Page 7 - AfrOil Week 02 2023

AfrOil PIPELINES & TRANSPORT AfrOil

The Eni assets involved in the transaction gas to Spain via Tunisia.
include a 100% interest in the Trans Tunisian The deal also covers 50% stakes in Transmed
Pipeline, a 99.85% stake in Scoga, a 66.06% and Mariconsult, along with a 5% interest in
interest in Sergaz, and a 50% stake in TransMed- Samco Sagl, a company providing services for
iterranean Pipeline Co., which pumps Algerian the offshore pipeline.™

INVESTMENT
CEO says Sonatrach will invest over $30bn

in exploration and production by 2027

ALGERIA ALGERIA’S state-owned energy group projects will enter service in the next two years.
Sonatrach will invest more than $30bn in the He called on European partners to conclude
exploration and production of hydrocarbons long-term purchase agreements, in order to
over the next five years, notably natural gas, in ensure the security of their supplies.
a bid to improve exports, said the group’s CEO Regarding LNG exports, Hakkar indicated
Tewfik Hakkar. that Sonatrach intended to upgrade its gas liq-
These investments will be made within the uefaction plants.
framework of Sonatrach’s five-year investment Sonatrach exported 56bn cubic metres of
plan (2023-2027), budgeted at $40bn, Hakkar natural gas in 2022. ™
added. The investment plan includes preparing
a portfolio of future gas projects, he said.
Sonatrach also intends, within the frame-
work of its investment plan, to allocate more
than $7bn for refining and implementing petro-
chemical and gas liquefaction projects, accord-
ing to Hakkar. The group will also allocate $1bn
to finance green energy transition projects,
including solar energy and green hydrogen pro-
jects as well as the production of photovoltaic
panels, he said.
Hakkar went on to say that discoveries made
at some gas fields will allow for significant
increases in the volumes available for export via
pipelines or tankers.
He added that the group
will continue to develop its gas potential,
promising that many under construction Gas production and transportation infrastructure in Algeria (Image: ISPI)

Nigerian equities market sees strong end

to 2022, led by growth in oil & gas index

NIGERIA THE Nigerian equities market ended the year 462.48 index points, driven by gains in the share
2022 on a strong note, with the NGX All-Share prices of Seplat Energy, Ardova, Eterna and
Index rising by 19.98% and closing at 51,251.06 Conoil. The NGX oil and gas index comprises
index points, Nairametrics has reported. nine listed oil marketing and production firms.
The oil and gas index was the standout per- In addition to the impressive performance of
former, rising 34.05%. According to data from the oil & gas index, the market also recorded a
the Nigerian Exchange Ltd, as seen by Naira- gain of NGN5.619 trillion ($12.43bn) in market
metrics, it rose by 117.47 basis points to close at capitalisation during the year.

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