The Energy Republic September Edition

AFRICAN ENERGY STORIES
VAALCO Energy has released the
progress reports on its field
development and facilities
overhaul program in the Etame license
offshore Gabon. According to the
report, VAALCO Energy has successful
drilled the South Tchibala 1HB-ST well
that was drilled from the Avouma
platform in the Etame field, offshore
Gabon.
George Maxwell, VAALCO’s Chief
Executive Officer, commented, "With
the drilling of the South Tchibala 1HB-
ST well and completion in the Deep
Dentale interval, VAALCO will add new
reserves and production that were not
previously in our 2P reserve base.
Additionally, there is the D9 sand that
will remain cased as we produce out of
VAALCO Energy Releases Progress Report
on its Field Development Campaign at Etame
offshore Gabon is analogous to the Deep Dentale producing field
the D1 that could be tested or completed in
the future. This discovery is analogous to
our producing Dentale in North Tchibala.
The continued success of our drilling
campaign further demonstrates the quality
of our premier Etame asset. We expect the
well to be online in June and will provide the
market with an update when we have initial
production data.”
Highlights
3Discovered significant columns of
multiple hydrocarbon bearing sands in the
Dentale;
3Completing the Dentale D1 sand (18
meters net hydrocarbons) interval, which
in North Tchibala with similar porosity and
permeability.
3Additional cased Dentale D9 (15 meters net
hydrocarbons) interval can be tested and
completed in the future.
3Penetrated a thin section of the Gamba sand
that is not economically viable to complete in this
wellbore. Evy Maffini
3Adds new reserves that were previously not
captured in VAALCO’s 2P reserves, upon successful
completion and first production, these reserves
will be additive to VAALCO’s 1P reserves.
3Potentially adds new future drilling locations in
the Deep Dentale trend across the Etame block;
and
3Currently completing the South Tchibala 1HB-ST
well with initial production expected in June.
Masdar and TANESCO to develop renewable projects
in Tanzania
Masdar, one of the world’s leading
renewable energy companies, has
signed an agreement with Tanzania
Electric Supply Company Ltd. (TANESCO) for the
development of renewable energy projects
with a total capacity of up to 2 gigawatts (GW).
Abdulla Zayed, Head of Business Development
& Investment at Masdar and Maharage Chande,
Managing Director of TANESCO, signed the Joint
Development Agreement (JDA) on the sidelines
of the Tanzania Energy Congress in the presence
of Hon. January Makamba, Minister for Energy
for Tanzania. The JDA envisages the
establishment of a co-owned joint venture (JV)
company by the two organizations to progress
the project development.
Maharage Chande, The Executive Director of
TANESCO, said: “The agreement we are signing
today will bring about a big revolution in the
development of renewable energy in the
country. Through the first phase of the
collaboration, we expect to generate
approximately 600 megawatts, and we will
continue with other projects until we reach
2,000 megawatts.”
Abdulla Zayed, Head of Business Development
& Investment at Masdar, said: “Masdar and
TANESCO are working together to support
Tanzania’s sustainable development and to
provide a secure, clean source of energy for the
people of Tanzania. The signing of this
a g r e e m e n t d e m o n s t r a t e s M a s d a r ’s
commitment to the Tanzanian market and to
the nation’s energy transition, supporting the
target to reach 5,000 MW capacity by 2025. We
look forward to working with TANESCO to
develop this ambitious program and to provide
a clean pathway for growth for Tanzania.”
Through the JV, the two companies are initially
targeting the development of renewable
energy projects with a capacity of about 600
megawatts (MW) starting with solar
photovoltaic (PV) and onshore wind.
AfCFTA, AFDB Signs Agreement for $11 million Institutional
Support Project
The African Continental Free Trade
Area (AfCFTA) Secretariat and the
African Development Bank’s African
Development Fund, has signed a Protocol of
Agreement to formalise their shared
commitment towards the effective
implementation for the AfCFTA Agreement.
The Secretary-General of the AfCFTA
Secretariat, His Excellency Wamkele Mene and
the African Development Bank’s Acting Vice
President for Regional Development,
Integration and Business Delivery, signed the
Protocol of Agreement for the grant of $11.24
million for AfCFTA implementation at the
margins of the 9th Meeting of the AfCFTA
Council of Ministers Responsible for Trade in
Accra – Ghana.
H.E. Wamkele Mene said: “We welcome the
support of the Bank as this is a clear indication
of our strategic partnership that will strengthen
the capacity of the Secretariat and facilitate the
start of commercially meaningful trade under
the AfCFTA preferences. The COVID-19
pandemic and the current geopolitical tensions
have created an ethos of urgent collective
action for the implementation of the AfCFTA.
We all have a shared responsibility to change
the destinies of all Africans as we achieve the
laudable objective of the AfCFTA.”
“The African Development Bank is proud of the
strong partnership with the AfCFTA Secretariat
and confident that this institutional support will
enable our respective mandates to spur greater
c o n t i n e n t a l t r a d e a n d e c o n o m i c
transformation, in line with Agenda 2063’s
vision of the Africa we want,” Mrs. Yacine Fal,
Acting Vice President of Regional Development,
Integration and Business Delivery said. “Africa’s
hope for building back strong and better lies
with the successful implementation of the
AfCFTA.”
The African Continental Free Trade Area
(AfCFTA) is one of the flagship projects of
Agenda 2063: The Africa We Want and entered
into force on 30 May 2019. It is a high ambition
trade agreement, which aims to bring together
all 55 member states of the African Union,
covering a market of more than 1.3 billion
people, with a comprehensive scope that
includes critical areas of Africa’s economy, such
as digital trade and investment protection,
amongst other areas. By eliminating barriers to
trade in Africa, the objective of the AfCFTA is to
significantly boost intra-Africa trade,
particularly trade in value-added production
and trade across all services sectors of Africa’s
economy, at a potential of 52.3 percent.
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THE ENERGY REPUBLIC I SPECIAL EDITION