Page 13 - AfrOil Week 49 2019

AfrOil
NEWS IN BRIEF
AfrOil
Knut Sovold, Chief Operating Officer of Petro- Nor and incoming Technical Manager for Aje Petroleum, said: “The fundamentals of the Aje field are very encouraging. As part of our due diligence for the transaction, our technical team has looked closely at various development plans to fully monetize the Aje field. We are looking forward to working closely with our partners on the licence to review and approve these plans.”
Eyas Alhomouz, Chairman of Petronor and incoming board member of Aje Petroleum, said: “We are very happy working with YFP and their advisor Redcliff Energy Advisors in the joint effort to finalise this agreement. We look forward to aligning with rest of the licence partners and the government of Nigeria for the future devel- opment of the Aje field.”
PetroNor, December 05 2019
SERVICES
Morocco’s Predator Oil
& Gas Holdings executes
Guercif rig option
Predator Oil & Gas Holdings has provided an update on its drilling plans for the Guercif Per- mits I, II, III and IV onshore Morocco. Predator (75%) operates Guercif in joint venture with the Office National des Hydrocarbures et des Mines (ONHYM) acting on behalf of the State (25%).
Predator Gas Ventures (PGVL), a wholly owned subsidiary of the Company, has entered into a rig option agreement with Star Valley Drilling, a Canadian drilling company currently undertaking an extensive drilling programme for SDX Energy in the Rharb Basin west of the Guercif using its Rig No. 101.
The option is valid to January 31, 2020, unless otherwise mutually agreed by the parties, to allow for negotiation and execution of a legally binding rig contract. The rig option agreement provides for a rig mobilisation date within a window commencing March 15, 2020, and end- ing April 30, 2020, unless otherwise agreed by mutual consent of the parties.
The initial drilling programme shall comprise the drilling of the Moulouya-1 prospect, subject to all regulatory consents and approvals, to a depth of 2,000 metres. The drilling rig mobilisa- tion and drilling operations are expected to take up to 30 days.
Completion of the first well will release $1mn of PGVL’s $1.5mn bank guarantee with ONHYM, subject to final delivery of all the data from the well to ONHYM.
At PGVL’s sole option, and subject to ONHYM approval and all regulatory consents being received, PGVL shall have the option to
extend the drilling programme by the drill- ing of either an appraisal well, if required, or a follow-up exploration well to a depth of 2,000 metres to capitalise on significantly reduced mobilisation and well services costs attributable to having an active rig available for immediate use.
A further update in 2020 will be given on the progress of the finalising of the commercial terms for the rig contract which will include PGVL’s contribution to mobilisation and demo- bilisation costs.
Paul Griffiths, CEO of Predator Oil & Gas Holdings said: “This is another significant step in the company’s strategy to develop shallow gas in Morocco adjacent to infrastructure as a greener contribution to reducing Morocco’s car- bon footprint. Morocco is re-entering an excit- ing period of sustained drilling activity for gas, with a 12-well drilling programme having com- menced in the Rharb Basin to the west and other potential wells being considered to the south of us, where several companies are hoping to eval- uate Triassic Tagi gas potential . The Company’s gas prospects are located at the central core of this activity and the Guercif licence area offers us attractive running room with multiple prospects and leads to test all the gas plays currently being evaluated for drilling around us.’
Predator Oil & Gas Holdings, December 09 2019
Ocean Infinity
to acquire seismic data
for Total over Blocks 32
and 17 offshore Angola
Ocean Infinity, the next generation sub-sea tech- nology and data company, has been awarded a contract by Total E&P Angola, one of the main
branches of Total, a major energy player world- wide. During the project, Ocean Infinity will be deploying their state-of-the-art technology to conduct 2D ultra high-resolution seismic sur- veys and seabed soil sampling in Block 32 and Block 17.
Ocean Infinity’s recent expansion to their fleet of autonomous underwater vehicles and further advancements in pioneering battery technology, ensures that high-quality data is gathered for the client in the safest, most efficient and innovative technology driven way.
Paul Helmore, Ocean Infinity’s CCO, said: “We are delighted to be supporting Total E&P in Angola with this project and that our ability to provide answers for the offshore energy sec- tor continues to be recognised. Being awarded this project further confirms that our innova- tive technology driven approach is continuing to meet the growing demand for a higher value and lower impact method to acquire ocean data. We are excited to be working with Total on this project to gather data in the most innovative way theindustryhasseen.”
Ocean Infinity, December 10 2019
INVESTMENT
Energy Chamber: Ghana and Nigeria top list of markets to watch for key project developments
In its African Energy Outlook 2020 report launched last month, the African Energy Cham- ber highlighted the importance of increased infrastructure capacity in Africa’s long-term industrial development.
Week 49 11•December•2019
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