Page 15 - AfrOil Week 19 2022

AfrOil PROJECTS & COMPANIES AfrOil

The study will cover a 24,000-square km section of Sierra Leone’s offshore zone (Image: Wildcat Petroleum)
The sixth field within Block G, known as Ceiba, the Ceiba and Okume fields,” he said. “On behalf
began production in 2000. It is being developed of Panoro, I would like to thank the ministry and
with a floating production, storage and off-load- our joint venture partners on the collaborative
ing (FPSO) unit that supports more than two effort in delivering this important agreement.
dozen wells, including 16 active development The extension substantially increases Panoro’s
wells and 10 water-injection wells. The FPSO net 2P reserves in Block G and creates the time
also receives oil from the Okume complex via in which to unlock the material resources we
a 25-km pipeline. believe to be present. We look forward to work-
The Norwegian company did not say exactly ing with the ministry and our joint venture part-
how much Ceiba and Okume Complex were ners to responsibly invest and further develop
currently yielding. It did say, though, that its Block G to realise the full oil and gas potential of
full-year share of output in 2021, in line with the block over the next 18 years.”
its working interest of 14.25% in Block G, had Panoro is a newcomer to the Block G pro-
averaged 4,261 barrels per day (bpd). These vol- ject. It acquired its 14.25% stake in the licence
umes amounted to around 56% of Panoro’s total area last year, within the framework of a deal to
production last year, it commented. acquire assets in Equatorial Guinea and Gabon
John Hamilton, the CEO of Panoro, said he from Tullow Oil (UK/Ireland). Meanwhile,
expected to extension of the Block 9 to benefit the remaining 85.75% of equity in the block is
his company and the other investors in Block G. divided between Trident Energy (UK, opera-
“Upon entering the Block G joint venture, we tor), with 40.375%; Kosmos Energy (US), with
had always identified an upside in extending the 40.375%; and GEPetrol, the national oil com-
PSC expiry dates to realise the full potential in pany (NOC) of Equatorial Guinea, 5%. ™

Wintershall Dea to acquire Edison’s

stake in Algeria’s Reggane gas facility

ALGERIA THE German firm Wintershall Dea plans to state-owned oil concern Sonatrach (40%), Win-
acquire Edison’s 11.25% participating interest tershall Dea (30.75%) and Repsol (29.25%).
in Algeria’s Reggane Nord natural gas project. Algeria is the largest LNG producer in Africa
Wintershall, present in Algeria since 2002, and is the third-largest exporter of gas to Europe,
has a current stake of 19.5% interest in the pro- after Russia and Norway, through two subsea
ject comprising six gas fields over a 695-square gas pipelines and LNG facilities at two locations.
mile (1,800-square km) area in the North Afri- Recently, Wintershall Dea and Sonatrach
can country’s south-west region. extended an earlier agreement to consider new
If the deal is approved by Algerian authori- business opportunities in gas production and
ties, project stakeholders will comprise Algeria’s low-carbon energy solutions. ™

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