Page 10 - AfrOil Week 25

AfrOil PRojECts & ComPanIEs AfrOil
Anchois looks viable for Chariot
moRoCCo
LONDON-LIStED Chariot Oil & Gas continues its reorientation away from deepwater frontier exploration and to small-scale gas production in Morocco. e company, in a statement on June 18, said it had completed a development feasi- bility study and gas market assessment on the Anchois eld, on the Lixus licence.
“ e results of these studies demonstrate the technical feasibility and commercial attractive- ness of developing the Anchois gas discovery with the potential to o er a strategically impor- tant indigenous source of gas into Morocco’s developing energy market,” said Chariot’s CEO, Larry Bottomley.
He went on to note the lack of risk on the resource and the country’s growing demand, “with high gas prices and a need for increased supply [remaining] highly attractive to a wide range of potential strategic partners throughout the energy value chain”.
Chariot has begun work on a drilling envi- ronmental impact assessment, ahead of planned appraisal work in 2020. Initial work has focused on reprocessing seismic data.
e company’s study found that developing the eld was technically feasible. Development could consist of subsea production wells, tied to a subsea manifold, with a owline and umbili- cal connecting the eld to an onshore central processing facility (CPF). is would process
the gas, which would then be exported into the Gazoduc Maghreb Europe (GME) pipeline.
Chariot said it could re-enter Anchois-1 – the original discovery – which could be completed as a producer well.
e company was awarded a 75% stake in the block in April, with the remaining equity held by the O ce National des Hydrocarbures et des Mines (ONHYM), Morocco’s state-run energy company. e Anchois discovery cov- ers 8.7 bcm of 2C contingent resources, with a deeper potential target not penetrated by the original well. e well was drilled in 2009, by Dana Petroleum.
the licence covers 2,390 square km, with additional exploration opportunities available. Chariot has said it would seek strategic partners to work on the Anchois development.™
Addax re-ups Nigerian FPSO
nIgERIa
CHINESE-OWNED Addax Petroleum has opted to extend the charter for a oating produc- tion, storage and o oading (FPSO) vessel o - shore Nigeria, with Malaysia’s Yinson Holdings.
Yinson, announcing the contract on June 18, said it would run for four years, until mid-Oc- tober 2022. It begins retrospectively, dated mid-October 2018. e FPSO Adoon contract is estimated to be worth US$137.5 million, from last week. Yinson appears to have secured improved pricing under this recent agreement.
e two sides have been extending the char- ter on an interim basis for some time. In May, Yinson said it had received an extension for a month, valued at US$3.18 million.
e original contract was awarded in October 2006, running for eight years. It was extended in October 2014, for one year, at a cost of US$39 million.
e unit has been working for all this time on the Antan eld, on OML 123. It has throughput capacity of 60,000 barrels per day (bpd) and can store 1.7 million barrels.
Work on the Antan field was flagged up as a concern by Deloitte in October 2016. e accountants found potentially problematic pay- ments to an engineering company for work on the Antan and Udele-Ofrima elds.
In February, Yinson said it had won work from First Exploration & Petroleum Devel- opment on the provision of an FPSO for the Anyala and Madu elds, also o shore Nigeria. is work carries a total price tag of US$901.8 million, of which US$617.1 is for the bareboat charter and the remaining amount for the pro- vision of operation and maintenance work on the vessel.
is FPSO is due to begin work in the fourth quarter of this year and the initial contract will run for seven years. ere are options for more time.
e FPSO on the Anyala and Madu elds was previously working in Gabon, on the Olowi eld. is halted operations in January.
Yinson also provided the FPSO for Eni’s operations in Ghana.™
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w w w . N E W S B A S E . c o m Week 25 25•June•2019