Page 19 - AfrOil Week 20 2022

AfrOil NEWS IN BRIEF AfrOil

business new africa bna/IntelliNews

They are providing critical capital for upcoming the Minister of State for Petroleum Resources, due to the performance of the rig that was being
projects – from small- to large-scale and across Chief Timipre Sylva and the Group Managing used on this well. This rig has now been perma-
the entire energy spectrum. Institutions such Director of Nigerian National Petroleum Co. Ltd nently replaced and the Company is confident
as the African Export-Import Bank (Afrex- (NNPC Ltd), Mallam Mele Kyari. Other person- of improved and accelerated performance in the
imbank), African Energy Investment Corp. alities expected include the Chairman, Dangote campaign going forward. It is hoped that results
(AEIC) and the African Development Bank Group, Alhaji Aliko Dangote, Executive Chair- from MSD-20 will be available in the next three
(AfDB) have emerged as key drivers of Africa’s man AA Holdings, Austin Avuru, Chairman, to four weeks.
hydrocarbon sector. Mobilising the required BUA Group, Alhaji Abdulsamad Rabiu among Mark Reid, CEO of SDX, commented: “I am
funds for the development of Africa’s sizable oil others. pleased that we have spud MSD-24, the fourth
and gas projects, these institutions are an inval- NCDMB, May 11 2022 well in the campaign and that we will now be
uable asset for Africa’s energy future. However, drilling simultaneously with two good quality
more needs to be done, and more investment rigs. West Gharib is a very high margin asset in
banks need to be introduced if the full potential PROJECTS & COMPANIES our portfolio with a Netback of $37 per barrel
of Africa’s oil is to be realised. at $71 per barrel Brent in FY 2021. Now that
African Energy Chamber, May 12 2022 SDX Energy announces we have a second rig in operation, the 13-well
campaign can be accelerated to allow us to take
spudding of MSD-24 well at advantage of the current high oil price. I look
POLICY forward to updating the market further as the
campaign progresses.”
NCDMB to host summit on West Gharib SDX Energy, May 18 2022
AIM-listed SDX Energy, the MENA-focused
midstream/downstream energy company, is pleased to announce the Egypt commissions second
spudding of the MSD-24 infill development well
operations on May 23-24 on the Meseda field. This well is the fourth in a phase of MIDOR refinery
fully funded 13-well development drilling cam-
The Nigerian Content Development and Moni- paign on the Meseda and Rabul oilfields in the expansion project
toring Board (NCDMB) has concluded plans to West Gharib concession in the Egyptian Eastern
host the maiden edition of the Nigerian Content Desert. The campaign is aimed at growing pro- Egypt’s Petroleum Minister Tarek El Molla has
Midstream/Downstream Oil & Gas Stakehold- duction to circa 3,500-4,000 bpd by early 2023. commissioned the second phase of the Middle
ers Summit, with theme, Maximising Potentials The MSD-24 infill development well on the East Oil Refinery (MIDOR) within the frame-
in the Midstream and Downstream Oil and Gas Meseda Field (SDX: 50% working interest) spud work of a $2.4bn expansion project.
Sector: A Local Content Perspective. on May 15, 2022, and is targeting the Asl For- The project involved served to boost the
The Summit will be held on May 23-24, mation reservoir at approximately 3,300 feet plant’s throughput capacity by 60% to 160,000
2022 at the Lagos Continental Hotel, Victoria (1,010 metres) TVDSS. It is estimated that the barrels per day (bpd). It also entailed the con-
Island, Lagos and will also be hoisted on Zoom well will take around six weeks to drill, complete struction of four new storage tanks, two of which
to increase the opportunity of participation of and tie-in to the existing infrastructure. MSD- are capable of holding 400,000 barrels of crude
industry stakeholders. 24, with an expected cost to drill and tie in of each, while the remaining two can store 290,000
Announcing the workshop on Wednesday, $900,000-$1.0mn (gross), is anticipated to come barrels each of petroleum products.
the Executive Secretary, NCDMB, Simbi Kesiye on-line and produce at around 300bpd (gross), The second-phase expansion project also
Wabote explained that the Nigerian oil and gas which would immediately contribute to Group included the construction of a new nitrogen
industry had witnessed major projects in the cashflow and result in a payback period of five production unit and a 49-MW power plant, in
Midstream and Downstream sectors of the oil to six months at current oil prices. The Com- addition to a pressure reduction station that can
and gas industry in the last six years. He listed pany expects to update the market on its result handle 1.4mn cubic metres per day of natural
some of the projects to include the NLNG Train in mid-June. gas.
7 Project, the AKK Gas pipeline, the Dangote The first two wells in the campaign, MSD-21 According to MIDOR’s Chairman Gamal El
650,000 barrels per day (bpd) refinery, amongst and MSD-25, have been successfully tied-in and Qaraesh, approximately 87% of the second phase
others. He added that the NCDMB has also are contributing to production. Operations at of the project has been completed, in addition to
made huge investments in modular refineries, the MSD-20 well have been slower than expected the plant’s modernising existing units and rais-
LPG Storage and Bottling Plants and Depots, ing their efficiency.
amongst other interventions. bna/IntelliNews, May 16 2022
He regretted that despite these developments,
the Midstream and Downstream sector still Apex Energy’s Fajr-8
lacks a coherent strategy to maximise the Local
Content potentials of these massive investments. development well tests oil
He hinted that the workshop would seek
to articulate an agenda for actualising the full flow of 2,440 bpd
potentials of massive investments that have
poured into the Midstream and Downstream Egypt-focused Apex International Energy
sector of the Nigerian Oil and Gas industry, with (Apex) has announced results from the test-
a view to maximising the expected benefits to the ing of Fajr-8, a development well at its South
national economy. East Meleiha (SEM) concession in the Western
He stated that the event would be attended by Desert.

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