Page 16 - AfrOil Week 06 2020

AfrOil
NEWS IN BRIEF
AfrOil
UPTIME awarded contract
for BP’s Greater Tortue
Ahmeyim LNG Hub Terminal
UPTIME International is honored to be awarded a contract from Eiffage Génie Civil Marine for supply of access solutions for the LNG Hub Marine Terminal for BP’s Greater Tortue Ahmeyim LNG Project offshore Mauritania and Senegal.
UPTIME’s scope of work includes engi- neering, design and supply of access solutions between the LNG Hub Terminal and the FLNG vessel and consists of two large motion compen- sated gangways, pedestals and stair-towers. The solution will build on UPTIME’s 40 years’ expe- rience with offshore motion compensated access solutions. The project will commence immedi- ately with a project duration of approximately 12 months.
Åge Højmark, CEO of UPTIME Interna- tional AS, says: “We are very pleased to have been trusted with this contract from Eiffage Génie Civil Marine. With this contract, we have a solid order book and base workload for 2020 which provides a strong foundation for further growth.
“UPTIME have traditionally had a strong position in offshore motion compensated access solutions and this contract marks that we remain the global leader in the Oil & Gas segment even though the Offshore Wind segment has become an increasingly important part of our business in recent years. It has been a team effort to win this contract and the entire team is now excited and focused on delivering the project successfully.” UPTIME International, February 04 2020
Fugro wins Aker Energy contract for geotechnical, geophysical surveys of Ghana’s Pecan field
Aker Energy has awarded Fugro a contract for geotechnical and geophysical survey services in relation to the Pecan field, offshore Ghana.
The surveys will obtain critical seabed and sub-seabed information to facilitate the planning and emplacement of the Pecan subsea infra- structure and the floating, production, storage and offloading (FPSO) ship. “This project will build on the extensive experience that our ves- sels and staff have gained in Ghana and the wider West Africa region, and we look forward to using this knowledge to execute a safe and successful campaign,” said Jaco Stemmet, Fugro’s Director for Africa.
The contract includes surveys performed from two state-of-the-art vessels for a 10-week period starting in March, and subsequent lab- oratory testing. Geophysical survey data will be acquired using the Fugro Searcher and one of Fugro’s fleet of deepwater AUVs, Echo Surveyor VI; the geotechnical vessel Fugro Scout, specif- ically designed for geotechnical operations in water depths of up to 3000 m, will then follow to provide drilling, and seabed sampling and in situ testing.
“For Aker Energy, this contract is an impor- tant next step as we prepare for the ramp up of the Pecan project,” said Olav Henriksen, Senior Vice President for Projects at Aker Energy. “We are eager and excited to get started and Fugro’s services are world class, making them a natural choice to partner with.”
As part of the contract, an emphasis has been placed on local involvement via Fugro’s Ghana- ian office. The shore base for the two ships will be Takoradi, in the west of the country, materials will be locally sourced where possible, and the Fugro team will comprise at least one trainee surveyor and one experienced surveyor from Ghana. In addition, a series of educational and capacity-building activities will be rolled out through partnerships with Ghanaian educa- tional institutions and the Petroleum Commis- sion of Ghana.
Fugro, February 10 2020
INVESTMENT
Azinam completes
farm-out of interest
in block offshore South
Africa to Africa Oil
Azinam, the Seacrest Capital-backed Southern Africa-focused oil & gas exploration company, is pleased to announce that the Government of South Africa have approved the 3B4B farm-in announced on July 3, 2019. Under the terms of the transaction, Africa Oil has acquired a 20% participating interest in Block 3B/4B Orange Basin, offshore South Africa and will become the Operator of the licence on behalf of the joint venture partners.
Azinam has retained a 20% participating interest post completion. Licence partners Rico- cure’s participating interest remains unchanged at 60%.
Block 3B/4B is located in the Deep Western Mid-Orange Basin South Africa, extending from 120-250 kilometres offshore. The block covers an area of 17,581 square km and lies in water depths ranging from 300 to 2,500 metres. Block 3B/4B
sits at the centre of an exciting emerging oil & gas area, which is being explored by a number of international Oil & Gas companies, including Azinam and Africa Oil Corp.
Azinam has also completed the farm-in to Inshore Block 3B/4B. Under the terms of the transaction, Ricocure retains 49% participating interest, while Azinam assumes 51% participat- ing interest and assumes the role of Operator for the Inshore Block 3B/4B joint venture.
Daniel McKeown, Managing Director of Azi- nam,commented:“Azinamisdelightedtocom- plete this transaction with Africa Oil Corp. and welcomes them to the Block 3B/4B partnership and as a direct licence holder in South Africa.” Azinam, February 06 2020
Impact Oil & Gas announces capital raising of $40mn
Impact Oil & Gas, the privately-owned, Afri- can-focused exploration company, has secured funds, with gross proceeds of approximately $40mn, by way of an underwritten Open Offer through the issue of Ordinary Shares at an issue price of GBP0.2 per Ordinary Share.
Deepkloof Limited, Africa Oil (AOC) and CAZ Investments, who are existing shareholders in the Company, have agreed pursuant to a sub- scription and underwriting agreement entered into with the Company dated 19 December 2019 to commit to their pro-rata share of the Open Offer at the Issue Price.
In addition, Deepkloof and CAZ have further agreed to underwrite the Open Offer and take up such number of additional shares as necessary to ensure that the aggregate amount raised in the Open Offer equals $40mn. Such underwriting element and additional shares will be issued at an underwriting issue price of GBP0.18 per Ordi- nary Share.
Impact expects to use the net proceeds to fund its activities in 2020 which include: capital expenditure in Namibia; the funding of Arostyle Investment’s share of costs and general corporate overhead, including in-house geological and geophysical costs.
Siraj Ahmed, CEO of Impact Oil & Gas, said: “I am thrilled that we are now entering what we hope is a game-changing year, as the drilling of Venus-1 in Namibia and further exploration and appraisal following the Brulpadda-1 discovery on Block 11B/12B in South Africa represent the culmination of all the hard work and investment over the last few years. This financing injection strengthens the balance sheet and enables us to get to this point; thanks to the continued sup- port of our valued shareholders. I am particu- larly grateful for the surety of funding provided by the Underwriting Shareholders.”
Impact Oil & Gas, February 07 2020
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Week 06 12•February•2020