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South Africa Makes Significant Oil Discovery

AFRICANGLOBE - Total, a French oil and gas giant says it has made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin, offshore South Africa.

Exxon Mobil Announces More Oil And Gas Discoveries Off Guyana

AFRICANGLOBE - Exxon Mobil said Wednesday it made two more oil and gas discoveries offshore of Guyana, bringing the total number of discoveries up to a dozen near the tiny South American nation. Outside of West Texas' booming Permian Basin, Exxon Mobil's biggest growth area is now offshore Guyana.

Ethiopia Needs Three Years To Develop Newly Discovered Oil Resource

AFRICANGLOBE - Ethiopia's Ministry of Mines, Petroleum and Natural Gas disclosed that the country needs additional three years to develop its petroleum resources in the Ogaden area. The nation has announced in June that it has discovered a huge crude oil reserve in the Ogaden area, eastern part of the country.

Somalia Awakens As East Africa’s Oil Province

AFRICANGLOBE - As Somalia announces plans to open its first offshore exploration license round in 1Q 2017, explorers analyzing new seismic data have recognized the potential of finding reserves to match those of its neighbors in East Africa. Beyond that, critically, they are discovering that Somalia’s potential is not just gas: Here lies a gem of an unexplored oil basin.