Page 17 - AfrOil Week 14 2021

AfrOil NEWS IN BRIEF AfrOil

MGGS has been mandated to manage and Petroleum and Gas, Contract negotiation with Industry to thrive.
license the database, which includes both legacy the winners of the bid-round, Signature. DPR, March 31 2021
data from previous operators and more recent African Energy Chamber, April 3 2021
work conducted on the shallow oil and reser-
voirs. The new information has been utilised in Tullow completes sale STANDARDISATION
a review of the existing wells and various repro-
cessed seismic packages, then linked into possi- of assets in Equatorial API, African Energy Chamber
ble commercial development concepts.
GeoPartners, April 06 2021 Guinea to Panoro Energy sign first MoU on expansion
ANPG outlines new timeline Tullow Oil has announced that the sale of its of oil and gas industry
assets in Equatorial Guinea to Panoro Energy
for ongoing bid-round has now completed. Tullow has received a pay- standards and initiatives
ment of $88.8mn from Panoro.
Angola’s National Oil, Gas and Biofuel’s Agency As previously disclosed, this transaction The American Petroleum Institute (API) and the
(ANPG) has outlined its timetable for the eval- also includes contingent cash payments of up to African Energy Chamber (AEC) have signed a
uation of its ongoing 2020 bid round, as interest $16mn which are linked to asset performance Memorandum of Understanding (MoU) to
in the acreage on offer continues to grow. In line and oil price. The closing of this transaction collaborate on capacity building initiatives and
with its statutory duties as national concession- follows the satisfaction of all completion con- standardisation to enhance safety, environ-
aire in charge of the attribution of petroleum ditions, including the approval from the Gov- mental protection, and sustainability in African
exploration blocks, the ANPG has sought to ernment of Equatorial Guinea and Tullow and countries producing natural gas and oil.
adjust its processes to remain competitive in Panoro shareholders and other customary third- “API is pleased to collaborate with the AEC
the current market environment, which is party approvals. to expand use of our world-class standards and
dominated by concerns around COVID-19, Although Tullow will continue to have a programs to help enhance the safety, transpar-
long-term demand considerations and stiff com- financial link to the assets in Ceiba and Okume ency and sustainability of natural gas and oil
petition from new and promising frontiers like fields, the closing of this transaction marks operations across the African continent,” API
Guyana and Suriname. Tullow’s exit from its licences in Equatorial Segment Standards and Services Vice President
The ongoing bid-round is a manifestation of Guinea after 18 years. On receipt of funds, Alexa Burr said. “This is our first partnership
Angola’s strategy for the continuous attribution Tullow has net debt of c. $2.3bn and liquidity with an African-based organisation, and we
of petroleum concessions 2019-2025 which was headroom of c. $1bn. look forward to supporting AEC’s efforts to drive
approved and codified by Presidential Decree The sale of the Dussafu Asset in Gabon to industry-wide technical knowledge.”
no. 52/19, of February 18, 2019. The aim of the Panoro is expected to complete in the second The number of petroleum-producing coun-
strategy is to provide access to promising acreage quarter of 2021. A further $5mn consideration tries in Africa has increased substantially, coin-
to competent explorers in an effort to increase is due be paid to Tullow after both transactions ciding with a movement across the continent to
geological knowledge about Angola’s hydrocar- with Panoro have completed. enact robust, equitable and imminently more
bons potential and ultimately increase proven Tullow Oil, April 01 2021 transparent policies. This continent-wide pur-
reserves. suit to increase the technical capacity of local
A hybrid online and physical roadshow for organisations is of paramount importance in
the current bid-round is scheduled for April 12 MOVES these natural gas and oil economies. It will be
in at the Talatona Convention Centre in Luanda. vital for public and private representatives of
This event will provide the opportunity for DPR promotes six African host economies to work with the inter-
investors to engage with the agency regarding national petroleum industry and help ensure the
the blocks on offer, the data packages and the deputy directors to developmental needs of the local markets are
accessibility studies, as well as touch upon envi- met while maintaining policies that allow for oil
ronmental, logistical and local content issues. fill vacant positions sector investment in these economies and accel-
This will kickstart a series of both digital erating the adoption of industry practices that
and in-person roadshows and technical pres- The Department of Petroleum Resources (DPR) enhance safety and environmental protection.
entations to promote the blocks to be awarded has promoted six deputy directors to fill vacant African Energy Chamber, March 31 2021
in key international markets. The acreages on positions in the regulatory agency. Paul Osu,
offer include: Three blocks of the lower Congo Head of Corporate Affairs, DPR, confirmed the
onshore Basin CON1, CON5 and CON6; Six promotion of the deputy directors in a statement
of the Kwanza onshore Basin (KON5, KON6, issued on Tuesday in Lagos.
KON8, KON9, KON17 and KON20). Osu said the promotions followed the retire-
In line with the provisions of Presiden- ment of various officers across several units, in
tial Decree No. 86/18, of 2 April 2019, which line with the Public Service Regulations. He said
establishes the rules for the organisation of bid the promotions were in line with the Federal
rounds, the ongoing 2020 bid round will unfold Government’s desire to reorganise the Depart-
as follows: Tender Launch, Proposal submission, ment for better service delivery in line with inter-
The opening of offers from potential suitors in a national best standards.
public setting, The evaluation and qualification He said the DPR remains committed to
of proposals, The submission of the evaluation its mandate of creating an enabling environ-
report to the Ministry of Mineral Resources and ment for businesses in the Nigeria Oil and Gas

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