Hydropower

Mozambique to collaborate with IFC on new $4.5 bn, 1.5 GW hydropower project

The tender for the Mphanda Nkuwa Hydropower Project was launched on December 13th, 2021.

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The International Finance Corporation (IFC) has announced the signing of a collaboration agreement with Mozambique’s Ministry of Mineral Resources and Energy (MIREME) on the implementation of the 1.5 GW Mphanda Nkuwa Hydropower Project and its associated transmission facilities.

The $4.5bn project will be constructed in Mozambique’s central Tete Province that borders Malawi, Zambia, and Zimbabwe. It will supply power both to the domestic market and to South Africa, and include a 1,300k high voltage transmission line connecting it to Maputo. Commissioning is expected in 2031.

“IFC will work with the government in collaboration with GMNK to structure this important project, including the review of technical design, environmental safeguards, commercial and financial structuring,” the IFC said in a statement.

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Sierra Leone launches 5th Petroleum Licensing Round

The Petroleum Directorate of Sierra Leone officially launched the country’s 5th Petroleum Licensing Round in London today. In total, 63,643km2 of offshore acreage is up for grab across 56 graticular blocks of some 1,360km2 each. A contract area is formed with a minimum of three graticular blocks. The Licensing Round will remain open until September 30th, 2022. It notably follows several announcements related to exploration offshore Sierra Leone earlier this month. On May 10th, Wildcat Petroleum announced it was granted non-exclusive right over 20 blocks offshore Sierra Leone where it will carry out a desktop study using geophysical and geological data. Last week, Innoson Oil & Gas also revealed the results of a third-party evaluation of its concession in the country by Ryder Scott Co, estimating up to 8.2 Tcf of gas and 234m barrels of condensate of P50 estimated un-risked gross prospective recoverable resources there. Sierra Leone has already shown oil deposits during previous exploration campaigns led by Anadarko, Repsol and Tullow Oil. These notably resulted in a few discoveries, though uncommercial ones. They include Venus B-1, Mercury-1, and Jupiter-1 by Anadarko in 2009, 2010, and 2012, and Savannah-1X by Lukoil in 2013.

New study shows 8.2 Tcf potential at Innoson’s oil & gas concession offshore Sierra Leone

Innoson Oil & Gas, part of Nigeria’s IVM Innoson Group, revealed last week the findings of a third-party evaluation conducted by Ryder Scott Co. on its concession offshore Sierra Leone. According to the American engineering and geological consultants, Innoson Oil & Gas’ blocks could contain up to 8.2 Tcf of gas and 234m barrels of condensate of P50 estimated un-risked gross prospective recoverable resources in the Sierra Leonean basin. The Nigerian company had been awarded provisional Blocks 96, 97, 114, 115, 116, 117, 133, 134 and 135 in May 2020. The blocks are in shallow water off the coast of Sierra Leone. They are notably adjacent to the Reconnaissance Permit area that the Petroleum Directorate of Sierra Leone (PDSL) granted Wildcat Petroleum earlier this month. Interest for exploration in Sierra Leone is picking up with several companies currently conducting reconnaissance operations there. The country has already shown oil deposits during previous exploration campaigns led by Anadarko, Repsol and Tullow Oil. These notably resulted in a few discoveries, though uncommercial ones. They include Venus B-1, Mercury-1, and Jupiter-1 by Anadarko in 2009, 2010, and 2012, and Savannah-1X by Lukoil in 2013. In order to assess the potential of its concession, the company notably deployed an earth remote sensing (ERS) method, reducing the need for 2D and 3D seismic and well data. “Asset evaluation, a field development plan and the setup of a data room are vigorously pursued with the immediate objective to engage a farm-in partner,” Innoson Oil & Gas explained in a statement.