Natural Gas

Senegal: 33% up for grab into new Yakaar-Teranga gas project says PETROSEN

The Valaris DS-12 discovered the world-class Yakaar and Teranga gas fields in 2016 and 2017.

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The development of the world-class Yakaar-Teranga gas fields offshore Senegal will welcome a new partner alongside Kosmos Energy and PETROSEN, the national oil company said today.

Earlier this week, Kosmos Energy announced it was increasing its working interest in the Cayar Profond Block from 30% to 90% and assuming operatorship after the exit of bp.

Both fields were discovered in 2016 and 2017 and hold some 25 Tcf of low carbon, high quality gas, making their development attractive for transportation and liquefaction. Kosmos Energy said it was working on a 550 MMscf/d development concept that would provide gas to the domestic market to replace heavy fuel oil in power plant, and export the rest via a new floating LNG (FLNG) unit.

Map: Kosmos Energy

PETROSEN clarified that it would increase its interest to 35% once the fields start producing. Long-term, the view is for Kosmos Energy and PETROSEN to both farm down their interests to a new partner so that the partnership includes PETROSEN (34%), Kosmos Energy (33%) and a new partner that would hold the remaining 33%.

“This structure marks a turning point in the growing influence of the national company who will play a growing role in the ventures in charge of developing the country’s hydrocarbon resources,” PETROSEN said in a statement.

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Nigeria: start of exports from the new Nembe Creek Oil Export Terminal

Nigeria has introduced a new crude oil grade to the international oil markets with the exports of two cargoes of Nembe Crude Oil from the new Nembe Crude Oil Export Terminal (NCOET), NNPC Ltd said. The two initial cargoes of 950,000 barrels each have been exported to France and the Netherlands. Nembe crude is produced from onshore OML 29, operated by the NNPC/Aiteo Eastern E&P joint venture. Oil was previously exported via the Nembe Creek Trunk Line (NCTL) to Shell’s Bonny Oil Terminal. However, recurrent crude theft and pipeline vandalism have made the export route unavailable for months, severely curtailing production from OML 29. The unreliability of the pipeline has also affected Newcross E&P (OML 24), Eroton E&P (OML 18) and BelamOil (OML 55) who all rely on NCTL to access the Bonny Oil Terminal. Nembe crude has a low sulphur content and low carbon footprint due to flare gas elimination, NNPC said. This makes the new grade particularly attractive for European buyers. The oil also has an attractive Assay of API 29, which commands a premium to the global Brenth benchmark. The new export terminal was established following the Nembe Crude Oil Export Terminal, Nembe (Establishment) Order gazette on January 19th, 2021. It relies on the 2 million barrels Galilean 7 floating, storage and offloading (FSO) vessel able to export some 3.6 million barrels of oil every month. The FSO was converted from a crude oil tanker at the Dung Quat Shipyard in Vietnam. Several alternative crude oil evacuation systems have been put in place by operators who used to rely on the Nembe Creek Trunk Line. Newcross E&P put in place the MB Bryanston shuttle tanker with a storage capacity of some 800,000 barrels. Along with nearby producers, the company has been barging crude from OML 24 to the vessel before sending oil to the Bonny Oil Terminal for exports. Last month, Century Energy Services Ltd (CESL) also announced the completion of spread mooring installation at another 2 million barrels FSO, the ELI Akaso. The unit is owned by Energy Link Infrastructure Limited and will help debottleneck production from OML 18.

EGYPES introduces CLIMATECH Challenge for its upcoming 7th edition

Demonstrating a firm commitment to Egypt’s Nationally Determined Contributions and its ambitious target of reducing greenhouse gas emissions by 65% by 2030, the Egyptian Ministry of Petroleum and Mineral Resources announces the launch of the region’s first CLIMATECH Challenge at the seventh edition of the Egypt Energy Show (EGYPES), taking place in Cairo from 19-21 February 2024. The CLIMATECH Challenge serves as a global platform for start-ups to pitch their technological solutions and business models before a panel of influential selection committee members, spotlighting pioneering start-ups with cutting-edge solutions to expedite the energy transition and amplify the role of undiscovered energy innovators in advancing global net-zero targets. Featuring a rich programme of keynote speeches, motivational talks, and panel discussions, the CLIMATECH Challenge will gather global energy industry visionaries, investors, change-makers, and emerging start-ups to showcase their critical innovations and groundbreaking climate technologies. HE Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, commented on the launch of the initiative, stating, “Egypt is accelerating its energy diversification and decarbonisation endeavours in line with Egypt Vision 2030. The world is currently witnessing unparalleled innovation paving the way for a low-carbon future, and we believe start-ups are the trailblazers leading this charge. Through the EGYPES 2024 CLIMATECH Challenge, we aspire to amplify the role of undiscovered energy innovators and shine the spotlight on their contributions in our shared journey towards a more sustainable, net-zero future.” No doubt that,  entries from start-ups worldwide are welcomed , serving the energy transition with modern technologies that are addressing climate change and supporting the shift to clean and sustainable energy sources, including but not limited to decarbonisation, CCUS, hydrogen, circular economy, energy storage and energy efficiency. The application deadline is set for Friday 24th November 2023. For more information about the CLIMATECH Challenge or to submit your entry as a participating start-up, visit www.egypes.com/climatech-challenge.