Ghana: ACEP Among Top 20 Global Energy & Policy Resource Think Tanks
The Africa Centre for Energy Policy (ACEP) in the Republic of Ghana, West Africa, has been ranked as the 14th Energy & Resource Policy Think Tank in the world, and the only energy think tank from Africa within the top 20 globally.
This ranking is contained in the Global Go-To Think Tank Index’s (GGTTI) 2019 Report.
This is yet another recognition of the Centre’s credibility and influence when it comes to research work, policy analysis, contract governance, inclusion, transparency and general advocacy, and overall output within the energy and extractive space in Africa in particular, and the world in general.
GGTTI is produced annually by the Think Tanks and Civil Societies Programme (TTCSP) of the Lauder Institute at the University of Pennsylvania, and ranks the world’s leading think tanks in a variety of categories with the help of a panel of over 1,796 peer institutions and experts from the print and electronic media, academia, public and private donor institutions and governments around the world.
The 2019 rankings were done under four main categories: Top Think Tanks in the World; Top Think Tanks by Region; Top Think Tanks by Area of Research and Top Think Tanks by Special Achievement.
The ranking process attracted close to 4,000 individual participants globally.
The criteria for selection centred around quality and commitment of the think tank’s leadership (chief executive and governing body), quality and reputation of its staff, quality and reputation of the research and analysis produced, its ability to recruit and retain elite scholars and analysts, its academic performance and reputation, its access to key institutions, impact of its research and programmes on policy makers and other policy actors, and the quality, number, and reach of its publications, among others.
Launched in 2006, the Global Go-To Think Tank’s Index identifies and recognises centers of excellence in all the major areas of public policy research in every region of the world to increase their profile and performance, raise global awareness on their importance and the roles they play in governments and civil societies around the globe, as well as help bridge the gap between knowledge and policy.
Source: ACEP
South Africa: Stage 2 Load Shedding Resumes, Weekend Reality
South Africa’s power utility company, Eskom, has announced that it will continue with stage 2 load shedding from 9:00 today (Friday) until 6:00 on Monday 3 February.
According to the power utility, this is due to a shortage of generation capacity and depleted emergency resources, which were used extensively to supplement capacity over the past few days.
In addition, the parastatal said in a statement: “We are taking out three big units for planned maintenance today.”
“Unplanned outages were at 12,722MW as at 05:30 this morning [Friday]. We are monitoring the system closely and we will continue to give periodic updates on the status of the power system as things may change at short notice,” the utility said in a statement this morning.
A report by the Council for Scientific and Industrial Research’s Energy Centre has analysed South Africa’s load shedding, indicating that it cost the country’s economy between R60 billion and R120 billion in 2019 alone.
South Africans have therefore come up with amazing techniques and solutions to survive power outages.
Source:www.energynewsafrica.com
Ghana: Energy Minister Inspects 912kWp Solar Power Under Construction At Jubilee House
Ghana’s seat of government, Jubilee House, is walking the talk in its quest to install solar PV panels after the president of the West African nation promised last year to ensure that the seat of government installs solar power to reduce the cost of electricity consumed.
Energynewsafrica.com can report that the installation of 912kW solar power project is currently ongoing at the Jubilee House.
The project, which cost US$1.4 million, is being executed by a Tema-based Strategic Security Systems Limited.
The contractor is expected to complete the project by the end of June this year.
Upon completion, the project is expected to supply about 60 percent of the power being consumed at the presidency.
Per the scope of work, the contractor is expected to install solar PV panels (complete with all supporting infrastructure, but excluding battery storage) on the roof spaces of the Jubilee House building.
In addition, the contractor is also to design a new car port which will incorporate solar PVs to generate additional capacity.
So far, the contractor had done about 100 kWp of the solar PV panels with the remaining 812kWp yet to be done.
Speaking to the media after inspecting the project on Friday, Ghana’s Energy Minister John-Peter Amewu expressed satisfaction on the progress of work.
He said what the seat of government had done is a demonstration of the government’s commitment towards incorporating renewable energy into Ghana’s energy mix.
“Having visited the site, I am very much impressed about progress on site. This work is part of the government’s agenda towards inclusion of renewable energy in our energy mix. As a government, we believe in the importance of renewable. We have a target of ten percent as a proportion of our energy mix within 2020. Already, we are behind that schedule. The President did promise in his last State of the Nation Address to Ghanaians that the Jubilee House is going to be fed on renewable. I am encouraging the contractors to go ahead with the speed at which they are going about this project,” Peter Amewu said.
He, however, expressed optimism that the country would gradually get to that state in the future, given the number of renewable projects that is yet to commence.
He mentioned the 45kW Tsatsadu mini hydro power project in the Volta Region, which is expected to be commissioned, and the 17MW solar power project at Kaleo, which President Akufo-Addo would be cutting sod to commence on Tuesday.
The Minister of Energy was accompanied by his deputy Hon. Joseph Cudjoe, Mr. Wisdom Ahiataku-Togobo; Director for Renewables and Alternative Energies, Benjamin Asante; Director of Upstream at the Ministry of Energy, Ing. Seth Mahu; Deputy Director for Renewables and Alternative Energies, Lawrence Apaalse, Chief Director at the Ministry and Rev. Ing. Oscar Amonoo, Executive Secretary of Energy Commission.
Source: www.energynewsafrica.com
Speaking to the media after inspecting the project on Friday, Ghana’s Energy Minister John-Peter Amewu expressed satisfaction on the progress of work.
He said what the seat of government had done is a demonstration of the government’s commitment towards incorporating renewable energy into Ghana’s energy mix.
“Having visited the site, I am very much impressed about progress on site. This work is part of the government’s agenda towards inclusion of renewable energy in our energy mix. As a government, we believe in the importance of renewable. We have a target of ten percent as a proportion of our energy mix within 2020. Already, we are behind that schedule. The President did promise in his last State of the Nation Address to Ghanaians that the Jubilee House is going to be fed on renewable. I am encouraging the contractors to go ahead with the speed at which they are going about this project,” Peter Amewu said.He, however, expressed optimism that the country would gradually get to that state in the future, given the number of renewable projects that is yet to commence.
He mentioned the 45kW Tsatsadu mini hydro power project in the Volta Region, which is expected to be commissioned, and the 17MW solar power project at Kaleo, which President Akufo-Addo would be cutting sod to commence on Tuesday.
The Minister of Energy was accompanied by his deputy Hon. Joseph Cudjoe, Mr. Wisdom Ahiataku-Togobo; Director for Renewables and Alternative Energies, Benjamin Asante; Director of Upstream at the Ministry of Energy, Ing. Seth Mahu; Deputy Director for Renewables and Alternative Energies, Lawrence Apaalse, Chief Director at the Ministry and Rev. Ing. Oscar Amonoo, Executive Secretary of Energy Commission.
Source: www.energynewsafrica.com
Ghana: Kadijah Amoah Appointed Country Director Of Aker Energy
Norwegian oil firm, Aker Energy AS, has announced the appointment of Mrs. Kadijah Amoah as Country Director of Aker Energy Ghana Ltd, effective 1 February 2020.
The appointment follows Aker Energy’s strategy to strengthen the company’s local presence and management in Ghana.
A press release which announced her appointment, stated that Mrs. Amoah would also be appointed to the Executive Management Team of Aker Energy AS in addition to heading the country office of Aker Energy in Ghana.
The statement the new country Director would also work closely with affiliated companies AGM Petroleum Ghana Limited (“AGM”) and Aker Ghana Investment Company (“AGIC”) in Ghana, two companies with the same majority owner as Aker Energy, and hold directorships in both companies.
Mrs. Amoah, a Ghanaian citizen, is a lawyer by training and holds degrees in law and political science, a master’s degree in international business, and awaits the award of a postgraduate diploma in strategy and innovation.
Prior to joining Aker Energy, Mrs. Amoah was a Senior Foreign Lawyer at Clifford Chance in Germany, one of the largest law firms in the world.
Mrs. Amoah takes over from Mr. Jan Helge Skogen, who has held the role of Country Manager since May 2018 and has been instrumental in building a strong organisation and foothold for Aker Energy in Ghana.
The statement said Mr. Skogen would stay on as an advisor until 1 March 2020.
Commenting on the appointment, Svein Jakob Liknes, CEO of Aker Energy AS, said: “We are very pleased to strengthen our team and presence in Ghana with Kadijah as the Country Director of Aker Energy in Ghana. With Kadijah’s experience, I am confident that she will lead with success as we move towards the development phase of the Pecan project offshore Ghana.”
“Since Jan Helge took on the role in 2018, the mandate was to establish a strong foundation for further growth whilst identifying a long-term, Ghanaian successor. As the company enters a new phase, it was natural to effectuate the leadership transition. I would like to thank Jan Helge for his remarkable effort and commitment over the past two years. When stepping down as Country Manager, he is now concluding a long and notable career within the oil and gas industry, including various assignments as country manager across the globe,” Mr. Liknes said.
On her part, Mrs. Amoah said: “I am extremely pleased to join Aker Energy at such an important stage of the company’s history. Building on the Aker group’s 180 years’ industrial heritage, Aker Energy will, together with AGM and AGIC, take the lead to develop Ghana’s oil and gas resources and related industries.”
“It all starts with the Pecan project operated by Aker Energy; but this is just the beginning. AGM’s plans to explore and appraise the SDWT block and AGIC’s plans to pursue development opportunities stand as testaments to Aker’s commitment to industry development in Ghana beyond the upcoming project,” she added.
Source: www.energynewsafrica.com
Ghana: National Dialogue On Wood-Energy And Forest Restoration Held
Overharvesting of wood-fuel (fuelwood, charcoal) is a major cause of land degradation in sub-Saharan Africa.
The wood energy pathway in Ghana involves various actors and offers employment to more than two million people, in both urban and rural areas. As of today, 73 percent of the rural population in Ghana relies on wood-fuel for cooking and heating purposes.
In the urban areas this percentage is limited to 25 percent. Besides being used for cooking and heating purposes at the household level and within public institutions (schools, hospitals), wood-fuel is also used for productive, commercial activities such as food processing industries.
Reliance on traditional biomass is quite land-intensive. Supplying a household for one year can require more than half a hectare of land (IPCC, 2019). Wood-fuel overexploitation is often due to a lack of efficient tools/technologies to convert feedstock into fuel or directly into energy.
This situation implies an urgent need for coordinated actions between the wood-energy and Forest Landscape Restoration (FLR) sub-sectors in Ghana. Urgent efforts are needed to deeply modernise and formalise the existing wood-energy pathways, as well as to revise Forest Management Systems, National Reforestation and Afforestation Plans – which include forest landscape restoration and rehabilitation actions, dedicated forest plantations, and plans for native forest conservation.
To this end, a National Dialogue on Wood Energy and Forest Landscape Restoration in Ghana, organised by the United Nations Food and Agriculture Organisation (FAO), ended yesterday.
The two-day event – funded by the German development agency, GIZ, in collaboration with Global Bioenergy Partnership (GBEP) and Forest and Farm Facility – had the objective of raising awareness and dialoguing among stakeholders from both FLR and bioenergy communities on the positive contribution of sustainable bioenergy to FLR and vice versa, with a view to intensifying opportunities for collaboration and developing a joint agenda for action.
The Director-Renewable and Alternate Energy at the Ministry of Energy, Wisdom Togobo, explained to the gathering that biomass and firewood account for 40.5% of the total energy consumed in the country, while charcoal accounts for 17.9% of total energy consumed.
Mr. Togobo juxtaposed this with total electricity consumed, which he indicated is 14.9% – the implication being that charcoal consumption is more than the entire volume of electricity that the nation produces. He indicated that government is determined to reduce the overdependence on wood-fuel by promoting LPG consumption, which is in line with the Paris Agreement that Ghana is party to.
However, considering the urban-rural dynamic of the country, Togobo believes it would be impossible to achieve a total migration to LPG or even electricity.
He noted that to produce one kilogramme of charcoal requires between 6-12 kilogrammes of wood; and observed also that studies show that households want charcoal particularly from the savannah region, which accounts for massive deforestation.
Togobo further said data show that between 2008 and 2018 demand for charcoal went up by more than 40%, and the trend is that households are moving away from firewood to charcoal. He also stated that the manufacturing of charcoal is an income-generating venture for rural households. However, a significant chunk of the profit is eroded by transportation and other logistics costs.
He finally indicated that the Ministry of Energy has developed a Renewable Energy Masterplan and called for support from development partners to realise its propositions.
Source: thebftonline.com
ExxonMobil Corporation Declares First Quarter Dividend
US oil supermajor, ExxonMobil has announced a cash dividend of $0.87 cents per share on the Common Stock, payable on March 10, 2020 to shareholders.
This first quarter dividend is at the same level as the dividend paid in the fourth quarter of 2019.
“Through its dividends, the corporation has shared its success with its shareholders for more than 100 years and has increased its annual dividend payment to shareholders for 37 consecutive years,” the company said in a press statement.
Source:www.energynewsafrica.com
211 Oil, Gas Projects To Start Production In 2020-Report
Globally, about 99 new gas projects and 112 new oil projects are expected to start production this year, a renowned industry research body, Globadata, has revealed.
The Think-Tank however disclosed that oil firms may take investment decisions on projects that would yield return in space of about four years instead of long term projects.
With this development, long term projects in Nigeria, including Shell’s Bonga South-West and Aparo, which is expected to add about 225,000 barrel per day (bpd); Bonga North (100,000bpd); Eni’s Zabazaba-Etan (120,000bpd); Chevron’s Nsiko (100,000bpd); ExxonMobil’s Bosi (140,000bpd); Satellite Field Development Phase Two (80,000bpd), and Ude (110,000bpd) may remain idle if Globadata’s forecast sustains.
These projects estimated to cost around $100 billion, and expected to boost Nigeria’s production by as much as 875,000bpd, and revenue by about $1.5 billion had been in the pipeline amidst brewing tension and dwindling investment in fossil fuels.
While Nigeria is similarly known for long project cycle, Globaldata noted that investors would prioritise faster returns with shorter cycle investments, as the industry moves away from giant developments.
Rigzone, an industry research agency, had quoted senior oil and gas analyst at GlobalData, Anna Belova, as saying: “Projects now go from final investment decision (FID) to first oil/gas in under three to four years, even for larger integrated developments with midstream components.
“Globally, this trend was observed with Zohr in Egypt, which produced first gas only 22 months after the FID, and more recently with Liza in Guyana.”
According to the report 14 ultra-deepwater oil and gas projects were expected to commence production next year, with all but two projects located in Brazil and the United States Gulf of Mexico.
Last year, in a move that took the industry by surprise with the whole process taking only 26 days, Nigeria had signed a new Deep Offshore and Inland Basin Production Sharing Contract (PSC) Act, into law, expecting the development to create additional revenue for the government.
Though Wood Makenzie’s Director, sub-Saharan Africa upstream Oil, and Gas, Gail Anderson, had said: “The toughening of royalty is, relatively speaking, not as bad as investors feared.” He added that the average remaining government share increases by five per cent, but the details published by GlobalData did not raise hope for some of the nation’s pending deep-water projects this year.
Source: Kingsley Jeremiah
Ghana: IES Predicts 2.5% Reduction In Fuel Prices
The Institute for Energy (IES) is predicting about 2.5 percent reduction in fuel prices on the local market in the first pricing window next month.
According to the IES, the next window may be a good time for consumers who have been battered with rising fuel prices over the past months.
The IES attributed the expected decline in fuel prices on the local market to the outbreak of deadly coronavirus in China, which has resulted in less demand for crude oil and for products made from crude oil such as jet fuel because of travel restrictions as well as stability of the Ghanaian cedi against the US dollar.
“The outbreak of the novel coronavirus comes at a particularly bad time for oil prices, which were already under duress from a global supply glut.
“The reduced economic activity in China means less demand for crude oil and for products made from crude oil such as jet fuel because of travel restrictions. Brent crude traded around 3 percent lower on Monday at US$58.88 a barrel, the lowest level since October last year. Brent crude decreased marginally by 4.66 percent from US$66.74 per barrel to close at US$63.63 per barrel on average terms during the period under review,” Raymond Nuworkpor, Research & Policy Analyst with IES said in a statement.
Below is the IES’ full statement
LOCAL FUEL PRICES MUST FALL FOR CONSUMERS REVIEW OF JANUARY 2020 SECOND PRICING-WINDOW
Local Fuel Market Performance
Fuel prices experienced an increment in the Pricing-window under review as predicted by the Institute for Energy Security (IES). The Second Pricing-window of January 2020 saw majority of Oil Marketing Companies (OMCs) adjusting prices at the pump to record a national average price of Gh¢5.48 and Gh¢5.46 for Gasoil and Gasoline respectively. This represents an average of 2.24% and 1.87% increment for Gasoil and Gasoline respectively.
For the Pricing-window under review, Zen Petroleum, Benab Oil, Pacific, SO Energy and Alinco Oil sold the least-priced Gasoline and Gasoil on the local market relative to others in the industry, while Shell sold the most expensive Gasoil and Gasoline; as found by IES Market-scan.
World Oil Market
The outbreak of the novel coronavirus comes at a particularly bad time for oil prices, which were already under duress from a global supply glut.
The reduced economic activity in China means less demand for crude oil and for products made from crude oil, such as Jet fuel, because of travel restrictions. Brent crude traded around 3% lower on Monday at $58.88 a barrel, the lowest level since October last year. Brent crude decreased marginally by 4.66% from $66.74 per barrel to close at $63.63 per barrel on average terms during the period under review.
S&P’s Platts benchmark for fuels shows average Gasoline price decreasing by 5.69% to close at $587.68 per metric tonne, from a previous average of $623.13 per metric tonne; while Gasoil declined by 8.00% to close trading at $562.93 per metric tonne.
Local Forex
Data collated by IES Economic Desk from the Foreign Exchange market shows the Cedi remained stable against the U.S. Dollar, trading at an average price of Gh¢5.62 to the U.S. Dollar over the period under review; same rate of Gh¢5.62 recorded in the first Pricing-window.
PROJECTIONS FOR FEBRUARY 2020 FIRST PRICING-WINDOW
From the 4.66% decline in prices of Brent crude, coupled with the 8.00% and 5.69% considerable reduction in the prices of Gasoil and Gasoline respectively on the international market; the Institute for Energy Security (IES) foresees prices of fuel on the local market dropping by roughly 2.5%.
The expected fall of fuel prices for consumers is a reflection of market fundamentals as accepted in a deregulated market structure.
The next Window may be a good time for consumers who have been battered with rising fuel prices over the past months.
Signed:
Raymond Nuworkpor
Research & Policy Analyst, IES
Ghana: Minority, Majority Fight Over Cost Of Multipurpose Pwalugu Dam Project
The cost of a multi- purpose dam project to be constructed at Pwalugu in the Upper East Region of the Republic of Ghana by the Akufo-Addo administration has generated controversy between the Minority and Majority Members of Parliament.
While the Minority believes the cost of the project is on the higher side and needed renegotiation, the Majority members, on the other hand, see nothing wrong with the cost, thus, rejected call for the renegotiation.
President of Ghana, Nana Akufo-Addo, on November 29, 2019, cut the sod for the construction of the Pwalugu multipurpose dam project.
The US$993 million project, which is being financed solely by the government, will consist of three main components namely, the construction of a hydropower plant, the construction of a solar farm and the establishment of an irrigation scheme covering an area of some 25,000 hectares.
The 60MW power generation component alone is expected to cost the taxpayer some US$366 million.
But, the Minority legislators believe the project is very expensive to the Ghanaian tax payer.
The Minority Leader, Haruna Iddrisu, in an interview with Accra-based Citi FM, said: “I think the proper thing will be for the Committee of Finance and the Committee of Mines and Energy to re-examine this particular request, other than that, you cannot spend 366 million dollars on 60 megawatts of electricity…Ideally, I made a comment that the appropriate thing will be for the committees to re-examine it. We do not just look at terms and conditions but we look at its impact on the economy and the Ghanaian people.”
However, the Majority Leader, Osei Kyei Mensah-Bonsu, responding to concerns of his colleague, said the Minority’s concerns are misplaced.
He argued that the scope of the work to be done warrants the budgeted amount for the project.
“The Minority Leader raised some issues about the cost. On the face of it, one could agree except that when we had to do this Komenda sugar factory, it didn’t relate just to the factory. It related to the parcels of lands that were procured for the cultivation of sugarcane. It is the same thing for the Pwalugu factory. The amount procured is not only for the establishment of the factory but also the procurement of parcels of land and the irrigation to be relayed to all corners of the parcels of land,” he said.
Source: www.energynewsafrica.com
Ghana: Recent Power Outages Not Our Fault – ECG
Ghana’s electricity distribution and retail company, ECG, has attributed the recent power outages being experienced in certain parts of the country to what it described as systemic challenges in the upstream.
ECG is, therefore, appealing to the general public to report outages to the ECG call centre to enable them to expedite action on their concerns.
Some parts of the West African nation, especially in Accra notably: Spintex, Teshie, Dzorwulu, Adenta, Adjiringanor and Weija, have been experiencing intermittent and prolonged power outages.
However, speaking on Accra-based Class FM, Public Relations Manager for ECG, Theresa Osabutey, said the challenges faced by its partners in the electricity value chain, GRIDCo and the Volta River Authority (VRA), over which it has no control, were a major contributing factor to the outages.
“It is due to some system challenges that we had upstream. You know for us, ECG, we get the power and we distribute to our customers but we have other companies that help in the chain of the electricity business; and, so, if they’re having challenges, it will definitely impact us and some of the challenges are things that we do not have much control over”.
She continued that “When it is an outage that we’re going to carry out from ECG, you’ll bear with me that we carry out announcements to the public; we have various types of work that will demand outages, like we want to do maintenance and for that we know, and, so, we carry out announcements.”
She urged electricity consumers to call and report power outages to the ECG call centre to enable the distributor to work on their concerns, since it could be due to a localised fault.
“We always advise customers that any time you’re having such outages in your area, make us aware”, she said.
Source: www.energynewsafrica.com
Ghana: Former Energy Minister Refutes Presidential Ambition Rumour
Former Minister for Energy under the Akufo-Addo-led New Patriotic Party (NPP), Boakye Agyarko has refuted rumours making the rounds that he attempted to pick a form to contest President Akufo-Addo but was refused.
He described the rife rumour as a planned thing by some individuals to create confusion between him and the governing party ahead of the party’s presidential primaries in April 2020.
Two days ago, President Akufo-Addo picked a nomination form to seek re-election when the NPP goes to the polls in April 2020.
On the same day, some radio stations and even some NPP supporters rumoured that Boakye Agyarko also went to pick the party’s presidential nomination form but was refused.
Responding to a whatsApp message to him, Mr Boakye told energynewsafrica.com, that there is no iota of truth in what is making the rounds.
“The story is not true,” he said.
President Akufo-Addo relieved Boakye Agyarko of his post in 2018 in a circumstance that did not sit well with many members of the governing party and Ghanaians, considering his sterling performance in the country’s energy sector.
It was rumoured within the corridors of power, at that time, that Boakye Agyarko had shown interest to contest for the presidency.
Source: www.energynewsafrica.com
Ghana: German Gov’t Funds Construction Of 400KW Waste To Energy Plant In Atwima Nwabiagya
The Germany Government is supporting the Republic of Ghana with an amount of 6 million Euros to establish a 400 KW hybrid waste-to-energy (w2e) power plant to treat urban solid waste in the West African country.
The waste –to-energy power plant will sited in Atwima Nwabiagya in the Ashanti Region.
The project, is expected to help to address the menace of solid waste and also close the carbon cycle by developing the value chain of the process with the production and utilization of compost, which would be sold to farmers to boost agriculture and cut down on mineral fertilizer whilst improving the soil structure.
At a ceremony to launch the project in Accra, capital of Ghana, Ghana’s Minister of Environment, Science, Technology and Innovation, Prof. Kwabena Frimpong –Boateng, said the Plant was expected to be built and operated within four years as a pilot, after which 10 or more are expected to be built within the next 10 to 20 years in different regions.
“We are involving all the universities that are engaged in energy production and the research institutions as well, who are expected to help lay the foundation that would help Ghana build its own energy systems in a few years’ time”, he said.
“It is an environmental and sanitation project, which would help us clean our environment and generate energy that would compromise solar and would involve various sector Ministries, including the Local Government, Agriculture, Education, Energy and Sanitation,’ he added.
The Minister described the project as a reflection of Ghana-German cooperation, which was also tightening relationship between the two countries.
He said the universities had a critical role to play to ensure that Ghana was able to turn its raw materials that were becoming a menace into a better source of alternative.
Mr Christoph Retzlaff, the German Ambassador said the project was being funded by the German government with an amount of six million Euros and would help create 50 new jobs in the Ashanti Region.
“We intend to partner our Ghanaian counterparts to set up 10 more hybrid waste to energy plants in Ghana and these would create about 1,000 new jobs in and be a sustainable solution for the waste disposable problems in the country” he said.
“It would save a lot of emissions and about 800,000 tonnes of harmful emissions could be save each year”.
Source:www.energynewsafrica.com
Senegal: 12 Oil Blocks Offered At First Offshore License Round
The National Oil Company of Senegal, PETROSEN, has offered 12 oil blocks for exploration and production during the official launching of the country’s first ever offshore licensing round.
The launching took place at the MSGBC Basin Summit & Exhibition in Dakar, Senegal.
PETROSEN has planned series of events this year – in London on 20th February and in Houston on 25th February to whip up the appetite of investors.
Companies will be able to submit bids over the coming six months, with final applications delivered to the Ministry of Petroleum and Energy at the latest by Friday, July 31st, 2020.
TGS, leading seismic data company is partnering with GeoPartners on an active 3D seismic acquisition to acquire additional regional data so that interested parties can gain greater subsurface understanding ahead of bid submissions.
This latest stand-alone survey (SN-UDO-19) is located in northern Senegal and is an extension to the recently completed SS-UDO-19 3D acquisition in southern Senegal.
The survey has been designed to illuminate plays in ultra-deep water, enabling explorers to build upon the success the basin has experienced with the Sangomar field, the GTA complex and Yakaar discoveries.
The SN-UDO-19 survey is over 70 percent complete, with fast track data available during the second quarter of 2020. The full data set will be available by Q4 2020.
The Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea Conakry (MSGBC) Basin is home to several recent high-profile oil and gas discoveries, both on and off the shelf.
The palaeo shelf-edge carbonate trend extending south of the Sangomar field and the expanse of prospective area outboard of this to the north and south have led many explorers to the region.
“The launch of Senegal’s landmark license round is a seminal moment in the nation’s hydrocarbon history. TGS is delighted to be able to support this initiative with a full complement of regional data sets that should help E&P companies to de-risk their exploration activities as they seek to take advantage of a world-renowned oil and gas basin,” Rune Eng, executive vice president, Southern Hemisphere at TGS, commented.
Source: www.energynewsafrica.com
Egypt: ExxonMobil Signs Deals For Oil, Gas Exploration In East Mediterranean
US oil supermajor, ExxonMobil, and North African country, Egypt, have signed two oil and gas exploration deals in the Eastern Mediterranean, the Egyptian Ministry of Egypt has revealed.
According to a statement from Egypt’s petroleum ministry, the two exploration deals call for a total investment of at least US$332 million.
Last year, ExxonMobil said that it had acquired more than 1.7 million acres offshore Egypt, adding upstream interests to its downstream business in the country.
The US supermajor bought the 1.2-million-acre North Marakia Offshore block, five miles offshore Egypt’s northern coast and 543,000 acres in the North East El Amriya Offshore block in the Nile Delta.
ExxonMobil, which will be the operator of both blocks with 100-percent interest, plans to start exploration operations this year.
Exxon’s foray into Egypt’s upstream comes at a time of heightened tensions in the Eastern Mediterranean, where Turkey, Greece, and Cyprus are at odds over Turkey’s claim to natural gas resources recently discovered offshore Cyprus.
Source:www.energynewsafrica.com