Of December 7 Polls
Ghana’s largest opposition party, the National Democratic Congress (NDC) has outlined its plans for the country’s energy sector for the next four years if voted back to power.
Ghanaians will be going to the polls on December 7, this year, to elect President and Members of Parliament to steer the affairs of the country in the next four years, beginning from 2021.
In this regard, the opposition party, NDC, on Monday, outdoored its 2020 Manifesto titled: ‘The People’s Manifesto’.
Below are what the opposition has promised to do in the energy sector if voted back to power on December 7:
The next NDC Government will:
a. aggressively support Ghanaian entrepreneurs, especially women, to build world-class energy businesses
b. review the implementation of the local content measures in the upstream oil and gas sectors and expand it to the power and renewables subsectors
c. use the energy sector to drive the productivity of our agriculture, industry, minerals,
and transportation sectors by providing fuel, power, and feedstock in line with our
integrated national planning framework.
Power Generation
The next NDC Government will:
steadily expand mini-hydro, thermal and renewable power generation to match growth
in demand, especially for heavy industries such as aluminium, iron and steel smelting
and for export
b. work to ensure the supply of affordable, reliable and sustainable supply of power for economic growth
c. administer the implementation of the Energy Sector Levy Act (ESLA) and the Cash Waterfall mechanism transparently to restore financial viability.
National Electrification
The next NDC Government will:
a. work to achieve universal access by 2025 by accelerating the rate of connectivity to the national grid where possible and deploying renewable energy systems where grid access is unrealistic
b. use proceeds from ESLA to boost the capacity of Ghanaian companies to achieve
universal access by 2025
c. promote sustainable and productive use of electricity to support rural industries
Reliability and Affordability of Power
The next NDC Government will:
a. prioritise cheaper hydropower for heavy industries (job creation) and vulnerable
homes (social safety nets) and use the rest to further lower average thermal tariffs
b. provide tax and other incentives to encourage thermal generators to lower tariffs
c. deploy smart technology to reduce power losses.
Universal Street lighting
The next NDC Government will:
resume universal street lighting programme to enhance public safety, security and
boost the night economy starting with major cities and district capitals by leveraging
the streetlight component of the ESLA
b. progressively light every village in the country through the ‘Light Up’ Ghana initiative.
Upstream Petroleum
The next NDC Government will:
a. prioritise the use of our oil and gas resources to propel accelerated economic growth, job creation and rapid industrialisation
b. set Ghana on the path to achieving production of one million barrels of oil per day
(1mbpd) by 2030
c. adopt policies and programmes that will ensure that all Ghanaians derive maximum
benefits from our petroleum resources
d. restore investor confidence and ensure transparency in the sector
e. ensure strict adherence to the provisions of the petroleum sector regulations and laws
f. make the allocation of exploration and production rights transparent and commercially effective
Downstream Petroleum
The next NDC Government will:
a. ensure value addition to our petroleum resources
b. reposition the Tema Oil Refinery to process our own crude oil
c. restore BOST to its core mandate of holding a national strategic stock in order to cushion the erratic price increase associated with the absence of fuel stock in the country
d. expand the Atuabo Gas Processing Plant to meet the national demand for gas-related products
e. aggressively promote LPG use as a substitute for wood fuel
f. revert to the use of Landing Beach Committees for pre-mix fuel distribution and
management to ensure transparency.
Renewable Energy
The NDC is committed to renewable energy as a clean, climate-friendly, electricity solution for households, remote communities and light industries.
The next NDC Government will deliver a golden age of renewables. We will surpass the ten (10) per cent of the energy mix specified in the
Renewal Energy Act by:
a. establishing a Renewable Energy Commission to give focus to our campaign on
renewables
b. accelerating the development of grid-connected solar, wind and biomass plants
c. encouraging the use of Roof-Top Solar by artisans and small businesses
d. requiring all new government buildings to incorporate solar systems in their designs, cost and implementation
e. retrofitting existing government buildings with solar systems
f. providing incentives for investment in the manufacture of solar panels and accessories in Ghana, including removal of import duties on solar equipment and accessories
g. encouraging private businesses and public institutions to use solar power
h. promoting the teaching of courses in renewable energy in TVET institutions.
Source:www.energynewsafrica.com
Mozambique: Ministry of Energy Backs Upcoming 2021 Gas & Power Conference
Africa Oil & Power has signed a strategic partnership with Mozambique’s Ministry of Mineral Resources and Energy for the upcoming Mozambique Gas & Power 2021 Conference & Exhibition (March 8-9).
Africa Oil & Power (AOP) has signed a strategic partnership deal with Mozambique’s Ministry of Mineral Resources and Energy (MIREME) for the inaugural Mozambique Gas & Power (MGP) 2021 Conference & Exhibition.
The event will take place in Maputo on March 8-9, 2021.
The partnership defines MIREME as an official patron and event partner.
Minister of Mineral Resources and Energy H.E. Max Tonela will be in attendance, accompanied by a ministerial delegation of high-level decision makers; Africa Oil & Power represents the continent’s leading investment promotion platform for the energy sector.
“MGP 2021 provides a unique avenue for Mozambican energy authorities to engage with the local and global market, and to define opportunities for new and existing investors to make headway,” says Sandra Jeque, International Conference Director at Africa Oil & Power.
“We are both honored and excited to forge a strategic partnership with the Ministry, as it communicates to investors that government is proactively committed to building transparency, facilitating the ease of doing business and advocating private sector participation in the country’s most bankable projects.”
Under the theme Leveraging LNG: Building A Prosperous Mozambique MGP 2021 seeks to position the country as it prepares to transform into one of the top LNG exporters globally from 2022.
The conference targets investment opportunities across gas and power sectors; downstream diversification; and local capacity building, with a long-term view to utilizing gas resources to spur export generation, economic diversification, skills development and job creation across the energy value chain.
Interested in gaining insight on the current and future path of Mozambique’s growing energy market? Don’t miss out on H.E. Minister Max Tonela’s keynote presentation, or the chance to network with the ministerial delegation.
Source: www.energynewsafrica.com
Ghana: NDC Solved ‘Dumsor’ Before Leaving Office-Ofosu Ampofo Insists
Ghana’s largest opposition party, the National Democratic Congress (NDC), has insisted that it ended the five years’ power crisis that hit the West African nation before exiting power in 2016.
According to the National Chairman of the party, Samuel Ofosu Ampofo, his party, led by former President John Mahama ended the power crisis before he left office. And this, he said is contrary to claims by the governing party that it ended the when it assumed office.
Ghanaians will go to the polls on December 7, this year, to elect President and Members of Parliament to steer the affairs of the country.
Ghana: Four New Oil Refineries In The OffingAhead of the polls, both the two leading political parties, NPP and NDC, which have had the opportunity to govern the country, are working hard to convince and explain to the electorate, which party is more competent and better in managing the country. And the issue of which party has handled the energy sector of the country better is among the issues currently being discussed in the Ghanaian media. Speaking at the outdooring of the party’s 2020 Manifesto, the National Chairman of NDC, Samuel Ofosu Ampofo said when NDC was in government, under John Mahama, they invested in energy infrastructure and, thereby, succeeded in ending the power crisis which was christened ‘dumsor’ in the Ghanaian parlance. “Today, if Ghanaians enjoy continuous electricity in their homes and businesses, it is due to the prudent extensive infrastructural investments undertaken by the last NDC administration led by President John Dramani Mahama, in the energy sector. The NDC has positively impacted the lives of the people of Ghana in every aspect of our lives,” he said Source:www.energynewsafrica.com
ExxonMobil Announces Redtail Oil Discovery Offshore Guyana
U.S oil and gas supermajor, ExxonMobil has announced another oil discovery off the coast of Guyana, at its Redtail well.
The US firm, which operates the huge Liza field off the South American nation, said the find is its 18th in Guyana.
Exxon said the Redtail-1 well in the Staborek block encountered 232feet of high quality oil-bearing sandstone.
It will now add to estimated recoverable resources of more than eight billion barrels of oil equivalent at Stabroek, it added.
ExxonMobil drilled the find around 1.5miles northwest of Yellowtail, another discovery it made in April last year.
The firm is 45% owner and operator of Redtail, partnered with Hess Guyana (30%) and Cnooc (25%).
Kariya Energy Set To Acquire Oil And Gas Assets In AfricaIn addition, drilling at the Yellowtail-2 well encountered 69 feet (21 meters) of net pay in “newly identified, high quality oil bearing reservoirs” among the original Yellowtail-1 discovery intervals. Exxon said this is being evaluated for development in conjunction with nearby discoveries. Mike Cousins, senior vice president of exploration and new ventures, said: “Our Stabroek Block exploration program continues to identify high-quality reservoirs in close proximity to previous discoveries, establishing efficient opportunities for new projects in Guyana. “Developing these projects remains an integral part of ExxonMobil and our co-venturers’ long-term growth plans and a source of significant value for Guyana.” Exxon is a major player off Guyana, having started up first production at the Liza field in December last year, paving the way to vast reserves. Approximately 80 Guyanese employees, contractors and subcontractors took part in Redtail activities offshore, and more than 2,000 Guyanese and 600 local suppliers are supporting ExxonMobil’s activities in country, the firm said. John Hess, CEO of Hess Corporation, said: “The Redtail-1 and Yellowtail-2 discoveries further demonstrate the significant exploration potential of the Stabroek Block and will add to the recoverable resource estimate of more than 8 billion barrels of oil equivalent. “Redtail is the ninth discovery in the southeast area of the block which we expect will underpin future development.” Source:www.energynewsafrica.com
Kariya Energy Set To Acquire Oil And Gas Assets In Africa
Kariya Energy, a U.S based oil and gas company, has hinted of plans to enter into various definitive agreement to acquire upstream and midstream oil and gas assets in African countries.
The energy company announced this in a press statement distributed by APO Group.
Kariya Energy’s technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.
Kariya Energy and its management team’s engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities.
After spending 16 months reviewing data from various IOC’s, Kariya Energy will be pursuing acquisitions of various exploration and development plays either through Farm-in deals or operatorship through risk service contracts, or direct negotiations with sovereign governments.
Kariya Energy will continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.
Kariya Energy’s strategy has focused on the innovation and evaluation of new opportunities for resource extraction with great technology that has produced results.
Kariya Energy will pursue profitable small-scale LNG projects across Africa, a niche that its leadership has been skillful in building and making it profitable and scalable, boasting significant potential across the African market.
With its technology, Kariya can turn around African small-scale LNG and work with partners in addressing off-grid power generation for industrial and residential needs in remote locations and deal with issues around energy poverty.
Source:www.energynewsafrica.com