Page 9 - AfrOil Week 31 2019

AfrOil
NEWS IN BRIEF
AfrOil
UPSTREAM
Kosmos Energy Announces Q2-2019 results
Kosmos Energy’s total net production was a record in the second quarter of 2019 averaged approximately 71,100 barrels of oil equivalent per day (boepd).
During the second quarter of 2019, net pro- duction from Ghana averaged approximately 31,700 barrels of oil per day (bpd). As forecast, Kosmos li ed three cargoes from Ghana during the second quarter.
At Jubilee, Kosmos and its partners are plan- ning to accelerate the gas handling enhancement work program into the fourth quarter of 2019. ese enhancements are designed to increase gas handling capacity to above 180 million standard cubic feet per day, thereby allowing oil production rates to increase in the fourth quarter of 2019 and into 2020.
At TEN, completion problems were expe- rienced at the EN-14 well due to mechanical issues, resulting in the well not being completed and the potential deferral of two other TEN wells that were previously planned for 2019. ese issues have reduced our full-year li ing expec- tations for the eld; Kosmos now expects to li four cargos from TEN, down from the previous expectation of ve.
Production in Equatorial Guinea averaged approximately 13,000 bpd net in the second quarter of 2019. Kosmos lifted the forecast one cargo from Equatorial Guinea during the quarter. e electric submersible pump (ESP) program is ongoing and Kosmos expects to complete two more ESP conversions in the third quarter.
e Greater Tortue Ahmeyim project located offshore Mauritania and Senegal remains on track with progress being made across all Phase 1 project areas including subsea, FLNG vessel, HUB Terminal, and FPSO vessel. Pre-FEED work is ongoing for Phases 2 and 3 and these
next phases are expected to expand capacity of thishubtoalmost10mntonnesperyearofLNG for export.
In July, Kosmos announced that the Greater Tortue Ahmeyim-1 well (GTA-1), drilled on the eastern anticline within the unit development area of Greater Tortue Ahmeyim, encountered approximately 30 metres of net gas pay in a high-quality Albian reservoir. Results from GTA-1 demonstrate that the gas resource at Greater Tortue Ahmeyim continues to grow and could lead to further o ake expansion of the project. The GTA-1 well was designed as a future producer and will be used to further optimize the development drilling plans for the BP-operated project.
The previously announced process to sell down Kosmos’ interest in the broader Maurita- nia/Senegal region to 10% is ongoing and is tar- geting a transaction announcement by year end. Kosmos Energy, August 05 2019
Two exploration contracts
signed between Gabon and
Petronas
Minister of Petroleum, Gas and Hydrocarbons Noel Mboumba on Friday signed two explo- ration contracts between the government of Gabon and Petronas.
Blocks F12 and F13, named Yitu and Meboun (“hope” in the Punu and Fang languages), are the two parcels that were ceded to the Malaysian company o the coast of Gabon. ese areas, located in the South Sub-Basin of the oil eld near Mayumba, cover a total area of 4,368.49 square km. e acquisition of these blocks by Petronas demonstrates the potential that Gabon still has in terms of oil.
“We had a hydrocarbon code that was not attractive, and for ve years we did not sign a contract. Today, with the promulgation of the new hydrocarbon code by the head of state, His Excellency Ali Bongo Ondimba, Gabon is in the
process of expanding its oil sector both o shore andonshore,”saidMboumba.
e signature of this exploration and produc- tion-sharing contract (EPSC), which comes just over a week a er the adoption of the new hydro- carbons code, testi es to the attractiveness of this new law and to the favourable oil environment for investors in this sector.
Petronas, five years after signing a similar agreement for the Likuale eld, now holds three assets on the Gabonese sedimentary basin. Once developed, they can achieve total production of 200,000 barrels per day (bpd). e Malaysian oil company thus becomes the first player in deep o shore and deep o shore exploration in Gabon.
Government of Gabon, August 02 2019
SERVICES
Proprietary acquisition for Nabirm Global
Electromagnetic Geoservices is pleased to announce that it has been awarded a contract from Nabirm Global for a proprietary 3-D CSEM survey over Block 2113A, Petroleum Exploration License (PEL 0058) in the Walvis Basin o shore Namibia. e contract value is in excess of $1mn.
Under the contract, EMGS will also provide processing, inversion and interpretation services to Nabirm post acquisition.
Subject to, amongst other things, vessel avail- ability, acquisition is projected to take place in Q1/Q2 2020, with a backstop date (automatic termination in the event if no vessel availability) of May 2020.
EMGS CEO Bjorn Petter Lindhom com- ments: “We are very pleased with the award of this vessel of opportunity contract from Nabirm, which further strengthens our belief that we are well placed to deliver signi cant value to cus- tomers operating o shore Africa, and that the importance of the African market will increase going forward.We are working on developing a 2020 multi-client campaign o shore Namibia, which will allow us to deploy a vessel to the region.”
Nabirm CEO Olayinka Arowolo comments: “We are pleased to be working with EMGS on this project; it is a signi cant opportunity for all our stakeholders as this will be the rst survey of its kind in the region. We believe that EMGS’ proprietary technology will help us de-risk our prospects significantly. Risk Based Solutions Namibia will assist with obtaining the required Environmental Clearance Certi cate prior to the acquisition.”
EMGS, August 01 2019
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