Page 17 - AfrOil Week 10 2023

AfrOil NEWS IN BRIEF AfrOil

business new africa bna/IntelliNews

In 2010, P&ID agreed to a deal that would see the port of Mombasa which is expected to double laws of the Cayman Islands with corporate head-
government transfer gas for 20 years to a facility the country’s cooking gas storage capacity. quarters in Dubai, United Arab Emirates. The
built by P&ID. The company would refine the bna/IntelliNews, 03 March 2023 company is listed on the Oslo Stock Exchange
gas for free, and sell the by-products on the inter- under the ticker “SHLF”.
national market to make a profit. Neither side Shelf Drilling, 09 March 2023
moved forward with the agreement. As a result, PROJECTS & COMPANIES
a tribunal in London awarded P&ID $6.6bn in Decklar Resources
compensation. Nigeria refused to comply, and Saipem wins $400mn
the award has now ballooned to $11bn due to signs two new Nigeria
interest. drilling contract offshore
At the High Court, Nigeria is containing to crude oil sale and
challenge the award, claiming that P&ID pro- Ivory Coast
cured the original deal through fraud and brib- purchase agreements
ery. The government has also accused P&ID of Saipem, the Italian oilfield services company, has
suppressing vital evidence. won a $400mn contract to perform drilling off- Decklar Resources, a Canada-based oil and min-
Nigeria’s lawyer, Mark Howard, told the shore the Ivory Coast. erals exploration and development company,
court that P&ID founders, Michael Quinn and The contract was awarded by a joint venture has signed two new crude oil sale and purchase
Brendan Cahill, had a “track record of bribery” owned by Eni Côte d’Ivoire and the state-owned agreements in Nigeria.
and were involved in corruption on an “indus- Petroci, which is currently active in several The first deal will see the company deliver
trial scale.” exploration blocks off the Ivorian coast. 150,000 barrels of crude oil to Edo Refinery and
In particular, Howard stated that P&ID According to Saipem’s statement, the award Petrochemicals Co. Ltd (ERPC) in Edo State.
paid off Nigerian government officials, includ- of the contract represents a significant consol- The second is an agreement with Duport Mid-
ing a minister of petroleum resources. Howard idation of the company’s presence in the Ivory stream Co. Ltd to deliver an initial 5,000 barrels
claimed that the firm had real-time access to Coast, a strategic area where it is currently exe- to the Duport refinery, followed by a minimum
Nigeria’s “privileged materials,” many of which cuting the project for the development of the oil of 2,500 barrels per month thereafter.
were obtained through “back-channels.” and gas field Baleine. The company’s Nigerian subsidiary Deck-
bna/IntelliNews, 06 March 2023 For the new contract, Saipem has chartered lar Petroleum Ltd (DPL) is owned 11% by San
the Deep Value Driller vessel, a modern drillship, Leon, the huge European oil and gas company.
Kenyan government to for $160mn for a period of approximately three San Leon has made DPL a $5.5mn loan, issued
years. The Norwegian vessel is among the most through 10% per annum unsecured subordi-
reduce cost of cooking capable 7th-generation drillship in the world. nated loan notes.
Saipem, based in Milan, is one of the larg-
In a press release, Decklar also reported that
gas by up to 400% to est oilfield services companies in the world. the trucking of crude oil from the Oza Field to
Until 2016 it was a subsidiary of Eni. Eni retains the ERPC refinery has continued, with another
ease the cost of living around 30% of Saipem’s shares. delivery of 5,000 barrels completed, making a
total of approximately 17,000 barrels delivered
bna/IntelliNews, 03 March 2023
Kenya’s President William Ruto announced on under the current 30,000 barrels crude sale
Thursday (March 2) that the price of cooking gas Shelf Drilling awarded agreement.
will be cut by up to 400% when the budget for bna/IntelliNews, 03 March 2023
2023/2024 is read in June, as part of government two-year contract for
efforts to ease the cost of living. PGS awarded 3D contract
The announcement signal that the budget Shelf Drilling Scepter
may lead to zero-rating of cooking gas and gas offshore Namibia
cylinders in readiness to ensure the president offshore Nigeria
meets his pledge of ensuring each household in PGS has signed a 3D exploration acquisition
Kenya uses LPG for cooking rather than wood, Shelf Drilling has secured a two-year contract for contract for work offshore Namibia. Ramform
charcoal and other more polluting fuels. the Shelf Drilling Scepter for operations offshore Titan is mobilising for the survey and acquisition
“I have stated that from June we will put Nigeria. The contract value for the firm period, is expected to complete in late May 2023.
plans in place to ensure that women use clean including mobilisation revenue, is approxi- “We are very pleased with this contract
energy. The first thing that we will do is remove mately $118mn. The contract also includes a award, as it follows nicely after the previous pro-
the gas tax. That 8% the government takes will one-year option, and the planned start-up of ject and secures visibility for the vessel into the
be removed to allow more Kenyans to have gas,” operations is May 2023. 2023 summer season,” says President & CEO in
Ruto said. About Shelf Drilling: Shelf Drilling is a lead- PGS, Rune Olav Pedersen.
Speaking at the re-launch of the Women ing international shallow water offshore drilling PGS announces contract awards and Multi-
Enterprise Fund, a semi-autonomous gov- contractor with rig operations across Middle Client projects as stock exchange releases if the
ernment agency that provides accessible and East, Southeast Asia, India, West Africa, Medi- contract has a value of $10mn or more, and Mul-
affordable credit, he also pledged that more terranean and North Sea. tiClient projects with a duration of 2 months or
resources will be allocated to ensure that the Shelf Drilling was founded in 2012 and has more.
promised prices are achieved. established itself as a leader within its industry The contract was included in the order book
Kenya recently licensed Taifa Gas of Tanzania through its fit-for-purpose strategy and close and booked positions disclosed in the Q4 2022
to build a 30,000-tonne LPG facility at the Spe- working relationship with industry leading cli- earnings presentation and CMD material.
cial Economic Zone in Dongo Kundu, near the ents. The company is incorporated under the PGS, 03 March 2023

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