Page 14 - AfrOil Week 19 2022

AfrOil PROJECTS & COMPANIES AfrOil

Dangote Refinery will

produce Euro-5 gasoline

NIGERIA THE Dangote Refinery, a facility under con- When complete, the refinery will be the larg-
struction in the Lekki Free Zone near Lagos, est single-train refinery in the world and will
Nigeria, will be able to produce gasoline that create a market for Nigerian crude worth $11bn
meets Euro-5 specifications, The Nation per year. Construction began in 2016 and has
reported on Monday (May 9). seen numerous delays. It is now slated to come
The decision to make the plant compliant on stream in late 2022.
with Euro-5 standards will put Nigeria in a posi- Adjacent to the refinery will be a 400-MW
tion to export fuel to countries with strict envi- thermal power plant (TPP) that will be able
ronmental regulations. Euro-5 specifications are to provide enough electricity to meet all the
designed to help reduce emissions through such requirements of Ibadan DisCo, the largest
means as capping sulphur content in gasoline at power distribution company in Nigeria.
10 ppm. Dangote Group is also building the second
When finished, the plant will have a through- phase of a major fertiliser plant near the refin-
put capacity of 650,000 barrels per day (bpd) ery. The facility will eventually be the largest in
making it Africa’s biggest oil refinery. It will be Africa. ™
capable of meeting of 100% of Nigerian demand
for refined fuels and will also produce petroleum
products for export. As things stand, the West
African country exports crude oil, but must
import refined fuels due to a lack of facilities
and capacity.
The refinery is owned by Aliko Dangote,
Africa’s wealthiest man, as part of his Dangote
Group, a conglomerate that also runs companies
in the food, energy and transportation sectors,
amongst others. The group also owns Africa’s
largest sugar refinery, alongside many other
plants and factories. Dangote Refinery construction site near Lagos (Image: Dangote Group)

Panoro says Equatorial Guinea has

extended Block G PSC until 2040

EQUATORIAL GUINEA NORWAY’S Panoro Energy reported on Mon- Reserves are expected to start rising after the
day (May 9) that Equatorial Guinea’s Ministry of second half of 2023, when the Block G joint ven-
Mines and Hydrocarbons had agreed to extend ture is due to launch its next phase of investment.
the term of the Block G production-sharing This phase of operations will involve further
contract (PSC), which covers the Ceiba and development drilling with the aim of boosting
Okume Complex fields, until the end of 2040. production levels, Panoro said. “Further infor-
In a statement, Panoro noted that the PSC mation on these wells will be communicated in
had previously given the members of the Block due course as planning is refined,” it added.
G joint venture until 2029 to develop Ceiba and The Okume complex contains five of the six
until 2034 to develop Okume Complex. Now, oilfields lying within Block G. According to pre-
though, the Norwegian company and its fellow vious reports, these fields – Akom North, Ebano,
investors will have more time to develop the Elon, Okume and Oveng – saw production lev-
fields. els average 29,100 barrels per day (bpd) in the
As a result, the statement said, Panoro is second quarter of 2021. They were discovered
likely to see a 2-3mn barrel increase in its net 2P in 2001-2002 and are linked via tie-backs to a
(proved and probable) reserves. central processing facility (CPF) at Elon.

P14 www. NEWSBASE .com Week 19 11•May•2022