Page 15 - AfrOil Week 15 2021

AfrOil NEWS IN BRIEF AfrOil

“Kenya represents a fourth significant opportu- Total’s visit is largely accredited to Libya’s
nity to diversify our successful 3D reimaging, in newly established political stability, as well as
addition to Mexico, Brazil and Mauritania.” increasing competition from other global energy
ION Geophysical, April 08 2021 giants. Notably, Italian oil major Eni – which
produces almost all of the country’s exported gas
Petrobel hires LOC for and has owned the Greenstream pipeline since
2004 – is competing for a stake in Libya’s energy
Egypt offshore work industry. By actively pursuing a productive dia-
logue regarding the sector, Total is establishing
Marine engineering consultancy LOC, part of itself as the preferred operator for many upcom-
AqualisBraemar LOC Group, has been awarded ing projects.
a two-year contract to provide marine warranty African Energy Chamber, April 13 2021
services to support Petrobel’s offshore assets.
Under the terms of the contract, LOC will Zenith Energy announces
act as marine warranty surveyor on Petrobel’s
upcoming marine projects over the next two extension of SPA for
years, including supporting Petrobel’s marine United’s Q1-2021 net working interest pro-
activities on the Zohr gas field. duction averaged 2,520 boepd (2,053 bpd oil acquisition of SLK oilfield
Petrobel (Belayim Petroleum) is a joint ven- and 467 boepd gas), slightly above the previ-
ture between EGPC (Egyptian General Petro- ously provided guidance for H1-2021 of between from KUFPEC
leum Corp.) and Eni and is considered one of 2,300 and 2,500 boepd.
the largest companies working in the petroleum This represents a 12% uplift compared to Zenith Energy has announced that its wholly
and energy sector in Egypt. Q4-2020, largely driven by the additional pro- owned subsidiary Zenith Energy Netherlands
It operates the Zohr gas field, one of the larg- duction through the ASH gas pipeline (com- has signed an extension agreement in respect
est ever natural gas supplies found in the Med- pleted December 27, 2020) and more recently of the conditional sale and purchase agreement
iterranean Sea, and also operates assets in the from the ASH-3 well, which has been producing (SPA) it signed with KUFPEC for a participation
Gulf of Suez. at an average of over 4,000 boepd (880 boepd in, inter alia, the North Kairouan permit and the
“Petrobel’s operations are of major impor- net) since coming onstream on March 5. Sidi El Kilani Concession, which includes the
tance to the Egyptian energy market. Being All of United’s production for the period was Sidi El Kilani oilfield (SLK). For reference, sign-
awarded a contract to provide marine warranty from the Kuwait Energy Egypt (KEE) operated ing of the SPA was announced to the market on
survey for its marine projects is recognition to Abu Sennan Licence, Egypt, in which United April 20, 2020.
the solid reputation for technical excellence that holds a 22% working interest. KUFPEC holds an undivided 22.5% interest
our local LOC team has built up in the Egyptian United Oil & Gas, April 12 2021 in the Tunisian Acquisition, together with 25
market. We look forward to providing MWS Class B shares in Compagnie Tuniso-Kowei-
support to Petrobel and to expand our service to-Chinoise de Pétrole (CTKCP), the operator,
offering within loss prevention and engineering INVESTMENT representing 25% of the issued share capital of
to the wider Mediterranean energy market,” says the company.
Tamer Gamil, LOC’s country manager in Egypt. Total’s CEO to meet with Completion of the SPA remains conditional
LOC first opened its office in Egypt in 2017, on a favourable opinion being granted by the
in Cairo, and has rapidly developed to become Libyan government Comité Consultatif des Hydrocarbures (CCH)
a leading provider of marine assurance, marine of the Republic of Tunisia and the approval of
warranty, engineering and marine consulting, French Oil Major Total’s CEO Patrick Pouyanné the Tunisian State represented by the Ministry of
and engineering and design services to both the will meet with Libya’s newly formed unity gov- Industry and Energy in respect of the transfer of
maritime and oil and gas sectors in Egypt. ernment on April 20 to discuss the company’s KUFPEC’s right, title and interest in and under
LOC operates in the shipping, oil and gas, and involvement in Libya’s oil and gas sector, mark- the SLK Concession to Zenith Netherlands.
renewables sectors, providing loss prevention ing the start of an economic and sectoral trans- The Extension has been granted in view of the
and loss management services, as well as marine formation in Libya. difficulties caused by the ongoing COVID-19
and engineering consultancy services. Libya currently holds Africa’s largest oil pandemic, which have not enabled Completion
AqualisBraemar LOC Group, April 08 2021 reserves – estimated at 41bn barrels – and to be achieved. The new Longstop date for Com-
Total has expressed interest in the country’s pletion of the SPA is June 30, 2021.
sector, specifically regarding the purchasing of Andrea Cattaneo, Chief Executive Officer
PERFORMANCE new concessions. Total bought a 16.33% stake, of Zenith, commented: “We look forward with
estimated at $450mn, in Marathon Oil’s Waha enthusiasm to hopefully completing the acqui-
United Oil & Gas provides concession in 2018. However, lengthy processes sition of SLK in due course once we receive
a favourable opinion from the CCH and the
and government delays – including the negotia-
quarterly production update tion of a $150mn bonus and a promise to invest approval of the Tunisian State. The Board is
$650mn to boost the Waha field’s output to increasingly confident regarding Zenith Energy’s
United Oil & Gas, the growing oil and gas com- 400,000 barrels per day – caused increased diffi- establishment in Tunisia, where we are currently
pany with a portfolio of production, devel- culty for Total. Subsequently, after the formation assessing certain additional oil production and
opment, exploration and appraisal assets, has of the new unity government, Total is now seek- development opportunities to further enrich our
reported a quarterly production update for the ing additional opportunities for involvement in portfolio.”
first quarter of 2021. the country’s sector according to African Energy. Zenith Energy, April 08 2021

Week 15 14•April•2021 www. NEWSBASE .com P15