Page 15 - AfrOil Week 38 2021

AfrOil NEWS IN BRIEF AfrOil

“The Sangomar field is expected to be Senegal’s
first offshore oil development. I believe any sup-
plier would be proud to be involved with such an
important project for a developing nation,” says
Hans Petter Tanum, TMC’s director of sales and
business development.
TMC’s marine compressed air system for
the Woodside Sangomar FPSO will consist of
large-capacity service and instrument air com-
pressors with associated air dryers and filters.
TMC has not disclosed the value of the contract.
The marine compressed air system will be
manufactured in Europe and delivered to COS-
CO’s shipyard in Dalian, China.
Once completed, the FPSO will be deployed
at the Sangomar (formerly SNE) field, located Micro-LNG facilities provider on Lease to Own target by December 2021.
approximately 100 km south of Dakar, Senegal. facilities and Operations and Maintenance con- Auwalu made the disclosure when he led a
MODEC is responsible for supplying the FPSO, tract; Advancement of Phase 2 pipeline develop- delegation of DPR management team to the
while Woodside is the operator of the Sangomar ment discussions on long term take or pay gas Executive Secretary of Petroleum Technology
field development. sales agreement. Development Fund (PTDF), Bello Gusau, in
“When vessels operate far from shore, oper- Exploration and growth. Post period Anoual Abuja on Wednesday. He said that 70% of the
ators want the most reliable equipment. Our exploration permit extended for a further revenue projection had already been met.
marine compressed air system is designed spe- year; Post period completion of acquisition of “Last year, we exceed our revenue budget. We
cifically for offshore and marine use and to allow Schlumberger Silk Route Services. were given NGN1.5 trillion [$3.62bn] but we
the crew to conduct equipment maintenance Corporate. Successful restructuring of were able to generate NGN2.7 trillion [$6.52bn].
themselves. This is a key reason for why our sys- €28.8mn corporate loan notes in April 2021; This year, our revenue budget was NGN 3.2 tril-
tem is favoured by the majority of the leading Reduction in administrative expenses by lion [$7.72bn]. By the end of August 2021, we
international FPSO operators,” adds Tanum. approximately 40% compared with 2020; have generated up to 70%. So, we with Septem-
Scheduled for delivery in early 2023, the Receipt of circa €183,000 first payment for dis- ber, October, November and December, it is only
FPSO will be permanently moored at a water posal of Badile land in Italy; Post period equity the 30% that we will work over,” he said.
depth of approximately 780 metres. She will be subscription by Afriquia Gaz of £2.0mn. He noted that government took advantage of
capable of processing 100,000 barrels per day Graham Lyon, Executive Chairman, said: fiscal terms within the old and new legislation,
(bpd) of crude oil, 130mn cubic feet per day “A huge amount of work has been completed thereby creating a level of increased signature
(3.68mn cubic metres) of gas, 145,000 bpd of so far this year and much remains to be con- bonuses. “We reorganise the work programme
water injection and will have minimum storage cluded during the remainder of 2021. Having that is normally being done in the DPR to key
capacity of 1.3mn barrels of crude oil. secured a long-term LNG sales agreement with into the new operational structure as we see it
TMC is a global supplier of compressed air Afriquia Gaz, we have established a route to in the bill, now an act. That programme is being
systems for marine and offshore use. The com- market for our gas and following completion of handled by the planning and strategic business
pany is headquartered in Oslo, Norway. the proposed $18mn loan from Afriquia Gaz, unit as against what we use to have, because the
TMC Compressors, September 21 2021 the Company will have financing for the Sound entire work programme is supposed to show not
Energy share of the Phase 1 development. With only technical, but also commercial and viability
important catalysts to come in the near term, I of oil fields and to guarantee the return on invest-
PERFORMANCE look forward to updating shareholders further ment for investors. We have also created an eco-
as we progress towards the development phase nomic value and benchmarking unit to key into
Sound Energy announces of the project and to becoming a revenue-gener- the new fiscal provisions of the PIA,” he said.
Commenting on capacity, Auwalu said the
ating business. I would like to thank all our staff,
half-year report contractors, partners, noteholders, shareholders country stands at the advantage of exporting
and other stakeholders for their commitment skills to emerging oil and gas countries across
Sound Energy, the Moroccan focused upstream and support. I feel confident that Sound Energy Africa with proper implementation of the newly
gas company, has announced its unaudited half- is moving in the right direction and is building a passed Petroleum Industry Act (PIA). This, he
year report for the six months ended June 30, business that will deliver real value for our inves- said, the DPR was ready to partner with the Fund
2021. tors by playing our part in fueling the energy to continue to build capacity in the oil and gas
Highlights: Development of the Tendrara transition.” sector
Production Concession. Advancement of Phase Sound Energy, September 16 2021 He noted that the Federal Government was
1 Micro LNG engineering and commercial gas determined to create leeway that would encour-
sales contracts; Post period execution of condi- DPR targets NGN3.2 trillion age investors and drastically improve the nation’s
tional LNG sales agreement with Afriquia Gaz; petroleum industry. He further noted that no
The agreement covers a 10-year Take-or-Pay revenue by December 2021 fewer than 300 legal battles in the oil and gas
LNG sale and purchase at Tendrara; Advanced industry in Nigeria, which had been stalled for
negotiation on $18mn loan from Afriquia Gaz, The Director/CEO of Department of Petroleum the past 20 years in courts, had been resolved
a condition precedent, to be satisfied by October Resources (DPR), Sarki Auwalu, says the depart- through alternative dispute resolution.
29, 2021; Progressed discussions with Italfluid, ment will hit NGN3.2 trillion ($7.72bn) revenue NAN, September 16 2021

Week 38 22•September•2021 www. NEWSBASE .com P15