Page 18 - FSUOGM Week 27 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global flow 115,000 barrels of oil equivalent per day
(NRG), in which the reader is invited to join (boepd). Some 260mn boe will be recovered
our team of international editors, who provide a in total during its lifetime.
snapshot of some of the key issues affecting their Linge was originally led by Total, now
regional beats. We hope you will like NRG's new known as TotalEnergies. The French major
concise format, but by clicking on the headline had sought to bring it into production in
link for each section the full text will be available 2016, and there were a number of reasons
as before. for the subsequent delays. First there was the
geological complexity of the high-pressure,
AfrOil: Nigeria Passes PIB At Long Last high-temperature field, which led to TotalEn-
Both houses of Nigeria’s National Assembly ergies encountering unexpected difficulties.
voted on July 1 to pass the Petroleum Industry
Bill (PIB), which will serve as the country’s new GLNG: Crown LNG Picks Aker For Indian
oil and gas law. The legislation will now be sent to Project
President Muhammadu Buhari, who is expected Norway’s Crown LNG has picked compatriot
to sign it into law in the near future. Aker Solutions to serve as main contractor
The passage of the PIB marks the success- in the development of a liquefied natural gas
ful conclusion of a long and arduous campaign (LNG) terminal offshore India’s south-eastern
to reform the legal regime governing oil and state of Andhra Pradesh.
gas operations. The existing body of law is still Crown said on July 5 that Aker Solutions
largely based on the Petroleum Profit Tax (PPT) would first conduct the front-end engineering
Act of 1959 and the Petroleum Act of 1969, and and design (FEED) for the 7.2mn tonne per
previous efforts to replace these laws failed mul- year (tpy) LNG terminal, which will be located
tiple times. around 11 km offshore Kakinda City, before
taking on the role as the project’s engineering,
AsianOil: Sacgasco Expands Into Philip- procurement, construction, installation and
pine Upstream commissioning (EPCIC) contractor once a final
Australian junior Sacgasco has expanded its investment decision (FID) has been made.
upstream portfolio after acquiring interests in
four licences offshore the Philippines from Thai LatAmOil: ExxonMobil Drills Dry Hole At Ja-
energy conglomerate Bangchak. billo-1
Sacgasco said on July 5 that it had paid $1 ExxonMobil (US) has experienced a disap-
for BCP Energy International (BCPEI), which pointment at Canje, a deepwater block off-
wholly owns Nido Petroleum. Nido operates shore Guyana, as it did not find commercial
service contracts (SC) 54A with 42.4% and SC quantities of hydrocarbons in the Jabillo-1
58 with 50%, and also owns 22.88% of SC 14C2 well.
and 2.7% of SC 6B. According to Canada’s Eco (Atlantic) Oil
& Gas, an indirect shareholder in the pro-
DMEA: Pipeline Promise In Africa ject, the exploration well was able to test
This week’s DMEA looks at a proposal for a the designated target layers – namely Upper
major new pipeline to increase energy security Cretaceous reservoirs in a stratigraphic trap.
in Zimbabwe and the securing of crude feed- However, the company said in a statement,
stock for a new refinery. Jabillo-1 “did not show evidence of commer-
UK-registered Coven Energy has proposed cial hydrocarbons.” As such, it will be plugged
the construction of a $850mn fuel pipeline to and abandoned.
provide greater energy security to Zimbabwe,
which is heavily reliant on the Beira-Feruka MEOG: Omani Sale And Iraqi Exits
link. This week’s MEOG looks at the proposed
The second link is seen providing a more sale of the drilling arm of Oman’s state oil
cost-effective alternative, through which firm and more majors heading for the door
around 90% of Zimbabwe’s fuel is supplied. in Iraq.
Omani NOC OQ is reported to be con- See the archive and
Euroil: Martin Linge Finally Online sidering the sale of its Abraj Energy Services sign up to receive
Norway’s Equinor has at long last commis- drilling unit as part of efforts to aid the Sul- *NRG Editor’s Picks*
sioned the Martin Linge gas field, a trou- tanate’s economic recovery from the corona- for free by email each
bled project that is arriving five years behind virus (COVID-19) pandemic. week here
schedule and at double its original cost. Sources were quoted by Reuters as saying
Equinor announced the launch on June that the potential sale is part of OQ’s broader
30, estimating that the North Sea field would divestment plans.

P18 www. NEWSBASE .com Week 27 07•July•2021