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Ophir Energy Appoints Golar as Midstream Partner for Fortuna FLNG Project in Equatorial Guinea

Golar LNG ("Golar") announced today that it has signed a binding Heads of Terms with Ophir Energy Plc ("Ophir") for the provision of the GoFLNG vessel Gimi. The Heads of Terms has been approved by Ophir's Equatorial Guinea, Block-R upstream partner GEPetrol, and will be formally ratified by GEPetrol next week. The agreement will be structured as a 20-year tolling contract, commencing commercial operations in the first half of 2019. Block R's 2.5 tcf of high purity 2P gas resources, situated in an area of benign sea states, are ideally suited for the application of Golar's GoFLNG technology. 

BP confirms Start Up of Kizomba Satellite Fields Offshore Angola

“This is the first of BP’s planned start-ups for 2015 and is another successful project from this prolific block,” said Darryl Willis, BP’s regional president, Angola. “We expect to follow this up later in the year with the Greater Plutonio phase 3 project in neighbouring Block 18 which is operated by BP.”

Eni Starts Production of Cinguvu Offshore Field at West Hub Development in Angola

Eni started production two weeks ahead of schedule at the Cinguvu oil field, from the West Hub Development Project in Block 15/06 in the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo. The start-up follows the achievement of West Hub’s first oil through Sangos field start-up, during last November 2014.

South Africa Backdrop still Supportive for Shale Gas

Challenger Energy (CEL) is making progress towards the award of exploration permits with the submission of the updated environmental management programme (EMPr) in late February. If the legislative framework is in place by this northern hemisphere summer, CEL could potentially be awarded a licence and commence its work programme in Q315, with corehole drilling starting 12-18 months later. Meanwhile, the power crisis in South Africa is getting worse, highlighting the need for new energy sources including gas. CEL remains in farm-out discussions. A licence award and farm-out could lead to a near-term re-rating, with longer-term upside based on drilling success.

Seven Energy Begins Supply of Gas to Calabar NIPP - Nigeria

Seven Energy International Limited (“Seven Energy”), the indigenous Nigerian integrated gas Company has commenced the supply of gas to the 560 MW Calabar National Integrated Power Project (“NIPP”). The commercial delivery of gas to Calabar NIPP commenced in March 2015, and is being executed through Accugas, a wholly-owned subsidiary of Seven Energy. When operating at full capacity Calabar NIPP will increase national power generation by over 10%.

VAALCO Energy Announces Continued Success with First Production from Etame 12-H

VAALCO Energy, Inc. (NYSE: EGY) today announced first production from Etame 12-H, a development well drilled from the Etame platform offshore Gabon.  Etame 12-H was drilled to a measured depth of approximately 3,450 meters targeting the recently discovered, untapped lower lobe of the Gamba reservoir.  Following completion operations, the well was brought online at the rate of approximately 2,000 BOPD on a gross basis (approximately 500 BOPD net to VAALCO) with no indication of hydrogen sulfide (H2S).  

Sahara Group Upstream Optimistic over Prospects from OPL 274

Sahara Group's Upstream affiliate Enageed Resource Ltd said it is making good progress with activities in OPL 274 where Sahara operates with a 100% working interest, even as the company continues to press towards optimizing opportunities in the block where last year it hit "first oil". Enageed doubled its certified 2P reserves in Oki-Oziengbe South field in Edo State, while also making a new commercial discovery with the Oluegi-1 exploration well.

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