Page 9 - AfrOil Week 50 2022

AfrOil INVESTMENT AfrOil

Block CI-803 is adjacent to Block CI-824, also operated by Tullow (Image: Tullow Oil)
During the first two and a half years of the understanding of the Tano basin.”
licence, Tullow plans to analyse and evaluate Tullow had made similar comments in its
potential prospects in the area using previously November trading update, saying that the new
collected 3D seismic data. block would offer “operational synergies with
Rahul Dhir, the company’s CEO, said: “This the company’s existing producing fields and its
new licence underscores our strong commit- experience in the Tano basin.”
ment to investing in and unlocking the resource Founded in 1985, Tullow Oil is a multina-
potential in Côte d’Ivoire. Our exploration tional oil and gas exploration company that
strategy is focussed around existing producing is headquartered in London. The company
fields in basins where we have a differentiated has operations in countries around the world,
understanding, in this case through our deep including Africa, Europe and South America. ™

Afentra sees acquisition of two blocks

offshore Angola delayed until early 2023

ANGOLA AIM-LISTED Afentra said in a statement on complete before the end of 2022. Shareholders
December 14 that it did not expect to achieve in the project are “continuing to make good pro-
its goal of finalising the acquisition of minority gress” but will need more time, it reported. As
stakes in two blocks offshore Angola before the such, Afentra and the other partners are work-
end of the year. ing with Sonangol to push the deadline back so
Afentra had signed a sales and purchase that they can complete the acquisition in the first
agreement (SPA) with Angola’s national oil com- quarter of 2023, it said.
pany (NOC), Sonangol, for a 20% stake in Block Additionally, the statement noted that Afen-
3/05 and a 40% stake in Block 23 in late April. In tra’s wholly-owned subsidiary Afentra (Angola)
August, it explained that execution of the SPA Ltd was on track to finalise the acquisition of
was subject to certain conditions, including two assets from Croatia’s INA in the near future.
obtaining the relevant government permissions Afentra (Angola) Ltd has already wrapped up
and an extension of the production-sharing negotiations with INA on the purchase of a 4%
agreement (PSA) for Block 3/05 to December stake in Block 3/05 and a stake of up to 5.33%
31, 2040. in Block 3/05A, it said, and the deal has now
In its December 14 statement, though, Afen- been submitted to Angola’s Ministry of Mineral
tra said that discussions on the extension of the Resources, Petroleum and Gas (MIREMPET)
Block 3/05 PSA were ongoing and unlikely to be for approval.

Week 50 15•December•2022 www. NEWSBASE .com P9