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AfrOil PIPELINES AND TRANSPORT AfrOil
EACOP will terminate in the Tanzanian port of Tanga (Image: AEC)
It hailed Magufuli’s support of the EACOP pipe- between China National Offshore Oil Corp.
line and noted that the late president had pre- (CNOOC) with 37.5%; Uganda National Oil
sided over the signing of an intergovernmental Co. (UNOC) with 15%, and Tanzania Petro-
agreement (IGA) on the project in 2017, as well leum Development Corp. (TPDC) with 5%.
as the signing of Tanzania’s host government Both Total and CNOOC are involved in
agreement (HGA) in 2020. developing the Kingfisher and Tilenga oilfields,
EACOP is slated to follow a 1,445-km path which will provide throughput for the pipeline.
from Hoima, a town in western Uganda, to These fields are due to begin production in
Tanga, a port on Tanzania’s coast. The pipe- 2025 and will eventually yield at least 260,000
line will be built by a consortium in which barrels per day of crude. EACOP will carry most
Total is serving as operator with a 37.5% stake. of the oil extracted from the fields, or around
The remaining equity in the group is divided 216,000 bpd.
INVESTMENT
Shell Egypt signs two exploration
agreements for Herodotus basin
EGYPT SHELL Egypt, a subsidiayr of Royal Dutch Shell is expected to last three years as well.
(UK/Netherlands) has signed two oil and gas The agreements were signed in line with
exploration agreements for sections of the off- Shell’s strategy of focusing its investments on
shore Herodotus basin, in a deepwater section high value-added natural gas projects in off-
of Egypt’s western offshore zone in the Mediter- shore and deepwater concession areas in Egypt’s
ranean Sea. western Mediterranean zone.
The two agreements cover exploration and This strategy reflects the major’s extensive
development work at the North Marina and experience in exploration and production at
North Cleopatra sites, in which Shell’s subsidi- deepwater oil and gas fields across many parts
ary BG Delta Ltd has 63% stakes. Noble Energy, of the world.
a subsidiary of Chevron (US), owns 27% of the According to Khaled Qassem, Shell’s chair-
licence areas, and the remaining 10% of equity is man in Egypt, the company is working to step
owned by Egypt’s Tharwa Petroleum. up its exploration activity in Egypt in particular
Shell expects to start conducting seismic in the hope of transforming the country into
studies over the entire 6,770-square km con- a regional energy hub. These efforts will help
cession area within three years of signing the Egypt attain its goal of promoting sustainable
agreement. Exploration and development work development, he added.
Week 13 31•March•2021 www. NEWSBASE .com P7
