Page 17 - AfrOil Week 03 2023

AfrOil NEWS IN BRIEF AfrOil

The operations for Stena Forth in Egypt are Africa’s richest man, Aliko Dangote, the refinery
due to commence in 2023 upon completion of has a processing capacity of 540,000 barrels per
existing contractual commitments. The Shell day (bpd) of crude oil, and is designed to revo-
exploration project will entail three wells in the lutionise the country’s petrochemical industry.
Mediterranean. The project will require Man- As things stand, much of Nigeria’s oil is
aged Pressure Drilling (MPD) utilising the sys- refined elsewhere and reimported for use. The
tem owned and installed by Stena Drilling on the Dangote Refinery aims to turn Nigeria into a net
Stena Forth. exporter of petrochemicals and refined petro-
Stena Drilling is delighted to secure further leum products by 2026.
work with Shell and looks forward to working Once working, it will be able to supply all of
with Shell to complete a safe, effective and effi- Nigeria’s needs for refined products and have a
cient campaign. surplus left over for selling abroad.
Stena Drilling, 16 January 2023 The facility is expected to produce 3bn stand-
ard cubic feet of gas, 65 mn litres of premium
Nigeria to begin drilling motor spirits, 15mn litres of diesel and 4mn
PROJECTS & COMPANIES metric tonnes of jet fuel each day.
bna/IntelliNews, 13 January 2023
Chevron, Eni discover for first time in Nassarawa Addax exercises option
Nigerian National Petroleum Co. Ltd (NNPCL)
gas in Nargis-1 well is set to begin drilling the first ever oil well in to purchase FPSO Adoon
Nassarawa State.
exploration offshore Egypt NNPCL, the company will begin drilling its first
According to Mallam Mele Kyari, CEO of
A significant new natural gas discovery was oil well in the state in March 2023. from Yinson
made at the Nargis-1 exploration well located in Kyari’s announcement came during a visit of Yinson Production has successfully completed
Nargis Offshore Area Concession in the Eastern Nassarawa State officials, when he confirmed the the 16-year contract for FPSO Adoon, which
Mediterranean, north of the Sinai Peninsula, presence of substantial hydrocarbon resources in has been operating at Block OML 123 offshore
Egypt. Nargis Offshore Area Concession is the area. Nigeria.
operated by US oil major Chevron Holding with The CEO also acknowledged the importance The contract had an original period of 8 years
a 45% interest in partnership with Italy’s Eni, of community support and a favourable operat- until 2014 with the option to extend by up to 8
which has a similar 45% interest through its sub- ing environment for the success of the project, more years until 2022. The contract was further
sidiary IEOC Production BV, with the remaining which has previously been a stumbling block for extended by client Addax Petroleum Develop-
10% interest held by Egypt’s Tharwa Petroleum. the growth of oil production in other reasons of ment (Nigeria) through consecutive monthly
The Nargis-1 well has encountered approx- Nigeria. By prioritising community engagement extensions until January 2023.
imately 61 metres of Miocene and Oligocene and ensuring a sustainable approach to oil pro- Addax exercised its contractual option to
gas-bearing sandstones and was drilled in 309 duction, NNPCL hopes to avoid similar issues in purchase FPSO Adoon at the end of the contract
metres of water by the Stena Forth drillship, Eni Nassarawa State. period and the sale was completed on January
said in a statement. The discovery can be eas- Kyari also noted that NNPCL must work 11, 2023.
ily developed leveraging Nargis-1 well’s prox- quickly in face the face of a international reduc- FPSO Adoon was constructed by YP’s prede-
imity to Eni’s existing facilities in the offshore tion in investment in fossil fuels. cessor company, Fred. Olsen Production ASA,
Mediterranean. “This work must be done very fast because for Addax and commenced operations in Octo-
Eni has been present in Egypt since 1954, the whole world is walking away from fossil fuel ber 2006. Since the commencement, the asset
where it operates through IEOC. The company is due to the energy transition. The earlier you go has provided safe and reliable operations to the
currently the country’s leading producer with an to market, the better for you,” Kyari said. “Oth- client with an average technical uptime above
equity production of hydrocarbons of approxi- erwise, 10 years from now, no one will agree to 99.9% and no Lost Time Injuries (LTIs) for the
mately 350,000 barrels of oil equivalent per day put money in the petroleum business except it last 11 years.
(boepd). The company was recently awarded the [coming] from your cash flow.” FPSO Adoon has produced over 212mn bar-
exploration blocks North Rafah, North El Fay- bna/IntelliNews, 16 January 2023 rels of oil, and clocked more than 6mn offshore
rouz, North East El Arish, Tiba and Bellatrix-Seti manhours over its contract tenure.
East. Dangote Refinery to Flemming Grønnegaard, CEO, said: “It fills
bna/IntelliNews, 16 January 2023 us with pride to know that FPSO Adoon has
been able to contribute significantly to Nigeria’s
Stena Drilling signs be commissioned on energy landscape for the past 16 years, positively
January 24
impacting the local economy and wellbeing of
contract with Shell to Nigeria’s President Muhammadu Buhari is due by our passionate team at Port Harcourt, with
the community. This has been made possible
drill offshore Egypt to officially commission the Dangote Refinery, unwavering support from our client Addax, the
the largest vertically integrated petrochemical regulatory bodies in Nigeria and the local com-
Stena Drilling has signed a new contract with BG complex in the world, on January 24. munity and supply chain. Deepest appreciation
Delta and BG International subsidiaries of Shell The facility, located in Lagos’ Lekki Free to everyone who played a part in FPSO Adoon’s
for the Mobile Offshore Drilling Unit (MODU) Zone, is a $19bn project that has been in the success story.”
Stena Forth. making for several years. Owned and funded by Yinson, 12 January 2023

Week 03 19•January•2023 www. NEWSBASE .com P17