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INVESTMENT at the Anchois-2 well, which exceeded the com-
pany’s expectations. Then the firm upgraded its
BG buys Northeast Amriya net gas pay estimates for the Anchois-2 well from
100 metres to 150 metres, against 55 metres in
offshore concession in the original Anchois-1.
Last month, Chariot appointed Lon-
Mediterranean Sea from don-based Societe Generale to the role of finan-
cial advisor to develop debt funding options for
ExxonMobil the Anchois development.
bna/IntelliNews, May 20 2022
BG International, a wholly owned subsidiary of during the majority of the project period. YFP
Shell, signed a farm-out agreement with Exx- Africa Oil Corp. announces has undertaken to align its voting rights with Aje
onMobil Egypt to fully acquire and manage the Production’s objectives in the development of the
Northeast Amriya offshore concession in the receipt of Prime dividend Aje field.
Mediterranean Sea, known as Block 3, managed PetroNor and Panoro continue to finalise
by ExxonMobil for an undisclosed sum, media Africa Oil Corp. has announced that it has documentation to complete other elements of
sources reported. received a dividend from Prime Oil and Gas. the transaction which is expected to take place
BG will become the operator of Block 3 under The Company has a 50% shareholding in Prime. before June 30, 2022, as previously announced.
the deal, which is located in close proximity to Prime has distributed a $50.0mn dividend All other terms and conditions of the transac-
BG’s existing assets and other exploration areas with a net payment to Africa Oil of $25.0mn tion remain unchanged.
owned by Shell, opening the way towards accel- related to its shareholding. This is the second Petronor, May 23 2022
erating the pace of the company’s exploration Prime dividend distributed this year with Africa
and development activity in the offshore Med- Oil having received an aggregate amount of
iterranean. The company has plans to drill the $125.0mn. PERFORMANCE
first well in the new area in early 2023. Since acquiring its 50% interest in Prime for a
In 2020, BG Delta Ltd, a company owned cash consideration of $519.5mn in January 2020, Nigeria’s Q1-2022 GDP
by Shell (UK), acquired the right to operate the Africa Oil has received 12 dividends from Prime
Sidi Gaber Concession (Block 4) and Al-Fanar for a total amount of $525.0mn. growth up 3.11% y/y but
Concession (Block 6) in partnership with PICL As of March 31, 2022, Prime’s cash and debt
(Egypt) Corp. Ltd, acquiring seismic rights with positions net to Africa Oil’s 50% shareholding down from Q4-2021 as
portfolio maturation under way. were $265.7mn and $501.0mn respectively.
bna/IntelliNews, May 19 2022 These compare with corresponding cash of crude output drops
approx. $70.0mn and debt of $912.5mn at the
Chariot raises $25.5mn to time of Prime deal closing in January 2020. Nigeria’s economy grew 3.11% year on year in
real terms in the first quarter of 2022, showing
Africa Oil Corp., May 25 2022
fund Morocco’s Anchois PetroNor provides update sustained positive growth for a sixth consecutive
quarter since the 2020 recession brought on by
gas operations the COVID-19 pandemic.
GDP growth slowed from 3.98% in the pre-
Africa-focused transitional energy firm Char- on Aje transactions vious quarter due to a drop in crude produc-
iot has raised MAD257mn ($25.5mn) to help With reference to the stock exchange announce- tion, which impacted the rest of the economy,
finance its operations in Morocco’s Anchois ment made January 27, 2022, and the update the National Bureau of Statistics (NBS) said on
offshore gas project and other renewable energy provided May 2, 2022, regarding the government Monday (May 23).
projects in Africa, according to a statement on consent provided to PetroNor E&P’s acquisition Nigeria recorded an average daily oil pro-
May 19. of Panoro’s ownership interest in Offshore Min- duction of 1.49mn barrels per day (mbpd) in
Chariot’s acting CEO, Andonis Pouroulis, ing Lease no. 113 (OML 113) offshore Nigeria, Q1-2022, down from 1.72mn bpd in the same
said the firm intends to bring the Anchois gas containing the Aje oil and gas field, and for the quarter the year before.
development online quickly, to fuel Morocco’s transfer of OML 113 to Aje Production AS. “Real growth of the oil sector was -26.04%
economic growth and deliver near-term cash PetroNor has announced that, as an interim (year-on-year) in Q1 2022, indicating a decrease
flows to its shareholders. step towards completion of the transaction, of 23.83 percentage points relative to the rate
The Anchois gas project lies within the PetroNor and the OML 113 Operator, Yinka recorded in the corresponding quarter of 2021,”
Lixus licence offshore Morocco and stretches Folawiyo Petroleum (YFP) have executed the NBS said.
over an area of around 2,390km square. Char- amendments to agreements for the formation Frequent vandalism and illegal refining in the
iot holds 75% of the Anchois project interest, of the jointly owned Aje Production, originally oil-producing Niger Delta region have kept the
while Morocco’s ONYHM has a 25% stake. The signed on December 5, 2019. sector under pressure, with Nigeria struggling to
company’s drilling operations resulted in the The amendments provide for YFP’s con- meet its production targets.
discovery of dry gas across seven reservoirs with tribution to Aje Production being limited to Meanwhile, the non-oil sector grew by 6.08%
approximately 150 metres net pay. the shareholding in the YFP DW company. As in real terms in the first quarter. “This rate was
Chariot earlier in May announced a success- a consequence, PetroNor’s ownership will be higher by 5.28 percentage points compared to
ful gas drilling campaign on the Anchois gas pro- increased to 52% and Aje Production will hold the rate recorded same quarter of 2021 and 1.34
ject, expanding its footprint offshore Morocco. In a 15.5% participating interest and an economic percentage points higher than the fourth quarter
January, it announced a significant gas discovery interest in the order of 38.755 % in OML 113 of 2021,” the NBS said.

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