Page 8 - AfrOil Week 25 2021

AfrOil PIPELINES & TRANSPORT AfrOil

Once the pipeline link is operational, it will be storage capacity of 125,470 cubic metres. It was
able to deliver gas to the Karadeniz Powership built for the Turkish-Japanese joint venture by
Ayşegül Sultan, which has been using heavy Sembcorp Marine (Singapore) under a contract
fuel oil to generate electricity. Subsequently, it is that provides for the construction of three such
due to take delivery of its first shipment of LNG vessels.
from an affiliate of Royal Dutch Shell (UK/Neth- Sembcorp has already started work on the
erlands) in July. second FSRU, which will eventually be deployed
The FSRU is 272 metres long and has a offshore Mozambique. ™

INVESTMENT
Angola to sell off part of its

stakes in eight offshore blocks

ANGOLA ANGOLA’S national oil company (NOC) reporting that seven development wells were
Sonangol is reducing its holdings in eight already in operation at the site, which is in the
offshore blocks in order to optimise its asset Congo Maritime basin. This block, which came
portfolio. online in 2009, has reserves of 143mn barrels.
Sonangol launched the sale last week, saying The other six blocks included in the sale have
it was ready to sell up to 8.28% of Block 18, 10% yet to be developed, but some of them have been
of Block 15/06, 15-20% of Blocks 3/05 and 4/05, explored to some extent, it said. The companies
30-65% of Block 5/06 and 30-70% of Blocks 23, that buy stakes in these licence areas will be able
27 and 31. All eight of these blocks are located in to take advantage of the work that has already
Angola’s offshore zone, in depths ranging from been done, it remarked.
shallow-water to ultra-deepwater. Sonangol will be accepting offers for the eight
The NOC has touted the attractiveness of blocks involved in the sale until August 6. It has
these licence areas, noting that two of them were said that it intends to help the top bidders gain
already in production. quick entry into Angola’s domestic market with-
It identified one of these as Block 3/05, a out the necessary of first participating in a public
site in the Congo basin, noting that the site was tender or in direct negotiations.
already producing oil from 11 production and The NOC is unloading part of its holdings in
processing platforms installed at the Búfalo, these eight blocks in order to reassess its invest-
Cobo, Combo, Impala-Southeste, Pacassa, ment portfolio and to uphold the government’s
Palanca and Pambi fields. These fields have exploration and development strategy. It hopes
already yielded some 1.387bn barrels of oil, and to use the proceeds of the sales to cover the
the block’s reserves stand at 121.48mn barrels, remaining share of its investment commitments
it said. at those sites and to cover its expenses on other
The company then pointed to Block 4/05, projects. ™

Sonangol will reduce its stake in Block 3/05 (Image: Maurel & Prom)

P8 www. NEWSBASE .com Week 25 23•June•2021