Petroleum Africa
Find us on: 
Monday, February 19, 2024
Wildcat Petroleum announced that it has passed a due diligence process conducted by the South Sudanese Ministry of Petroleum (MOP). This process included the evaluation of the company’s technical competency as well as its financial capability to complete a major multi-million/billion-dollar oil production purchase.
This clearance is required from the MOP before Wildcat can undertake any petroleum deal in the country including the purchase of large-scale oil production.
Financial backing for the potential purchase of any production in South Sudan has been provided by a number of industry investors, including The Waterford Group.
Wildcat Chairman Mandhir Singh commented: “The Wildcat team has been involved in the South Sudan oil industry since oil was first discovered there. We are happy to have passed the arduous due diligence process and received a top-level ranking. Wildcat has been invited by the MOP to visit them in Juba and conduct talks regarding current oil production opportunities in the country.”
Further, as previously disclosed, the Republic of Sudan’s oil ministry has offered the Bamboo Field to Wildcat for development under a service agreement which would later convert to a Production Service Agreement. Wildcat has submitted a work program and is awaiting approval from the minister. Disruption to the Sudanese telecom infrastructure has hindered the completion of the deal.
Maurel & Prom notes the signing on 15 February 2024 of a share purchase agreement (‘SPA’) between the Gabonese national oil company Gabon Oil Company (‘GOC’) and Assala Energy Investments (‘Carlyle’) regarding GOC’s acquisition of Assala Energy Holdings and all of its subsidiaries. This signing has occurred in the context of GOC’s sovereign right of pre-emption and supersedes the SPA signed by M&P and Carlyle on 15 August 2023.
" alt="TAG Oil Completes Fraccing Program at Egypt’s T100 Well in Western Desert">
" alt="Sintana to Expand Asset Base in Namibia with Acquisition">
" alt="Luanda Gives Afentra Nod for Azule Acquisition">
" alt="TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets">
" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">
" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">
" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">
" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">
