Page 7 - AfrOil Week 22 2021

AfrOil INVESTMENT AfrOil

RSSD aims to begin oil production in 2023 (Image: FAR)

These consist of a 13.67% equity stake in the separate fields – Rufisque, Sangomar Offshore
Sangomar Offshore oilfield and a 15% stake in and Sangomar Deep Offshore. Together, these
the other two sections of RSSD’s licence area. sites give the RSSD joint venture its name.
Once the transfer is complete, Woodside will Oil was discovered at the block in 2014, and
own about 90% of equity in the project, and the RSSD will begin production in 2023. The licence
remaining 10% will remain in the hands of Sen- area holds 645mn barrels of oil equivalent (boe)
egal’s national oil company (NOC), Petrosen. in recoverable reserves, including 485mn barrels
The Sangomar licence area includes three of oil and 160mn boe of natural gas. ™

UNOC committed to making FID

on oil refinery project in 2022

UGANDA UGANDA National Oil Co. (UNOC) has reit-
erated its commitment to making a final invest-
ment decision (FID) on the construction of a
60,000 barrel per day (bpd) refinery next year.
According to Proscovia Nabbanja, UNOC’s
CEO, the partners in the project hope to bring
the refinery, which will process crude from fields
near Lake Albert, on stream in 2024 or 2025.
UNOC is therefore determined to reach the FID
stage in 2022, she said late last month.
“We have a role together with the refinery
consortium in ensuring that [all the partners
make] a final investment decision in 2022, in
accordance with the timelines of the project RSSD aims to begin oil production in 2023 (Image: FAR)
framework agreement,” she was quoted as say-
ing by Africa Oil + Gas Report. on the assumption that work will proceed fol-
Equity in the refinery is split between Uganda lowing the FID next year. “There’s a lot of work
Refinery Holding Co. (URHC), a UNOC sub- being done today, such as the environmental
sidiary, with 40%; and the Albertine Graben and social impact assessment and the front-end
Refinery Consortium, with 60%. The consorti- engineering design [FEED],” she said. “We are
um’s members include GE (US), Saipem (Italy), also working with the Ministry of Finance to
Yaatra Ventures (US) and Intra-Continent Asset secure financing for our equity [stake] in the
Holdings (UK). refinery.”
Nabbanja also noted that the partners in the She did not reveal any details of UNOC’s dis-
refinery project had already begun preparations, cussions with the ministry.

Week 22 02•June•2021 www. NEWSBASE .com P7