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EGYPT measures the authority instituted. GABON
This reduction spans between 2013 to August
Pharos Energy receives this year, the chief executive of the authority, Dr Aquaterra Energy awarded
Mustapha Abdul-Hamid, has revealed.
cabinet’s approval for addressing stakeholders at this year’s Consumer $4.4mn offshore Gabon
The NPA boss made this statement while
amendments to El Fayum Week Celebration, which was held under the conductor tensioning
theme: “Adulterated Fuels: A menace to the con-
concession agreement sumer and the economy,” which was held at Ho, contract
the capital city of the Volta region of Ghana.
Pharos Energy has received Egyptian cabi- Some of the key strategies that the author- Oslo-listed oil & gas company BW Energy
net approval for the third amendment to its El ity adopted in fighting fuel crimes include the has awarded Aquaterra Energy a $4.4mn con-
Fayum Concession Agreement on November 4. revision of operating procedures in the import, tract for repurposing of the Hibiscus Alpha
The approved terms include both an increase in export and production of fuels by Petroleum jack-up rig to an installation offshore Gabon,
the cost recovery petroleum percentage and an Service Providers (PSPs) and the introduction of Oilfield Technology reported on November 10.
extension of the exploration term of three and a Petroleum Product Marketing Scheme (PPMS) Under the contract, Aquaterra Energy will
half years. as well as the Bulk Road Vehicle (BRV) tracking provide procurement, engineering, manufac-
The enhancements enshrined in the third system to ensure that petroleum products are ture, installation and commissioning support
amendment are set to deliver a lower break-even devoid of adulteration and meet the required of multiple conductor tensioning units for the
price per barrel and enhanced, earlier cash flow specification along the supply chain. repurposing.
from the producing fields. The improved fiscal He added that his outfit is poised to wipe out It will also provide its new digital tensioning
terms are backdated to November 2020, raising the rest of the 2.51% culprits. “We are poised monitoring system, which will remotely monitor
the contractor share of revenue from 42% to 50% to wipe out these 2.51% culprits [that are] still the tension applied via an app.
and lowering the development project break- cheating petroleum consumers,” he said. BW Energy bought the Hibiscus Alpha rig
even while in full cost recovery mode. bna/IntelliNews, November 10 2021 from Borr Drilling in November 2020, follow-
bna/IntelliNews, November 7 2021 ing up on its plans to convert a jack-up rig for
its Dussafu project in Gabon to reduce invest-
EQUATORIAL GUINEA ments and time to first oil, according to Offshore
SIERRA LEONE Energy.
In October 2021, BW Energy picked the
Sierra Leone oil tanker Equatorial Guinea’s mining UAE-based Lamprell to convert the Hibiscus
and hydrocarbon ministry
Alpha rig into an offshore production facility.
explosion leaves 108 dead The work is scheduled to be completed in 2022.
bna/Intellinews, November 10 2021
At least 108 people died following a massive biggest African Energy
explosion in Sierra Leone’s capital on the evening Week sponsor
of November 5 when a fuel tanker collided with a NAMIBIA
lorry. Nearly as many people were being treated Equatorial Guinea’s Ministry of Mines and
in hospitals and health centres around Freetown. Hydrocarbons (MMH) has been confirmed PVE Consultants to assist
The majority of the victims were reportedly as the biggest “diamond sponsor” at African
street vendors and motorcyclists, many of whom Energy Week (AEW) 2021, which is taking place Global Petroleum with
were caught in the blaze while trying to retrieve in Cape Town from 9-12 November.
fuel leaking from the tanker before it ignited. As a diamond sponsor, the MMH is com- Namibia licence farm-out
About 30 casualties who suffered serious mitted to helping establish AEW 2021 as the
burns were not expected to survive. premier event for the discussion on Africa’s gas Global Petroleum has appointed PVE Consult-
bna/IntelliNews, November 8 2021 future, according to the African Energy Cham- ants to assist in the farmout of its Licence PEL
ber (AEC). 0094, offshore Namibia, the AIM-listed com-
“[The] MMH represents the biggest spon- pany announced on November 9.
GHANA sor, with a strong delegation of industry leaders The company said it would also be making a
including H.E. Gabriel Obiang Lima, Minister presentation regarding PEL 0094 at the Africa
Ghana’s NPA reduces of Mines and Hydrocarbons, coming to broaden Oil Week Conference in Dubai later this week.
Global Petroleum says it has become clear
dialogue, facilitate discussions on natural gas,
contaminated fuels and strengthen regional partnerships among that potentially interested parties are await-
ing the outcome of the drilling programme in
key players,” the AEC announced on October 29.
from 32% to 2.51% biggest hydrocarbon markets, with over 1.5 tril- energy majors Total (Venus-1) and Shell (Graff-
Equatorial Guinea represents one of Africa’s Namibia’s Orange Basin, to be undertaken by
The National Petroleum Authority (NPA) has lion cubic feet of natural reserves positioning the 1), both reportedly set to spud in the fourth
reduced contaminated fuel from 32% to 2.51%, country as a highly competitive gas player quarter of 2021.
saying that this happened as a result of stringent bna/IntelliNews, November 4 2021 bna/IntelliNews, November 10 2021

P20 www. NEWSBASE .com Week 45 10•November•2021