Page 12 - AfrOil Week 39 2022

AfrOil POLICY AfrOil

Mele Kyari (L) and Manish Grover (R), the heads of NNPC and IOC, met Sept. 29 (Photo: Twitter/@nnpclimited)

He continued: “NNPC Ltd is an energy com- hopes to convert 30mn households to the use of
pany with new investments in gas, power, and LPG by year 2027.
renewables. Key pipeline projects such as ELPS “Following the implementation of govern-
I1, OE5 and AKK to deliver a total of 6.2bn cubic ment’s gas expansion initiatives and the presi-
feet of gas per day to demand nodes across the dential assent to the PIA, investors stand in good
country are at various stages of completion.” stead to benefit from the vast opportunities
At the same event, special adviser to the available for unlocking Nigeria’s abundant gas
President on Economic Matters Adeyemi Dipe- resources for shared prosperity,” Dipeolu com-
olu noted that the Nigerian federal government mented. ™

PROJECTS & COMPANIES
TotalEnergies CEO’s remarks drum up

interest in Namibia’s offshore potential

NAMIBIA EXCITEMENT about the potential of Namibia’s licence area lies in waters that are around 3,000
offshore zone has continued to swell as Patrick metres deep.
Pouyanné, the CEO of TotalEnergies (France), TotalEnergies announced the discovery of
suggests that the licence area his company was hydrocarbon reserves at Venus-1x in Febru-
exploring in the Orange basin might be home to ary, shortly after Shell (UK) reported that it had
“giant” reserves of light crude oil. made its own find in the Graff-1 well at a neigh-
Pouyanné explained during a presentation bouring block, PEL 39. The French major has
to investors in New York on September 28 that hinted repeatedly that the field is very large and
results from Venus-1x, the first exploration well that other parts of its licence area also appear to
drilled at the PEL 56 block, had been very prom- contain sizeable volumes of oil and gas, but it has
ising. TotalEnergies has concluded, just on the yet to release any official reserve estimates.
basis of the data from this single wildcat well, For its part, UK-based Wood Mackenzie
that Venus “seems to be a very large” or perhaps had originally estimated the size of the Venus
even a “giant” field, he said. prospect’s recoverable reserves at 1.5bn-2.0bn
He did not comment on the possible size of barrels.
the reserves. By late February, however, the consultancy
Some industry observers have suggested had revised its figures upward, saying in a con-
that Venus may be the largest oilfield ever found fidential client report cited by Upstream Online
in sub-Saharan Africa, as well as the largest it now “conservatively estimates recoverable oil
ultra-deepwater discovery ever made. The volumes of over 3bn barrels.”

P12 www. NEWSBASE .com Week 39 29•September•2022