Page 8 - AfrOil Week 33 2022

AfrOil PIPELINES & TRANSPORT AfrOil

He was referring to the fact that both of the oil in line with the fund’s mandate. CEF has been
refineries in Cape Town are now sitting idle. charged with securing South Africa’s energy
Moagi went on to say that he expected SFF’s supply while also facilitating access to critical
investment in the terminal to spur the creation infrastructure and making fuel accessible at
of new jobs and economic opportunities. “In our affordable prices, he noted.
quest to transform the sector, SFF will also allow The Cape Town facility is capable of import-
the previously disadvantaged South Africans ing around 1.6bn litres per year of petroleum
who want to participate in the petrochemical products, equivalent to around 30% of available
business access to use the infrastructure,” he terminal infrastructure capacity in the area. Its
commented. storage tanks can hold around 86mn litres and
Dr. Ishmael Poolo, the CEO of CEF Group, are typically used to store gasoline, jet fuel, diesel
spoke similarly, saying that the acquisition was and kerosene. ™

INVESTMENT
Aker Energy puts Pecan project on hold due

to concerns about Russian shareholder

GHANA OEYVIND Eriksen, the CEO of Aker Energy He did not say how long it might take to sort
(Norway), said on August 17 that his company out the matter but told the Reuters news agency
had decided to postpone the development of the that Aker was holding discussions with Lukoil
Pecan oilfield offshore Ghana due to concerns and with the Ghanaian government about
about the possibility of incurring sanctions pen- potential remedies.
alties, since Russia’s Lukoil is participating in the One of the solutions under consideration
project. involves Lukoil selling its share and divest-
Eriksen explained during a conference call ing from the project, he noted, without saying
with analysts that Aker had opted to wait to sub- whether the Russian company had expressed
mit the development plan for Pecan to Ghanaian any willingness to follow this path.
authorities. The project will have to remain on Lukoil, Russia’s largest privately owned oil
hold until the challenges related to sanctions can company, has been a target of US sanctions since
be resolved, he said. the Russian seizure of Crimea in 2014.

Pecan is located within the DWT/CTP offshore block (Image: Aker Energy)

P8 www. NEWSBASE .com Week 33 18•August•2022