Norway’s Equinor and Algerian state-owned oil company, Sonatrach, have signed a memorandum of understanding (MoU) to examine cooperation within oil and gas exploration and production in Algeria and abroad.
The MoU strengthens the partnership between both oil companies. It includes cooperation within greenhouse gas emissions and carbon management, industrial safety management, implementation of technology to increase hydrocarbon recovery and development of a model for driving high-performance oil operations.
EQUINOR IN ALGERIA
Equinor started operations in Algeria in 2004 and currently has assets in Salah and In Amenas, as well as a partnership on exploration in the Timissit licence.
Impact Oil & Gas Completes Farm-in to Area 2 Offshore South Africa
Privately-owned, African-focused exploration company, Impact Oil & Gas, has announced the completion of the farm-in transaction between its wholly-owned subsidiary, Impact Africa, and Silver Wave Energy for the acquisition of a 90% working interest and operatorship of Area 2, offshore South Africa.
The completion follows approval from the Government of South Africa. Impact now owns a 90% working interest and operatorship of Area 2 with effect from 14th May 2021. The participating interests in the Area 2 Exploration Right, following completion of Impact’s farm-in, is as follows: Impact Africa Limited (Operator), 90% and Silver Wave Energy, 10%.
Exploration Director of Impact Oil & Gas, Philip Birch, commented:
“We are pleased to have concluded this transaction with Silver Wave Energy for Area 2 in deep water South Africa. This acquisition consolidates Impact’s position along the transform margin of the South African Natal Trough, adding over 78,000 km2 of acreage. Importantly, when added to Impact’s Transkei & Algoa licence, this captures the full length of all the large deep marine fans in the Natal Trough, which Impact believes to be a potential super-basin. This combined position offers substantial running room, with multiple play types underlain by very thick and oil-mature Cretaceous source rocks.”
AREA 2, OFFSHORE SOUTH AFRICA
Exploration Right reference 12/3/276 (Gamtoos, Algoa and Transkei Basins), is located offshore eastern South Africa and covers approximately 78,708km². Although water depths extend to approx. 4,500 meters, the prospective areas sit within 3,500 metres. The licence was initially awarded to Silver Wave Energy in 2015.
Area 2 lies within the emerging Southern African Aptian deepwater oil and gas play, stretching from northernmost Namibia, around Cape Agulhas and the Natal Trough, to the Durban Basin in the north-east. This play was opened up by the Brulpadda and Luiperd discoveries in the Outeniqua Basin and will be further tested during 2H2021 by the Venus-1X well in ultra-deep-water Namibia, where Impact is a substantial partner.