Page 16 - AfrOil Week 38 2021

AfrOil NEWS IN BRIEF AfrOil

INVESTMENT was required to ensure an in-depth analysis of clean, affordable power.
all submitted investment proposals for the Lower Under the Biden Administration, the US has
Tower Resources provides Congo and Kwanza onshore Basins. made clear its commitment to supporting devel-
According to ANPG, the tender results will oping countries in their own pursuit of low- or
Cameroon farm-out update ignite oil and gas onshore exploration and pro- zero-carbon economies.
The USAEF is proud to partner with the
duction activities in Angola and boost overall oil
Tower Resources, the AIM-listed oil and gas production in the country. African Energy Chamber, Texas-West Africa
company with its focus on Africa, has announced Energy Capital & Power, September 21 2021 Chamber of Commerce, Rystad Energy, Oil and
that the documentation of its farm-out to Beluga Gas Global Network, United States Energy Asso-
Energy of a 49% non-operating working inter- ciation, and Kanflooens, alongside the Nigerian
est in its Thali Production-Sharing Contract EVENTS Gas Association.
(PSC) in Cameroon, conducted through its Energy Capital & Power, September 22 2021
wholly-owned subsidiary Tower Resources Nigerian Gas Association
Cameroon SA (TRCSA), is now finalised, and
the package of documents is being submitted to to promote gas-focused LOCAL CONTENT
the Minister of Mines, Industry and Technolog-
ical Development (MINMIDT) today as per the agenda at USAEF 2021 NCDMB moves to develop oil
Cameroon Petroleum Code.
Completion of the farm-out is still subject to Energy Capital & Power (ECP) is excited to and gas park in Ondo state
two conditions precedent: the financing contin- announce its partnership with the Nigerian
gency requiring Beluga’s shareholders’ approval Gas Association (NGA) to promote gas devel- The Nigerian Content Development and Moni-
and the MINMIDT approval. The Company will opment and monetisation opportunities to toring Board (NCDMB) has commenced activ-
notify the market when both conditions prece- American investors at the first-ever US-Africa ities to develop an oil and gas industrial park in
dent have been met. Energy Forum (USAEF) 2021 (December 9-10; Ilaje, Ondo State under its Nigerian Oil and Gas
Jeremy Asher, Chairman and CEO, com- Houston, Texas). Park Scheme (NOGaPS).
mented: ‘”We cannot be sure how long the MIN- Ed Ubong, President of the NGA and Man- A team from the Board recently visited the
MIDT approval may take as it can be as long as aging Director of Shell Nigeria Gas, will attend site with the Ondo State Government Officials
60 days, but we hope it will come much sooner, and speak at the event, offering insights into and to assess the location of the proposed oil and gas
allowing us to complete the farmout sooner. But opening up the conversation on West African park in Ilaje area of the state. This is the sixth oil
in the meantime, we are moving forward with gas utilisation. The NGA represents the largest and gas industrial park under the portfolio of
contract discussions regarding the rig and ser- gas-focused, corporate and individual-mem- NOGaPS aimed at creating low-cost manufac-
vices, subject to the MINMIDT approval and ber organisation, established to promote the turing hubs that will produce equipment compo-
conclusion of the farmout in due course.” advancement of Nigerian natural gas as the pre- nents and spare parts to be utilised in the nation’s
Tower Resources, September 21 2021 ferred energy source in the country. oil and gas industry.
“The Nigerian gas value chain offers a series of The Executive Governor of Ondo State,
ANPG 2020 bid round results integrated foreign investment and export oppor- Rotimi Akerodolu (SAN) and his Deputy, Lucky
tunities for US entities, and the NGA is excited Aiyedatiwa later received the team at the Gov-
announcement rescheduled to promote these opportunities at USAEF 2021,” ernment House in Akure, wherein the Governor
said the NGA’s Executive Secretary, Taji Ogbe. promised to provide full support for the timely
to end of September “Sitting on over 200 trillion cubic feet [5.66 tril- realisation of the project in the state. Governor
lion cubic metres] of natural gas, Nigeria has Akerodolu commended the NCDMB for its
Angola’s National Agency for Petroleum, Gas, been increasingly active in spearheading large- efforts and for selecting Ondo as the next state in
and Biofuels (ANPG) has rescheduled the scale LNG and gas utilisation projects aimed its NOGaPS development.
announcement of the 2020 bid round winners at monetising abundant reserves, diversifying The development of oil and gas industrial
to September 27. The Agency stated on its web- energy sources, reducing gas flaring practices parks dedicated to in-country manufacturing
site that an extension of the announcement date and creating gas-based industries.” and value addition is part of NCDMB’s drive
“With the confirmation and participation to deepen Nigerian Content in the Oil and
of the NGA, we can expect further engagement Gas Industry. The parks form a huge part of
with Nigerian companies, entities and pro- NCDMB’s 10-year Strategic Roadmap aimed at
ject developers. As the leading oil producer in increasing the Nigerian Content level in the oil
sub-Saharan Africa, Nigeria’s presence at USAEF and gas industry to 70 per cent by 2027.
2021 will help reflect the magnitude of invest- Two of the industrial parks in Emeyal 1,
ment opportunities within West African energy Bayelsa State and Odukpani, Cross Rivers States
markets and on the continent as a whole,” said are at advanced level of construction and are
James Chester, Senior Director at ECP. scheduled for commissioning before the end of
In recent years, the African natural gas value 2022.
chain has become the preferred destination for NCDMB is also developing the Oil and Gas
foreign direct investment – not only because Park project in Oguta in Imo State, Ikwe, Onna
the continent holds over 500 trillion cubic feet Local Government Area of Ibom State and in
(14.158 trillion cubic metres) of proven reserves, Delta State and they are in different stages of
but also because natural gas is a critical step in development.
the global energy transition and provision of NCDMB, September 18 2021

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