Multinational oil and gas company BP could start producing first oil from a floating, production, storage and offloading (FPSO) vessel – from the Palas-Astraea-Juno (PAJ) project in Block 31 off Angola – by 2022, Upstream has reported.
First oil and gas production will generate more than foreign revenues for emerging producers like Senegal, Mauritania, Uganda and Namibia – instead cementing diversification and regional integration as key pillars of modern-day export economies.
The board of the Fund for Export Development in Africa has received the necessary internal approvals for the acquisition of a minority stake in Geregu Power.
