Page 10 - AfrOil Week 38 2019

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NEWS IN BRIEF
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This standalone survey borders Jaan, TGS’ 3D dataset covering the southern portion of the MSGBC Basin. The survey will illuminate plays in the ultra-deep zone to build upon the success the basin has experienced with SNE, FAN and Yakaar. The project has a 60-day acquisition timeline, with fast-track data available four months after acquisition. The full dataset will be available by August 2020.
Kristian Johansen, CEO at TGS said: “I am delighted to announce the commencement of Senegal Ultra-Deep, our latest 3D survey that extends our coverage in a region in which we have been active for a decade. The MSGBC Basin has been one of the most exciting of the world’s frontier exploration basins in recent years, and this survey will help to further develop opportu- nities for our customers offshore Senegal.”
TGS NOPEC, September 19 2019
Smit Lamnalco to provide
integrated marine services
to the Coral Sul FLNG
Smit Lamnalco secured a 10-year fixed term contract with Coral FLNG to provide integrated marine services to the first Mozambique and worldwide deepwater Floating Liquefied Natural Gas (FLNG) facility, the Coral Sul FLNG, now under construction within the framework of the Eni-led Coral South project. The contract also includes several long-term options.
For the delivery of its services, Smit Lamnalco will deploy three fit-for-purpose 95TBP offshore new-build tugs to provide escort, berthing and un-berthing of LNG carriers to the FLNG facil- ity. A fourth new-build OSV will be utilised to provide logistical and marine services support.
“We are looking forward to working in part- nership with Coral FLNG to deliver safe and reliable marine services. We are proud that our in-depth knowledge of providing marine service to LNG facilities in on- and offshore as well as over five decades of local content development expertise all around the world has been recog- nised by our client. We would like to thank them for demonstrating their faith in Smit Lamnalco by awarding the marine services contract to our company,” said Robert Jan van Acker, Smit Lam- nalco’s CEO.
Coral FLNG is a special purpose entity estab- lished by Eni and Area 4 Partners: ExxonMobil, CNPC, Kogas, Galp Energia and ENH. The Coral Sul FLNG, an essential part of the Eni-led Coral South project, which will put in produc- tion the giant Coral reservoir with 450bn cubic metres of gas in place, will operate offshore north Mozambique at a water depth of 2000 metres.
As one of the world’s leading marine ser- vices providers, Smit Lamnalco understands the
process to develop a detailed operational plan and has considerable experience in develop- ing the required scope of work, fit-for-purpose vessel designs suitable for offshore side-by-side berthing and un-berthing and a comprehensive local content programme. These fundamental building blocks will meet the requirements of Coral FLNG and ensure an effective and efficient operation.
Smit Lamnalco, September 17 2019
FINANCE
NNPCconcludes$875.75mn alternative financing package for OML 65 expansion
The push by the management of Nigerian National Petroleum Corp. (NNPC) to increase crude oil production and grow the nation’s reve- nue profile gained momentum with the closure of an $875.75mn alternative financing deal for OML 65, operated by Nigerian Petroleum Devel- opment Co. (NPDC), through the Funding and Technical Services Agreement with CMES-OMS Petroleum Development Co. (CPDC).
NNPC’s Chief Financial Officer Umar Ajiya, disclosed that the project, whose scope includes exploration, development, production and provision of facilities with incremental first oil targeted for Q4-2020, was estimated to have potential reserves of 800mn barrels of oil equiva- lent (boe) with an ultimate recoverable reserve of 244mn boe and cumulative production of 44mn boe from the Abura Main and Abura SE fields.
Speaking at the closing meeting with the financing partners in Dubai, United Arab Emir- ates, Ajiya described the contractor financing model as an innovative approach by NPDC to funding its operations in response to the chal- lenging economic environment, saying the approach would fast-track the development of NPDCs under-developed assets. He said that the project was expected to ramp up production at OML 65 from 900 barrels per day to 60,000 bpd with average production over field life at 40,000 bpd.
NNPC, September 22 2019
VitolandENHannounce
the launch of ENH Energy
Trading
Vitol and ENH, the national oil company (NOC) of Mozambique, today announced the launch of ENH Energy Trading, a joint venture commodity trading company. ENH Energy Trading will initially be owned 51% by ENH and 49% by Vitol. It is anticipated ENH’s share will increase over time.
ENH Energy Trading will focus on energy commodities – in particular LNG, LPG and condensate – enabling ENH to create additional value and develop expertise in trading energy commodities.
Mozambique has an estimated 3.54trln cubic metres of technically recoverable gas resources. In addition to using these resources to fuel domestic energy demand, the first phase of development will produce significant quanti- ties of gas, LPG and condensate, plus over 30mn tonnes of LNG annually, making Mozambique a leading exporter of LNG.
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Week 38 25•September•2019