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Chevron signs MoU with EGAS on

East Med gas transport, export

EGYPT THE US oil major Chevron signed a memoran- metres per year of gas directly to Egyptian LNG
dum of understanding (MoU) with state-owned plants.
Egyptian Gas Holding Co. (EGHC) on June 20 Also on June 20, Chevron’s chairman Mike
concerning co-operation in building infrastruc- Wirth announced after a meeting with Pres-
ture for the transportation of natural gas from ident Abdel Fattah El Sisi that his company’s
East Mediterranean fields to LNG plants in plans for exploration and production in Egypt
Egypt for export. were proceeding on schedule. Chevron is set to
The MoU calls for the formation of a com- begin drilling its first exploration well in its East
mittee to jointly discuss and develop future Mediterranean concession area offshore Egypt
projects and study the possibility of producing in September, he said. ™
low-carbon LNG. At least one of the projects
under consideration would facilitate the move-
ment of gas from Israel’s Leviathan gas field to
Egypt’s two existing LNG plants.
Leviathan, in which Chevron has a 39.66%
owned and operated interest, is one of the
world’s largest deepwater gas discoveries. The
field is located 130 km offshore from Haifa,
Israel.
It was reported in March that Chevron is
pressing ahead with plans to build a 60-km
onshore pipeline to connect Israel’s southern gas
network, which handles gas from the Tamar and
Leviathan fields, with that of Egypt in the Sinai
Peninsula. The US major and its partners are
currently waiting to receive permits to green-
light the construction of the $100-150mn pipe-
line, which will be able to deliver 6-7bn cubic The deal was signed on June 20 in Cairo (Photo: Egyptian Ministry of Petroleum)

Tanzanian, Ugandan insurers sign deal

on uniform premiums for EACOP project

TANZANIA/UGANDA TANZANIAN and Ugandan insurance provid- “The consortium will enable us to speak the
ers have struck a deal on the establishment of same language. We insure oil and gas for the first
a consortium that will ensure the uniformity of time so we didn’t have enough necessary skills.
premiums for local contractors involved in the The percentage agreed is 5% of retention and we
East Africa Crude Oil Pipeline (EACOP) pro- will work closely together on this,” UAI chair-
ject, The Citizen has reported. man Latimer Mukasa stated.
Under an agreement signed at the weekend, “We had a very good day. We met with Tan-
the Uganda Association of Insurers (UAI) and zania Insurance Regulatory (TIRA), National
the Association of Tanzania Insurers (ATI) are Insurance Corp. (NIC) and Tanre because those
now slated to form a consortium that will set a are key players in this project,” he added.
5% premium for local companies, as stipulated EACOP is the midstream component of
in the local content clause of the EACOP final the $10bn Lake Albert Development Project
investment decision (FID). This arrangement (LADP), under which France’s TotalEner-
is expected to encourage international oil com- gies and China National Offshore Oil Corp.
panies (IOCs) to use local insurers rather than (CNOOC) will develop the Kingfisher and
sticking to their own offshore providers. Tilenga oilfields in western Uganda.

P6 www. NEWSBASE .com Week 25 22•June•2022