The Buzz: This Week In Africa
At the beginning of the week, Brent Crude is trading at $73.31 per barrel, WTI at $68.37 and natural gas at $2.73 per million BTU (23 July 2018). Here are AOP’s top five stories from the last seven days.
SDX Energy makes gas discovery in Egypt
North Africa focused oil and gas company, SDX Energy, has made a gas discovery at its SD-3X well in the South Disouq Concession in Egypt.
The well was drilled to a total depth of 7,842 feet and encountered 32.6 feet of net conventional natural gas pay in the Abu Madi and Kafr el Sheik horizons. The company expects the Abu Madi testing phase to start between 30 and 45 days after the rig departs while South Disouq is set to come online for production in the fourth quarter of the year.
SDX Energy holds a 55 percent working interest in the South Disouq Concession.
Egypt: 15th Well in Nooros Field begins production
The Nedoko southwest 3 field has begun production; Minister Tarek El Molla told media on Tuesday.
The start of production at the gas field marks the 15th well of the Nooros natural gas field development in the Nile Delta area. The minister said the field is expected to produce an estimated 180 million cubic feet of natural gas daily and 1,500 barrels of condensate per day.
Alegria: Sonatrach and Eni strengthen partnership
Algerian state owned company Sonatrach and Italian oil major have signed an agreement to build a pipeline linking two gas blocks in the Berkine Basin.
The aim of the pipeline is to optimize existing assets, BRN Block 3 and MLN block 405b by creating a gas hub in the basin.
The World Bank approves $20m for Ghana Energy sector
The World Bank has approved a $20 million credit facility to support the Ghana Energy Sector Transformation Initiative Project.
The project will improve the state of the country’s power sector and put the government one step closer to achieving its goal of having universal power access by 2020.
Zambia renewable energy projects get $50m boost
The African Development Bank (AfDB) has approved a $50 million framework for renewable energy projects in Zambia.
The finances will be used for the Zambian government’s Renewable Energy Feed-in-Tariff (REFiT) which aims to be the solution to the country’s severe power shortages.