Page 17 - AfrOil Week 09 2023

AfrOil NEWS IN BRIEF AfrOil

business new africa bna/IntelliNews

“We are pushing forward to create a sustainable concession, approximately 190 km north of Ghana ministry nominee under fire over dis-
and repeatable strategy to be a leading player the city of Port Said. In August 2019, produc- bursal of proceeds from GNPC drillship sale
in the energy sector and I am confident that tion from the field reached more than 2.7 bcf President Addo Dankwa Akufo-Addo’s nom-
through a disciplined approach, we will have (765 mcm) per day. As of December 31, 2021, inee for Trade and Industry Minister was grilled
the opportunities to deliver future growth as Eni’s proven reserves booked at the Zohr field in parliament last week over the sale in 2021 of a
we implement changes to the business for the amounted to 706mn barrels of oil equivalent Ghana National Petroleum Corp. (GNPC) asset.
benefit of our shareholders. The Board would (boe). Lawmakers questioned how Kobina Tahir
like to thank Daan for his support and dedica- bna/IntelliNews, 27 February 2023 Hammond, deputy energy minister at the time
tion and we wish him all the best in his future of the sale, allegedly disbursed some $900,000
endeavours.” stemming from the GNPC drillship sale.
SDX Energy, 01 March 2023 POLICY The government sold drill ship Discoverer
511, belonging to the Ghana National Petro-
Declining gas production Hungary will be able to leum Corporation (GNPC), to defray a $19.5mn
debt to France-based lender Société Générale
offshore Egypt lowers import LNG from Egypt (SocGen).
Following the submission of a report by the
Eni’s overall output by starting in 2026 Judgment Debt Commission set up to probe
Ghana’s judgement debts in 2015, the Economic
6% y/y in Q4 2022 Hungary will be able to import LNG from Egypt and Organised Crime Office (EOCO) was
starting 2026 as the Central European country charged to investigate Hammond.
Declining natural gas output from offshore Med- seeks to diversify its energy sources away from Apart from the drillship, the Minority cau-
iterranean fields operated by Eni lowered the Russia, the two country’s leaders agreed in cus in Parliament also expressed reservations
Italian oil and gas major’s overall natural gas pro- Cairo. Hungary could import LNG from Egypt about Hammond’s supposed lack of seriousness
duction by 6% year on year in the fourth quarter via Greece following the development of the in answering questions posed to him during the
(October-December) 2022, the company said in required infrastructure to guarantee its energy vetting process itself.
a press release. security. The caucus has vowed to ensure greater scru-
Egypt’s overall natural gas output fell to 6.5bn Late in 2021, Egypt, a major gas exporter, and tiny of nominees, but they will not subscribe to
cubic feet (184mn cubic metres) per day in the Greece agreed on expanding their co-operation a consensus vote at the Committee level. “This
third quarter (July-September) 2022 from a peak regarding LNG supply and on examining the will ensure that the matter is brought before the
of 7.2 bcf (204 mcm) per day. The company’s total possibility of constructing a subsea gas pipeline full House for a vote to be taken in secret,” the
natural gas production fell to 1,331mn cubic feet between the two states amid European countries’ Minority said in a statement.
(37.7 mcm) per day in the fourth quarter of 2022, keenness to diversify their energy sources. bna/IntelliNews, 27 February 2023
down from 1,414 mmcf (40 mcm) per day in the The two countries’ latest co-operation in the
same period in 2021 and 1,418 mmcf (402 mcm) energy field comes amidst extensive economic UOG encounters net oil pay
in the third quarter of 2022. ties developed over decades. Trade exchange
Eni is a key partner for Egypt, producing 60% between Egypt and Hungary amounted to in Alam El Bueib reservoir in
of its natural gas and owning a 50% stake in its $400mn in 2021. Hungarian exports to Egypt
Damietta LNG plant, one of the country’s two include machinery, electric generators, glass Abu Sennan licence
export terminals. Egypt is a major market for and organic chemicals. While Egypt exports
Eni, contributing a third of its total gas produc- cotton, fruits, vegetables, cement, fertilisers, UK-based United Oil and Gas (UOG), which
tion during the fourth quarter of 2022. carpets, ceramics and plastics. Also, Egypt is a has a 22% stake in Abu Sennan licence in the
Eni owns 50% stake and operates the giant major tourism destination, with around 40,000 Western Desert onshore Egypt operated by
Zohr natural gas field in the offshore Mediter- Hungarian tourists visiting the country in 2021. Kuwait Energy Egypt, has reported updated
ranean. Zohr is located within the Shorouk bna/IntelliNews, 01 March 2023 drilling results for the ASH-8 development well.

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