Page 14 - AfrOil Week 26 2022

AfrOil PROJECTS & COMPANIES AfrOil

It was not immediately clear when Galp hoped interest in PEL 83 in 2016,” she said. “It is fan-
to begin drilling this well or whether it had tastic to see the activity and interest catch up
selected a target site. PEL consists of two adja- around us. We expect significant discoveries will
cent offshore sites – Block 2813A and Block continue to be made, on our blocks and on those
2814B. around us.” ™
Sintana is an indirect investor in two other
sites adjacent to PEL 83. One of these is PEL 90,
which lies directly west of PEL 83; the other is
PEL 87, which is north and northwest of PEL 87.
All of these blocks lie within the Orange Basin.
The Canadian company views the Orange
Basin as a promising frontier province. There
are good reasons for this. PEL 83 lies directly
north of PEL 39, the licence area where Shell
(UK) made a large oil discovery in the Graff-1
well early this year, while PEL 90 is directly north
of PEL 91, where TotalEnergies (France) made
an even larger find at the Venus-1x well.
Additionally, PEL 83 is directly west of Kudu,
a field already known to contain large quantities
of natural gas. Namibia has said it would like to
use this gas for a domestic gas-to-power (GTP)
project but has not been able to do so, leaving the
field a stranded asset for nearly 50 years.
Robert Bose, the president and CEO of Sin-
tana, commented: “Our entry into Namibia was
timely. We believe that continuing investment
in the Orange Basin, including the drilling of an
exploration well on PEL 83, will further substan-
tiate Namibia’s emergence as the world’s next
great hydrocarbon province.”
Knowledge Katti, the founder of Custos
Energy and a member of Sintana’s board, also
expressed optimism. “Custos acquired its PEL 83 lies directly west of the Kudu natural gas field (Image: Sintana Energy)

SJ Global Oil Trading to supply

petroleum products to Zimbabwe

ZIMBABWE A Zimbabwean company and its British partner, mining and manufacturing,” said King. “This
SJ Global Oil Trading, have started implement- year, directors of Line Petroleum and Unlimited
ing a $210mn agreement for the importation Africa Holdings have been invited to Dubai to
and distribution of petroleum products in the consummate and kickstart the deal of import-
southern African country, state-owned paper ing fuel and funding all projects to the tune of
The Herald reports. up to $244,4mn. An (initial) disbursement of
Harare-based Line Petroleum hopes to $54,6mn has been made.”
expand into neighbouring Democratic Republic The oil agreement is worth $210mn. With
of Congo, Zambia, Botswana and Malawi, said mining and manufacturing components of the
operations director Alistair Carl King. deal included, its value rises to $244mn. Line
SJ Global has already released $54.6mn for Petroleum, The Herald writes, has a fuel storage
the procurement of fuel under the joint ven- capacity of 50mn litres. It also distributes auto-
ture agreement originally signed in April 2021, motive and industrial lubricants, greases, clean-
he said. King is quoted as saying that vessels ers and degreasers and bitumen.
carrying the first consignment have left the Zimbabwe has a history of fuel shortage,
United Arab Emirates for Beira, Mozambique largely due to the scarcity of foreign currency to
where they will unload the fuel into a pipeline import it. The consultancy Devere Group says
to Zimbabwe. the country consumed about 1.2bn litres of fuel
“The signing and the arrangement covers a between January and November 2021, up from
number of areas, including importation of fuel, 1bn litres in 2020.

P14 www. NEWSBASE .com Week 26 29•June•2022