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Nigeria launched the marginal field bidding round in June (Image: PetroAfrique)

He went on to say that DPR saw the licensing industry and provide opportunities for techni-
round as a path towards building up the capacity cal and financial partnerships for investors,” he
of Nigeria’s domestic oil operators. commented
“The objective of the 2020 marginal field bid The current marginal fields licensing round
round was to deepen the participation of indige- is only the second of its kind. The first took place
nous companies in the upstream segment of the in 2003. ™

Sonangol, Gemcorp take

FID on Angolan oil refinery

ANGOLA ANGOLAN state oil firm Sonangol and Lon- pushed back to between the first and second
don-based investment firm Gemcorp have quarters of 2022. The second phase should then
taken a final investment decision (FID) on wrap up by the second quarter of 2023, followed
a 60,000 barrel per day (bpd) oil refinery in by the third by mid-2024..
Cabinda.
The project is one of three planned refineries
that the southern African state wants to develop
to reduce its expanding petroleum product
import bill, but it is the only one to have reached
an FID thus far.
“The refinery will be the first private invest-
ment of this nature in Angola and will utilise the
latest US technology,” Sonangol and Gemcorp
said in a joint statement.
Investments over the refinery’s three phases
will total $920mn, according to Sonangol. Its
first $220mn stage will establish a 30,000 bpd
plant, featuring a crude distillation unit with a
desalter, a kerosene treatment unit and ancillary
infrastructure including a conventional buoy
mooring system, pipelines and 1.2mn barrels of
storage capacity. The other two stages will add
a catalytic reformer, a hydrotreater and a cata-
lytic cracking unit, raising throughput capacity
to 60,000 bpd.
The project’s first phase had been due to start
up by the end of 2021, but the launch has been The building site has already been prepared (Photo: Gemcorp)

P14 www. NEWSBASE .com Week 44 04•November•2020