Page 14 - AfrOil Week 26 2021

AfrOil PROJECTS & COMPANIES AfrOil

ExxonMobil and GOIL signed a deal on the project in 2018 (Photo: GOIL)

“What we have done as a company is to continue Ghana’s offshore zone.)
to explore and look for partners who will [join] The US giant had held an 80% equity stake
us,” he added. in DW/CTP, while the remaining equity was
He also declared that he did not expect the split between Ghana National Petroleum Corp.
US super-major’s exit from DW/CTP to deter (GNPC), with 15%, and GOIL’s subsidiary GOIL
future investments in Ghana’s oil sector. Offshore, with 5%. It won the right to negotiate
ExxonMobil announced its decision to quit an exploration contract for the block in 2018 and
the project earlier this year in a letter to the finalised an agreement with GNPC and GOIL
Ghanaian government. In the letter, the US Offshore the following year. That agreement
giant said it was giving up its majority stake in covers a 1,482-square km licence area located in
and operatorship of DW/CTP after fulfilling water ranging from 1,550 metres to 2,850 metres
its contractual obligations during the initial deep.
exploration period of the project. Sources cited DW/CTP is 92 km from the Ghanaian coast
by Bloomberg said in May that the company and is adjacent to the Deepwater Tano/Cape
had made this decision after processing around Three Points (DWT/CTP) block operated by
2,200 square km of 3D seismic data collected Norway’s Aker Energy, as well as the Offshore
from the block and without drilling explora- Cape Three Points (O/CTP) and Offshore Cape
tion wells. (The company had licensed the data Three Points South (O/CTPS) blocks operated
from a multi-client seismic survey conducted in by Italy’s Eni. ™

Edo modular refinery ready for action

NIGERIA THE governor of Nigeria’s Edo State said this Company Ltd to process 6,000 barrels per day
week that a modular refinery at Ologbo in the (bpd) of local crude and produce refined prod-
state’s Ikpoba-Okha local government area is ucts including kerosene, diesel, naphthalene
now ready to begin operations. and petrochemicals. The project company was
Speaking ahead of a tour of the refinery by launched by Obaseki’s Edo state administration.
the facility’s managing director, Tim Tian, for- Edo Modular Refinery will receive feed-
mer investment banker Godwin Obaseki said: stock from Nigerian Petroleum Development
“We were in China to sign this memorandum Co.’s (NPDC) oil mining lease (OML) 111, near
of understanding (MoU). I am very impressed Benin City. The facility will produce 500,000
that work has moved [at] such a speed in spite of litres of diesel, 300,000 litres of naphtha and
the delay caused by [the coronavirus] COVID- 200,000 litres of fuel oil.
19 pandemic.” Its development is being carried out in two
He added: “The plant is ready to receive crude phases, with the first intended to complete a 500
oil; it is ready to process and it is ready to deliver bpd demonstration refinery and the second to
products. They have done the pre-commission construct a 5,000 bpd facility.
with the Department of Petroleum Resources In September 2018, a local government state-
[DPR], they have certified the refinery.” ment said that Obaseki had approved a state
The Edo Modular Refinery is being devel- contribution of NGN700mn ($1.94mn) for the
oped by Edo Refinery and Petrochemicals modular refinery.

P14 www. NEWSBASE .com Week 26 30•June•2021