Page 10 - AfrOil Week 28

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Algerian arrests continue
An Algerian Supreme Court judge has ordered the arrest of Senator Djamel ould Abbes, on July 7. e senator – the Senate’s vice president – was charged with the squandering public funds, forging o cial documents and signing illegal deals.
Morocco World News reported that the senator had waived his immunity in June. He is considered to be an ally and friend of the former president, Abdelaziz Boute ika.
others that have been arrested since the fall of Boute ika include Ahmed ouyahia and Abdelmalek Sellal, both former prime ministers, in addition to former commerce minister, Amara Ben Younis, and national security chief Abdelghani Hamel and two of his sons.
Egypt concerned over Turkey drill plans
In a statement issued by the Ministry of Foreign A airs, on Tuesday July 9, 2019, the Arab Republic of Egypt expressed concern regarding Turkey’s announced intention to drill in the vicinity of the Republic of Cyprus, as this represents a continuation of unilateral measures that serve to increase tension
in the Eastern Mediterranean region. e statement stressed the necessity of avoiding escalation, and committing to the respect and implementation of the rules and provisions stipulated by international law.
EgyPt ministRy of foREign AffAiRs, july 8, 2019
Atshan gas field to supply Obari power plant
e Board of Directors of National oil Corporation (NoC) have approved zallaf oil & Gas Exploration and Production Company’s plans to expedite exploration at the Atshan
gas eld (NC210 and NC151), with a view to supplying natural gas to the obari power plant located some 170 kilometres away.
A feasibility study to further develop
the eld was presented to the NoC Board
at corporation headquarters by Dr Khalifa Rajab, chairman of zallaf ’s management committee. e Board authorised a series
of comprehensive reservoir studies and a development plan to determine existing
gas reserves, feasible production rates, and associated development and production costs.
NoC chairman, Eng. Mustafa Sanalla had previously discussed earlier this month the gas link proposal with the Minister of Planning, requesting a budget to fast-track project development to replace crude oil currently used as fuel at the plant. libya’s Presidency Council recently issued a resolution ratifying NoC supply of the power plant, while
the General Electricity Company of libya (GECol) has been preparing for the station’s commissioning.
“Supplying natural gas instead of crude oil would increase the e ciency of the obari plant and signi cantly reduce emissions. e switch to gas would also save at-least 15000 barrels per day that could be sold internationally – further increasing libya’s export capacity and contributing to national revenue growth. We hope the Ministry will approve necessary funding so we are able
to progress this strategic project as soon as
possible,” commented Sanalla.
e meeting was also attended by NoC
Board members, Eng. Abulgasem Shengheer and Mr Elamari M. Elamari; Dr Abdulsalam Abdullah Aziz, member of the exploration and production management committee; Mr Abdulha d Abdullah Abu Ain, member of the operations, maintenance and materials management committee; and Mr Ahmad Erhumah, zallaf ’s planning and business development manager.
noC, july 9, 2019
Chariot continues Lixus work
Chariot oil & Gas is undertaking a further CPR on an additional ve prospects in the lixus licence, which should be completed
in q4 2019 and the Environmental Impact Assessment to facilitate appraisal operations in 2020 has been initiated. e partnering data-rooms, for the lixus licence, are open and the Chariot team is pleased with the level of interest seen to date from a wide range of businesses.
At the Company’s other Moroccan licences, Mohammedia and Kenitra, geochemical analysis indicates a hydrocarbon charge from Cretaceous or younger source rock, with the Cretaceous known as a world class source rock. Additionally, excellent quality upper Jurassic sandstone reservoirs and e ective seal identi ed in the Rabat Deep 1 well signi cantly de-risk the
clastic prospects and leads with prospects MoH-B (gross mean prospective resource
of 637mmbbls) and KEN-A (gross mean prospective resource of 445mmbbls) priority targets.
In Namibia, Chariot recently demonstrated its strong operational capability with the e ciently drilled
Prospect S well, which came in on time and signi cantly below budget. Whilst the results of the well degraded some of the prospects, there remains signi cant prospectivity within the substantial Central Blocks licence which spans a total of 16,800km2. Namibia remains a region of signi cant industry interest.
Partnering processes are ongoing across the portfolio and the Company will update the market on developments as appropriate.
Chariot continues to exercise capital discipline in all areas of the business, ending 2018 debt free and with US$19.8 million
in cash. e Company maintains tight control over its cost base and remains fully funded for its current work commitments, which are less than US$1.0 million. Chariot continues to seek additional value accretive
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Week 28 16•July•2019