Page 17 - AfrOil Week 19 2022

AfrOil NEWS IN BRIEF AfrOil

business new africa bna/IntelliNews

“We are excited by the long-term growth upside distribution of oil revenues among all regions. Nadel.
that these assets present and the scale that they Production has been suspended multiple times Algeria’s public and private fuel distribution
bring to the Sirius platform. We have developed a as workers’ wages have not been paid on time. stations amount to 2,700 units. The government
very strong working partnership with Somoil in In April, Libya exported only 819,000 bpd of said it has been working to increase the number
Angola and look forward to working together as crude, down from nearly 1mn bpd in the previ- of stations especially in the Southern region.
we progress to the completion of this acquisition ous month. In 2018, Total and state-owned Sonatrach
and to building a significant presence together NOC declared force majeure in April after agreed to start engineering studies for a propane
in Angola.” protests led to the closure of multiple sites – dehydrogenation and propylene complex in
Sirius Petroleum, May 4 2022 including Sharara, the country’s biggest oilfield, Arzew worth $1.4bn.
located in western Libya. The country’s National bna/IntelliNews, May 5 2022
Oil Corp. (NOC) reported on May 1 that it had
PERFORMANCE been able to recommence work at the Zueitina
export terminal. PROJECTS & COMPANIES
Algeria raises oil production that the closure of the country’s main oilfields SDX Energy discovers gas
Oil Minister Mohamed Oun said recently
by 11,000 bpd from June and ports was causing the country to lose more
than $60mn per day.
Algeria’s Energy and Mining Minister Mohamed The US embassy in Libya also warned that in SD-12_East well drilled
Arkab has said the country will raise its oil out- such closures risk an environmental disaster at Sobhi Field in Nile Delta
put by 11,000 barrels per day (bpd) starting in and could have an impact on the country’s abil-
June. The move will take Algeria’s crude daily ity to utilise this infrastructure in the future. It UK-based and MENA-focused oil and gas
production to 1.024mn barrels. reaffirmed its commitment to work with Lib- explorer, producer and developer SDX Energy
The minister’s statement comes following the yan leaders on an oil revenue mechanism that has announced a gas discovery at the SD-12_
28th OPEC and non-OPEC ministerial meet- ensures fair distribution to people in all regions. East well that targeted a separate compartment
ing that concluded an agreement to increase oil bna/IntelliNews, May 11 2022 in the Sobhi Field, within the Ibn Yunus North
output by an additional quota of 432,000 bpd development lease in the Nile Delta.
per day next month. There will be an expected Algeria to export petroleum SD-12_East, in which SDX has a working
review of the crude production during the next interest, spudded on 17 April and reached total
meeting on June 2. products on completion of mean depth of 7,295 feet (2,224 metres) on 26
Algeria’s crude exports to north-west Europe April, 2022. The primary basal Kafr El Sheikh
and the Mediterranean rose by 5% y/y to 304,000 Hassi Messaoud complex target was encountered at 6,567ft (2,002m) mean
bpd in March, amid rising European demand depth and discovered 70.2ft (21.4m) of net pay
on escalating energy prices due to the Rus- Algeria will shortly be able to export petroleum gas sand with an average porosity of 24.1%. A
sia-Ukraine war. products after the Hassi Messaoud main refin- secondary target gas sand in the upper Kafr El
The price of oil in the international market ery project comes into service, while another five Sheikh was also encountered at 4,838ft (1,475)
has escalated in recent weeks in response to the refineries that are under construction will help mean depth and discovered 9.1ft (2.8m) of net
war in Ukraine that significantly reduced supply to permanently eliminate the country’s export pay gas sand with 30.7% porosity. SD-12_East
and increased demand. problems, the head of Hydrocarbon Regulatory will now be completed, tested in the primary
bna/IntelliNews, May 6 2022 Authority (ARH), Rachid Nadel, told channel target area and tied in to the central processing
one in an interview. facility via the SD-12X flow-line and it is esti-
Nadel said the domestic gasoline, diesel and mated that the well will be in production in July
POLICY fuel consumption increased in the first quarter 2022.
this year to 1.2mn, 2.5mn and 350,000 tonnes In Egypt, SDX has a working interest in two
Libya to resume full crude respectively. producing assets: a 36.9% operated interest in
The domestic consumption covers demand the South Disouq and Ibn Yunus gas fields and a
export capacity once and the future surplus of oil derivatives output 67.0% operated interest in the Ibn Yunus North
will be directed to exports.
gas field in the Nile Delta and a 50% non-op-
fair income distribution the way for local and foreign investors to invest in which is located onshore in the Eastern Desert,
Algeria, through its subsidiary Naftal, opened erated interest in the West Gharib concession,
mechanism enforced the production of equipment. Some Italian and adjacent to the Gulf of Suez.
Polish companies showed interest, according to
bna/IntelliNews, May 9 2022
Libya’s Parliament Speaker Aqila Saleh said the
country will open all its oil loading terminals
after it sets up a new oil income distribution
mechanism to serve all regions of the country,
news portal Libya Update quoted Saleh as saying
to US ambassador and Special Envoy to Libya
Richard Norland.
Libya’s main oilfields and export terminals
have witnessed repeated closures as a result of
protests, political power struggles and other dis-
ruptions. Protests erupted also to demand a fair

Week 19 11•May•2022 www. NEWSBASE .com P17