Page 12 - AfrOil Week 26

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Royalties represent a percentage of production paid in kind to the government of Chad. glEnCoRE, june 28, 2019
EG Ronda attracts Chinese companies
Equatorial Guinea Ronda has received great interest from public and private Chinese companies to invest in Equatorial Guinea and explore opportunities in oil & gas
and minerals at the upcoming EG Ronda Licensing Round meetings in Beijing organised by the African Energy Chamber.
e Chamber will be hosting the 2-day investor forum at the Kempinski Hotel Beijing on July 2nd and 3rd, on behalf of the Ministry of Mines and Hydrocarbons of Equatorial Guinea. e biggest names amongst the Chinese energy industry are con rmed
to attend, including companies such as PowerChina Group, Sinochem, ENN Group, CCCC, CMEC, China Minmetals Corp, China Gas, Beijing Gas, Jincheng Anthracite Mining Group, PetroChina, Sinoenergy, CNOOC etc.
“We look forward to welcoming Chinese and global stakeholders at the EG Ronda forum in China. is is going to start our drive to build a successful and pro table mining sector as we have done with oil and gas,” declared H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons who will be in Beijing next week with his delegation of senior o cials.
e EG Ronda Licensing Round Roadshow 2019 in Beijing will be showcasing the 27
oil & gas blocks on o er under the country’s 2019 oil & gas licensing round, and promote the high-potential that Equatorial Guinea has in minerals such as gold, diamonds, bauxite and iron ore. H.E. Gabriel Mbaga Obiang Lima will notably be accompanied by the Director General of Hydrocarbons and the Director General of Minerals and Quarry, and hold several private meetings with Chinese investors.
afRICan EnERgy CHaMbER, june 26, 2019
One rig leaves Tullow’s work in Ghana
e Stena Forth and Maersk Venturer drillships have been working in tandem on Ghana drilling and completion operations throughout the rst half of the year with four wells drilled and three wells completed. e Stena Forth drillship has now le Ghana to commence drilling in Guyana. e Maersk Venturer will remain in Ghana and will complete the ongoing Enyenra-14 production well, a Jubilee producer and an Enyenra water-injector, before switching to drilling operations for the remainder of the year.
e completion of the Enyenra-14 production well is taking longer than anticipated and consequently will be onstream later than planned. is delay has been re ected in a small revision to full year guidance for TEN which has been adjusted to around 71,000 bopd gross, from 73,000 bopd. Following strong performance from Jubilee, production guidance for the year has been adjusted to around 95,000 bopd gross, up from 93,000 bopd. Reservoir performance in the rst half from existing and new wells has been in line with expectations at both elds and Tullow expects to reach gross production from Ghana of around 180,000 bopd in the second half of 2019.
tUlloW oIl, june 26, 2019
GNPC debt cancellation scrutinised
e Ghanaian Ministry of Finance compelled GNPC to cancel a US$50mn debt it was owed, according to local watchdog Public Interest and Accountability Committee (PIAC). e committee said it was inappropriate that this action had been taken, according to a report in My Joy Online.
PIAC’s chairman, Steve Manteaw, said: “ e manner in which the ministry is
seeking to settle its indebtedness is capricious especially, as it is not based on mutual consent of the two parties.”
PIAC has called on Parliament to review the situation. “ e use of one law (the Earmarked Funds Capping and Realignment Act) to over-ride the provisions of another Act (the Petroleum Revenue Management Act), without repealing the applicable sections of the latter, raises questions bordering on the legality of the Ministry’s actions.”
Tullow drops Mauritania, Zambia blocks
Following interpretation of 3D seismic acquired over Block C-18 in Mauritania, Tullow has decided not to proceed into the next exploration phase and has withdrawn from the licence. Tullow has also decided to withdraw from Zambia Block 31 a er the interpretation of the gravity survey. ese decisions have been made as part of ongoing portfolio management to retain the highest- ranking exploration opportunities.
tUlloW oIl, june 26, 2019
Lekoil lines up Otakikpo development
LEKOIL is pleased to announce the Otakikpo Joint Venture (JV) between Green Energy International Ltd (GEIL) and LEKOIL,
as technical partner. e JV has signed a Memorandum of Understanding (MOU)
with Schlumberger and a subsidiary of a major international oil company which has been operating in Nigeria for more than half
a century. e MOU covers a comprehensive infrastructure sharing and drilling programme around a group of marginal eld assets in OML 11. Standard Chartered Bank (“SCB”) is to act as the lead nancial advisor for the Project and perform nancial advisory, security and banking services required for the Project.
e phased development plan of the project consists of drilling up to ve new wells in Otakikpo, expanding processing infrastructure to comprise an onshore terminal to be located outside the Otakikpo eld operations area, construction of an export pipeline connecting the onshore terminal to an o shore buoy to handle Otakikpo and other elds in OML11.
e Otakikpo Joint Venture will partake
in the costs of its eld development with funds provided for such participation
by the development consortium. Project management and associated asset management costs provided by Schlumberger will be shared between the Otakikpo Joint
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Week 26 02•July•2019