Page 7 - GLNG Week 15 2022

GLNG AFRICA GLNG

Saipem to provide maintenance services for

Coral Sul FLNG offshore Mozambique

PROJECTS SAIPEM (Italy) revealed last week that it had 2,000-metre-deep water. The vessel is about
won a contract to provide maintenance services 432 metres long and 66 metres wide. It weighs
for Coral Sul FLNG, the floating gas liquefaction around 220,000 tonnes and can accommodate as
plant built for the Coral South LNG consortium. many as 350 people.
In a statement, the Italian service provider According to previous reports, the FLNG will
said the contract had been awarded by Coral be able to turn out around 3.4mn tonnes per year
FLNG SA, a special-purpose vehicle established (tpy) of LNG from its single production train.
by the members of the consortium. It put the It is due to begin processing gas from Coral, a
value of the contract at around $150mn and said natural gas field within the licence area known
that the scope of the deal included “maintenance as Block 4 offshore Mozambique, later this year.
of the entire FLNG facility and onboard supervi- BP (UK) has already agreed to purchase all of
sion, as well as the creation of an onshore logis- its output within the framework of a long-term
tical base.” agreement.
The contract has a term of nine years, with Eni (Italy), the leader of the consortium,
an option to renew for one more year, it added. discovered the Coral field at Area 4 in 2012
Saipem has expressed satisfaction with the and made a final investment decision (FID) in
deal. In the statement, it said that the contract favour of going forward with the $10bn Coral
award showed the success of its efforts to expand South LNG project in 2017. The sharehold-
its business in the LNG sector, diversify its port- ers in the project are Mozambique Rovuma
folio of projects and strengthen its foothold in Venture (MRV), a joint venture owned by Eni,
Mozambique, a country of strategic importance ExxonMobil (US) and China National Petro-
in the energy industry. leum Corp. (CNPC); Galp (Portugal); KOGAS
The Coral South LNG consortium has (South Korea) and ENH, the national oil com-
installed the Coral Sul FLNG vessel at the pany (NOC) of Mozambique.™
operating site located in approximately

India, Spain, Netherlands top Nigeria oil

export revenues in Q4-2021

PERFORMANCE SHIPMENTS to India accounted for the larg- worth of crude in the fourth quarter. It put the
est share of Nigeria’s oil export revenues in the total value of liquid fuel deliveries to Spain dur-
fourth quarter of 2021, according to data from a ing this period at NGN789.2bn ($1.9bn). This
new report published by the country’s National sum also included NGN159.8bn ($385mn)
Bureau of Statistics (NBS). worth of LNG, it reported.
The report, cited by Vanguard on Tues- The third-largest destination for Nigeria
day (April 12), states that Nigeria exported crude in terms of revenue was the Netherlands,
NGN774.5bn ($1.87bn) worth of crude oil to which took delivery of NGN383.6bn ($930mn)
India between October and December of last worth of oil from the West African state in the
year, along with NGN89.8bn ($216mn) of LNG October-December period, the report said.
and NGN6.7bn ($16mn) of LPG. The NBS further noted that Nigeria had
“India remains one of the largest export earned a total of NGN3.8 trillion ($91.6bn) from
markets for Nigeria and accounted for 15.2% crude oil, LNG and LPG exports in the fourth
of total exports in the quarter, amounting to quarter of 2021. It also reported that LNG and
NGN874.9bn ($2.1bn),” NBS said. LPG shipments had accounted for NGN398bn,
The bureau named Spain as the second-larg- or nearly 10.5% of the total, but did not provide a
est destination for Nigerian oil in terms of rev- breakdown of LNG and LPG export earnings.™
enue, noting delivery of NGN624bn ($1.5bn)

Week 15 15•April•2022 www. NEWSBASE .com P7