Page 71 - Vol 28 Issue 29 2019

investment oil

removes Occidental from some of Africa’s The firm announced in January 2020 to reserves. That said, Egypt and Israel
largest plays and prospects. Although that it had noted a 35% increase in recently inked supply and export deals,
negations are still ongoing regarding reserves at the project site, which will so a harmonious future may be on the
blocks, acreages, and resources previously add further importance to Egypt’s horizon.
owned by Anadarko in Algeria, Ghana, position in North African gas supplies.
and South Africa, the Mozambique deal Ultimately, Egypt is aiming at becoming 5. Ongoing exploration in MSGBC
has closed. a major Mediterranean force in natural Basin
Speaking of the deal, Occidental CEO gas supplies, with sites on the Middle East The MSGBC Basin, spanning territorial
Vicki Hillub said: “Given our long history and Europe as end markets. waters between Senegal and Mauritania
of working together productively, I Additionally, in the same month, the on Africa’s Western Atlantic Coast,
am confident we can execute this sale Egyptian Ministry of Petroleum and continues to captivate explorers.
quickly and efficiently. Total has extensive Mineral Resources announced discovery As of May 2019, 168 newfield drilling
experience working in Africa and is well of a new field in the Western Desert. Found operations throughout the basin, which
positioned to maximise value from these by Borg El-Arab Petroleum Company, this covers an area roughly a third of the
assets.” Gulf of Mexico, have
Will this prove a revealed 9 BBOe.
major boon for Total? Over half the volume
Certainly, it makes of discovered
the French giant’s resources are in
position in African Senegalese blocks.
much stronger, The expansive
providing a massive resources found in
geographical spread the Basin’s offshore
of key resources and acreages have
projects throughout drawn a mixture of
the region. international players
4. Egypt to the region. For
continues instance, Cairn
Energy’s plays have
its major gas revealed enormous
overhaul quantities of oil,
Since the discovery Kosmos’ activity
the
of the Zohr Gas Field, discovered offshore
largest
and an overhaul
in
of appropriate gas deposit and
West
Africa
h y dr oc a r bons
legislature, Egypt is so on. Total, BP,
ExxonMobil
and
rapidly positioning
itself as North also have a strong
presence here.
Africa’s major gas
power. However, this area,
rich in promise, is
Eni, the chief explorer and developer latest find’s production output is forecast comparatively underexplored. Further
of the colossal Zohr find, successfully at 7,000 barrels of oil per day, and 10m activity is planned, both in developing
completed a gas production test from cubic metres of gas. existing fields, and discovering new
the field’s last well in December 2019. opportunities. November 2019, for
Its overall current production capacity What’s more, the green light has been instance, saw Norwegian survey service
is roughly 3.2bn cubic feet per day, with given for Shell, Chevron and Mubadala firm TGS declare that it is to set up a 3D
onshore production treatment facilities to begin exploration of offshore blocks seismic survey to cover an area of 5,100
completed ahead of schedule boasting within the Red Sea. square kilometres to scope out further
daily output of 2.3bn cubic feet. Egypt is likely to remain at the forefront of potential. Data will be available in Q4
Away from Zohr, however, there is more North African gas production from 2020 2020.
gas and hydrocarbons activity that makes onwards, although it does have a regional Considering its potential, the MSGBC
Egypt attractive. For example, SDX Energy Mediterranean rival in the shape of Israel
is pioneering its South Disouq gas project to contend with. Basin will remain a major focus of
exploration and analytical attention well
in the Nile Delta with further exploration Israel’s Leviathan play is appropriately
work. named, and a rival for Zohr when it comes into the next decade.

AFRICAN POWER Mining & Oil Review Vol 28, Issue 29, 2019 | 71