Page 14 - LatAmOil Week 39 2022
P. 14

LatAmOil                                     NEWS IN BRIEF                                          LatAmOil










       INVESTMENT
       Barbados to open offshore

       bid round on December 1

       Minister of State in Foreign Trade and Business
       Sandra Husbands has announced that Barbados
       will open its Offshore Licensing Bid Round in
       the coming months.
         Speaking at the opening of a three-day
       Energy Local Content Workshop, Minister Hus-
       bands said that the Ministry of Energy and Busi-
       ness plans to launch the Barbados 2022 Offshore
       Licensing Round on December 1, 2022.
         She  said:  “Interested  companies  will  be
       invited to nominate acreage from available
       blocks, for inclusion in the bidding process. The
       upcoming licensing round presents an opportu-
       nity to explore the island’s untapped deep-water   Starboard has a partnership with Apollo  Rockhopper 35%, Navitas as operator 65%;
       potential under a competitive legal, fiscal and  Global Management, a leading global alterna-  PL005, Rockhopper 35%, Navitas as operator
       regulatory framework.”              tive investment manager, with Apollo holding a  65%; PL0032, Rockhopper 35%, Navitas as oper-
         She added: “The new global economy is  minority stake in Starboard.    ator 65%; PL0033, Rockhopper 35%, Navitas as
       being driven by renewable energy, energy own-  Through the conclusion of the transaction,  operator 65%.
       ership, and energy investment. These realities  Starboard will be the largest shareholder of the   North Falkland Basin: PL011, 100% Rock-
       and the need to make local businesses viable  Company and will act, jointly with Kvalitena and  hopper as operator; PL012, 100% Rockhopper as
       to compete on the international market help  other stakeholders, in the implementation of a  operator; PL014, 100% Rockhopper as operator.
       to inform the mandate of the Barbados Energy  strategy to create value for the Company.  Samuel Moody, CEO, commented: “We
       Local Content Development Project. However,   Paulo Thiago Mendonça, Managing Director  are delighted to welcome Navitas to the North
       the ultimate goal is to ensure that the country’s  of the Starboard group, stated: “Starboard is con-  Falkland Basin as Operator of the Sea Lion
       transition from fossil fuels to 100 per cent renew-  fident in the quality of Maha’s assets and intends  development and wider acreage with all of its
       able energy sources is realised. This way, we can  to ramp up production of cash flow-oriented  associated upside. We also thank both the Falk-
       ensure that all Barbadians have access to energy  assets. Starboard will pursue the creation of an  land Islands Government and Harbour for their
       that is reasonably priced, reliable, and sustaina-  energy platform focused on dividend generation  work on this Transaction and look forward to
       ble,” she explained.                and value creation for the shareholders.”  working with Navitas to bring Sea Lion to fru-
       Energy Chamber of Trinidad and Tobago,   Seth Lieberman, Chairman of Kvalitena,  ition. Sea Lion alone is capable of producing at
       September 27 2022                   stated: “We are extremely pleased to have Star-  over 120,000 barrels [per day (bpd) of oil] with
                                           board join Kvalitena as a significant Maha share-  significant upside. The proven oil and gas in the
       Kvalitena sells shares              holder. Starboard has an excellent track record  Falklands has the potential to form a material
                                           of delivering on production targets, generating  part of wider UK energy supply in a relatively
       in Maha Energy                      cash flow and creating and delivering value to  short time frame, bringing with it huge potential
                                                                                security of supply and financial benefits for all
                                           shareholders.”
       On September 28, 2022, Kvalitena, a company   Maha Energy, September 28 2022  stakeholders.”
       incorporated and registered in Sweden, entered                           Rockhopper Exploration, September 23 2022
       into a Share Purchase Agreement with vehi-  Rockhopper announces
       cles managed by the Starboard group in which
       Kvalitena sold approximately 10% of the shares   Sea Lion update         POLICY
       issued by Maha Energy, a public limited liability
       company incorporated under the laws of Swe-  Rockhopper Exploration, the oil and gas explo-  Energy Chamber of Trinidad
       den, to Starboard.                  ration and production company with key inter-
         Starboard is a Brazilian investment man-  ests in the North Falkland Basin, has announced   & Tobago pleased with
       agement firm with offices in São Paulo, Rio de  that, further to the signing of definitive docu-
       Janeiro and Madrid. Its extensive experience  mentation as announced on April 19, 2022, the   fiscal measures announced
       and credibility with market participants in the  transaction enabling Harbour Energy to exit and
       Brazilian space allow Starboard to find unique  Navitas Petroleum through its UK subsidiary to   in Budget 2023
       investment opportunities and provide solutions  enter the North Falkland Basin with a 65% stake
       to highly complex situations. Starboard’s exper-  in, and operatorship of, all of Rockhopper’s  The Energy Chamber welcomes measures put in
       tise has enabled the development of a successful  North Falkland Basin licences, has completed.  place by the Ministry of Finance to improve the
       strategy in energy and oil and gas assets, such   Licence ownership post Transaction com-  fiscal environment under which the upstream
       as 3R Petroleum Óleo e Gás SA (a publicly held  pletion, North Falkland Basin: PL003, Rock-  energy sector companies operate in Trinidad
       company in Brazil) and Gemini Energy SA.  hopper 35%, Navitas as operator 65%; PL004,  and Tobago.



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