Page 10 - AfrOil Week 25 2021

AfrOil PERFORMANCE AfrOil

Mnazi Bay is connected to Dar es Salaam by pipeline (Image: Wentworth Resources)
“Building on from the successes of last year natural gas power generation, demonstrating
despite the challenging macroeconomic envi- our critical role in facilitating sustainable energy
ronment, the first half of 2021 has demonstrated growth in the country today and going forward.”
the ongoing resilience and the strength of the Equity in the Mnazi Bay joint venture is
fundamentals of our business,” she commented. divided between Maurel & Prom (France),
“We are delighted to be revising our 2021 pro- the operator, with 48.06%; Wentworth, with
duction guidance upwards following higher 31.94%; and state-owned Tanzania Petroleum
than expected demand in the first half of this Development Corp. (TPDC), with 20%. The
year ... This increased demand is in part due to a partners use the National Natural Gas Infra-
recovery in industrial demand from the impacts structure (NNGI) pipeline, the largest gas
of COVID-19 and in part due to lower rainfall transport link in East Africa, to transport their
in the catchment areas of the [country’s] hydroe- production northward to Tanzania’s largest city,
lectric dams. Our gas provides 50% of Tanzanian Dar es Salaam. ™

PROJECTS & COMPANIES
Eni, Lukoil, EGPC consolidate Meleiha

concessions in Egypt’s Western Desert

EGYPT ITALY’S Eni signed an agreement with the gov- gas reserves, strengthening Eni’s role as the larg-
ernment of Egypt, Egyptian General Petroleum est gas producer in Egypt.
Corp. (EGPC) and Russia’s Lukoil for the merger The concession will be operated by Agiba,
of the concessions of Meleiha and Meleiha Deep, the JV between EGPC (50%) and Eni (50%),
in Egypt’s Western Desert. through its subsidiary IEOC that owns a 76%
UNDER the agreement, the expiration date of interest in the concession, while Lukoil holds a
the concessions will be pushed back to 2036 and 24% interest.
possibly further to 2041. Eni has been present in Egypt since 1954 and
The deal, which represents another achieve- is the country’s main producer. The Italian com-
ment for Eni in the prolific basin of the Egyptian pany’s current equity hydrocarbon production
Western Desert, will unlock, through enhanced is around 320,000 barrels of oil equivalent per
contractual terms, the area’s considerable day (boepd). ™
resources, thanks to a high-resolution 3D seis-
mic acquisition and an intensive exploration
and development drilling campaign.
Moreover, the construction of a new gas
treatment plant, which will be connected to the
Western Desert Gas Complex in Alexandria,
will allow the further exploitation of the region’s

P10 www. NEWSBASE .com Week 25 23•June•2021