Uganda to Finalize Oil Exploration Deal with Nigerian Firm
Uganda is set to sign on Thursday two oil production sharing agreements with a Nigerian firm, enabling the company to begin exploration work, the government said on Wednesday. The firm, Oranto Petroleum International…
Total Splashes out on Uganda Expansion with Tullow Stake Deal
French oil major Total has expanded its stake in Uganda's Lake Albert oil project by snapping up most of Tullow Oil's stake for $900 million, the companies said on Monday. The deal, which includes $200 million in cash…
Tanzania, Congo Sign Deal for Petroleum Exploration in Lake Tanganyika
Tanzania and the Democratic Republic of the Congo signed a memorandum of understanding on Tuesday for joint exploration and development of hydrocarbons in Lake Tanganyika. The lake, which straddles the border between Tanzania…
Total Conducting Seismic Testing on Congo Oil Block
French oil major Total is conducting seismic testing on a block it operates in northeastern Democratic Republic of Congo, a company spokeswoman confirmed on Thursday, making it the first oil major to conduct such testing in the country.
Congo's President Approves New Oil Code
Democratic Republic of Congo President Joseph Kabila has approved a new oil code intended to impose order on a haphazardly regulated sector, according to a copy of the law seen by Reuters on Monday. The code, which Kabila…
Uganda's 'Oil Rush' Town Stuck in the Slow Lane
Before the discovery of large amounts of oil in Lake Albert, Hoima was a forlorn and remote town in Western Uganda, whose main sources of income were farming and the trickle of tourists heading to nearby national parks.
Spike Seen in African Offshore Disputes, Oil Companies Watching
African maritime boundary disputes are expected to rise dramatically, potentially curbing exploration and creating uncertainty in ownership over tens of billions of barrels of oil, industry experts say. A lack of maritime boundary agreements…
Israeli Billionaire Finds 3b Barrels of Oil in Congo
An oil company owned by Israeli billionaire Dan Gertler said on Thursday it had discovered around 3 billion barrels of oil in the Democratic Republic of Congo, an amount similar to the proven reserves of oil producers Britain and South Sudan.
Uganda Repossesses Oilfield From Tullow
Uganda said it repossessed an oilfield that belonged to Tullow Oil Plc after the period allotted to appraise the site expired. The London-listed exploration company said the field was uneconomical. Uganda expects to start…
Soco to Begin Seismic Testing in Virunga Park
British oil company Soco International will start seismic tests this weekend in Democratic Republic of Congo's Lake Edward, an executive said on Wednesday, despite campaigners' attempts to block exploration in a world heritage site.
