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The new company’s asset base includes fields in Mauritania and Egypt (Image: NewMed)
Capricorn’s production focuses on Egypt, and LNG (FLNG) and a pipeline to Egypt are being
Abu said that NewMed would look to raise considered for the development of the field.
output from the current 115,000 barrels of oil In September 2021, Delek finalised the sale
equivalent (boepd) per day to beyond 200,000 of its 22% stake in the Tamar gas field to Abu
boepd by 2030. Dhabi’s Mubadala Petroleum for around $1bn.
“We are creating a company that for the first This saw it meet a mid-December deadline for
time allows international investors to get direct divesting the stake in order to comply with a
exposure to the East Med gas play and Leviathan controversial anti-trust settlement reached in
in particular,” he said. 2015, allowing it to retain the Leviathan share-
He added that options including floating holding.
Senate demands answers from
NUPRC over oilfield allocation
NIGERIA THE Nigerian Upstream Petroleum Regulatory “Since DPR is inherited by NUPRC, the new
Commission (NUPRC) must explain why it agency must furnish this committee with writ-
allegedly re-allocated the Atala marginal oilfield ten directive from President Buhari, upon which
to a different firm, the Senate has said. award of the Atala oilfield was made to Halkin
During a meeting of the Committee on Eth- E and P and not previous operators, as clearly
ics, Privileges and Public Petitions, Senators stated in the presidential directive quashing the
pledged to investigate the alleged revocation and revocation.”
illegal re-allocation of the oilfield. It is claimed Akinyelure also accused Halkin of refusing
that NUPRC illegally gave control to Halkin to appear before the committee, suggesting that
Exploration and Production Company. the company was “running away.”
Citing the News Agency of Nigeria, Lagos-
based newspaper Vanguard revealed that disa-
greements over the oilfield arose in 2020, when
the NUPRC (in its previous form, the Depart-
ment of Petroleum Resources or DPR), revoked
the operating licence of the Atala joint venture
partners.
The JV was made up of BOCL, Hardy Oil
Nigeria and Century Exploration and Produc-
tion. The NUPRC allegedly failed to bring the
Atala Field to production.
The Senate has asked the NUPRC to produce
a written directive from Nigerian President
Muhammadu Buhari with proof that the field
should have been transferred.
“NUPRC ... is not expected to take side on the
disputed oilfield,” said Senator Ayo Akinyelure. Halkin’s licence for the Atala oilfield was revoked in 2020 (Image: DPR)
Week 40 06•October•2022 www. NEWSBASE .com P9
