Latest news with #TullowOil
Zawya
2 days ago
- Business
- Zawya
Gabon Oil Company Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 Following Major Asset Acquisition from Tullow Oil
Marcellin Simba Ngabi, CEO of Gabonese parastatal Gabon Oil Company (GOC), is set to speak at Africa's premier energy event, African Energy Week (AEW): Invest in African Energies 2025, which takes place in Cape Town from September 29 to October 3. Ngabi's presence at AEW: Invest in African Energies 2025 signals a bold new era for state-led energy development as GOC transitions from a partner in operations to a primary driver of upstream growth and regional integration. Ngabi's participation comes shortly after the GOC's landmark $300 million acquisition of oil and gas company Tullow Oil's entire Gabonese portfolio, a transaction that includes 10,000 barrels per day (bpd) in production and 36 million barrels of proven reserves. The acquisition underscores GOC's strategic push to ramp up national oil production and attract new investment into Gabon's energy sector. During AEW: Invest in African Energies 2025, Ngabi is expected to share insight into the company's portfolio expansion, detailing how this recent acquisition supports the country's broader production goals. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. With over two billion barrels of proven oil reserves and significant gas potential, Gabon is reasserting its position as one of Africa's most promising energy frontiers. As the country seeks to boost production to 220,000 bpd, GOC is spearheading efforts to optimize mature fields, unlock value from marginal assets and fast-track project development. Recent developments include the GOC's oilfield development partner BW Energy's fast-tracked production start at the Hibiscus South satellite prospect, situated in the Dussafu license, which added 5,000-6,000 bpd within five months of discovery. Meanwhile, in 2024, GOC completed the acquisition of the private equity company Carlyle Group-owned Assala Energy – adding seven onshore licenses, a pipeline network and the Gamba export terminal to its portfolio. These milestones highlight GOC's commitment to rapid asset turnaround and production growth. Beyond oil, GOC is advancing Gabon's Gas Master Plan to monetize the country's three to five trillion cubic feet of natural gas reserves. Strategic initiatives include independent oil and gas company Perenco's $1 billion Cap Lopez LNG terminal – set to come online in 2026 – and the Batanga LPG plant, which became operational in December 2023. These efforts form part of a broader national drive to reduce flaring, strengthen downstream industries and diversify the country's energy mix. At AEW: Invest in African Energies 2025, Ngabi is expected to showcase Gabon's revitalized upstream agenda, highlight new investment opportunities across the oil and gas value chain and outline the national oil company's vision for leveraging international partnerships to drive sustainable growth. His participation is also set to highlight how national oil companies are transforming Africa's energy narrative through bold acquisitions, technology adoption and regional cooperation. 'Gabon's recent acquisitions and project milestones position the country as a rising force in Africa's upstream resurgence. Ngabi's participation at AEW: Invest in African Energies 2025 reinforces the central role national oil companies are playing in unlocking Africa's energy future, and we look forward to his insights on Gabon's strategic roadmap,' stated Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Yahoo
5 days ago
- Business
- Yahoo
London-listed Tullow Oil sees merger with Meren Energy collapse
Talks about a merger involving Tullow Oil, the London-listed African oil explorer, and Meren Energy, a Canadian-listed peer, have collapsed. Sky News has learnt that discussions about a tie-up were progressing as recently as this month but are now said to have been terminated. It was unclear on Tuesday evening what the reason was for the abandonment of the negotiations. Tullow Oil, which has a market valuation of about £275m, is focused on West-African producing assets in Ghana, Gabon and the Ivory Coast. The company has seen its stock plunge dramatically since its peak valuation of about £15bn. Last December, it saw merger talks involving Kosmos Energy fall apart. Meren Energy, which until recently was called Africa Oil Corp, is substantially larger than Tullow Oil in valuation terms. Listed in Canada and Sweden, it has a market capitalisation equivalent to approximately £980m. Run by chief executive Roger Tucker, Meren recently said it had up to $500m to spend on acquiring producing assets in Africa. A spokesman for Tullow Oil declined to comment.
Sky News
5 days ago
- Business
- Sky News
London-listed Tullow Oil sees merger with Meren Energy collapse
Talks about a merger involving Tullow Oil, the London-listed African oil explorer, and Meren Energy, a Canadian-listed peer, have collapsed. Sky News has learnt that discussions about a tie-up were progressing as recently as this month but are now said to have been terminated. It was unclear on Tuesday evening what the reason was for the abandonment of the negotiations. Tullow Oil, which has a market valuation of about £275m, is focused on West-African producing assets in Ghana, Gabon and the Ivory Coast. The company has seen its stock plunge dramatically since its peak valuation of about £15bn. Last December, it saw merger talks involving Kosmos Energy fall apart. Meren Energy, which until recently was called Africa Oil Corp, is substantially larger than Tullow Oil in valuation terms. Listed in Canada and Sweden, it has a market capitalisation equivalent to approximately £980m. Run by chief executive Roger Tucker, Meren recently said it had up to $500m to spend on acquiring producing assets in Africa.
Yahoo
14-06-2025
- Business
- Yahoo
Kosmos Energy (KOS): Among the Energy Stocks that Gained the Most This Week
The share price of Kosmos Energy Ltd. (NYSE:KOS) surged by 18.75% between June 5 and June 12, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let's shed some light on the development. A drilling platform in the middle of the ocean, showing the oil and gas exploration process. Kosmos Energy Ltd. (NYSE:KOS) is a leading deepwater exploration and production company with assets in proven basins offshore Ghana, Equatorial Guinea, and the Gulf of America, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos Energy Ltd. (NYSE:KOS) received a boost last week after it was revealed that the company has signed an initial agreement with its partners, including Tullow Oil and authorities in Ghana, to extend the licenses covering the West African country's Jubilee and Tweneboa-Enyenra-Ntomme (TEN) fields. The MoU outlines a comprehensive plan that includes the approval to drill up to 20 additional wells at Jubilee with an approximate $2 billion worth of local investment. The deal also includes commitments to increase gas supply to around 130 million standard cubic feet per day, a reduced price for associated gas at Jubilee, and a reimbursement mechanism covering gas sales. While we acknowledge the potential of KOS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
Kosmos Energy (KOS): Among the Energy Stocks that Gained the Most This Week
The share price of Kosmos Energy Ltd. (NYSE:KOS) surged by 18.75% between June 5 and June 12, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let's shed some light on the development. A drilling platform in the middle of the ocean, showing the oil and gas exploration process. Kosmos Energy Ltd. (NYSE:KOS) is a leading deepwater exploration and production company with assets in proven basins offshore Ghana, Equatorial Guinea, and the Gulf of America, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos Energy Ltd. (NYSE:KOS) received a boost last week after it was revealed that the company has signed an initial agreement with its partners, including Tullow Oil and authorities in Ghana, to extend the licenses covering the West African country's Jubilee and Tweneboa-Enyenra-Ntomme (TEN) fields. The MoU outlines a comprehensive plan that includes the approval to drill up to 20 additional wells at Jubilee with an approximate $2 billion worth of local investment. The deal also includes commitments to increase gas supply to around 130 million standard cubic feet per day, a reduced price for associated gas at Jubilee, and a reimbursement mechanism covering gas sales. While we acknowledge the potential of KOS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and Disclosure: None. Sign in to access your portfolio
