Page 14 - AfrOil Week 26

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to phenomenal boosts in productivity and lessening of cash calls burden on government, achieved through alternative funding arrangements we developed”, he said.
nnPC, june 28, 2019
EMGS wins CSEM survey for BP
Electromagnetic Geoservices (EMGS) is pleased to announce that it has been awarded a contract from BP for a proprietary CSEM survey, o shore Senegal and Mauritania. e contract has a total value of around US$6mn. Acquisition is expected to start in the rst quarter of 2020.
CEO of EMGS, Bjørn Petter Lindhom comments: “EMGS is delighted to return to Africa and for the opportunity to work for BP and partners on their high-pro le acreage in Mauritania and Senegal. is contract extends our already healthy backlog and puts us in a good position to secure additional work in the proli c MSGBC Basin and in West Africa.” EMgs, june 28, 2019
Penspen, MJM Energy
partner to study of gas
pipeline network in Senegal
Penspen has partnered with MJMEnergy,
a leading gas and energy consultancy, for the gas-to-power study early development phase in Senegal. Penspen will be providing the key technical services for the sizing and routing of the pipeline network options, plus cost estimating. e integrated MJMEnergy and Penspen team will work closely with
the government of Senegal to support the overall development of its gas-to-power strategy. e contract has been awarded by the International Finance Corporation, part of the World Bank, in association with the Senegalese Ministry of Petroleum and Energy.
Signi cant o shore oil and gas discoveries have transformed the energy outlook in Senegal and the country is now undertaking a major domestic project to bring the bene t of this natural resource to its citizens.
Penspen will undertake technical investigations of the natural gas network scenarios for connecting potential gas consumers with new gas supplies. It will
also provide a conceptual design for the gas network infrastructure, a cost estimate and schedule for developing the network, and
risk assessments for the design, land access, construction, operation, environmental, social and technical aspects.
MJMEnergy will de ne the gas markets,
economic and nancial aspects of the project, and develop the institutional framework and business requirements for the new, public- private gas network company required to build, own and operate the network. is scope of work is to focus on de ning the objectives and business plan of the new enterprise, as well as its strategy, including the gas market and regulatory requirements, a SWOT analysis and pro forma nancial statements.
Peter O’Sullivan, Penspen’s CEO said: “We are pleased to be contributing to the development of Senegal’s domestic gas sector. is important project is a signi cant milestone for the country in providing access to competitive and clean supplies of energy to its people. We look forward to using our deep technical experience to help Senegal maximise the bene t from the natural gas it has discovered within its territorial waters.” PEnsPEn, july 1, 2019
East afRICa
Ethiopia eases
requirements to stimulate
exploration
e National Bank of Ethiopia has removed the requirement that oil and gas companies have foreign currency bank accounts in the country, which has hampered investment, e Reporter said. e report, on June 29, said oil companies had suspended plans as a result of the requirement.
e Reporter quoted a senior oil ministry source as saying the decision to remove this requirement has led to companies resuming work and are interested in new exploration.
It cited the instance of Delonex Energy, which had been working on the acquisition of Block 10 and 14, in the Ogaden Basin. e account directive was said to be preventing the company from signing the PSA. Now that is gone, a deal is expected imminently.
“More companies are now showing interest to take new concessions. We have also prepared open exploration blocks not only in the Ogaden but also in other parts of the country,” the source was quoted as saying by e Reporter. “ e removal of the NBE’s directive has resurrected the oil and gas sector which was in a standstill for quite sometime.”
New Age (African Global Energy) has also been pushing for changes in the law, in order to help it commercialise a gas discovery it has made in the Ogaden, at Elkuran.
Somalia resolves licence fee backlog
e Somali government has reached a deal with ExxonMobil and Royal Dutch Shell settling ground rentals that had accrued since 1990. Dalsan Radio reported the two countries could return to the East African state ahead of a licence round, due this year.
Exploration was suspended under force majeure, following the outbreak of civil war. “(An) agreement was signed in Amsterdam, Netherlands, on June 21, 2019 and settles issues relating to surface rentals and other incurred obligations on o shore blocks,” the ministry was quoted as saying by Dalsan.
Wentworth production drops in Q2
Average production to 24 June 2019 was 65.6mn cfd, gross, impacted in Q2 2019 by increased hydro-electric supply during the rainy season. e wet season is now over and output from the hydro-electric power plants is starting to diminish.
As previously announced, the Company expects to see existing demand underpinned and set to increase over the second half of 2019.
Production has been impacted by additional gas supplied into the transnational pipeline from the Songo Songo eld, following the signing of a new Gas Sales Agreement (GSA) with the government of Tanzania in May 2019 by Pan African Energy Tanzania (PAET). PAET are currently supplying
c.20 MMScf/d into the National Natural
Gas Pipeline (NNGP) and the Company anticipates that this additional supply will continue throughout H2 2019.
As a result of the above, full year average daily Mnazi Bay production for 2019 is now expected to be in the range of 60 to 75mn cfd.
As previously announced and planned, routine workover and pressure monitoring will continue throughout H2 2019 in order to optimise the performance of the eld.
anks to consistent monthly payments that continue to be received from both Tanzanian Petroleum Development Company (TPDC) and Tanzania Electric Supply Company (TANESCO), the Company continues to deleverage its balance sheet
and comfortably meet its debt obligations, which now stand at US$5mn. e Company anticipates being debt free in Q1 2020 with
a nal debt repayment in January 2020; cash balance at 31 May 2019 was US$10.6mn. WEntWoRtH REsoURCEs, june 27, 2019
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Week 26 02•July•2019