Mr Afful thanked his two friends for their benevolence.
He urged the indigenes of Ekumfi Eyisam to adhere to all the COVID-19 safety protocols by practising hand washing with soap under running water and also wear nose mask.
Receiving the items, Mr Bengy Biney expressed appreciation on behalf of the chiefs and people of Ekumfi Eyisam to Mr Afful and his friends for the love and good heart they have for the people of area.
He promised that the items would be put to good use in order to prevent the spread of the virus in the area.
Source: www.energynewsafrica.com Ghana: Creg Afful Supports Ekumfi Eyisam To Fight Spread of Covid-19
The Editor of energynewsafrica.com, Michael Creg Afful has donated some items to Ekumfi Eyisam in the Central Region of the Republic of Ghana for use by the people in the town to prevent spread of Coronavirus in the area.
The items include ‘Veronica’ buckets, hand sanitisers, boxes of liquid soap, bundles of tissue paper and an undisclosed amount of money.
Central Region is among the regions which has recorded cases of Coronavirus.
The region’s total cases currently stand at 38.
Presenting the items, Michael Creg Afful, who is a native of Ekumfi Eyisam, said he received a call from Bengy Biney, Chairman of Ekumfi Eyisam Entertainment Committee, that the town folks needed some assistance to be able to prevent the spread of the virus.
He said he willingly agreed to mobilise some items to support and, therefore, spoke to few friends and two of them supported him to acquire the items.
Mr Afful thanked his two friends for their benevolence.
He urged the indigenes of Ekumfi Eyisam to adhere to all the COVID-19 safety protocols by practising hand washing with soap under running water and also wear nose mask.
Receiving the items, Mr Bengy Biney expressed appreciation on behalf of the chiefs and people of Ekumfi Eyisam to Mr Afful and his friends for the love and good heart they have for the people of area.
He promised that the items would be put to good use in order to prevent the spread of the virus in the area.
Source: www.energynewsafrica.com
Mr Afful thanked his two friends for their benevolence.
He urged the indigenes of Ekumfi Eyisam to adhere to all the COVID-19 safety protocols by practising hand washing with soap under running water and also wear nose mask.
Receiving the items, Mr Bengy Biney expressed appreciation on behalf of the chiefs and people of Ekumfi Eyisam to Mr Afful and his friends for the love and good heart they have for the people of area.
He promised that the items would be put to good use in order to prevent the spread of the virus in the area.
Source: www.energynewsafrica.com South Africa: SASOL Hands Over Covid-19 Supplies To City Of Johannesburg
As part of its support for citizens across Gauteng during the current COVID-19 crisis, integrated chemicals and energy company Sasol has donated 1500 litres of hand sanitiser to the City of Johannesburg to be allocated to the most vulnerable facilities.
At a handover ceremony at the City of Johannesburg Regional Offices in Johannesburg, Sasol delivered the 1500 litres of hand sanitiser to the office of the Executive Major, who will in turn allocate these to fenceline places of public interest and activity around the province with the greatest need.
“As the country braces itself for an increase in infections, as well as the resultant influx of patients into hospitals, it is crucial that these facilities are well prepared with adequate volumes of hand sanitisers to mitigate the spread of COVID-19 and other contaminants that could exacerbate the situation,” said Cindy Mogotsi, Senior Vice President: Corporate Affairs at Sasol.
“With some medical centres being less resourced than others, we felt a duty to support those that are most likely to experience shortages due to supply constraints.”
As the number of COVID-19 cases continue to rise in South Africa, general hand hygiene remains an effective line of defence against the pandemic.
In mid-April, Sasol and its partners delivered a bulk shipment of hand sanitiser liquid to Chris Hani Baragwanath Academic, Charlotte Maxeke Academic, Helen Joseph and Leratong hospitals. Sasol and its partners worked with hospital managers to establish innovative ways to address the growing need for sanitiser in a sustainable way.
Sasol also donated thousands of gloves, soaps and masks to destitute communities across all seven regions of the City of Tshwane, the City of Ekurhuleni and the taxi industry in Gauteng.
Later this week, week, the company will deliver an additional 1500 litres of hand sanitiser to the Gauteng Department of Health, as well as sanitiser to the Department of Education.
This will be in anticipation of the reopening of schools and the additional hygiene protocols that will be required.
“As the National Lockdown is lifted, we anticipate large-scale hygiene interventions and expect to be inundated with requests, especially from schools and medical facilities, where children and sick people will be expected to spend long hours in high density and congested conditions,” added Mogotsi.
Source:www.energynewsafrica.com
Ghana: ACEP Supports Ghana Blind Union With PPE To Fight Spread Of COVID-19
The African Centre for Energy Policy (ACEP), an energy think tank in the Republic of Ghana, Covid-19 prevention educational material in Braille, along with some ‘Veronica Buckets’, nose masks and plastic buckets, to the Ghana Blind Union (GBU) at the Accra Rehabilitation Centre.
In an interview with energynewsafrica.com after the presentation, Head of Programmes at ACEP, Alhassan Iddrisu said the cost of the materials, together with ‘Veronica’ buckets and other protective equipment, amounted to twenty-four thousand Ghana Cedis (Ghc24,000).
He said they realised that persons with disabilities such as the blind, among others, were left out of the numerous educational and sensitisation interventions by the government and corporate bodies, companies and organisations that donated cash and PPE in the quest to fight the Covid-19 pandemic in the country.
This, Iddrusu said, motivated ACEP to collaborate with the Ghana Blind Union to invest into the production of braille educational materials to sensitise and educate persons with blindness about the devastating effect of the Covid-19.
According to him, ACEP had championed the distribuion of the materials in almost all the regional capitals to facilitate education and sensitising persons with disabilities in Ghana.
“Any approach to address any issue must not be discriminatory. It must be comprehensive and we noticed this gap that of all the sensitisation materials and education programmes, there is no braille, that is, the reference materials for persons with blindness. So we collaborated with the GBU to produce braille sensitisation materials,” he explained.
The ACEP Programmes Head said persons with blindness needed to know about the government’s cushion of paying the water bills of all Ghanaians for April to June and part for electricity consumers for same period, so they could take advantage of the situation in the mist of the pandemic.
In his remarks, the Executive Director of the Ghana Blind Union (GBU), Dr Peter Obeng-Asamoa expressed appreciation to ACEP for the gesture.
He said his members would make good use of the braille materials for education and sensitisation of persons with blindness in the country.
“Social distancing is key in dealing with the Covid-19 but since we cannot see, we need to spend more to get those who aid us to walk by proving double to meet this criteria,” he lamented.
He called for the government’s swift intervention to assist them to live a little more comfortably.
Dr Obeng-Asamoa noted that some of his members who had started small businesses have had to abandon them because of the Covid-19, thus, making life uncomfortable for them.
He appealed to the benevolent bodies and corporate institutions to also come to their aid.
Source:www.energynewsafrica.com
“Any approach to address any issue must not be discriminatory. It must be comprehensive and we noticed this gap that of all the sensitisation materials and education programmes, there is no braille, that is, the reference materials for persons with blindness. So we collaborated with the GBU to produce braille sensitisation materials,” he explained.
The ACEP Programmes Head said persons with blindness needed to know about the government’s cushion of paying the water bills of all Ghanaians for April to June and part for electricity consumers for same period, so they could take advantage of the situation in the mist of the pandemic.
In his remarks, the Executive Director of the Ghana Blind Union (GBU), Dr Peter Obeng-Asamoa expressed appreciation to ACEP for the gesture.
He said his members would make good use of the braille materials for education and sensitisation of persons with blindness in the country.
“Social distancing is key in dealing with the Covid-19 but since we cannot see, we need to spend more to get those who aid us to walk by proving double to meet this criteria,” he lamented.
He called for the government’s swift intervention to assist them to live a little more comfortably.
Dr Obeng-Asamoa noted that some of his members who had started small businesses have had to abandon them because of the Covid-19, thus, making life uncomfortable for them.
He appealed to the benevolent bodies and corporate institutions to also come to their aid.
Source:www.energynewsafrica.com Ghana: Former Tema Oil Refinery MD Denies Planning To Contest For President
A former Managing Director of the Ghana’s Tema Oil Refinery (TOR), Isaac Osei has categorically denied media reports suggesting that he is an eye to contest the country’s sitting President, Nana Akufo-Addo, for the New Patriotic Party (NPP) flag-bearer slot for the 2020 general elections.
The report suggested that Mr Osei made his political ambitions known to some close confidantes during a meeting.
The report also said the former MP for Subin in the Ashanti Region, may break away from the NPP and form his own party should he lose the presidential primaries.
Mr Isaac Osei resigned as Managing Director of TOR in December 2019. The reasons for his resignation have since not been known.
He is the second person from the NPP who has been rumoured of planning to contest the President.
The first person who was rumoured of planning to contest the President from his party was the former Minister for Energy, Boakye Agyarko, a claim he had refuted.
Speaking on the issue for the first time, Mr Osei laughed off over the claims, describing them as untrue.
“How do I contest the leader of the political party that I belong to?” he quizzed, adding: “I have full confidence in Akufo-Addo and I know he is going to win the 2020 election. I will not be a contestant in the election.”
He further stated: “I believe firmly in the principles of which the New Patriotic Party was founded; I have been a member since 1992 and I’m not about to stop. I will not quit the NPP to go and form a party or join any other party because, in my view, it is the best party we have in this country.”
He expressed the strong conviction that some faceless elements are on a mission to tarnish his image.
The governing New Patriotic Party (NPP) slated its Presidential and Parliamentary elections for April 25, but the party has postponed it to a yet to be announced date due to the outbreak of the Coronavirus.
Source: www.energynewsafrica.com
Ghana: Two Fuel Tankers, Two-year-old Boy Burnt At Apremdo
A fire outbreak at Apremdo, a suburb of Takoradi in the Western Region of the Republic of Ghana, has left two fuel tankers completely burnt to ashes with a two- year-old boy reportedly dead.
According to eyewitnesses, the two diesel tanker drivers went to discharge fuel consignment to a yet to be identified fuel station, but after discharging, went to Apremdo to sell the surplus to some wayside dealers in the area.
They explained that in the course of siphoning the surplus fuel, the tankers caught fire burning them into ashes.
The fire caught a nearby kiosk burning a two-year-old boy who was asleep in the structure.
“We can’t tell whether the fire was from the local restaurant (chop bar) in the area,” an eyewitness said.
The fire also destroyed over seven container stores.
Some eyewitnesses, who spoke on a local radio station, Adom FM, blamed the personnel of the Western Regional Fire Command for failing to respond early to their distress calls.
According to them, they made distress calls to the fire station which is close to the scene but they arrived an hour later.
They claimed that when the fire fighters arrived, the latter for about an hour before said they had no water in the fire tender to douse the inferno.
The cause of the fire outbreak, which took the Fire Service personnel over an hour to bring under control, is still unknown.
The Western Regional Fire Command PRO, DO3 Emmanuel Bonney, commenting on the incident, said: “The boy who was burnt into ashes was sleeping in one of the mobile money sales containers when the fire broke out.
“We are now trying to get the auntie to confirm if the boy is a relation,” he concluded.
Source:www.energynewsafrica.com
According to them, they made distress calls to the fire station which is close to the scene but they arrived an hour later.
They claimed that when the fire fighters arrived, the latter for about an hour before said they had no water in the fire tender to douse the inferno.
The cause of the fire outbreak, which took the Fire Service personnel over an hour to bring under control, is still unknown.
The Western Regional Fire Command PRO, DO3 Emmanuel Bonney, commenting on the incident, said: “The boy who was burnt into ashes was sleeping in one of the mobile money sales containers when the fire broke out.
“We are now trying to get the auntie to confirm if the boy is a relation,” he concluded.
Source:www.energynewsafrica.com Ghana: WAPCo To Undertake Planned 10-Hour Shutdown Of Its Tema Facility
The West African Gas Pipeline Company Limited (WAPCo) has announced that it will undertake a coordinated and planned 10-hour shutdown of its Tema Regulating and Metering Station (RMS) to complete outstanding works under the Takoradi- Tema Interconnection Project (TTIP).
“The shutdown will take place on Sunday, May 10, from 4am to 2pm and there will be no gas supply to customers in Tema during the period,” a statement signed by Kwasi Agyeman Prempeh said.
According to the company, the shutdown is critical for the completion by Eni Ghana of the last remaining items of the ongoing TTIP project that earlier in March had expanded the capacity of WAPCo’s Tema RMS to 235MMscfd.
This shutdown is supported by the Ministry of Energy (MoE) and coordinated with Ghana Grid Company Ltd (GRIDCo), the Volta River Authority (VRA), the Ghana National Petroleum Corporation (GNPC), Electricity Company of Ghana (ECG) and various power plants to minimise the impact to the communities that rely on power generated from cleaner and more efficient gas transported through the West African Gas Pipeline (WAGP) system to Tema. WAPCo will support Eni Ghana to safely and efficiently execute these repair works within the stipulated period.
“WAPCo wishes to apologise to its customers in Tema for the inconvenience caused by the shutdown and promise that gas supply would be immediately restored after completion of the project works by Eni Ghana,” the statement concluded.
Source:www.energynewsafrica.com
Djibouti: MIGA Supports First Utility-Scale Wind Project
The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees that will support the design, development, construction, operation, and maintenance of Djibouti’s first utility-scale wind project.
The guarantees amount to $100.81 million and cover up to 90% of investments made and future earnings in the Project for up to 20 years.
The guarantees will provide protection against Currency Inconvertibility & Transfer Restriction, Expropriation, Breach of Contract, and War & Civil Disturbance.
The guarantees were issued to Djibouti Wind Company Ltd to benefit Africa Finance Corporation and Construction Equity Fund, a blended finance facility managed by Climate Fund Managers.
The project, which represents the country’s first independent power producer (IPP), consists of a 58.9MW wind farm in Ghoubet, along with interconnection facilities located in the Arta Region (between Lake Assal and Djibouti City).
Once operational, all electricity generated will be sold by the Red Sea Power Limited SAS to the Djiboutian state-owned national electricity utility, Electricite de Djibouti, under a 25-year Power Purchase Agreement.
“Increasing Djibouti’s energy independence is critical to the country’s long-term growth strategy, despite the global uncertainty arising from the coronavirus pandemic,” said MIGA Executive Vice President Hiroshi Matano.
Matano added: “This new wind farm, therefore, represents a key step forward for Djibouti and its efforts to power a more sustainable future.”
In addition to its own resources, MIGA is using the International Development Association’s MIGA Guarantee Facility to provide a first-loss layer in support of the project.
The MGF helps bridge gaps where the market and MIGA-arranged capacity are insufficient or unavailable to crowd in private investment.
The wind energy project will decrease emissions by approximately 154,526 tons of carbon dioxide equivalent per year when in operation.
This aligns with the country’s Vision Djibouti 2035, which aims to transition from complete reliance on domestic thermal energy in 2010 to 100% renewable electricity sources by 2030.
The project will also provide a stable source of electricity increasing accessibility and establishing a more ideal environment for businesses.
“We are pleased to see this pioneering wind farm move into construction, having been developed by CIO and its partners since 2017,” said Andrew Johnstone, CEO of CFM.
Johnstone continued: “The innovative project financing structure and effective risk mitigation structures implemented by MIGA and the project developers brings to reality a first of kind project in Djibouti, which will materially contribute to the CO2 emission avoidance ambitions of the government of Djibouti whilst also providing access to an attractive risk moderated investment opportunity for international climate oriented institutional investors.”
Only half the population in Djibouti has access to electricity, and the country relies heavily on electricity imported from Ethiopia and ageing fossil fuel-powered generators.
Djibouti has also experienced a consistently low rate of foreign private investment—with many companies citing lack of electricity being the main constraint they face.
MIGA’s private sector guarantees and the wind project will help to improve private sector confidence and mobilise further foreign private investment in the country.
Source:www.energynewsafrica.com
Ghana: COVID-19: GOIL Donates Items Worth Over Gh¢50,000 To Police Hospital
Ghana’s leading indigenous oil marketing company, GOIL Company Limited, has donated personal protective equipment and medical items worth GHS 50,000 to the Police Hospital in Accra, to enable them fight the spread of the novel Coronavirus pandemic.
The Police Hospital is the latest to receive donation from GOIL as the indigenous OMC continues to assist health institutions and frontline staff in the fight against the dreaded pandemic.
The items included medical scrubs, face masks, bed sheets, ‘Veronica’ buckets, liquid soap, tissue, hand sanitizers and gloves.
Making the presentation, the Group CEO/MD, Kwame Osei Prempeh noted that GOIL has already donated similar items to other institutions including the 37 Military Hospital, Komfo Anokye Teaching Hospital, GPRTU, Ashaiman Polyclinic and the National COVID-19 Trust Fund.
He said GOIL would continue to play its role as an important partner in the fight against the spread of the virus as part of its corporate social responsibility adding that the company would be of benefit to Ghanaians as the biggest and indigenous OMC in the country.
“GOIL will continue to partner and collaborate with the Ghana Police Service in the uninterrupted supply of fuel to the Police Service and other security services,” Mr Kwame Osei Prempeh added.
The Medical Director of the Police Hospital, DCOP, Dr Mrs. Marian Korboe, who received the items on behalf of the hospital, expressed gratitude to GOIL for the kind gesture.
According to her, the donation has come at the right time to help address the COVID-19 disease, specifically, to help the frontline staff to deliver effective services to the affected people.
Dr Korboe recalled GOIL’s assistance last year towards the rehabilitation of the Executive Ward of the hospital and thanked the company for its continued assistance.
Source: www.energynewsafrica.com
Source: www.energynewsafrica.com
Ghana: VRA’s Engineer’s Death- The Inside Story
Staff of Ghana’s largest hydropower producer, Volta River Authority (VRA), are mourning the death of one of the finest engineers of the company.
Eric Dogbey, 47, an engineer of Volta River Authority (VRA) at the Kpong Generation Station in the Eastern Region, died in a strange circumstance on Saturday, May 2.
Initial media reports suggested that Eric Dogbey was driving an unregistered Toyota Corolla vehicle at a top speed with one occupant from Juapong to Akuse when he had an accident and died.
However, energynewsafrica.com’s sources within VRA indicated that Mr. Dogbey left the company’s Kpong Generation Station and was heading to Akuse where he lived.
They continued that the late Eric had two occupants onboard-one seated at the front seat while the other sat behind him.
According to the sources, Eric Dogbey stopped the vehicle few metres after VRA security check point near the Kpong Farms, and the occupant at the front seat alighted leaving the one at the rear.
Energynewsafrica.com’s sources revealed that few minutes after the occupant, whose name is not yet known had alighted, the vehicle suddenly sped off, crossed the road to the opposite lane and run into a canal by the roadside.
Both sustained serious degree of injuries and were rushed to the Akuse Government Hospital for treatment, but Eric Dogbey was pronounced dead on arrival.
According to sources, the other occupant who sustained injuries is still on admission and is responding to treatment.
Contrary to reports that Eric Dogbey died because of accident, it emerged that he was shot, leading to his death.
Doctors at the Akuse Government Hospital, where Eric Dogbey was taken to for treatment, detected that there was one entry gun shot at the right back close to his side ribs.
“The gun shot was within the vehicle as the windscreens were all rolled up,” one of the sources explained.
It is unclear who might have shot him, but energynewsafrica.com’s sources averred that looking at the direction of the gun shot it couldn’t have been Mr Eric Dogbey who shot himself.
Preliminary investigation suggest that it was the excruciating pain of the gun shot that terrified the deceased to step on the accelerator which caused the car to move uncontrollably.
Eric Dogbey is said to be one of the most experienced and huge pillar in the practise of engineering in the Kpong Generation Station of VRA.
The body of the deceased has since been deposited at the mortuary.
Investigations into the incident is ongoing by the Akuse police.
Source: www.energynewsafrica.com
South Africa: SANEDI Urges Industries To Practice Energy Efficiency To Avoid Loadshedding
The South African National Energy Development Institute (SANEDI) is urging industries that will resume operations this month, to adhere to energy efficiency practices in order to avoid loadshedding.
As of 1 May, South Africa entered into Stage 4 of the COVID-19 lockdown restrictions, with the mining industry and other companies permitted to start operations.
Across the globe, electricity demand has declined by an estimated 15% due to lockdown and confinement measures.
In South Africa, the lockdown has led to a drop of 30% in energy demand (7,500MW a day) as energy-intensive mining and manufacturing industries, which account for about 60% of national consumption, have not been fully operational.
SANEDI warns that the phased unlocking of the economy coupled with imminent colder winter months, will lead to an increase in energy consumption and subsequent strain on the power grid.
“We must at all costs avoid moving into another bout of loadshedding, which we experienced prior to lockdown,” Nkululeko Buthelezi, interim chairperson of SANEDI said.
The organisation stresses that loadshedding will have a devastating effect not only on the recovering economy, but also on the health services such as quarantine and isolation facilities, as well as those convalescing at home.
“We, therefore, encourage all South African households and businesses to use energy wisely, to avoid unnecessary wastage of this valuable resource. Where possible, energy-efficient practices must be implemented to lessen the strain and optimise usage,” Buthelezi emphasised.
The best energy efficiency advice is to always ensure that energy-consuming appliances and devices that are not in use, are switched off.
Other easily implementable and short-term attainable energy efficiency practices include switching over to energy-saving LED globes, using LPG (liquefied petroleum gas) gas for cooking and heating.
As well as always purchasing energy-efficient appliances, which are clearly indicated in the form of an Energy Efficient Appliance Label, displayed on most domestic appliances for sale, when allowed to do so under the lock-down Regulations.
“We must emphasise the need for everyone to work together, just as we have stood together as a nation, to fight the virus. We urge people to switch-off non-essential appliances and to become more aware of how we use energy over the next few months,” Buthelezi concluded.
Equatorial Guinea Extends Oil And Gas Exploration Licenses By Two Years
Equatorial Guinea’s Ministry of Mines and Hydrocarbons has announced that it will extend exploration licenses for two years and relax capital expenditure requirements for E&P companies amid the low-price climate and reduction in oil demand caused by COVID-19.
The extension of time and resources will particularly aid U.S companies, which represent the lion’s share of investment in Equatorial Guinea’s energy sector and are currently in the early stages of exploration and seismic interpretation of several key offshore blocks.
“We learned from the crisis in 2014/2015 that we need to give extensions to exploration companies to ensure that they save cash,” Gabriel Mbaga Obiang Lima, the Minister of Mines and Hydrocarbons stated.
He continued that: “Liquidity is very important right now. The last thing we want is for [companies] to decide that it is not economical to operate in-country.”
Retaining key explorers and producers in-country reflects Equatorial Guinea’s broader priority to drive global investment into the country, as encapsulated by its 2020 Year of Investment campaign.
Targeting $1 billion dollars in FDI, the year-long initiative, led by the Ministry of Mines and Hydrocarbons, advances the country’s agenda of energy cooperation and investment, fortified by several landmark energy deals to be signed in 2020.
Dallas-based Kosmos Energy will receive an extension to analyse regional data and continue geological surveys of its interests in four offshore exploration blocks (EG-21, EG-24, S and W), with a view to resuming drilling programmes and yield discoveries in 2021.
Houston-based VAALCO Energy will also receive an extension to develop strong prospects identified in offshore Block P, in which it holds a 31% participating interest.
African independent Atlas Oranto, which recently established an outpost in Houston, will continue its development of Block H, in which Phase 1 of the production-sharing contract has been completed and the highly prospective Aleta asset has been identified.
The Nigeria-based explorer also holds a stake in Block EG-02, in which initial interpretation of seismic survey indicates some of the largest hydrocarbon reserves in the region and depicts similarities to discoveries in Blocks I and O in the Douala Basin.
Simultaneous inversion of pre-stack seismic data, along with coherence and spectral decomposition processing has been completed, resulting in the identification of a major upper cretaceous deep-water fan system, comparable to the Liza discovery offshore Guyana.
While some elements of work programmes will be delayed by COVID-19, other key energy projects remain on track, such as Noble Energy and Marathon Oil’s Alen backfill project.
According to the Africa Oil & Power Conference, pipelines for the development have already been installed, and gas feed from the Alen and Aseng fields to onshore processing facilities at the EG LNG Plant in Punta Europa is set to come online by November.
Source:www.energynewsafrica.com
Equatorial Guinea: Ministry Takes Bold Steps To Boost Exploration And Production Amidst COVID-19 Pandemic
Equatorial Guinea has signed a new Ministerial Order extending all exploration blocks across its sedimentary basin for two years, taking a strong initiative to support oil companies exploring and producing oil and gas in the Gulf of Guinea.
The order demonstrates Equatorial Guinea’s foresight when it comes to creating an enabling environment for E&P companies amidst current market conditions, and laying the ground for a strong recovery of the sector post-COVID-19.
Under the new measures taken by the Ministry of Mines and Hydrocarbons, exploration companies will benefit from extensions to carry out their seismic and exploratory drilling activities, and producing companies will be benefitting from capital expenditures relaxations.
By allowing for the deferral of some work programs, companies can readjust their expenditures and project’s execution accordingly, and plan for more efficient investments as markets continue to recover.
This is a very strong step in the right direction for the oil & gas sector of Equatorial Guinea, and one that echoes the African Energy Chamber’s Common-sense Energy Agenda released last week on www.EnergyChamber.org.
“Alongside key international partners like the IAGC, the Chamber will continue working with African governments and regulators to embrace our commonsense agenda, and support the industry to ensure that Africa comes out stronger,” declared NJ Ayuk, Executive Chairman at the African Energy Chamber.
“Equatorial Guinea has adopted a market-driven attitude and approach to the current industry challenges, which we believe is a winning strategy to ensure a quick recover of our economies. We strongly encourage neighboring countries to continue their efforts and work with local and international companies to put the right measures in place to support their own industries,” he concluded.
American independents are particularly excited about these new measures. Vaalco Energy, which holds a 31% working interest in Block P, has now a chance to properly regroup and plan for an on-track development of the acreage. Similarly, Kosmos Energy, which operates Blocks W, EG-21 and EG024, can now continue to study the block’s geology under a revised timeline and plan for additional surveys and drilling expenditure on a regional level. As the backfill project continues offshore, Noble Energy is also likely to welcome such policies that give more flexibility in the exploration and production of offshore gas in the country.
African independents like Atlas Oranto Petroleum, which has set up a Houston outpost, will also continue doing work on Blocks H and EG-02. Such acreages contain deposits and fields that have large hydrocarbons prospects comparable to those discovered in Guyana by ExxonMobil.
Mapping of key horizons within EG-02 is now completed and the block promises a strong potential after completion of pre-stack Simultaneous Inversion, Coherency and Spectral Decomposition Processing. Results have been very encouraging and a major upper Cretaceous deep-water fan system has been clearly identified, with Guyana’s Liza field as a potential analogue.
Source:www.energynewsafrica.com
Mitigating Risks In The Current Industry Crisis: The Actions Oil Sector Companies Need To Take (Article)
The compounding effects of the corona virus and oil industry disruptions pose unique and significant challenges, particularly on the African continent where the economies of producing countries are largely dependent on oil revenues. The budgets of countries like Nigeria, Equatorial Guinea and Angola have been made mostly impractical and with annual budgetary goals now unachievable due to these unprecedented events. Nigeria, the continent’s most populous country and its largest oil producer, is expected to cut its 2020 national budget by $4.9 billion. That budget was prepared based on the estimation of crude prices at $57/barrel. With the Brent price at slightly over $20 today, the country is most probably headed towards a recession, absent quick and miraculous interventions like the discovery of a COVID-19 vaccine.
As more countries remain locked down and businesses remain shut because of the pandemic, the demand for oil will remain low, leaving prices equally low. The continuing disruption in the industry distribution chain and the businesses of international oil and gas companies which the African oil market relies heavily on has caused a direct and immediate impact on the local market. Oil and gas producers and service companies from Port Harcourt, Luanda to Juba and emerging producers like Senegal and Mozambique are now faced with a myriad of financial and legal issues. Oil projects have either been suspended, like in the case of BP which issued a force majeure notice to delay taking delivery of the LNG facility for the African Tortue Ahmeyim project in Senegal; or simply terminated like the Tullow Deepwater drillship contract in Ghana.
It is now critical for companies operating in the African oil and gas sector to assess the impact of the pandemic and industry disruptions on their local operations and contractual obligations. With no end in sight, companies need to consider and take all necessary actions to mitigate all associated risks.
I have identified below some crucial issues relating to contracts and local operations.
- Contracts (including Production Sharing, Joint Venture, Service and other Financing Contracts)
- Both parties’ capacity to fulfil capex commitments in joint venture or production sharing contracts;
- Crude prices and global demand for crude which will affect future receivables;
- Ability to obtain other financing post covid-19;
- Political and economic stability in host country;
- Any changes in law that affect the stability of the current contract;
- Local content obligations; and
- The opportunity cost of the deal.
- Tax implications and reliefs
- Force Majeure Provisions
- Employment and Employee Safety
Zambia: ZESCO Limited Loses Over $90K To Vandalism In Q1 Of 2020
ZESCO Limited, formerly Zambia Electricity Supply Company, has recorded a total of 261 cases of vandalism in the first quarter of 2020.
The cost of the vandalism is estimated at 1,657,267.03 Zambian Kwacha (US$ 90, 489.13).
The most vandalised items were Transmission towers, transformers and copper cables (overhead service and underground cables).
The highest number of incidences were recorded on the Copper belt, Southern, North-Western and Lusaka provinces.
“As a corporation we are saddened by this development as it is detrimental to the development of the energy sector and the country at large. As you know electrical equipment involves huge amounts of money and investments and any acts of vandalism is retrogressive and takes the corporation and the country backward,” Hazel M. Zulu (Mrs.) Public Relations Manager ZESCO Limited said in a statement.
“We therefore want to send a stern warning to perpetrators of such vices that ZESCO will not relent in ensuring that the culprits are arrested and brought to book,” the statement added.
It is also important to note that ZESCO recorded a total of 47 arrests in the period under review.
In addition, the corporation successfully secured 12 convictions while 41 cases are still active in the Courts of Law.
“As a Corporation, we remain committed to ensuring that we ‘make it easy for people to live a better life’ as we continue to work vigorously to bring these vile acts to a halt. Our call to the public is to join the fight against vandalism and report any such acts to the police service to ensure that the institution continues to provide sufficient and quality electricity to all its citizens,” the statement concluded.
Source:www.energynewsafrica.com