Page 20 - AfrOil Week 03 2021

AfrOil NEWS IN BRIEF AfrOil

“We are delighted ANPG awarded us this con- currently stand at 15 months totaling approxi- quarter on quarter as development, appraisal
siderable project. We competed against glob- mately $1.3mn net to Wentworth. and exploration operations continue.
ally recognised consulting businesses and to be Sustainable growth: Sustainable and respon- United COO Jonathan Leather commented:
selected is a testament to the value our products sible growth in Tanzania that protects long-term “The Abu Sennan asset continues to perform
and services bring to our clients.” shareholder returns remains a priority for the strongly. With the ASH gas pipeline coming
Belltree, January 19 2021 business. 2020 was a very active period for the onstream at the end of the year, 2021 has already
Company with a number of discussions initi- seen a boost to production, with about 220
ated to support our growth ambitions and these boepd of additional gas now being captured on a
PERFORMANCE remain on-going with key stakeholders in Tanza- net basis. United are looking forward to further
nia. Our commitment to further growth in Tan- potential production additions from Abu Sen-
Wentworth Resources zania is underpinned by our long track record nan in 2021, with a number of activities planned.
in-country and the increasing requirement for a Drilling at ASH-3, the first of a multi-well pro-
issues operational update, reliable, affordable and low-carbon energy sup- gramme, is currently underway, with results
ply. Wentworth’s robust gas-to-power produc-
from this well due in Q1.”
2021 production guidance tion platform is well-positioned to service this United Oil & Gas, January 13 2021
future demand growth, working hand-in-hand
Wentworth Resources, the independent, Tanza- with low carbon technologies, such as hydro-
nia-focused natural gas production company, is power. During 2020, the Company undertook a EVENTS
pleased to announce the following operational strategic review of its ESG priorities and report-
update and provide production guidance for ing and looks forward to publishing its inaugural Senegal hosts major
2021. Sustainability Report this year.
Operational: The health and safety of our Sustainable dividend policy: Since the com- energy transition event
employees remains a top priority and robust pre- mencement of Wentworth’s dividend policy
cautionary measures remain in place to ensure in September 2019, the Company has made Africa Oil & Power is proud to announce that,
the continued safety of our staff; to date, there distributions totalling $4.2mn to shareholders. under the auspices of President Macky Sall and
have been zero reported cases of COVID-19 at The Company will declare its final dividend for in partnership with the Ministry of Petroleum
Mnazi Bay. Mnazi Bay continues to remain fully year ended 2020 along with the Company’s Final and Energy, COS Petrogaz, Petrosen and vari-
operational with no material adverse impact on Results expected in April 2021. ous US and Canadian energy industry associa-
supply from the pandemic.2020 full year pro- Wentworth Resources, January 14 2021 tions, it will organise the first MSGBC Oil, Gas
duction averaged 65.36 mcf (1.851 mn cubic & Power 2021 conference and exhibition. The
metres) per day (gross), within the annual pro- United Oil & Gas provides event covers the entire region from Mauritania
duction guidance range of 60-70 mcf (1.7-1.98 to Guinea, and also invites other important play-
mcm) per day (gross). Repairs to the MB-2 quarterly production update ers in the region such as Algeria, Morocco and
flowline were completed on December 9, 2020, Côte d’Ivoire to hold talks with investor delega-
increasing the capacity of the field to over 100 United Oil & Gas, the full-cycle multinational oil tions from the United States, Australia, Europe,
mcf (2.8 mcm) per day. December 2020 pro- and gas company, has provided a quarterly pro- Asia and the Middle East.
duction averaged 82.93 mcf (2.348 mcm) per duction update for the period to the end of 2020. MSGBC Oil, Gas & Power 2021 will be held
day (gross), with five days reaching 103 mcf United’s H2-2020 net working interest pro- on October26-27, 2021, in Dakar and will be
(2.917 mcm) per day (gross), and a record high duction averaged 2,340 boepd in line with guid- the elite energy gathering for one of Africa’s
of 103.36 mcf (2.927 mcm) per day achieved on ance for the period of 2,300 boepd. Q4-2020 most compelling energy investment destina-
December 15, 2020; demonstrating both the net working interest production averaged 2,243 tions. The US-Africa Committee of the African
capabilities of the field and the potential for nat- boepd (1,960 bpd oil and 283 boepd gas). With Energy Chamber has provided its full support
ural gas demand to dramatically increase during the ASH gas pipeline coming onstream on and endorsement. “Senegal and the region have
the hot, dry season. Production guidance for full December 27, United exited 2020 with net work- historically welcomed US investment. This is
year 2021 has been set at 65-75 mcf (1.841-2.124 ing interest production of 2,389 boepd. now more important than ever. Looking ahead,
mcm) per day (gross) All of United’s production for the period was American firms have a critical role in financing
Financial: Interim dividend of $1.2mn paid in from the Kuwait Energy Egypt (KEE)-operated and providing technology to drive gas devel-
October 2020, an increase of 20% from the Com- Abu Sennan Licence, Egypt, in which United opments and the energy transition,” said Jude
pany’s maiden interim distribution of $1.0mn in holds a 22% working interest. This data will vary Kearney, former Deputy Assistant Secretary for
2019. Total dividend distributions paid to share- Service Industries and Finance at the US Depart-
holders during the 2020 calendar year increased ment of Commerce and currently President of
to $3.2mn. Debt free with $17.8mn cash on Kearney Africa Advisors.
hand at December 31, 2020 (unaudited). The Senegal has succeeded in fast-tracking its
JV Partners have agreed a 2021 firm work pro- oil and gas developments, despite uncertainty
gramme totalling approximately $4.4mn net caused by COVID-19, and has attracted invest-
to Wentworth. Strengthening of working part- ment in wind and solar, establishing itself as
nership with Tanzania Petroleum Development West Africa’s leader in the energy transition. The
Corp. (TPDC), which continues to settle all gas government of Senegal is keen to expand this
sales invoices in full as they fall due and remains narrative to encompass neighboring countries,
fully current with payments Discussions with with the goal of generating cross-border business
Tanzania Electric Supply Co. (TANESCO) are and collaboration, and improving quality of life
on-going to settle all remaining arrears, which for potentially hundreds of millions of people.

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