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AfrOil PIPELINES & TRANSPORT AfrOil

It began building the 3-km jetty, which will be and other industrial units, as well as oil-refin-
able to accommodate vessels ranging from 5,000 ing and petrochemical facilities. DPFZA has
DWT to 100,000 DWT, last September. noted that the complex will be the only facility
DDIP will eventually be home to an LNG ter- of its type in East Africa that has connections
minal, a thermal power plant (TPP), a shipyard to marine, road, rail and air transport routes. ™

INVESTMENT
ADQ joins ADNOC’s bid for Egypt’s

Wataniya Petroleum filling stations

EGYPT ABU Dhabi’s sovereign wealth fund ADQ is
joining forces with Abu Dhabi National Oil
Co. (ADNOC) in its takeover bid for Egypt’s
military-owned Wataniya Petroleum service
stations with the aim of making a stronger offer
for the company, according to unnamed sources
cited by local news agencies.
ADNOC was reportedly in the process of
appointing advisors for the deal last month.
It will be competing for Wataniya Petroleum
with other GCC players, including state-owned
Emirates National Oil Company (ENOC), Saudi Wataniya Petroleum is owned by the military (File Photo)
Arabia’s Aldrees Petroleum and Transport Ser-
vices Co., as well as Taqa Arabia, owned by Wataniya is one of two companies that are
Egypt’s Qalaa Holdings. kick-starting a privatisation programme of com-
The deal is now expected to close in the sec- panies owned by the military’s National Service
ond half of 2021 after the Sovereign Fund of Products Organisation. The SFE had previously
Egypt (SFE), which is managing the sale, last said it was planning to retain a 10-20% stake in
month changed its sale timeline from the first the companies up for sale, with the rest to be sold
half 2021. off to the private sector. ™

Senegal explores options for improving

local service firms’ access to financing

SENEGAL ALTHOUGH Senegal’s government has yet to low-profile to secure credit from commercial
finalise and adopt a law setting local content banks.
standards for investors in oil and gas projects, it The government of President Macky Sall
is exploring several options for improving local is keen to lower these barriers as international
service providers’ access to financing. oil companies (IOCs) proceed with work at
According to a report from the African offshore fields such as Sangomar, Grand Tor-
Energy Chamber (AEC), officials in Dakar have tue/Ahmeyim and Yakaar-Teranga. As such, it
identified lack of access to funding and loans is looking for ways to bridge gaps in financing
as a key obstacle to small and medium-sized before these multi-billion-dollar projects reach
enterprises (SMEs) seeking to enter the oilfield the development phase.
service sector. Some of the options under consideration in
They have also pointed out that the problem Dakar involve mobile finance technology, which
stems partly from the fact that many Senegalese is widely used in Africa. Currently, AEC noted,
SMEs are too large to participate in micro-fi- more than 32% of all adults in Senegal have
nance programmes and yet too small and mobile money accounts.

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