Page 9 - AfrOil Week 45 2019

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These volumes have remained in containers at the Kasemene-1, Kasemene-2, Njiri and Warindi oilfields, and Ugandan authorities are willing to shoulder the cost of keeping them there, he said.
“We used to flare this oil, but because we are environmentally friendly, the government, together with the oil companies, decided not to flare anymore and instead started to store this crude oil and in turn sell it off and earn some monetary value from it,” he was quoted as saying by the Observer.
He stressed, though, that Uganda had not yet sold the oil. Officials in Kampala are still looking for a buyer interested in the waxy grade of crude coming from Lake Albert fields, he said..™
Flaring at the Kanamene-1 drilling site (Photo: Tullow Oil)
UPSTREAM
Africa Energy reports
on Q3-2019 financial
results, issues update on
operations in South Africa
Africa Energy, an oil and gas company with exploration assets offshore South Africa and Namibia, announces financial and operating results for the three and nine months ended September 30, 2019.
Garrett Soden, the company’s president and CEO, commented: “Following the Brul- padda discovery offshore South Africa, we are very encouraged by Total’s progress on Block 11B/12B. The partners are working hard to max- imize the value of the block. The first phase of 3D seismic was completed in the second quarter of 2019 to prepare for the multi-well drilling cam- paign in 2020. Additional 2D and 3D seismic surveys will start before the end of the year to better delineate the prospects and leads across the block. The next exploration well will target the Luiperd prospect and is expected to spud in the first quarter of 2020.”
In the first quarter of 2019, the Brulpadda well was drilled in approximately 1,400 metres of water by the Odfjell Deepsea Stavanger semi-submersible rig. The well targeted two objectives in a deep marine fan sandstone sys- tem within combined stratigraphic/structural closure. Following the success of the main objective, the well was deepened to a final depth of 3,633 metres and was successful in the Brul- padda-deep prospect. The well encountered a total of 57 metres net gas condensate pay over two Lower Cretaceous high-quality reservoirs. The well also encountered oil pay in the upper reservoir. Core samples were taken in the upper reservoir, and a comprehensive logging and sam- pling program was performed over both reser- voirs. The success at both the Brulpadda primary and deep targets significantly de-risks other sim- ilar prospects on Block 11B/12B.
NEWS IN BRIEF
In the second quarter of 2019, the joint ven- ture partnership for Block 11B/12B completed the first phase of the 3D seismic acquisition pro- gram with Polarcus Limited (“Polarcus”) using the Polarcus Asima vessel.
In the third quarter of 2019, the operator entered into a multi-well drilling contract with Odfjell Drilling for the Deepsea Stavanger semi-submersible rig, the same rig that drilled the Brulpadda discovery earlier this year.
Subsequent to the end of the third quarter, the operator contracted Shearwater GeoSer- vices Holding AS to acquire an initial program of 3,650 linear km of 2D seismic using the Mul- ti-Purpose Vessel SW Cook. The operator also contracted Petroleum Geo-Services (PGS) to acquire approximately 2,200 square km of 3D seismic using the PGS Apollo seismic vessel.
The company exited the third quarter with $2.4mn in cash. In addition, Main Street 1549, an entity owned 49% by Africa Energy, held $17.8mn (gross) in cash and $2.0mn (gross) in escrow at September 30, 2019 in order to cover Main Street 1549’s portion of future cash calls and exploration expenditures on Block 11B/12B. Africa Energy, November 08 2019
Aminex issues joint
statement with Solo Oil on
Ruvuma project in Tanzania
Aminex hereby issues a joint statement with Solo to clarify the situation regarding the firm and contingent budgets designed to fulfil remaining work commitments and to progress develop- ment of the Ntorya gas field (which sits within the Ruvuma PSA), which were approved by all partners at an operating committee meeting on September 24, 2019.
Both parties are encouraged by recent posi- tive movements within Tanzania in relation to the progression of licence activity and are keen to move matters forward for the benefit of all stakeholders. The joint venture partners have agreed the following 2020 work programme and budget, which remain subject to approval by the
relevant Tanzanian authorities.
The firm approved budget for 2020 is
US$1.447mn (gross), principally relating to licence maintenance and planning activity. The contingent budget for 2020, which would be subject to confirmation by the joint venture partners in accordance with the Ruvuma joint operating agreement prior to being committed, is US$41.425mn (gross) and relates primarily to the drilling of Chikumbi-1 and the acquisition of extensive 3D and 2D seismic surveys.
These budget elements are contingent, inter alia, on the Mtwara licence extension for the drilling of the Chikumbi-1 well and the granting of the Ntorya development licence for the seis- mic programmes. Both parties are keen to expe- dite progress on the licence and will consider committing to accelerating certain preparatory works in a pro-active manner at the appropriate time.
Aminex, November 11 2019
Genel Energy reports on
progress of Somaliland
farm-out process
Genel Energy is pleased to announce that it has increased its stake in the SL10B13 block, onshore Somaliland, to 100%, having acquired East Africa Resource Group’s 25% stake. As previ- ously announced, a farm-out process relating to the block is now underway, with Stellar Energy Advisors appointed to run the process.
Interpretation of the 2018 2D seismic data together with basin analysis has identified mul- tiple stacked prospects, with each of them esti- mated to have resources of about 200mn barrels. A further program of surface oil seep sampling and analysis reiterates the presence of a working petroleum system on the block.
A presentation on the Somaliland opportu- nity, given last week at the Africa Oil Week con- ference in Cape Town, is now available on the Genel website.
Genel Energy, November 11 2019
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