Page 12 - DMEA Week 41 2022

DMEA REFINING & FUELS DMEA

The Block C, GTA and Yakaar-Teranga licence areas are adjacent to each other (Image: Kosmos Energy)

It reported that BP had pledged to work with In turn, GTA is adjacent to Yakaar-Teranga,
the Ministry of Petroleum, Mines and Energy a block offshore Senegal where BP and Kosmos
to draw up a plan for maximising local content have found gas. The two companies also intend
in the project and noted that the national oil to extract gas from this site and will supply pro-
company (NOC) SMHPH would retain a 25% duction to Senegal’s domestic gas market as well
equity stake in the block. as an LNG plant.
The deal will let BP and Kosmos extend their Meanwhile, the Block C8 agreement will give
footprint in the MSGBC basin offshore West BP and Kosmos access to the BirAllah and Orca
Africa. Block C8 lies north of Greater Tortue/ discoveries offshore Mauritania. Together, the
Ahmeyim (GTA), a large gas-bearing site on two fields hold more than 50 trillion cubic feet
the maritime border between Mauritania and (1.42 trillion cubic metres) of gas. This is more
Senegal where the partners plan to launch LNG than the other two blocks put together, as GTA
production and exports next year. GTA is being has around 15 trillion cubic feet (425bn cubic
developed in phases and will eventually produce metres) of gas and Yakaar-Teranga about 25 tril-
at least 5mn tonnes per year (tpy) of LNG. lion cubic feet (708 bcm). ™

Nigerian Senators reject President’s

proposal on scrapping of fuel subsidy

AFRICA NIGERIA’S budget deficit has risen to such a presented by Buhari so as not to create a crisis for
level that the controversial fuel subsidy policy is the administration that succeeds him next year,
unsustainable, President Muhammadu Buhari This Day reports.
has argued, calling for it to be scrapped. In a speech on Friday, October 7, Buhari
Senators across political party lines, how- argued that with the budget deficit set to widen
ever, have said the National Assembly would to 4.78% in 2023, it is impossible to continue
not pass a proposal on removing the subsidy as with the popular subsidy.

P12 www. NEWSBASE .com Week 41 13•October•2022