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Offshore Africa Magazine - September 2024

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Offshore Africa Description:

Publisher: Jubert-Communications-Limited

Category: Business

Language: English

Frequency: 11 Issues/Year

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.

In this issue

South Africa Bullish on Walvishaai Oil Outlook

GOIL Opens $40M Bitumen Plant in Ghana

Nigeria Seeks $575Bln in New Energy Investments

Namibia Eyes $50 billion Oil Investments

Standard Bank Group, a leading financial services provider in Africa, sees great potential for investors in Namibia’s bullish hydrocarbons sector. It estimates about $50 billion capital is required to bring online recent oil and gas discoveries in deep water offshore the coast of the Southern African nation. Namibia is currently the hottest play in the world, with mouthwatering deals emerging. In July 2024, Woodmac’s summary said around 9 billion barrels of oil equivalent (BOE) had been discovered by the trio of Shell, Total and Galp (including contingent resources).

3 mins

South Africa Bullish on Walvishaai Oil Prospects

Following recent major deepwater oil and gas discoveries in Namibia’s exciting Orange Basin, neighbouring South Africa is beginning to salivate that its own version of mega hydrocarbons discoveries are in the offing.

2 mins

Archer Well Services and Raptor Create World Class Verification Business

Archer Well Services has secured a global exclusive license agreement with Raptor Data Limited, enhancing its well integrity & plugging and abandonment (P&A) offerings with innovative technology. This partnership integrates Raptor’s advanced wireless acoustic telemetry technologies into Archer Well Services’ well integrity portfolio, significantly improving monitoring capabilities.

1 mins

$24 Billion Invested in Ghana's Oil Sector

More than $24 billion have been invested in Ghana’s upstream since making its first major oil discovery in 2007, according to the country’s industry regulator.

2 mins

Bentley Systems Acquires 3D Geospatial Company Cesium

Bentley Systems, Incorporated the infrastructure engineering software company, has acquired 3D geospatial company Cesium. Cesium is recognized as the foundational open platform for creating powerful 3D geospatial applications, and its 3D Tiles open standard has been widely adopted by leading enterprises, governments, and tens of thousands of application developers globally.

1 mins

Invictus Sees Additional 2.9 TCF Gas in Cabora Bassa, Zimbabwe

Energy focused Australian company, Invictus says it has identified an estimated resource of 2.9 Tcf natural gas and 184 million condensate across eight prospects in eastern Cabora Bassa field in Zimbabwe.

3 mins

Nigeria Licenses First Floating LNG Plant

Nigeria is set to have its first-ever floating LNG plant, as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted UTM Offshore Limited permit to operate a floating liquefied natural gas plant to harvest flared gas from an ExxonMobil oil field in the Niger Delta of the country.

1 mins

Global Gas Market 'Fragile' as Demand growth forecast to exceed additional supply

The global gas market’s balance of supply and demand remains “fragile” as rising consumption is set to exceed output growth this year, according to a new report launched in Stavanger, Norway.

1 mins

Eni, Snam Launch Italy's First Carbon Capture and Storage Project

Eni and Snam, within the framework of the equal Joint Venture set up for the purpose, have announced the commencement of CO2 injection activities in the reservoir for Phase 1 of Ravenna CCS. Designed to support industrial decarbonisation, Ravenna CCS is the first project for the capture, transport and permanent storage of CO₂ in Italy created for exclusively environmental purposes.

4 mins

Nigeria Seeks $575 Billion Energy Investments

Nearly $575 billion capex investment opportunities are available across Nigeria’s energy sector, driven by the huge demand for green energy infrastructure and cleaner energy generation, says its midstream and downstream sector regulator. Power, infrastructure, oil and gas, processing optimization, industry and clean cooking are specific areas federal authorities reckon are key drivers of the slowing national economy.

3 mins

Dangote Refinery Supplies 25M Litres of Petrol to Domestic Market

Nigeria’s state-oil firm NNPC started lifting locally refined petrol from the Dangote refinery on Sunday, 15 September 2024, thus easing recurring petroleum shortages across the vast West African nation. NNPC had mobilized hundreds of petrol tankers (at least 300) to the facility ending decades of the country relying on imports, which cost billions of dollars annually.

1 mins

Blockade of Libyan Oil Facilities Cripple Production

Oil blockades have been a familiar tactic in Libya’s chaotic, violent politics since the 2011 ousting of long-term ruler Muammar Gaddafi.

2 mins

Aquaterra Energy Launches Offshore CCS and Hydrogen Storage Projects

Aquaterra Energy, a leader in offshore engineering solutions, today announces the launch of its legacy well re-entry and re-abandonment services along with its new patent-pending Recoverable Abandonment Frame (RAF). The combined solution will address challenges in locating, re-entering and re-abandoning legacy wells that penetrate, or pass through, offshore oil and gas reservoirs or saline aquifers that have been earmarked to be repurposed for carbon dioxide (CO2) or hydrogen storage.

2 mins

Bell 525 Helicopter on Oil & Gas Missions

The Bell 525 Relentless is an American super-medium helicopter developed by Bell Textron and designed to transport up to 19 passengers. The Bell 525 provides the ultimate platform for crew, passengers and maintainers. The award-winning helicopter offers the ruggedness, comfort, and flexibility needed in a difficult terrain, such as the offshore oil and gas environment.

1 mins

DUBAL Successfully Completes Rooftop Solar Power Generation Project

DUBAL Extrusion Investment (DEI), a wholly owned subsidiary of DUBAL Holding (DH), successfully completed the rooftop solar power generation project (phase I) at OSE Industries, a local aluminium extrusion company owned by DEI, reinforcing its commitment to sustainability and contributing to the UAE’s renewable energy goals.

1 mins

Ethiopia Hikes Electricity Tariff, Subsidizes Poor Households

Ethiopia began implementing increases to electricity tariff on September 11, 2024 as part of a four year plan to boost revenue, however lower income consumers will get differentiated subsidy packages the state utility has pledged.

2 mins

Widespread Power Cuts Trigger Energy Concerns in Kenya

For the second time in a week (in early September) several parts of Kenya were cut off the national grid power, fuelling fresh concerns of a debilitating power crisis in the East African country.

2 mins

Energy-starved Zambian Copper Mines Switch to Power from South Africa

Zambia’s biggest mines are turning to a surprising power source as the copper-producing nation battles an unprecedented energy crisis: South African electricity company Eskom Holdings SOC Ltd., which until March faced its own severe deficit.

2 mins

Ghana's Gold Output to Rise by 600,000 Ounces

With the anticipated start-up of two monstrous gold mines in the country later this year, Ghana’s annual gold production will increase by about 600,000 ounces.

2 mins

Structural twin unlocks 35% OPEX reduction as Akselos launches Structural Performance Management for FPSOS

Akselos, a global leader in Structural Performance Management (SPM), launches its cutting-edge SPM for FPSO 4.0 software. The revolutionary software enhances asset performance, ensures uninterrupted operations and extends asset life of FPSOs.