Page 6 - AfrOil Week 26 2022

AfrOil PIPELINES & TRANSPORT AfrOil

Sasol completes sale of 30%

stake in ROMPCO gas pipeline

MOZAMBIQUE/S. AFRICA CHEMICALS and energy group Sasol South pipeline under a separate agreement.
Africa Ltd. (SSA) announced on June 29 that “Sasol’s agreements with ROMPCO to
it has completed the sale of a 30% stake in transport gas to Secunda are unaffected by the
a pipeline that transports natural gas from transaction and the tariffs remain as per the
Mozambique to South Africa, to state-owned said agreements, which were approved by the
entities from both countries for up to ZAR5.1bn National Energy Regulator of South Africa
($317mn). The deal will bring SSA’s equity stake (NERSA),” the company said in a June 29
in the pipe down from 50% to 20%. statement.
The pipeline in question is the ROMPCO “This transaction marks the completion of
link, which runs from the Pande and Temane the major transactions in Sasol’s accelerated,
gas fields in Mozambique to Secunda in South strategy-aligned, asset divestment programme
Africa. It is operated by the Republic of Mozam- announced in March 2020,” it added. “Sasol
bique Pipeline Investments Co. (ROMPCO) remains fully committed to its integrated nat-
venture and allows SSA to make use of the gas at ural gas business in Southern Africa, which is
its South African facilities. integral to Sasol’s long-term strategy.” ™
SSA had originally planned to sell a 30%
stake in ROMPCO to a group of investors that
included a unit of Old Mutual Ltd, a South Afri-
can financial services firm. In June 2021, though,
iGAS, a subsidiary of Johannesburg-based
Central Energy Fund SOC Ltd (CEF), together
with Companhia Mocambiçana de Gasoduto
(CMG), a subsidiary of Empresa Nacional de
Hidrocarbonetos EP (ENH), announced their
intent to exercised their pre-emptive right to
acquire the stake.
CEF is a Schedule 2 diversified energy com-
pany, while ENH is the national oil company
(NOC) of Mozambique.
SSA said in its statement that the sale price
included an initial sum of ZAR4.1bn and a
deferred payment of up to ZAR1 bn, subject to
agreed milestones. It also stated that it would
retain a 20% shareholding in and would con-
tinue to operate and maintain the ROMPCO Sasol is developing the Mozambican fields that fill the pipeline (Image: ROMPCO)

INVESTMENT
NUPRC: Nigeria raises $482mn from

issuance of licences for marginal oilfields

NIGERIA NIGERIA has raised more than NGN200bn were originally put up for bids. According to the
($482mn) from the issuance of oil prospect- NUPRC, over 70% of the awardees have fully
ing licences for marginal fields, the Nigerian paid for their licences.
Upstream Petroleum Regulatory Commission Marginal fields are located onshore or in
(NUPRC) revealed on June 28. shallow waters and are typically given to local
The licences, offered for 57 separate mar- businesses rather than large international oil
ginal fields, were awarded two years after bids companies (IOCs).

P6 www. NEWSBASE .com Week 26 29•June•2022