Offshore Africa Magazine - January 2025

In this issue

Will oil prices remain bullish despite the new U.S. administration’s commitment to increased drilling?

How is Eni progressing with its ambitious plans in the Ivory Coast as it continues to expand its portfolio of impressive assets?

Could the return of Ghana’s President John Mahama provide the much-needed boost to revive the country's underperforming upstream sector?

Chevron, Galp, Others to Drill Oil Wells in Namibia

US super major Chevron and Galp Energy are among oil companies preparing to drill high-impact wells in Namibia's deepwater Orange Basin beginning from the last quarter of 2024. At least 11 oil wells will be drilled before mid-2025.

1 min

Oil Price May stay at $70 per Barrel in 2025, says Morgan Stanley

Morgan Stanley expects Brent Crude prices to average $70 per barrel in the second half of 2025, up from a $66-$68 a barrel range expected previously, after OPEC+ delayed the beginning of its production increase and slowed the pace of the output hikes into 2026.

2 mins

Russia Weaponising Libya's Oil Against European Interests?

Libyan oil production has hit an 11-year high at 1.422 million bpd, recovering (at least for now) from the Central Bank control battle that saw oil once again taken hostage, with production cut in half earlier this year.

2 mins

OMMICA Celebrates 2024 Performance Milestones, Sets Goals for 2025

Despite uncertainty surrounding the UK's energy market, Scottish chemical analysis expert OMMICA has unveiled a 10% increase in sales in 2024 - amounting to a total exceeding £300,000.

1 min

Is Kosmos Energy's Aborted Tullow Takeover a Missed Opportunity?

The 'for sale' sign has gone up at Tullow Oil, and some analysts say US oil firm Kosmos Energy was honey-trapped into making a formal enquiry about a potential all-share offer to acquire the UK-based independent.

3 mins

PETROCI signs an agreement with SONANGOL

The International Exhibition for Extractive and Energy Resources recently recorded the signing of an agreement between PETROCI and SONANGOL, in the presence of the Minister of Mines, Petroleum and Energy, Mr.Mamadou Sangafowa Coulibaly and his Angolan counterpart, Mr.Diamantino Azevedo.

1 min

DNV Pioneers Certification for Safer, Scalable Hydrogen Production

DNV, the independent energy expert and assurance provider, has released a new standard, Electrolyser Systems DNV-ST-J301, embedded in DNV's certification framework for the equipment and facilities used in producing hydrogen and its derivatives through water electrolysis.

3 mins

Lessons from the West African Transform Margin Story

With oil prices primed to remain relatively tame this decade and beyond as the world begins counting down to energy transition and environmentally friendly energy sources, Offshore Africa Magazine has been exploring the frontiers of the West Transform Margin (WATM) and why it could feature prominently in the global exploration agenda.

2 mins

Ivory Coast Shines as Top Oil Investments Destination

Ivory Coast is advancing its enviable credential as oil and gas investment top spot in the West African region, as it continues to rake in multi-million-dollar exploration and production investments.

2 mins

Invictus Announces Completion of Independent Review of PPSA

The final independent review of the Petroleum Production Sharing Agreement (PPSA) for the Cabora Bassa project has been completed by external legal consultant and is due to be released in the coming weeks.

1 min

BP, ADNOC's XRG agree Egypt gas JV Arcius Energy

BP and Abu Dhabi National Oil Company's international investments arm XRG said in December they have closed a deal for a new natural gas joint venture in Egypt, as ADNOC expands its efforts to grow abroad.

1 min

Eni Targets 150,000Barrels of Oil, 200MMscf of Gas from Ivory Coast's Baleine Field

Italian energy giant Eni is currently studying the development of phase 3 of the prolific offshore Baleine field in Ivory Coast following the startup of Phase 2, which takes production to 60,000 barrels of oil per day and 70 million cubic feet of associated gas (equivalent to 2 million cubic metres).

1 min

Noble Venturer Begins New Ghana Drilling in May

US-based drilling giant Noble Corporation says its Noble Venturer drillship will commence a new drilling contract with Tullow Ghana in May 2025.

1 min

Mahama Promises New Momentum for Ghana's Troubled Oil and Gas Sector

Ghana’s President John Mahama says reviving the country’s ailing oil and gas sector will be his number one priority.

1 min

EXCLUSIVE INTERVIEW WITH MR. SOLOMON EWANEHI, MD OF SOLEWANT GROUP

Port Harcourt-based Solewant Group is pushing technology and innovation as key ingredients for indigenous petroleum firms to thrive at a time of increased competition for relevance, low operating cost and heightened concerns over the energy transition phenomenon.

4 mins

Solewant Group Helps Shape Future of Africa's Oil

Established 24 years ago, Solewant Group has emerged as a formidable leader in the manufacturing of steel pipes and pipe coating solutions in Nigeria.

4 mins

Resolving Nigeria's Recurring Power Grid Failures

Nigeria’s national power grid is prone to frequent collapses, with the resulting power shortages proving an obstacle to economic growth and investment in Africa’s most populous nation.

1 min

Dangote Refinery Exports Petrol to Ghana, Cameroon, Angola and South Africa

THE Dangote Petroleum Refinery said it has exported Premium Motor Spirit, PMS, also known as petrol to Cameroon, Ghana, Angola and South Africa.

1 min

Europe's Carmakers Hike Petrol Car Prices as New Emissions Rules Begin January 1

European automakers are raising prices of petrol cars and readying discounts on electric vehicles as they brace for yet another challenge - tougher emissions rules that threaten to further shrink profits across the struggling industry.

3 mins

Barrick Gold May Quit Mali over Harassments

Barrick Gold will suspend operations in Mali if gold shipments continue to be blocked, the company said in December as it struggles to reach agreement with authorities on a new mining code in the West African country.

1 min

Thor Confirms Diamond Discovery in Nigeria

West African-focused mining company Thor Exploration has confirmed the existence of significant diamond deposits in its Segilola Gold Mine South West Nigeria, after a recent drilling programme.

2 mins

Niger's Military Junta Seizes French Uranium Mine

The military junta in the Republic of Niger has taken control of the Somair Uranium Mine operated by French nuclear firm Orano.

1 min

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Offshore Africa Magazine Description:

Offshore Africa magazine is the voice of the African oil and gas industry. The publication is launched to highlight recent developments in the oil and gas sectors in Africa.