Page 15 - AfrOil Week 07 2021

AfrOil NEWS IN BRIEF AfrOil

MBL’s feedstock pipeline combined with INVESTMENT Sangster also reported that the company had
Ecoslops’ proven Mini P2R technology and mar- made significant progress with the develop-
ket expertise will allow us to capture a greater Executive secretary of ment of the Ikike oilfield and would record first
share of the value chain in a clean and economi- oil before the end of 2021. He admitted that “it
cally sustainable manner. NCDMB tasks IOCs had been difficult developing the project, par-
Ecoslops, February 08 2021 ticularly with the pandemic, but we are making
on new projects progress and we appreciate the support from the
NCDMB.”
SERVICES The Executive Secretary of the Nigerian Content NCDMB, February 14 2021
Development and Monitoring Board (NCDMB)
PGS targets Lower Simbi Kesiye Wabote has charged International Panoro Energy acquires
Operating Oil and Gas Companies to emulate
Congo Basin in new Total Exploration and Production Company Tullow Oil’s upstream
(Total E&P) in sponsoring new projects and
Angola acquisition stop being deterred by the delayed passage of the assets in Equatorial
Petroleum Industry Bill (PIB).
PGS, in cooperation with ANPG, has begun a He gave the charge recently when he received Guinea and Gabon
new fully prefunded MultiClient 3D survey in the Managing Director of Total E&P Mike Sang-
the Lower Congo Basin, near the river plume of ster at the Nigerian Content Tower, headquarters London-based exploration and production
the Congo in Angola Block 1/14. The acquisition of the NCDMB in Yenagoa, Bayelsa State. company Panoro Energy has signed two agree-
phase will continue until April and fast-track He commended the MD for his emergence as ments to acquire $180mn in assets held by mul-
data is expected in October 2021. the chairman of the Oil Producers Trade Section tinational Tullow Oil in Equatorial Guinea and
Ramform Atlas is acquiring high-density 3D (OPTS), the umbrella body of major oil produc- Gabon. Panoro Energy will acquire a 14.25%
GeoStreamer data using a 10 x 8 025 m streamer ers, adding that his appointment was deserving working interest in Equatorial Guinea’s Block G,
spread. The survey is designed to produce data of because Total E&P was the only international operated by Trident Energy, and a 10% working
superior resolution, to increase understanding of operating company that had taken Final Invest- interest in Gabon’s Dussafu Marin permit.
the prolific Lower Congo Basin. The Block 1/14 ment Decisions and sanctioned major oil and The $180-million sale of assets consists of up
survey provides the first 3D data in the area. gas projects in recent times in Nigeria despite to $105mn for the Equatorial Guinea transac-
PGS is currently evaluating a series of new the delayed PIB. tion, up to $70mn for the Gabon transaction and
acquisition projects within the Lower Congo While expressing confidence in the determi- a further $5mn to be paid after both transactions
Basin. nation of the 9th National Assembly to pass the have been completed.
Exploration targets in the Lower Congo Basin PIB after it had been delayed for over 15 years, In Equatorial Guinea, the transaction
are found in several stratigraphic intervals. The Wabote encouraged other IOCs to forge ahead includes an $89mn upfront cash considera-
post-salt section contains the proven Miocene with their new projects. He hinted that new pro- tion, which is subject to customary completion
play with numerous producing oil fields. The jects were needed to grow Local Content and adjustments and contingent cash payments of
Upper Cretaceous remains relatively underex- create work opportunities for local fabrication up to $16mn linked to asset performance and
plored with multiple opportunities identified. and manufacturing yards, many of which have oil price. For the Dussafu Marin transaction, a
The pre-salt section has had minimal explora- been idle since the conclusion of the Total’s Egina $46-million upfront cash consideration will be
tion activity but vintage data indicates consid- deep water project in 2018. paid, along with contingent cash payments of
erable potential. Wabote also solicited the support of the chair- up to $24mn linked to asset performance and
PGS, February 16 2021 man of OPTS towards the conclusion of the cat- oil price.
egorisation of in-country oil and gas capacities Africa Oil & Power, February 12 2021
Magseis Fairfield and capabilities, covering engineering, fabrica- South Sudan prepares for
tion yards, testing facilities and training facilities.
awarded OBN deepwater Another area of collaboration with OPTS is in first licensing round
the study for local gaskets manufacturing: study,
survey in Angola to determine what it will take to produce all the South Sudan is launching its first-ever oil and
gasket requirements in-country.
Magseis Fairfield has been awarded a contract He also asked OPTS companies to prove gas bidding round in March 2021, comprising
for a deep-water Ocean Bottom Node baseline feedstock for newly established modular refin- 14 oil blocks in the northern fields and serving to
survey (3D) offshore Angola for a major interna- eries to increase value addition, local refining, drive further exploration and FDI into the sector.
tional energy company. The project is expected demotivate illegal refiners and stealing of crude. The country currently has three producing areas,
to start in Q2-2021 and run for approximately with two exploration areas in progress.
three months. South Sudan stands to benefit from regional
“Our Ocean Bottom Node technology has cooperation through best practices sharing and
delivered high quality and cost-effective data knowledge and technology transfer with exist-
to clients worldwide, and we are glad to bring ing producers – like Egypt – on the continent.
onboard yet another major international energy Meanwhile, neighboring countries have demon-
company to our customer list. This contract rep- strated an increasing interest in developing
resents a meaningful addition to our 2021 back- trade, investment and diplomatic relations with
log,’ says CEO Carel Hooijkaas. the world’s youngest country.
Magseis Fairfield, February 10 2021 African Oil & Power, February 10 2021

Week 07 17•February•2021 www. NEWSBASE .com P15