Page 11 - AfrOil Week 31 2021

AfrOil POLICY AfrOil

The Afina and Sankofa fields are adjacent (Image: Petroleum Commission of Ghana)
After years of delays and disruptions that hold about 500mn barrels of oil and 40bn cubic
regional oil and gas players have already faced metres of gas. Eni began extracting oil from the
due to [coronavirus] COVID-19, we believe that field in 2017. Equity in the project is currently
the conclusion of this case is in the best interests split between Eni (operator), with 44.44%; Vitol
of all parties, and we look forward to working (Switzerland), with 35.56%; and Ghana National
in partnership with Eni and Vitol to maximise Petroleum Corp. (GNPC), with 20%.
the benefits of this project for all stakeholders, Meanwhile, Springfield’s Afina field lies
including the citizens of Ghana,” he commented. within the West Cape Three Points-2 (W/CTP-
According to previous reports, the court 2) licence area, which holds around 1.5bn bar-
ruling will see Eni depositing about $40mn per rels of oil and 19.8 bcm of gas. The Ghanaian
month into the escrow account. company has an 84% stake in the block, and
The Sankofa field lies within Offshore Cape its partners are GNPC and its exploration arm
Three Points (O/CTP), which is believed to EXPLORCO. ™

PROJECTS & COMPANIES
Sound Energy, Afriquia Gaz sign agreement

on fuel supplies from micro-LNG plant

MOROCCO UK-BASED Sound Energy said last week that company at least 171,000 cubic metres per
it had signed a long-term supply agreement year of LNG, equivalent to about 100mn cubic
with Afriquia Gaz (Morocco) for LNG from the metres per year, on behalf of the joint venture
small-scale liquefaction plant that will be built that is developing the concession. The LNG will
at the Tendrara licence area in eastern Morocco. be produced using gas from Phase 1 of develop-
The latter company is a partner in the joint ven- ment work at Tendrara, it said.
ture that is operating the site, which will support Sound Energy did not say exactly when LNG
a micro-LNG project. deliveries would begin. It did state, though, that
In a statement, Sound Energy reported that SEMEL had committed to supplying Afriquia
its wholly owned subsidiary Sound Energy Gaz with 475-546 cubic metres per day of LNG
Morocco East Ltd (SEMEL) had entered into a for 360 days each year over a period of 10 years.
binding 10-year sales and purchase agreement In turn, it said, Afriquia Gaz has pledged to a
(SPA) with Afriquia Gaz. Under this agreement, take-or-pay arrangement under which it will
it explained, SEMEL will sell the Moroccan receive at least 475 cubic metres per day of LNG.

Week 31 04•August•2021 www. NEWSBASE .com P11