Page 14 - AfrOil Week 02 2022

AfrOil NEWS IN BRIEF AfrOil

The Company is advancing the current explo- K-Field.
ration programme with the acquisition of infill As previously disclosed, the Company
seismic data for a planned H1-2022 basin open- announced a merged concession agreement with
ing drilling campaign. a 15-year primary term and improved Company
SG 4571 (Special Grant Permit 4571) was economics in early December, 2020, and parlia-
granted in August 2017. The Company entered mentary ratification and Presidential signature
into the second exploration period in August into law of the new Agreement in December,
2020, which runs until June 2024. Invictus has 2021. The Company and Egyptian counter-
an 80% equity stake in SG4571 via its subsidiary parties anticipate signing the new Agreement,
Geo Associates (Private) Ltd. along with payment by the Company of the first
Invictus Energy, January 12 2022 modernisation payment ($15mn) and signature
bonus ($1mn), in the coming weeks. The effec-
tive date for the improved concession terms in
PERFORMANCE the new Agreement is February 1, 2020.
The Company is in the process of finalising a
TransGlobe Energy 2022 work programme and budget that reflects patronage of the Ministry of Mines and Energy
led by Minister Tom Alweendo.
our focus on free cash flow through contin-
provides update on ued development activities on the contingent Under the theme, “The Energy Mix: Posi-
resource projects previously disclosed, and tioning for Investment, industrialisation and
Egyptian drilling campaign production-sustaining infrastructure improve- Growth,” this thought leadership event will
ments. The Company anticipates maintaining a convene energy stakeholders with investors and
Eastern Desert (100% WI): The Company single drilling rig, along with a light rig for well international partners to drive industry growth
continued to use the EDC-64 rig in its Eastern maintenance and recompletion activities in the and development as well as promote Namibia
Desert drilling campaign, managing to drill Eastern Desert throughout 2022. and Africa as the destination for energy invest-
and case three additional development wells in Western Desert – South Ghazalat (100% WI): ments. Participating companies, international
K-Field and H-Field during the quarter. Natural flow of SGZ-6X well at South Ghazalat investors, service companies and various inter-
K-66 was drilled to a total depth of 1,809 ceased in December due to low reservoir pres- national delegations, will share updates on explo-
metres, encountering good gas and oil shows sure, and rigless-deployed artificial lift equip- ration activities, green hydrogen and regional gas
in the Asl-A, Asl-B, Asl-D, Asl-E, and Asl-F ment has been mobilized to site in an attempt and other ongoing projects and announce future
reservoirs. Hole instability issues prevented to restore production. Immediately prior to the projects while highlighting upcoming business
wireline logging of certain zones, however the well-ceasing production, the lower Bahariya res- and investment opportunities.
Asl-A and Asl-B were logged and evaluated, ervoir at SGZ-6X was producing at a field esti- The conference will bring together various
with an internally estimated 25.1 metres of net mated 240 bpd of light crude oil with a 71.5% perspectives from across the energy value chain
oil pay in the Asl-A and 20.3 metres net oil pay watercut. to serve as a catalyst for crucial conversations
in the Asl-B. The Asl-B was perforated, put on Initial well testing of the oil-bearing lower shaping the future of energy in Namibia and the
production, and is currently producing at a rate Bahariya reservoir discovered in the SGZ-7B rest of the continent.
of 160 bpd heavy crude oil (field estimate). The exploration well drilled in October 2021 has “There are a lot of world-class energy pro-
well is expected to be recompleted on the Asl-A indicated low productivity and sub-commercial ducers active in the region, so it is important
once the Asl-B is exhausted. The deeper zones flowrates. The well has been suspended pending that their leadership join the conversation and
encountered by the well, the Asl-D, Asl-E, and further evaluation of options to improve pro- showcase opportunities. We will bring inter-
Asl-F reservoirs, are being considered as targets ductivity on the lower Bahariya reservoir, and to national and regional players to help drive the
in future drilling. Heavy crude is the expected assess the commercial potential of the gas-bear- discussions around energy development and
product type for all zones mentioned. ing upper Bahariya reservoir. transition, enabling environment, local content
HE-2 was drilled to 1,800 metres total depth, TransGlobe Energy, January 10 2022 and capacity building and the development of an
encountering an internally estimated net oil pay environmental safety culture,” concluded Ndap-
of 4 metres in the Asl-B reservoir after being fully wilapo Selma Shimutwikeni, Managing Director
logged and evaluated. The expected product type POLICY of RichAfrica.
is heavy crude. The well was perforated in the The conference will take a close look at global
Asl-B and is currently on production at a rate of Namibia’s International and continental energy perspectives and their
220 bpd heavy crude oil (field estimate). impact, the latest developments in the oil and
K-68 was drilled to a total depth of 1,403 Energy Conference set gas industry, the status of the power & electric-
metres. The well was fully logged and evaluated, ity market, the role of natural gas as well as the
with an internally estimated 22.9 metres of net for April 20-22, 2022 in future of renewables. It will also feature relevant
oil pay in the Asl-A reservoir and 4.6 metres of topics such as financing the energy sector, infra-
net oil pay in the Asl-B reservoir. The well will be Windhoek structure development, ESG matters and the
perforated in the Asl-A reservoir and put on pro- African Continental Free Trade Area.
duction in January 2022. The Asl-B is expected The 4th edition of the Namibia’s International Namibia continues to see a lot of exploration
to be recovered through existing up-dip comple- Energy Conference will be held from April activity with proven reserves, estimated at 11bn
tions on that reservoir. Both zones are expected 20-22, 2022, in Windhoek, Namibia, organized barrels of oil and 2.2 trillion cubic feet of natural
to be heavy crude oil. by Rich Africa Consultancy. It is going to be the gas. The country has been a major attraction for
Subsequent to the quarter the EDC-64 rig official meeting place for the energy industry. both regional and international oil companies.
is being moved to the K-67 well location, in the The two-day flagship event will be held under the Industry players include Tullow Oil, which is

P14 www. NEWSBASE .com Week 02 12•January•2022