Page 8 - AfrOil Week 28 2021

AfrOil INVESTMENT AfrOil

The Australian company said, though, that it
was looking to bring its participating interest in
the project down to 40-50% and hoped to reach
agreement with a new partner in the second
half of this year. (It did not name any potential
investors.)
Meg O’Neill, the acting CEO of Woodside,
expressed satisfaction with the deal. “Sangomar
is a world-class resource which will deliver near-
term production and revenue for Woodside. We
are targeting first oil in 2023,” she said.
She also noted that work at the RSSD block
was proceeding on schedule. “The continued
safe execution of the Sangomar project is a key
priority for Woodside in 2021,” she commented. Woodside now holds about 90% of equity in the Sangomar project (Image: FAR)
“A major milestone is expected tomorrow with
the arrival of the Ocean BlackRhino drillship in about 75%. The only other shareholder in the
preparation for commencement of development joint venture is Petrosen, the national oil com-
drilling next week. The construction of the float- pany (NOC) of Senegal.
ing production, storage and off-loading [FPSO] The Sangomar licence area includes three
facility, which is a converted oil tanker, is well separate fields – Rufisque, Sangomar Offshore
underway, and we are receiving delivery of sub- and Sangomar Deep Offshore. Together, these
sea equipment in Senegal.” sites give the RSSD joint venture its name. Oil
Woodside became the majority shareholder was discovered at the block in 2014. RSSD has
in RSSD last year, after Cairn Energy (UK) estimated that its licence area contains 645mn
announced plans to sell its minority stake to barrels of oil equivalent in recoverable reserves,
Russia’s Lukoil. Woodside pre-empted that deal, including 485mn barrels of crude oil and 160mn
thereby bringing its holdings up from 35% to boe of natural gas. ™

Angola’s onshore licensing round

attracts bids from 16 companies

ANGOLA ANGOLA’S National Oil, Gas and Biofuels KON-20. It did not reveal the details of the bids,
Agency (ANPG) has wrapped up the bidding but it said that the CON-6 block had attracted
phase of this year’s onshore licensing round, the most attention, since it drew no less than six
which covers nine onshore blocks in the Lower offers.
Congo and Kwanza basins. It also reported that one of the largest indi-
The concessionaire said earlier this week vidual bids had been made by the national oil
that 16 companies had submitted offers worth company (NOC) Sonangol. According to Her-
a total of $1bn for operating and non-operating menegildo Buila, ANPG’s director of negotia-
stakes in the blocks – CON-1, CON-5, CON-6, tions, Sonangol made a sizeable bid for a 20%
KON-5, KON-6, KON-8, KON-9, KON-18 and equity stake in the block known as KON-5.

Nine blocks were included in Angola’s onshore licensing round (Image: ANPG)

P8 www. NEWSBASE .com Week 28 14•July•2021