Montfort Group acquires oil storage terminal in Mozambique

MOZAMBIQUE – Following its recent acquisition of Kencor Petroleum Limited (Kencor) in Kenya, Montfort Group has now successfully completed the acquisition of equity in Matola Terminal de Armazenamento de Petróleos SA, a company that owns and operates an oil tanking storage Terminal in the Port of Matola, Mozambique. This acquisition falls in line with the company’s strategic expansion plans in the African continent. The Terminal, which Montfort will own, develop, and operate in close partnership with Energi Asia, has over 58,000m3 of clean product storage capacity. The Terminals’ state-of-the-art latest…

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Engineering company McDermott receives conditional Letter of Award for Tilenga Project in Uganda

UGANDA – A consortium of a subsidiary of McDermott International and Sinopec International Petroleum Service Corporation announced it has received a conditional Letter of Award for the future contract valued at approximately US$2 billion from Total for the Tilenga project in Uganda. The Tilenga project is located in the Lake Albert Basin, Republic of Uganda and is the centerpiece of oil projects projected to bring investments of over US$10 billion to Uganda and Tanzania. Tilenga includes six oil fields and will feature 426 oil wells at full production and formal…

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Zambia and Angola oil pipeline deal nears conclusion

ZAMBIA – The governments of Zambia and Angola are expected to sign a Memorandum of Understanding (MoU) that will facilitate the commencement of a feasibility study on the establishment of the Angola-Zambia Oil Pipeline. Speaking in an interview with the Zambian Business Times, Energy Minister Mathew Nkhuwa said the signing of the MoU will take place in May 2021. “Well, we are currently to finalizing the MoU so that we can sign with our Angolan counterpart, suffice to say that the MoU signing might be done virtually, or we will…

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Standard Bank hires an advisor to assess its involvement in the East Africa oil pipeline project

EAST AFRICA – Standard Bank of South Africa has hired an independent environmental and social advisor to help assess its involvement in Total’s East African Crude Oil Pipeline that environmental lobby groups have opposed, the lender has said. Approximately 263 civil society organisations from around the world, have urged the chief executives of 25 banks not to participate in loans to fund the construction of the US$3.5 billion East Africa Crude Oil Pipeline. They environmentalist have argued in an open letter that this pipeline would pose immense threats to local…

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Apex International Energy discovers oil in Western Desert of Egypt

EGYPT – Apex International Energy, a company backed in part by UK energy investment firm Blue Water Energy, has announced a new oil discovery in Southeast Meleiha Concession (SEM), located in the Western Desert of Egypt. The discovery was achieved at the SEMZ-11X well located 10 kilometers west of Zarif field, the nearest producing field. The well was drilled to a total depth of 5,700 feet and encountered 65 feet of oil pay in the Cretaceous sandstones of the Bahariya and Abu Roash G formations. Testing of the Bahariya resulted…

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