Page 17 - AfrOil Week 47 2022

AfrOil NEWS IN BRIEF AfrOil

business new africa bna/IntelliNews

Reach Subsea awarded

significant contract

offshore Africa

Reach Subsea, the trusted data and subsea ser-
vice provider for ocean-based industries, has
signed a conditional LOA for a significant pro-
ject in West Africa (WAF), through which Reach
Subsea will be a sub-contractor to a major tier-
one contractor.
The assignment encompass support for
installation and anchoring of an offshore unit,
which implies a valuable broadening of Reach
Subsea’s spectrum of services. Included in the
scope are significant survey and positioning
tasks to be undertaken by Reach Subsea subsidi-
ary iSurvey. The project will be initiated towards
late Q1 2023, and is expected to last well into Q2
2023.
With this cLOA, and including several other Gambia. north-east for the first time ever, following a
recent contract awards and extensions, Reach PetroNor and Gambia National Petroleum decline in production in the south of the country.
has won contracts with an expected value of Corp. (GNPC) have also signed a Joint Oper- Oil production in Nigeria began in the 1960s,
approx. NOK 300mn in the period since the Q3 ating Agreement (JOA) for the A4 Licence off- in the country’s Niger Delta region, but focus is
2022 report. shore Gambia. GNPC, as Government licensee, now turning to the north.
‘We experience a solid market for subsea has been assigned a 10% participating interest in According to President Muhammadu Buhari,
services. This significant contract improves our the license. who visited the Kolmani field in the north-east,
order backlog considerably and is evidence of The JOA defines the operational boundaries there are an estimated 1bn barrels of crude at that
the strong value proposition of our complete and of the PetroNor-GNPC relationship. site alone.
integrated offering - including survey and posi- The terms of the PEPLA have been amended “The successful discovery of the Kolmani Oil
tioning services delivered by our new colleagues to allow the Company to phase commitments via and Gas field by [Nigerian National Petroleum
in iSurvey. It confirms our ability to successfully an extended Initial Exploration Period of three Co. Ltd, or NNPCL] and her partners has finally
compete for a broad range of complex assign- years, which is split into two phases of 18 months broken the jinx,” Buhari said in an inauguration
ments across the globe,” said CEO of Reach Sub- each. This allows time for additional de-risking speech, referring to the “jinx” of finding a viable
sea Jostein Alendal. technical work prior to commitment to explo- commercial site for oil and gas production out-
Reach Subsea will charter a hybrid powered ration drilling in the second phase. Signature of side the Niger River Delta.
AHC/offshore construction vessel, mobilized the PEPLA commits the Company to a signature The new project has already received $3bn in
with a work class ROV for the project. The pro- bonus of $1mn and a minimum work program investment.
ject has been awarded based on a strategic coop- of $1.5mn in the first 18-month phase. PetroNor As well as drilling, the project will include a
eration with key stakeholders for delivering high will have the option to continue the licence after refinery, gas processing unit, a power plant and a
quality engineering and vessel solutions to the the first phase and commit to drilling a well in fertiliser factory, according to Buhari.
floater installation market. the following 18-month phase. Nigeria has long relied on oil revenues for the
Reach Subsea, November 22 2022 “The PetroNor exploration team have been country’s budget. In resent years, oil production
consistent and passionate advocates for the has dropped significantly due to, amongst other
PetroNor E&P renews potential of this part of the Atlantic margin. It is things, rampant theft. This far in 2022, the coun-
the Company’s strategy to form a strong partner-
try has failed to meet its OPEC quota.
A4 Licence offshore ship with others to explore the identified pros- bna/IntelliNews, November 23 2022
pects. Encouraging interest received from third
The Gambia parties has supported our discussions with the Shelf Drilling announces
government of The Gambia to phase commit-
PetroNor E&P has provided an update regarding ments and help make the licence more attractive contract extension on the
its A4 licence option in The Gambia. as a farm-in opportunity. It is our shared objec-
On October 19, 2022, PetroNor announced tive that these efforts will lead to a future drilling Shelf Drilling Tenacious
that it had received, from the Government of programme,” says interim CEO, Jens Pace.
The Gambia, a 30-day extension to the longstop PetroNor E&P, November 18 2022 Shelf Drilling has secured an extension on the
date of the licence option. Following positive Shelf Drilling Tenacious jack-up rig in direct
discussions with the Government, PetroNor Nigeria to drill for oil in continuation of its current contract for drilling
has announced that it has decided to exercise operations offshore Angola until November
its right to continue with the Petroleum, Explo- north-east for first time 2023. The contract includes an additional one-
ration, Development and Production Licence year option.
Agreement (PEPLA) for the A4 licence in The Nigeria has started drilling in the country’s Shelf Drilling, November 21 2022

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