Ghana: My Gov’t Will Probe Gold-For-Oil Programme If Elected- Mr Mahama
Ghana’s former president John Dramani Mahama and the flag-bearer of the opposition National Democratic Congress for the December 7 General Election has declared his intention to investigate the God-For-Oil (G4O) programme introduced by the current government of Nana Akufo-Addo.
He argued that the G4O programme introduced in 2021 by the current the government to address the cedi depreciation and the hike in fuel prices lacks transparency and warrants thorough investigations.
Speaking at the 3rd Annual Transformational Dialogue on Small-scale Mining at the University of Energy and Natural Resources (UENR) in Sunyani, Mr Mahama said the deal would be looked at again should he form the next government.
“We will investigate the opaque gold for oil programme and expose the actors benefiting from this so-called barter agreement.
“Reports reaching me suggest that a new debt burden is being created because Ghana has not been able to keep up with its delivery of gold under the programme.”
Under the ‘G4O’ programme, Ghana aims to secure competitively priced oil by selling gold to ease pressure on the Cedi (its local currency), reverse rocketing fuel prices and fix the balance of payment problems.
By March 2023, more than 60,000 ounces of gold valued at over US$97 million had been purchased from local mines, but the PMMC is targeting at least 160,000 ounces of gold valued at about US$300 million per month, which could help purchase about 50 per cent of the country’s monthly oil demand.
Source: https://energynewsafrica.com
Namibia Plans To Become The Fifth Largest Oil Producer In Africa
Namibia has ambitions to become one of the largest oil producers in Africa by 2035, with an average output of half a million barrels daily, displacing Egypt in the top five list, a government official has said.
“With four floating production storage and offloading units deployed by 2035, we could be producing more than half a million barrels per day of oil equivalent,” Ebson Uanguta, interim managing director of the National Petroleum Corporation of Namibia, said at an industry event, as quoted by China’s Xinhua.
Several significant oil and gas discoveries were made recently in Namibian waters, with supermajors tapping an estimated 11 billion barrels of oil in offshore resources, with first production expected in 2030.
Shell and TotalEnergies are the leading investors in Namibia’s oil future, along with Qatar Energy and a UK-listed Australian driller by the name of Global Petroleum.
Chevron, Portugal’s Galp, and Rhino Resources are also exploring for oil in the country’s Orange Basin.
Earlier reports pegged the country’s oil and gas production capacity at 700,000 bpd as of 2030—the year that commercial production should begin.
Two discoveries in particular could transform the country into not only a new oil producer but a major one, as they are estimated to contain billions of barrels in oil and gas.
One of these is Shell’s Graff discovery, which could hold as much as 1.7 billion barrels of oil and gas across three wells, according to Barclays estimates.
The other major discovery is TotalEnergies’ Venus, which is even bigger than Graff, with reserves seen at up to 3 billion barrels of oil equivalent.
Portugal’s Galp, meanwhile, earlier this year struck hydrocarbons at the Mopane discovery, which the company said could contain 10 billion barrels of oil equivalent or more.
This would essentially dwarf the Shell and TotalEnergies discoveries, if proven, and make Namibia an even more attractive oil development destination.
Source: Oilprice.com
Ghana: CBOD Defends Sage Petroleum, Blue Ocean…Urges LPG Marketers To Collaborate With NPA
The Chamber of Bulk Oil Distributors (CBOD) in the Republic of Ghana has thrown its weight behind Sage Petroleum (Quantum Terminals) and Blue Ocean for their investments in LPG distribution system under the Cylinder Recirculation Model programme to boost LPG access.
According to the chamber, the two entities are Ghanaian companies that have been legally registered under the laws of Ghana and complied with the National Petroleum Authority (NPA) Act 691, Act 2005.
The two entities together have made an investment of US$30 million in LPG bottling plants, storage facilities, and cylinders, as well as a US$70 million investment within the next 18 months.
The chamber’s defence follows a statement issued last week by the LPG Marketing Companies which announced their decision to cease business with Sage Petroleum and Blue Ocean’s depots in the Tema enclave.
The action by the LPG Marketing Companies was in protest by Sage Petroleum and Blue Ocean’s decision to register new businesses and participating in CRM programme.
The LPG Marketing Companies deemed the action by the two entities as an unhealthy competition because the LPG they sell in their retail outlets are purchased from the same companies that want to take over their market.
However, reacting to the issue, CBOD, in a statement, mentioned that GOIL had acquired a licence and had constructed and commissioned two bottling plants in Tema and Kumasi, adding that Ghana Gas had also acquired a licence and it intended to establish its own bottling plant.
The chamber questioned whether it is illegal for both institutions to participate in the LPG market.
The chamber described the LPG Marketing Companies’ decision to cut ties with Sage Petroleum and Blue Ocean as counterproductive to the LPG promotion efforts by the government, NPA and all stakeholders.
While urging all stakeholders to engage in constructive dialogue to resolve the current issue and foster collaboration within the industry, it encouraged the LPG Marketing Companies to collaborate with the regulator and all relevant stakeholders, stressing that working together is the key to ensuring nationwide access to safe LPG by 2030.
Source: https://energynewsafrica.com
Russia To Open New Laboratory To Study Technologies For Hydrogen Production
Russia’s St. Petersburg Polytechnic University is in the process of creating a laboratory to carry out research on the use of hydrogen energy as a sustainable source in the near future.
The topic is actively developing all over the world and may give a fresh insight on energy to Africa.
Peter the Great St. Petersburg Polytechnic University (SPbPU, belongs to Consortium of Rosatom’s Flagship Universities) together with Rosatom’s Mechanical Engineering Division CDBMB JSC has set about creating a laboratory to study chemical technologies using digital solutions for hydrogen energy projects.
The laboratory will be equipped with the latest equipment so master’s students could carry out chemical technologies research, develop kinetic models of catalytic processes, including the production of hydrogen and its derivatives (ammonia, methanol, synthetic fuels, etc.), and collect data to create and verify digital twins.
Up to 15 people will be able to work in the laboratory at the same time.
The laboratory is scheduled to open in autumn 2024.
“Today, hydrogen technologies play a key role in the development of the chemical industry and energy sector. Modern energy sector needs an efficient and ecofriendly fuel, and hydrogen will become such an energy source in the near future.
The knowledge-intensive projects of Advanced Engineering School in the interests of CDBMB JSC provide the foundation for new Gen equipment that will allow the industrial partner to become a technology licensor and take a leading position in the new industry,” concluded Yuri Aristovich, Head of the “Digital Engineering of the Main Equipment of Chemical-Engineering Systems” scientific and educational centre.
SPbPU Advanced Engineering School with the support of CDBMB JSC have organised “Digital Engineering of the Main Technological Equipment of Hydrogen Technologies and New Generation Energy Systems” new master’s programme for 2024-2025 academic year.
The programme starts on September 1, 2024.
“The importance of scientific research in master’s training cannot be understated. In the new laboratory, students will not only master the methodology of scientific research and gain research experience, but will also be able to conduct important studies within the framework of the promising hydrogen energy projects of CDBMB JSC,” noted Alexey Mikhailov, Director of Business Development at CDBMB JSC.
The laboratory may also be useful for training African students and exchanging research experience.
Developing renewable hydrogen production in Africa would allow African nations to meet domestic electricity needs while becoming a major exporter to supply growing global demand.
The use of hydrogen as a fuel is not a new concept. It is currently widely used in different applications such as fuel for cars, refining petroleum, treating metals, producing fertilizer, and processing foods.
Hydrogen releases a significant amount of energy when used as fuel, almost three times what can be obtained from diesel or gasoline.
Source: https://energynewsafrica.com
Ghana: Petrol, And Diesel Prices Reduced At The Pumps
Oil Marketing Companies in the Republic of Ghana have reduced the pump prices of both petrol and diesel for the second pricing window of August, which runs from the 16th to the 30th of August.
A litre of petrol is now sold between Gh¢14.65 and Gh¢13.65 while diesel is sold between Gh¢14.80 and Gh¢14.60 per litre.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
The reduction in fuel prices is a result of a reduction in refined petroleum products on the international market.
During the first pricing window which ended on August 15th, a US dollar was exchanged for between Gh¢15.55 and Gh¢15.80.
Data from the National Petroleum Authority, the petroleum downstream regulator, showed that the price of refined petroleum products -petrol and diesel went down.
Petrol price decreased to US$794.58 from US$817.75 per metric tonne while diesel price decreased to Gh¢720.20 from US$755.93 per metric tonne for the second pricing window of August.
Crude oil prices also witnessed some decreases during the first pricing window of August, with Brent falling from $80 to $74 per barrel and WTI falling from $84 to $77 per barrel.
Currently, GOIL is selling petrol (Ron 91) at Gh¢14.22 per litre while petrol (Ron 95) is sold at Gh¢15.62, with diesel being sold at Gh¢14.90 per litre.
Shell is selling petrol at Gh¢14.69 per litre while diesel is sold at Gh¢14.90 per litre.
TotalEnergies is selling petrol at Gh¢14.69 while diesel is sold at Gh¢14.85 per litre.
Star Oil is selling petrol at Gh¢13.65 per litre while diesel is sold at Gh¢14.02 per litre.
Petrosol is selling petrol at Gh¢13.99 while diesel is sold at Gh¢14.65 per litre.
Cash Oil is selling petrol at Gh¢13.65 while diesel is sold at Gh¢14.02 per litre.
Lucky is selling petrol at Gh¢13.49 while diesel is sold at Gh¢13.65 per litre.
Zen Petroleum is selling petrol at Gh¢13.65 per litre while diesel is sold at Gh¢14.02 per litre.
Allied is selling petrol at Gh¢13.93 while diesel is sold at Gh¢14.48 per litre.
Pacific is selling petrol at Gh¢13.27 per litre while diesel is sold at Gh¢13.49 per litre.
Engen Ghana is selling petrol at Gh¢14.60 while diesel is sold at Gh¢14.80 per litre.
Benab is selling petrol at Gh¢13.65 while diesel is sold at Gh¢14.02 per litre.
Source: https://energynewsafrica.com
Nigeria: IBEDC Engages Customers In Ibadan, Ogun States
The Ibadan Electricity Distribution Company (IBEDC) has conducted visits and engagements with some of its Maximum Demand (MD) customers in Ibadan and Ogun States.
This initiative is part of the company’s ongoing commitment to fostering strong relationships and gathering valuable feedback from its esteemed customers.
During the visits, Engr Agoha, who led the IBEDC team, emphasised the importance of customer satisfaction and outlined several key measures that IBEDC is undertaking to ensure an improved customer experience.
He highlighted the company’s determination to explore bilateral partnerships and other options.
Engr Agoha also mandated the IBEDC team to ensure a quicker turnaround time for fault resolutions, emphasising that prompt response and resolution of issues within IBEDC’s control are critical to maintaining customer trust and satisfaction.
Furthermore, he assured the customers that IBEDC is committed to strengthening its working relationships with other stakeholders in the power sector to enhance overall service delivery.
“Our engagement with customers is crucial to understanding their needs and ensuring we meet their expectations.
“Their feedback is invaluable to us, and we are committed to addressing their concerns and improving our services to meet their expectations.
“Our goal is to build a power distribution network that is efficient, reliable, and customer-centric.”
The customers expressed their appreciation for the visit and the proactive steps being taken by IBEDC.
They conveyed their hopes for a smoother and more productive working relationship.
IBEDC said it remains dedicated to providing excellent electricity distribution services and ensuring customer satisfaction across its coverage areas.
The company promised to continue to seek innovative solutions and foster partnerships that would benefit its customers and the larger community.
Source: https://energynewsafrica.com
Mozambique: Coral Sul FLNG Achieves 5 Million Tons Of LNG Production
Italian oil and gas giant Eni, which is the Delegated Operator of Area 4, on behalf of its partners namely ExxonMobil, CNPC, GALP, KOGAS and ENH, have celebrated the achievement of 5 million tons of LNG produced from the Coral Sul FLNG, located in the ultra-deep waters of the Rovuma Basin, offshore Mozambique.
This is a significant milestone for the project, and it represents not only a major technical and operational accomplishment, but also stands as a testament to the dedication, commitment, and collaboration of all the team and stakeholders.
The Coral Sul FLNG started production in October 2022 and has exported so far 70 cargos of LNG and 10 of Condensate, contributing significantly to the country´s economic growth.
Coral South is a landmark project for the industry, and it placed Mozambique among the global LNG producing countries, laying the foundation to a transformational change of Mozambique through development of gas resources, while also supporting a just and sustainable energy transition.
Marica Calabrese, Eni Rovuma Basin Managing Director, made the following remarks “We are truly proud to announce this very important milestone today.
“This accomplishment reinforces our commitment to delivering outstanding value to the country of Mozambique.
“We will continue to work with our partners and the Government of Mozambique to ensure a timely valorization of Mozambique’s vast gas resources with additional developments of gas projects.
“As we celebrate, we recognize the importance of remaining focused on safety, environment, and operational excellence.”
Source: https://energynewsafrica.com
South Africa: Four Eskom Staff, Contractor Security Guard Arrested For Theft Of Heavy Fuel Oil At Camden Power Station
Four employees of Eskom, South Africa’s power utility company, and a contractor security guard have been arrested and charged for the theft of heavy fuel oil valued at R500 000(an equivalent of …. ) from the Camden Power Station.
The accused persons have been detained at the Ermelo Police Station under case number CAS 119/08/2024.
In a statement, Eskom said the initial arrests took place on Friday, 10th August 2024, at midnight, when two Eskom Weighbridge Operators were apprehended for their role in colluding to steal heavy fuel oil and defraud the company.
The company said further investigations on 16th August 2024, led to the arrest of two more Eskom employees, a Weighbridge Operator and a Control Room Operator as well as a contractor security guard.
All the accused persons have been remanded into police custody to reappear on 27th August 2024.
“Eskom is committed to safeguarding the security and integrity of its critical infrastructure.
“The ongoing collaboration between Eskom’s internal security investigations team and law enforcement agencies, coordinated by the National Energy Crisis Committee’s (NECOM) Safety and Security Priority Committee, is yielding positive results in our efforts to combat crime and corruption,” said Botse Sikhwitshi, Eskom’s Acting General Manager for Security.
“While the majority of our employees are hardworking and dedicated to enhancing Eskom’s performance, we are fully committed to eradicating corruption.
“The recent arrests are a positive step in our ongoing efforts to eliminate criminal activities within our organisation, reaffirming Eskom’s zero-tolerance approach to crime and corruption,” concluded Sikhwitshi.
Eskom urged the public to report any unlawful activities such as fraud, illegal electricity sales, theft of coal, fuel oil and crimes targeting critical infrastructure.
Source: https://energynewsafrica.com
USA: Oil Firm Halliburton Hit by Cyberattack
American oil and gas services firm, Halliburton, has been under cyberattack this week and is currently working to fix the problem, Reuters has reported, citing unnamed sources.
The cyberattack is said to have affected operations at the oilfield service major’s north Houston campus as well as some of its global connectivity networks.
“We are aware of an issue affecting certain company systems and are working diligently to assess the cause and potential impact. We have activated our pre-planned response plan and are working internally and with leading experts to remediate the issue,” a spokesman for the company said in a statement carried by Reuters.
The company has not confirmed or denied the issue it is experiencing as the result of a cyberattack.
Energy companies are an attractive target for cybercriminals because they operate strategic infrastructure. One such cyberattack took the Colonial Pipeline offline in May 2021.
The Colonial Pipeline is the biggest pipeline infrastructure in the United States, running 5,500 miles from Houston to Linden, New Jersey, carrying some 2.5 million barrels of gasoline and diesel daily.
The attack on Colonial led to panic along the East Coast, a run on gas stations, and a price jump until the owner and operator of the pipeline paid US$5 million in ransom to the cybercriminals.
“Critical infrastructure operators in the United States get to decide how well they do or do not employ cybersecurity controls,” Eric Noonan, CEO of cybersecurity company CyberSheath, told CNN in comments on the Halliburton report.
“This is a situation that cannot continue in perpetuity without enormous costs to the American people.”
Cybersecurity is garnering growing attention as the energy mix diversifies, too, since wind and solar infrastructure can be hacked, too, and so can EVs and EV chargers.
Source: https://energynewsafrica.com
Ghana: Energy Commission Boss Adjudged Best Head Of Covered Entity By Internal Audit Agency
The Executive Secretary of the Energy Commission, Ing Oscar Amonoo-Neizer, has been adjudged as the Best Head of Covered Entity, the MDAs Category by the Internal Audit Agency at its 2024 Annual Conference and Awards held at the UPSA in Accra, the capital of Ghana, on 22nd August 2024.
This award is presented to the head of Ministries, Departments, and Agencies of government that provide sufficient logistics and build the capacity of the internal audit unit of the organization he or she heads. It also makes sure that the internal control system is effective.
In brief remarks before the presentation of the award, Dr Oduro Osae, Director General of the Internal Audit Agency (IAA), lauded the commitment of Ing Oscar Amonoo-Neizer towards the Internal Audit Unit at the Energy Commission.
He noted that the Executive Secretary attended all audit meetings, consulted the audit unit before any approval was given and virtually relied on the advice of the head of the internal audit unit.
He said this improved the internal control system at the Commission.
Commenting on the award, Ing Oscar Amonoo-Neizer told this portal: “This award means a lot. It shows that when one believes in a system…the system of transparency…the system that should render good accountability…the system that should be responsible for whatever money is given…supports the people to give their best.
This indeed helps us to be more efficient, make us more economical in whatever thing we have to spend on and this has impacted positively in our audit report.
If you see what our external auditors have done for the last few years, it has demonstrated very minimal infractions that occur at the Energy Commission.
“I desire that we will continue equipping and training internal auditors to be able to deliver their mandate because it is their work that makes us sit up. And that makes us do well.”
Source: https://energynewsafrica.com
Commenting on the award, Ing Oscar Amonoo-Neizer told this portal: “This award means a lot. It shows that when one believes in a system…the system of transparency…the system that should render good accountability…the system that should be responsible for whatever money is given…supports the people to give their best.
This indeed helps us to be more efficient, make us more economical in whatever thing we have to spend on and this has impacted positively in our audit report.
If you see what our external auditors have done for the last few years, it has demonstrated very minimal infractions that occur at the Energy Commission.
“I desire that we will continue equipping and training internal auditors to be able to deliver their mandate because it is their work that makes us sit up. And that makes us do well.”
Source: https://energynewsafrica.com Ghana: NPA Corrects Misleading Report That CRM Will Eliminate Cheating At Gas Refilling Stations
Ghana’s petroleum downstream regulator, National Petroleum Authority (NPA), has refuted a publication that misrepresented a statement made by its Head of Communications during a recent interview on an Accra-based radio station in Ghana’s capital.
The report, according to the NPA, erroneously suggested that Mr Mohammed Abdul-Kudus had claimed the Cylinder Recirculation Model Policy would eliminate cheating at LPG filling stations.
This supposed statement did not augur well with the LPG Marketing Companies Association since it [supposed statement by the NPA] suggested that they [LPG stations] cheat customers at the refilling stations.
A statement issued by the Corporate Affairs Directorate of the NPA clarified that during an interview on an Accra-based radio station, Mr Abdul-Kudus addressed customer concerns about the integrity of filled cylinders under the Cylinder Recirculation Model (CRM).
According to the regulator, Mr Abdul-Kudus sought to explain that the filling of the cylinders under the CRM was automated at the bottling plants and that customers were assured of the right quantity of LPG they would be paying for at the exchange points.
“He further assured that customers who are still doubtful will have access to scales at the exchange points to weigh their cylinders and verify the correct quantities,” the statement explained.
It added that the media house that conducted the interview carried the story on their online portal with the correct headline: ‘NPA allays fears of gas cheating under cylinder recirculation model’.
The NPA has since drawn the attention of the media house to the misrepresentation and the need for it to effect the correction to represent the explanation given by Mr Abdul-Kudus.
“The NPA is mindful of its regulatory mandate to be fair to all players in the country’s petroleum downstream industry and will, therefore, not pass any comments to antagonize or tarnish the reputation of any player.
“The Authority is also guided by its mandate to protect the interests of customers and attend to their concerns,” the statement concluded.
Source: https://energynewsafrica.com
Kenya: Kenya Pipeline Is Not Part Of Entities To Be Privatised – Energy CS
Kenya’s Cabinet Secretary for Energy and Petroleum Opiyo Wandanyi has stated that Kenya Pipeline Company is not part of government entities that have been earmarked for disposal.
This comes as the government continues with its privatisation agenda targeted mainly at loss-making entities and those with duplicating roles, to tame wastage.
The move that will see up to 200 state enterprises reorganised, with some having private shareholders on boarded, gained momentum after President William Ruto signed into law the Privatisation Bill 2023, in October last year, after it was passed by the National Assembly in September.
Eleven key state corporations, which include the Kenyatta International Convention Centre (KICC), Kenya Literature Bureau (KLB), National Oil Corporation of Kenya (NOCK) and Kenya Pipeline Company (KPC), were on the cards as of this year.
Others are Kenya Seed Company Limited (KSC), Mwea Rice Mills Ltd. (MRM), Western Kenya Rice Mills Limited, New Kenya Cooperative Creameries Limited, Numeric Machining Complex Limited (NMC), Vehicle Manufacturers Limited (KVM) and Rivatex East Africa Limited.
CS Wandayi on Wednesday however struck off KPC, which falls under his ministry from the list, dimming hopes of the private sector, which had started angling to grab a pie in the refined petroleum products handling company, which serves the Kenyan market and the region.
“The matter of restructuring public operations is in the domain of the public service (Public Service Commission) but having said that, I must emphasise and actually clarify that KPC is not on the table in terms of any plans for privatisation,” the Star quoted CS in a report.
Wandayi termed Kenya Pipeline as a strategic institution with “serious national security implications.”
KPC is wholly owned by the government with 99.9 per cent shareholding by the National Treasury and less than 0.1 per cent by the Ministry of Energy and Petroleum.
“It is an institution that the government will have to hold on to for the foreseeable future for its strategic positioning,” said Wandayi.
Cabinet has so far considered and approved the proposed selling off subsidiary business interests of the state’s shareholding in six listed companies.
The companies include East African Portland Cement Limited (25.3 per cent), Nairobi Securities Exchange (3.36 per cent), Housing Finance Company of Kenya Limited (2.41 per cent), Stanbic Holdings-formerly CfC Stanbic Bank Limited (1.1 per cent), Liberty Kenya Holdings-formerly CfC Insurance Holdings (0.9 per cent) and Eveready East Africa PLC (17.2 per cent).
In November last year, Ruto announced that the government was poised to privatise 35 state companies.
There will also be a major restructuring in agencies that have “serious governance issues” and supplication.
Some of the ministries with a high number of state agencies include agriculture, roads, transport and infrastructure, tourism, energy and petroleum, trade and industrialisation and sports, culture and heritage, which could face a major rationalisation.
A huge number of these entities have remained in losses or yielded low dividends for the government, forcing the exchequer to bail them out.
Kenya Pipeline Company is among few entities that pay dividends to the government, alongside the likes of Safaricom, KCB and KenGen, which have private shareholding.
In March this year, it announced an interim dividend payment of Sh5 billion to the National Treasury for the financial year ended June 2023.
The dividend payment followed a 21 per cent increment in KPC’s profitability to Sh7.6 billion in the financial year 2022-2023, compared to Sh6.3 billion the previous year.
Management and the board have since committed to deliver not less than Sh12.5 billion in the current financial year.
Source: https://energynewsafrica.com
Iran Appoints New Oil Minister, Warns Reserves Are Limited
Iran has appointed a new oil minister, Mohsen Paknejad, following a vote of confidence in parliament on Wednesday, Azerbaijan’s Trend news agency reported.
Paknejad, an oil ministry veteran who previously held the position of deputy oil minister from 2018 to 2021, took the podium on Wednesday to bemoan the state of affairs in Iran’s oil industry.
The new oil minister called on Tehran to boost production, warning that fossil fuel reserves will remain limited over the next two decades, without significant development efforts.
As things stand now, Iran is expected to see its oil output rise by 400,000 barrels by the end of next year, according to Trend AZ.
Paknejad said the ministry would work to balance production and consumption to stabilize the industry.
In July, according to OPEC figures, Iran saw a month-on-month increase of 20% in crude oil production, hitting 3,271,000 barrels.
The country’s total fossil fuel reserves are set at 1.2 trillion barrels, according to Trend.
However, Iran needs help getting fossil fuels out of the ground, with the Azerbaijani news agency indicating that some 70% of its gas reserves remains trapped underground due to technological insufficiencies.
Iran has a total of 74 oilfields and 22 gas fields in operation.
While production and development remain an issue, sanctions continue to bite in terms of exports and revenues.
Iran, however, appears to have rounded up new buyers of its sanctioned crude, including Oman and Bangladesh, Reuters reports.
Iran’s oil production has been recently estimated to have hit its highest level since 2018 as Tehran looks to boost output and exports, and export revenues with these, despite the U.S. sanctions.
Last month, Iran’s Petroleum Minister Javad Owji claimed that Tehran is currently exporting its oil to as many as 17 countries.
Wasington is still considering ways of squeezing Iranian oil exports amid heightened Middle East tension following Tehran’s vow to avenge the death of Hamas leader Ismail Haniyeh on Iranian soil.
Source: Oilprice.com
PETRONAS Achieves First Gas Production From Kasawari Field Offshore Malaysia
PETRONAS recently commenced its first gas production at the Kasawari field, located in Block SK316, approximately 200 km offshore Malaysia, at an initial flow rate of 200 MMcfd.
Block SK316 is operated by PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), which holds a 90% participating interest, while the remaining 10% is held by Exploration and Production Malaysia Venture (EPMV).
Discovered in 2011, the Kasawari field is a crucial feed source for both the PETRONAS LNG Complex in Bintulu and in addressing the increasing domestic demand for gas.
The field contains approximately 10 Tcf, with a gas sales rate of 545 MMcfd.
The Kasawari Gas Field Development (GFD) project includes a Central Processing Platform (CPP), a Flare Platform, and a Wellhead Platform (WHP), all interconnected to the CPP via bridges.
Gas from the Kasawari field is exported to a new riser platform at the E11 production hub through an 81 km carbon steel pipeline for further gas delivery to customers in Bintulu.
The fabrication works for the Kasawari platforms and bridges were carried out locally by Malaysia Marine & Heavy Engineering Holdings Berhad (MHB) in Pasir Gudang and Ocean Might Sdn Bhd (OMSB) in Kuching.
The CPP for the field is listed in the Malaysia Book of Records as the Heaviest Offshore Structure Platform, with a total weight of 53,893 metric tonnes (MT).
Malaysia Petroleum Management Senior Vice President Datuk Ir. Bacho Pilong said, “Kasawari is a testament to our local capabilities in executing large-scale projects.
This accomplishment, involving more than 450 local subcontractors and vendors, was achieved within 26.6 million man-hours.”
Source: worldoil.com