Page 10 - AfrOil Week 39 2019

AfrOil
NEWS IN BRIEF
AfrOil
This closing comes after Total reached a binding agreement with Occidental on May 3, 2019, to acquire Anadarko’s assets in Africa (Mozam- bique, Algeria, Ghana and South Africa) and signed the subsequent Purchase and Sale Agree- ment on August 3, 2019. This first transaction follows receipt of all requisite approvals by the relevant authorities and partners.
“Mozambique LNG is one of a kind asset that perfectly fits with our strategy and expands our position in liquefied natural gas,” said Pat- rick Pouyanné, Chairman & CEO of Total. “As the new operator, we are fully committed to the Mozambique LNG project and we will bring the best of our human, technical, marketing and financial capacities to further strengthen its exe- cution. Total will of course work on the strong foundations established by the previous opera- tor and its partners, in order to implement the project in the best interest of all those involved, including the government and the people of Mozambique.”
Mozambique LNG is the country’s first onshore LNG development. The project includes the development of the Golfinho and Atum fields, located within Offshore Area 1, and the construction of a two-train liquefaction plant with a capacity of 12.9 million tonnes per year. Area 1 contains more than 60 tcf (1.7 tcm) of gas resources, of which 18 tcf (510 bcm) will be developed with the first two trains. The Final Investment Decision (FID) on Mozambique LNG was announced on June 18, 2019, and the project will come into production by 2024.
The Mozambique LNG project is largely derisked, since almost 90% of the production is already sold through long-term contracts with key LNG buyers in Asia and in Europe. Addi- tionally, the project is expected to have a domes- tic gas component for in-country consumption to help fuel future economic development.
Total operates Mozambique LNG with a 26.5% participating interest alongside ENH Rovuma Área Um (15%), Mitsui E&P Mozam- bique Area1 (20%), ONGC Videsh (10%), Beas
Rovuma Energy Mozambique (10%), BPRL Ventures Mozambique (10%), and PTTEP Mozambique Area 1 (8.5%).
Closing operations are still ongoing in rela- tion to Anadarko’s assets in the other countries (Algeria, Ghana and South Africa).
Total, September 30 2019
POLICY
Ghanaian government
submits draft framework on
exploration, development to
Cote d’Ivoire
Ghana has submitted a draft framework on the exploration and exploitation of hydrocarbons and other subsea and subsurface resources that may span the maritime boundary to Cote d’Ivo- ire. The framework was submitted by a delega- tion led by the senior minister, who is also the chairman of Ghana’s committee for the joint implementation of the International Tribunal for the Law of the Sea (ITLOS) judgement, Yaw Osafo-Maafo, at the third Ghana-Cote d’Ivoire ITLOS judgement implementation meeting held in Abidjan, Cote d’Ivoire on September 19-20, 2019.
This was contained in a communique signed by Osafo-Maafo and the head of Cote d’Ivoire State Mediator, Adama Toungara. According to the communique, the framework was submit- ted after Ghana had reviewed an earlier draft framework agreement on the maritime bound- ary, hydrocarbons and other natural resources received from Cote d’Ivoire in May 2018.
The communique stated that Cote d’Ivo- ire was also expected to study and analyse the document received from Ghana and present it to Ghana during the next session in Accra. Both countries agreed that further discussions would
be held on the draft framework agreement at the next meeting to be held in Accra, it added. The two countries have officially signed on the maps showing the maritime boundary line between Cote d’Ivoire and Ghana in the Atlantic Ocean.
“Cote d’Ivoire and Ghana also agreed for the relevant institutions of both countries to expedi- tiously study the feasibility of a project to build and operate a thermal power plant at the bor- der of the two countries, with natural gas fuel supplied from Ghana and Cote d’Ivoire and the power produced to be dispatched to both coun- tries,” the communique further explained. Government of Ghana, September 25 2019
MOVES
JOGMEC renews agreement with Mozambique
On September 26, 2019, Japan Oil, Gas and Metals National Corporation (JOGMEC), Insti- tuto Nacional de Petróleo (INP) and Empresa Nacional de Hidrocarbonetos (ENH) concluded an official document regarding the enhance- ment of the human resources development in the field of oil & gas resources in the Republic of Mozambique, in the presence of Makihara Hideki, State Minister of Economy, Trade and Industry (METI), and José Maria da Silva Vie- ira de Morais, Ambassador Extraordinary and Plenipotentiary of the Republic of Mozambique.
JOGMEC has provided equity financing to Mitsui E&P Mozambique Area 1 (MEPMOZ), which holds a participating interest in the Rovuma Offshore Area 1 Block since 2008.
In order to support the LNG project in Mozambique, JOGMEC has been conducting capacity-building to experts from Mozambican government in charge of oil and gas develop- ment projects and so far, 136 Mozambican par- ticipants have joined JOGMEC regular training courses for technical experts and LNG-custom- ized courses for technical and non-technical experts held in Japan since the initial agreement on 2012.
This June, on the Mozambique LNG Pro- ject, the final investment decision (FID) was announced. In concert with the progress of the Mozambique LNG project, JOGMEC, INP and ENH consented to renewing official docu- ment regarding the enhancement of the human resources development in the field of oil and gas resources in the Republic of Mozambique.
JOGMEC is going to continue contributing to the human resources development for the growth of oil and gas industry and enhance the strong relationship with the Republic of Mozambique.
JOGMEC, September 27 2019
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Week 39 02•October•2019