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BP to divest mature oil assets in Egypt to Dragon Oil

BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company.  Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary of the Emirates National Oil Company (ENOC).

Total agrees with Occidental to contingent acquisition of Anadarko’s assets in Africa

Total announces that it has reached a binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) for a consideration of 8.8 billion $ in the event of a successful completion of Occidental’s ongoing bid for Anadarko. The transaction is contingent upon Occidental entering into and completing its proposed acquisition of Anadarko and to approval by the relevant authorities and is expected to close in 2020. 

Africa Oil & Power 2019 to Show How Energy Will Generate Jobs, Economic Growth in Africa

Africa Oil & Power 2019 (www.AOP2019.com) is the official conference of South Africa’s Department of Energyand will welcome 20+ African petroleum and power ministers. AOP announces its 2019 theme #MakeEnergyWork.The theme will showcase the energy sector as a key driver of economic growth, jobs and opportunity for Africa’s people and private sectors. ‘Africa’s Energy Conference’ bridges traditional and alternative energy, fossil fuels and renewables, and petroleum and power to foster intra-African investment. 

U.S. Firms will not be left behind as Energy Investments pick up in Angola’s Oil Sector

Angola has emerged as the hub of foreign direct investments within Africa, and the prospects of attracting more FDI this year are bright, particularly in the country’s oil and gas sector. The ambitious reform agenda of President João Laurenço and that of the Minister of Mineral Resources and Petroleum, Dr. Diamantino Pedro Azevedo, has already resulted in increased investment from the country’s biggest European operators. This current state of play now presents an opportunity for North American companies to re-engage and re-invest in the Angolan market.

Rovuma LNG Development Plan Approved by Mozambique Government

Mozambique Rovuma Venture said today that the government of Mozambique had approved its development plan for the Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1.

New Oil Players Embrace President João Lourenço’s Investment Drive with Angola Oil & Gas 2019 Forum in June

Under President João Lourenço, the Angolan oil and gas sector has grown from strength to strength and opportunities await for businesses in all sectors who are keen to increase their exports into new markets.

South Africa’s State-owned Oil Company Signs Deal to Explore Highly-prospective Oil Block B2 in South Sudan

South Africa’s state-owned oil company Strategic Fuel Fund (SFF) will own and operate Block B2; In 2018, South Africa agreed to invest $1billion into South Sudan’s energy infrastructure; South Sudan has the third-largest oil reserves in sub-Saharan Africa, estimated at 3.5 billion barrels, with j

New Petroleum Agreement Between South Sudan and South Africa is a boost to Peace, Economic Recovery and the Oil Industry

The signing of the new exploration and production sharing agreement (EPSA) between South Sudan and South Africa’s Strategic Fuel Fund (SFF) is a boost to the oil sector and promotes peace and stability within the country. This landmark oil deal marks yet another achievement for Africa’s growing energy investments and will provide further boost to South Sudan’s economic revival.

ExxonMobil Acquires More Exploration Acreage Offshore Namibia

ExxonMobil said today it will increase its exploration acreage in Namibia with the addition of approximately 7 million net acres (28,000 square kilometers) following the signing of an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710 and 1810, and farm-in agreements with NAMCOR for blocks 1711 and 1811A.

IBM Services transforming Vivo Energy with SAP S/4HANA

IBM (NYSE: IBM) today announced that Vivo Energy, a market-leading company that distributes and markets Shell branded fuels and lubricants in Africa, has selected IBM Services for its digital transformation journey based on SAP S/4HANA®.  A rapid start to the relationship using agile methods has already led to the completion of a major project milestone with two out of fifteen of Vivo Energy's country locations transferred to SAP S/4HANA to help boost efficiency and unlock operational insights.

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