Page 13 - AfrOil Week 03 2020

AfrOil
NEWS IN BRIEF
AfrOil
UPSTREAM
Tower Resources
issues Cameroon
operational update
Tower Resources, the AIM-listed oil and gas company with its focus on Africa, is pleased to provide the following operational update on its work on the Thali licence in Cameroon, con- ducted through its wholly-owned subsidiary Tower Resources Cameroon SA.
As noted in previous updates, the company has applied to the Ministry of Mines, Industry and Technological Development (MINMIDT) for an extension of the initial period of the explo- ration phase of the Thali production-sharing contract (PSC) of up to one year from its cur- rent expiration date (of September 15, 2019), in accordance with the company’s PSC and the Cameroon Petroleum Code, for the purpose of completing the NJOM-3 well currently in pro- cess on the Njonji structure.
His Excellency the Minister has now formally notified the company that the government of Cameroon has decided to grant a further excep- tional one-year extension to the initial period of the exploration phase of the Thali PSC as requested by the company.
The company and Geoquip Marine AG have spent the last few weeks finalising preparations for the MV Investigator to conduct the site sur- vey on the NJOM-3 drilling area prior to com- mencement of drilling operations, in accordance with the contract announced on November 1, 2019. The MV Investigator is already in Came- roon, where it has been performing some rou- tine maintenance, and the vessel is expected to commence work on the survey shortly. When the survey report is complete, the company will discuss the survey results with the drilling
company COSL, with which it executed a letter of intent (LoI) announced on August 28, 2019, before finalising arrangements for the well itself.
Jeremy Asher, chairman and CEO, added: “We would like to thank His Excellency the President of the Republic, His Excellency Prime Minister Dr. Joseph Dion Ngute, His Excellency the Minister Gabriel Dodo Ndoke, together with their respective staffs, and of course the Société Nationale des Hydrocarbures (SNH), for their continued commitment to us and to the Thali project.”
Tower Resources, January 15 2020
SERVICES
LEKOIL selects Infor
and Progressive TSL
to support expansion
Infor, a global leader in business cloud software specialised by industry, today announced that oil and gas exploration and production com- pany LEKOIL has selected Infor SunSystems and Infor CloudSuite EAM to underpin future growth plans. Delivered and supported by Pro- gressive TSL, business solutions consultancy to the energy industry, Infor’s financials and asset management platform will facilitate proactive planning, tighter inventory and tailored reports by asset. The financials capabilities will allow faster month-end and integrated purchasing, while the secure cloud-based infrastructure will remove the need for costly hardware and addi- tional in-house IT staff, as well as accelerating deployment.
Founded in 2010, LEKOIL participates in four assets across Nigeria: the Otakikpo mar- ginal field (in OML11), the Ogo field in OPL310, the OPL 325 licence, situated 50km south of OPL
310, and a recently acquired interest in OPL 276. Against this backdrop, robust, scalable reporting and asset management capabilities were required to integrate and consolidate processes and sup- port expansion plans in the coming years.
LEKOIL selected Infor SunSystems and Infor CloudSuite EAM based on a strong track record of performance with similar-sized exploration and production companies in Nigeria. Progres- sive TSL was chosen for its in-depth experience of implementing finance and asset management systems in the region and for its on-the-ground support with face-to-face client communication. Progressive was able to deploy the Infor solutions on a tight three-month timescale through its flexible oil and gas implementation framework with a staggered rollout.
“Our relationship with Progressive TSL really is a testament to our partnership strategy, which is designed to deliver micro-vertical expertise with the ability to scale,” comments Frederic Russo, Infor’s vice president EAM international. “In an asset intensive sector such as oil and gas, best-in-class asset management capabilities such as those available with Infor EAM not only opti- mise operational performance through tighter management of the asset lifecycle but enhance production and profitability, helping companies expand market share.”
“Progressive TSL has delivered the imple- mentation of the finance and procurement sys- tem for LEKOIL in the promised timeframe,” says Lekan Akinyanmi, LEKOIL’s CEO. “Pro- gressive TSL is fully committed to LEKOIL, with its team being at our offices throughout every stage of the project. Due to their wide experi- ence in implementing similar solutions in West Africa, we felt we were in safe hands. We are impressed with the outcome and are confident the scalability of the finance and asset manage- ment systems will support LEKOIL as it contin- ues to grow.”
“It’s great to see LEKOIL going live with finance and procurement so quickly,” says Pro- gressive TSL CEO Chris Walcot. “This is a great foundation for the company and its ambitious plans for the future. We look forward to the next phase of the rollout.”
Infor, January 20 2020
INVESTMENT
Africa Oil closes
acquisition of producing
assets in deepwater Nigeria
Africa Oil Corp has announced the closing of the acquisition of a 50% ownership interest in Petro- bras Oil and Gas BV (POGBV).
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