Page 14 - AfrOil Week 39 2021

AfrOil PROJECTS & COMPANIES AfrOil

Aminex did not specify the value of the contract Aminex is the original leader of the Ruvuma
but said that the Ruvuma partners had benefited project, but in October 2020 it concluded a
from “favourable market conditions.” It also said farm-out agreement with ARA Petroleum Tan-
it had “[secured] a lump-sum contract consid- zania (APT), a subsidiary of ARA Petroleum
erably below the joint venture’s expected budget of Oman. APT and Aminex are now working
for the activity.” together in a joint venture that provides for the
Charlie Santos, the executive chairman of former to carry the latter’s 25% participating
Aminex, described the seismic survey contract share of associated field development costs, or
award as a sign of progress toward development up to $35mn of estimated total development
of Ntorya, the largest field within the joint ven- expenditures of $140mn. ™
ture’s licence areas. “We are delighted that the
seismic contract has been awarded and that
seismic acquisition operations on the ground
are scheduled to commence shortly,” he said.
“This award marks an important development
for the Ruvuma project. APT has made quick
progress completing the procurement process
and securing highly competitive acquisition
rates that benefit the project with considerable
financial savings.”
Santos also commented that the Ntorya pro-
ject was “now entering a period of operational
activity through the acquisition of 3D seismic
and well execution, [which] represent major
steps towards monetising this large gas resource
into existing infrastructure and an established
market in Tanzania.” Ntorya is the block’s biggest gas field (Image: Aminex)

South Africa forges ahead with

South Sudan oil investment deal

S. AFRICA/S. SUDAN SOUTH Africa’s is expected to kick off a $1bn building a refinery and pipelines, and the money
investment programme for South Sudan’s oil will also go towards oil exploration and training
industry in November. of workers and engineers. Radebe promised in
Bloomberg reported this week that South 2019 that the planned refinery would be able to
African planned to enter South Sudan in process 60,000 barrels per day (bpd) of oil.
November this year, in line with the deal signed The US$1bn investment will be spread out
between the two countries in 2018. A South over 10 years. Under the agreement, which
Sudan official told Bloomberg that the corona- includes a six-year exploration period, South
virus (COVID-19) pandemic had delayed South Africa’s SFF, alongside Nilepet, will launch a
Africa’s participation. comprehensive aerogravity survey exploration
The deal was struck in 2018 under South campaign, seismic acquisition and drill wells
Africa’s former energy minister Jeff Radebe. with great prospectivity.
He signed off on a Exploration and Production The SFF will also invest in capacity building
Sharing Agreement (EPSA) between the two initiatives, training of South Sudanese citizens,
nations in late 2019. social and community development projects
At the time, South Africa’s energy depart- and ensuring local content and the empower-
ment said the deal was strategic for South Africa ment of women.
as an energy consumer and denied media The agreement was the second EPSA signed
reports that the deal was shrouded in secrecy. since South Sudan gained independence in 2012
According to the agreement, South Africa but was widely expected to be the most profita-
invested in Block B2, which will be operated by ble to the new nation.
South Africa’s state-owned Strategic Fuel Fund South Sudan is an established petroleum
(SFF), the South Sudan’s Ministry of Petroleum producing region, but years of conflict have
and Nilepet, the national oil company (NOC) of troubled the new nation. Its territory includes
South Sudan. a large part of the Cretaceous rift basin system
Currently, South Sudan is short on refining that has proved to contain oil in Chad and Niger
capacity. But South Africa has committed to as well as Sudan. ™

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