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EGYPT (EGPC). by 2050.
bna/IntelliNews, January 11 2022 “Globeleq is committed to supporting the
Eni wins 5 new exploration government’s aim of achieving universal elec-
tricity access by 2030 and positively impacting
licences in onshore and TUNISIA the regional energy landscape,” company chief
executive Mike Scholey said. “The Government
offshore Med in Egypt STIR signs $200mn of Mozambique, through EDM, is a strategic
partner for Globeleq as we grow to develop other
Italy’s Eni has been awarded five new exploration financing agreement projects in renewables, such as the Cuamba solar
licences for onshore and offshore Mediterranean and battery project and other wind and solar
by Egypt’s Ministry of Petroleum during the lat- with Saudi Exim Bank developments underway.”
ter’s latest international bid round, the company CTT’s flexible technical and commercial con-
said in a statement. The licenses are located in The Tunisian Company of Refining Industries figuration allows for a variable supply of base-
the Blocks EGY-MED-E5 and EGY-MED-E6 in (STIR) and the Saudi Export-Import Bank load and dispatchable power and will deliver
the Eastern Mediterranean, Block EGY-GOS-13 have signed a financing deal worth TND576mn complementary power so that Mozambique can
in the Gulf of Suez and in Blocks EGY-WD- 7 ($200mn) to finance the Saudi petroleum prod- maximise renewable energy generation projects
and EGY-WD-9 in the Western Desert, over a ucts imported by STIR, according to a state- on its grid and pursue lower-carbon energy
total acreage of about 8,410 square kilometres. ment by the Tunisian Ministry of Economy and development.
Eni is the operator at four licences. It acquired Planning. bna/IntelliNews, January 10 2022
50% of the exploration rights of blocks EGY- The agreement was signed in Tunisia. It will
MED-E5 and EGY-WD- 7 equally with BP and help boost co-operation between the two coun-
APEX International Energy respectively. In tries in other fields, Economy Minister Samir KENYA
addition, Eni’s subsidiary EOC Production BV Saed said.
has 100% interest in blocks EGY-MED-E6, EGY- The minister added that the efforts of the Wang refutes “debt trap” in
GOS-13 and EGY-WD-9. recently established Tunisian-Saudi committee
Eni said that the bid results are in line with have enabled the signing of many agreements China-Africa co-operation
the company’s strategy to keep exploring and and MoUs in various fields that would raise bilat-
producing gas in order to continue supplying eral relations to the highest levels. State Councilor and Chinese Foreign Affairs
Egypt’s local market and contribute to LNG On its side, the Saudi Exim Bank pledged to Minister Wang Yi on January 6 refuted allega-
exports via the Damietta LNG plant. support Tunisian public and private companies tions that China’s co-operation with Africa has
Eni is Egypt’s main hydrocarbon producer by providing financial services to strengthen created a “debt trap.”
with total output of approximately 350,000 bar- their ability to contribute to Tunisia’s develop- Speaking in the Kenyan costal city of Mom-
rels of oil equivalent per day (boepd). The com- ment process. basa, Wang said China-Africa co-operation is
pany has been active in Egypt since 1954. bna/IntelliNews, January 11 2022 South-South co-operation, entailing mutual
bna/IntelliNews, January 12 2022 support and assistance between developing
countries.
BP, Eni acquire 50:50 MOZAMBIQUE China has never attached any political strings
“In conducting co-operation with Africa,
exploration rights to Globeleq-led consortium or imposed anything on others,” he told a joint
press conference with Kenya’s Foreign Affairs
EGY-MED-E5 concession reaches financial close on Cabinet Secretary Raychelle Omamo.
Wang said all China-Kenya co-operation
BP and Italy’s Eni acquired 50:50 exploration $652.3mn gas-fired CTT projects have been scientifically planned and
rights to the EGY-MED-E5 concession area appraised in detail, bringing benefits to the Ken-
located about 130 km north-east of Port Said. electricity project yan people and boosting the East African coun-
The concession area, to be operated by Eni, try’s development.
is about 3,200 square km at a depth ranging Leading Africa independent power company “80% of Kenya’s foreign debt is owed by mul-
between 500 and 1,200 metres. BP and Eni won Globeleq and its partners, Electricidade de tilateral financial institutions, and its debt to
the exploration rights in this concession area Moçambique (EDM) and Sasol, have announced China is mainly concessional loans,” he said.
following their successful participation in the the financial close of the Central Termica de Wang emphasised that the so-called “debt
first digital global bid for gas exploration and Temane power project (CTT), a 450-MW gas- trap” in Africa is not a fact, but malicious hype
exploitation in the Mediterranean. fired power plant that will supply power to EDM by some people, saying it is an “trap” created by
Both BP and Eni have a long history of oil and under a 25-year tolling agreement. forces that do not want to see Africa speed up
gas exploration in Egypt, accounting between CTT is expected to provide electricity to meet development.
them for well over half of Egypt’s hydrocarbon the demand of 1.5mn households and will con- “If there is any “trap” in Africa, it is the “pov-
production. They are partners in the giant Zohr tribute about 14% of the electricity supply capac- erty trap” and the “underdevelopment trap,
offshore natural gas field, also operated by Eni. ity available to meet demand in Mozambique. which Africa should get rid of as soon as pos-
Their primary partner from the Egyptian side is The project will support the country’s longer- sible,” he said.
state-owned Egyptian General Petroleum Corp. term sustainable energy transition to net-zero bna/IntelliNews, January 6 2022

P18 www. NEWSBASE .com Week 02 12•January•2022