Page 9 - AfrOil Week 07 2022

AfrOil PERFORMANCE AfrOil

“Our 2021 CPR reconfirms the long-term the National Natural Gas Infrastructure (NNGI)
potential at Mnazi Bay, which continues to go pipeline, the largest gas transport link in East
from strength to strength having produced Africa, to transport their production northward
impressive volumes last year,” Wentworth’s CEO to Tanzania’s largest city, Dar es Salaam. ™
Katherine Roe said. “Our robust operations and
reserves potential will enable us to continue sup-
plying the people of Tanzania with a low-carbon,
sustainable energy supply while returning capi-
tal to shareholders through our progressive div-
idend policy for the long term.”
According to Wentworth’s interim results
report for 2021, the company’s revenues for the
first half of the year up to June 30 went up by 40%
to a best-ever $11.7mn, owing to record levels of
production at the Mnazi Bay gas field.
Equity in the Mnazi Bay joint venture is
divided between Maurel & Prom (France), the
operator, with 48.06%; Wentworth, with 31.94%;
and state-owned Tanzania Petroleum Develop-
ment Corp. (TPDC), with 20%. The partners use Mnazi Bay is in the Ruvuma basin (Image: M&P)

POLICY
Saipem says it will appeal Algerian court’s

conviction on Arzew LNG fraud charges

ALGERIA Italy’s Saipem said on February 15 that it in process since 2019, on February 14.
intended to appeal its conviction in an Algerian It noted that the tribunal had convicted
court on criminal charges of fraud related to the Saipem and two affiliated companies, Saipem
award of a contract in 2008 for the construction Contracting Algérie and Snamprogetti SpA
of the Arzew LNG plant. Algeria Branch, of using fraudulent means – that
In a statement, Saipem acknowledged that is, bribery – to obtain approval for its overpriced
the Tribunal of Algiers had reached a first-de- bid on GNL3 Arzew, as the LNG plant contract
gree decision on the fraud case, which has been was known.

Reactor unit at Arzew LNG plant, shown during construction stage (Photo: Mesit)

Week 07 16•February•2022 www. NEWSBASE .com P9