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AfrOil PIPELINES & TRANSPORT AfrOil
EACOP will follow a 1,445-km route from Hoima to Tanga (Image: African Energy Chamber)
The EACOP holding company will be split The partners have said they will build
37.5% to TotalEnergies, the operator; 37.5% EACOP along a 1,445-km route from Hoima,
to CNOOC; 15% to Uganda National Oil a town in western Uganda, to Tanga, a port on
Co. (UNOC); and 5% to Tanzania Petroleum Tanzania’s coast.
Development Corp. (TPDC). The French and The pipe will handle 216,000 barrels per day
Chinese firms are both involved in developing of oil from Blocks 1, 1A, 2 and 3A in western
the oilfields that will provide throughput for Uganda, which are home to the Kingfisher and
the pipeline, with the former company serving Tilenga fields. These fields are due to begin pro-
as operator of Tilenga and the latter is leading duction in 2025 and will eventually yield at least
work at Kingfisher. 260,000 bpd of crude.
INVESTMENT
Cairn Energy set to complete acquisition of
Shell’s Western Desert assets in Q3-2021
EGYPT UK-BASED Cairn Energy is expecting to com- The agreement covers Shell Egypt’s stakes
plete the acquisition of Shell Egypt’s Western in 13 onshore sites, as well as its stake in Badr
Desert assets during the third quarter (July-Sep- El-Din Petroleum Co. The Shell subsidiary said
tember) of 2021. in early September that it was unloading these
The emerging markets-focused oil and gas assets in order to “concentrate on its offshore
producer announced earlier this year that it exploration and integrated value chain in Egypt,
had struck a deal for the sites with Shell Egypt, including seven new blocks in the Nile Delta,
a subsidiary of Royal Dutch Shell (UK/Nether- West Mediterranean and Red Sea.”
lands). The agreement, which was signed amidst
a reshuffling of Cairn’s portfolio, is now pending
regulatory approval in Egypt.
According to previous reports, the agreement
in question was signed between Cairn, Shell
Egypt and Cheiron Petroleum Corp. (Egypt)
in March 2021. It provides for Cairn and Chei-
ron to acquire Shell Egypt’s upstream onshore
assets in the Western Desert for a $646mn base
consideration, plus up to $280mn in additional
payments between 2021 and 2024. Shell Egypt is unloading its Western Desert assets (Image: Shell)
Week 37 15•September•2021 www. NEWSBASE .com P7
