National Oil Corporation (NOC) and Sonatrach, the state-run firms of Libya and Algeria, respectively, met to discuss joint activities and balance sheets for 2018 for Blocks 65 and 95/96 in the Ghadames basin. The budget for 2019 covering the two blocks was also part of the discussion. The parties also discussed a report evaluating the…
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to provide the following operational and corporate update in relation to its Egyptian portfolio. Current production from the Abu Sennan concession is approximately 3,800 barrels of oil per day (“bopd”)…
Globally 71 FPSOs are expected to start operations by 2025. South America will continue to lead globally with planned deployment of 31 FPSOs, followed by Africa and Europe with 16 and seven FPSOs, respectively by 2025. Among countries, Brazil continues to dominate in terms of deployment of planned and announced FPSOs, followed by Australia, Angola…
The Business Development Manager Ecleroen GMBH, Ulf Lohse has emphasised the need for Nigeria to boost investment in solar energy to address the lingering power crisis in the country. He spoke at a two-day public forum organised by Econsultants Limited in conjunction with German eclareon GmbH, Ideas Into Energy GmbH and the German Federal Ministry…
The Federal Government has said the funding for early works of resettlement and surveys is ongoing for the $5.72 billion (about N2 trillion) Mambilla hydropower project in Taraba State expected to generate 3050 megawatts (MW). There have been legal crisis by acclaimed local partner, Sunrise Power and Transmission Company, that could derail the kickoff of…
The Transmission Company of Nigeria (TCN), says the Board of French Development Agency (AFD) has approved 245 million dollars for the implementation of transmission projects in northern corridor. Mrs Ndidi Mbah, the General Manager, Public Affairs, TCN, who made this known in a statement on Monday in Abuja said that the fund was approved on…
The power transmission capacity in the North-East has increased by 100 per cent, the Transmission Company of Nigeria has said. According to the TCN, the transmission capacity in the region doubled after the recent installation of two 330kV transmission substations in the North-East. On the transmission capacity in the North-East, he said, “We have concluded…
The Bureau of Public Enterprises (BPE) has amended the timeline for the conclusion of the privatisation of Yola Electricity Distribution Company (Disco) in Adamawa State and the 987.2 megawatts (MW)- capacity Afam Power Generation Company (Genco) in Rivers State, it was gathered Wednesday in Abuja. According to reliable sources in the BPE, the conclusion of…
Twenty of the 25 power generation companies (GenCos) in Nigeria’s electricity market do not have active power purchase agreements (PPAs), five years after the country concluded its power market privatisation. A status report from the Nigerian Electricity Regulatory Commission (NERC), equally stated that 18 of the 25 power firms do not have guaranteed gas supply…
Despite its 202 trillion standard cubic feet, scf, gas reserves, Nigeria has not been able to harness enough of its gas for power generation, as a result of many challenges, including low investment, inadequate funding of projects and huge indebtedness to gas suppliers. A compilation of industry figures obtained from the office of Vice President…
