Page 14 - AfrOil Week 28 2021

AfrOil PROJECTS & COMPANIES AfrOil

The Eban-1X well was drilled at a site just 8 km the consortium set up to explore and develop
north-west of the company’s existing production CTP Block 4, with a stake of 42.469%. The
hub at Sankofa, where a floating production, remaining equity in the project is divided
storage and off-loading (FPSO) vessel known as between Vitol (Netherlands), with 33.975%;
the John Agyekum Kufuor has been stationed, it Ghana National Petroleum Corp. (GNPC),
explained. As such, Eban can easily be linked to with 10%; Woodfields Upstream (Ghana), with
the FPSO via a subsea tie-in, it stated. 9.556%; and GNPC Explorco, a subsidiary of
The Italian major is the leading member of GNPC, with 4%. ™

Angola’s ANPG signs PSCs for

Blocks 27 and 28 in Namibe basin

ANGOLA ANGOLA’S national oil company (NOC) continuing to invest in boosting oil production
Sonangol said last week that it had signed in Angola.” It also pledged to support efforts to
production-sharing contracts (PSCs) for two implement the contracts, saying it would “do
offshore blocks in the Namibe basin with the everything to ensure that these agreements now
National Oil, Gas and Biofuels Agency (ANPG). signed have the expected performance and to
In a statement, the NOC said that the PSCs support the companies involved in whatever is
covered sites known as Block 27 and Block 28, necessary.” ™
both of which are located within a frontier basin
that has not been fully explored. Sonangol will
have a 100% stake in the former licence area and
a 20% stake in the latter.
Under the second PSC, equity in Block 28
will be divided between Eni (Italy), with 60%;
Sonangol, with 20%; and Tiptop Energy (Hong
Kong/China), with 20%. The Italian company
will serve as operator of the project, which will
support its efforts to “consolidate its long-term
strategic presence in Angola, where it operates
a total of five blocks,” according to Sonangol’s
statement.
Eni won the right to negotiate an agreement
for Block 28 in early 2020, following the com-
pletion of Angola’s 2019 licensing round. The
licence area lies in waters ranging from 1,000 to
2,500 metres deep.
For its part, the NOC said that participation
in the exploration and development of Blocks
27 and 28 would help it reach a number of
objectives. Specifically, it said, the projects are
designed to “improve the company’s perfor-
mance to make it more competitive and profita-
ble, to transform it into an oil operator of global
reach, to ensure the continuous increase of oil
resources discovered, to promote the identifica-
tion of new oil and gas reserves that are econom-
ically viable and to leverage the country’s energy
and electrification policy by prospecting [for]
and finding natural gas in existing and future oil
concessions.”
ANPG also hailed the signing of the PSCs. It
singled out the Block 28 deal with Eni for praise,
saying that the contract “clearly demonstrates
the interest of international oil operators in The Namibe basin is an undeveloped frontier province (Image: WesternGeco)

P14 www. NEWSBASE .com Week 28 14•July•2021