Gabon Deepwater - Leopard discovery
- Leopard-1 was drilled on licence BCD10
- Shell 75%*, CNOOC 25%
- Encountered substantial gas column with 200m net gas pay
- Further appraisal required
- FLNG? 3-4 tcf may be required, although economics of sales into Europe are marginal
- Government is also keen to grow domestic gas market
Congo Offshore - Eni/NewAge - follow up discovery in Marine XII
- Minsala Marine discovery
- Estimated 1bnboe in place, of which 80% oil
- In same shallow water block as the Litchendjili and Nene Marine fields, both of which are currently undergoing development
Angola - first discovery in Kwanza Basin
- Pre-salt offshore Kwanza Basin - oil discovery made by Repsol
- Will evaluate commerciality of the Locosso oil field
- Located in Block 22, immediately to south of Cobalt's Block 21 which contains the play opening Cameia field
- Given remote location and water depth, Wood Mackenzie estimates will require 300mmbbl to be commercial on standalone basis
Liberia, Cote d'Ivoire - Anadarko's non-commercial wells
- Anadarko wells in West Africa all encountered non-commercial oil
- Liberia: Iroko-1 and Timbo-1
- Cote d'Ivoire: Morue-1
- http://www.anadarko.com/SiteCollectionDocuments/PDF/Operations%20Reports/APC%203Q14%20Ops%20Report%2010-28-14.pdf
Nigeria - NNPC pre-empts sale of OML25
- NNPC has pre-empted on the sale of OML25
- Post transaction, NNPC will own 100% and likely transfer the interest to NPDC
- NPDC's portfolio is already overstretched and future investment will be heavily constrained
- The winning bidder of the Shell, Eni, Total process was Crestar Integrated Natural Resources Limited
- It is believed that the pre-emption, a decision made by the Minster of Energy, is due to Crestar's Chairman being Osten Olorunsola
- The Minister of Energy had fired Osten Olorunsola as Director of Petroleum Resources in June 2013
- http://africaoilgasreport.com/2014/11/farm-in-farm-out/nnpc-in-desperate-search-for-funds-to-pay-for-oml-25/
South Sudan - fighting likely to intensify around fields
- Government and rebels now re-arming following end of rainy season
- Sudan is providing South Sudanese Machar-led rebels with weapons and intelligence
- Rebels likely to set-up bases where they can attack oil fields
- Local self defence militia are guarding fields bolstered by Chinese peacekeepers
- Should prevent rebels gaining control of fields, but fighting likely to intensify
East African export pipeline
- World bank has pledged USD600mm funding towards Ugandan/Kenyan export pipeline
- Total cost estimated to be >USD4bn
- Project still remains in early stages - commercial structure, construction, ownership and operations all yet to be determined
- FEED contracts expected to be awarded end of 2014
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