Page 20 - AfrOil Week 44

AfrOil NEWS IN BRIEF AfrOil

INVESTMENT helping to unlock some of Africa’s most promis- in Africa and Guyana. The Company is listed
ing energy projects, with AFC currently having on the Toronto Stock Exchange and on Nasdaq
San Leon provides investments of over $1bn in projects ranging Stockholm under the symbol AOI.
from upstream/midstream oil & gas, to power
Africa Oil Corp., October 26 2020
update on investment generation. The Multinational Investment Bank
is a leading provider of finance in the oil and
in Oza field in Nigeria gas sector with both global reach and profound DECARBONISATION
market expertise within the EMEA region. Both
FURTHER to its announcement of September Expression of Interest Letters further endorse Sasol invites interested
1, 2020, regarding its proposed investment in our view that the Anchois development is a high
Decklar Petroleum and the Oza Field in Nigeria, value project, with the potential to deliver near parties to partner for the
San Leon announces that the parties have agreed term cash flows to Chariot and also transform
to a further three week extension to November Morocco’s power sector. development of carbon
21, 2020, in order to finalise certain conditions “Today’s announcement is also further evi-
precedent in the Subscription Agreement, which dence of the Company delivering on what it said offset projects
have taken longer to conclude due to travel it would do, namely, advancing the commerci-
restrictions in place as a response to COVID- ality of the Lixus asset and generating value to In an effort to realise its ambition towards meet-
19. All other terms of the transaction remain shareholders in the process. This is an important ing the Paris Agreement goals, Sasol is placing a
unchanged. first step towards securing financing for the pro- request to the market to collaborate with expe-
San Leon Energy, November 02 2020 ject and we look forward to updating our stake- rienced carbon offset project developers. The
holders on further developments during the aim to determine the ability of the South Afri-
remainder of 2020.” can market and the South African Development
FINANCE Chariot Oil & Gas, October 28 2020 Community (SADC) to generate and make
available carbon credits.
Chariot Oil & Gas receives Africa Oil Corp. receives greenhouse gas emissions profile through var-
Sasol is committed to reducing its operational
EOI for development debt fifth dividend from its ious mitigation activities. Our strategic choices
and updated strategy, we term Future Sasol,
finance for Anchois gas Nigerian asset informs our path to ensuring Sasol remains sus-
tainable in the long-term and in a carbon-con-
discovery offshore Morocco Africa Oil Corp. is pleased to announce that strained future. For us to be successful, more
it has received its fifth dividend from Prime partnerships across our value chain are needed.
AIM-listed Chariot Oil & Gas has received a Oil and Gas, a company that holds interests in Carbon offsets and carbon markets are rec-
non-binding Expression of Interest Letter (EOI) deepwater Nigeria production and development ognised under Article 6 of the Paris Agreement
from Africa Finance Corp. (AFC), a pan-African assets. as a critical tool to reach climate ambitions when
Multilateral Development Financial Institution, Prime has distributed a $50mn dividend with pursued once every effort has been made to
for the provision of development debt finance for a net payment to Africa Oil of $25mn related first avoid and reduce direct emissions. These
the Anchois Gas Discovery, located within the to its 50% interest. The Company will apply projects are beneficial not only from a green-
Lixus Offshore Licence, Morocco, and the devel- $12.1mn of this dividend to reduce the outstand- house gas reduction perspective, but also from a
opment of future discoveries from the wider ing balance of the BTG term loan to $164.8mn. socio-economic one as they bring multiple sus-
prospect portfolio of the Licence. The Company has received a total dividends tainability co-benefits to the communities and
In addition, Chariot has received a non-bind- amount of $162.5mn since the closing of the areas in which they are located.
ing EOI for the provision of Reserves Base Prime acquisition on January 14, 2020. To progress our climate change ambitions,
Lending for the development of the Anchois Africa Oil Corp. is a Canadian oil and gas Sasol is inviting interested parties to participate
Gas Discovery with a Multinational Investment company with producing and development in a Request for Information (RFI) for the devel-
Bank. assets in deepwater Nigeria; development assets opment and implementation of carbon offset
Both EOIs take into account the estimated in Kenya; and an exploration/appraisal portfolio projects based in the South African and SADC
capex required to bring the development online, regions.
anticipated to be in the region of $300-500mn, The closing date for parties to express their
but they also identify Lixus as being an impor- interest in writing is Friday, November 13, 2020.
tant strategic asset with strong Environmental, The RFI will then be published on Sasol’s Ariba
Social and Governance (ESG) credentials that platform the following week.
has the potential to help Morocco transition to Sasol wants to identify partners that are
a low-carbon economy, as it seeks to satisfy an involved in carbon offset projects at any stage of
anticipated doubling in domestic demand for the development process in the specified regions.
energy over the next 20 years. Projects must focus on generating emission
Adonis Pouroulis, Acting CEO, commented: reductions in sectors that would otherwise not
“Following on from the recent Anchois resource have been incentivised to do so; for example, in
upgrade, I am very pleased to announce that domestic energy efficiency, waste and Agricul-
we have received expression of interest letters ture, Forestry and Other Land Use (AFOLU)
from two highly regarded institutional lenders. sectors.
Africa Finance Corp. has played a pivotal role in Sasol, November 02 2020

P20 www. NEWSBASE .com Week 44 04•November•2020