SA MINISTER LEADS
INVESTMENT DRIVE
A key focal point of this years’ Africa Oil & Power conference held
in Cape Town recently was South Africa’s surge as an investment
destination across the energy value chain. Following a landmark
off shore discovery in February, multiple gas agreements and a
record setting number of Independent Power Producers (IPP’s)
projects online, Africa’s biggest energy consumer is a fl ashpoint for
major project fi nance activity this year.
South Africa’s Minister of Mineral Resources and Energy Gwede
Mantashe and Deputy Minister Bavelile Hlongwa, joined a powerful
line-up of African energy industry leaders and decision-makers on
the AOP 2019 stage.
Welcoming the South African minister and deputy minister to the
fourth annual AOP event in Cape Town, Africa Oil & Power CEO
Guillaume Doane said, “South Africa’s energy profi le is rising, thanks
in great part to policy reforms, industry privatisation and a landmark
off shore discovery earlier this year. The energy economy is steering
away from coal and towards gas and renewables, a trend which we
are very excited to feature at this year’s conference.”
With a special focus on the developments in South Africa’s energy
sector, AOP 2019 cast the spotlight on the country’s exploration
and production prospects, the evolution of the power sector –
specifi cally in the KwaZulu-Natal and Northern Cape provinces –
and unpacked the country’s energy strategies expressed in the draft
Integrated Resource Plan (IRP).
The draft IRP proposes to implement 46% coal-generated power,
16% gas, 15% wind, 10% solar PV, 6% hydro, 4% pumped storage,
2.5% nuclear and 1% concentrated solar power and plans to supply
an estimated 20 000 MW of the additional 29 000 MW electricity the
country needs by 2030.
Although the IRP remains to be fi nalised, South Africa has begun
seeing moves by public and private sector actors towards some of
the plans expressed in the draft IRP.
Last month, Transnet announced its cost-sharing agreement with
the International Finance Corporation to conclude a feasibility
study for the development of an LNG storage and regasifi cation
terminal in the Kwa-Zulu Natal and South Africa’s Strategic Fuel Find
announced its tender for a refi nery project in South Sudan.
On its shift towards clean power, the Renewable Energy
Independent Power Producer Procurement Programme
(REIPPPP) will continue to be instrumental in the country
diversifying its energy mix, having already brought online 102
IPP projects from the four bid windows and over USD17.5-billion
in investments.
A prime example of an initiative making energy work, the
REIPPPP has created over 38 000 jobs and contributed
generously to the national grid through projects including the
country’s largest concentrated solar IPP project, the 100 MW
Kathu Solar Park in the Northern Cape, the 135,8 MW Cookhouse
Wind Farm in the Eastern Cape and the 135.5 MW Gounda Wind
Farm in the Western Cape.
Resolute to fi nd an energy solution that will meet the country’s
needs, Mantashe told members of parliament recently that the
IRP would be fi nalised soon, and explained that: “it is a summary
of what we must do and gives us a framework to our approach
to energy. We can’t lobby for any technology over the other. Our
preoccupation is energy supply and security.”
CHAD INVITES ANGOLA TO
EXPLORE OIL
Chad has invited Angola to explore oil in the country. Angolan
President João Lourenço said at a press conference that the
invitation was made during talks between the delegations of the
two countries which aimed to strengthen economic cooperation
relations between the two states. The two countries signed a
memorandum of understanding.
SÃO TOMÉ AND PRÍNCIPE
AND EQUATORIAL GUINEA
DISCUSS JOINT OIL
EXPLORATION
São Tomé’s President, Evaristo Carvalho has announced that an
agreement for joint oil exploration has been signed in a maritime
zone that overlaps between the island state and mainland
Equatorial Guinea. President Carvalho said in a statement: “We
have signed some agreements and protocols, mainly in the area
of joint exploration of maritime resources, which could bring
benefi ts to our economic and fi nancial situation,” He added that
the government of Equatorial Guinea is ready to immediately
start the agreement on joint oil exploration.
Source: Macauhub
FRENCH GROUP ENTERS TWO
ANGOLAN OIL BLOCKS
Gwede Mantashe, Minister of Mineral Resources and Energy of South Africa.
www. africanmining.co.za
African Mining Publication
According to a company statement issued in Paris, The French
group Maurel & Prom is growing its presence in Angola by
acquiring a 20% stake in two Angolan off shore oil blocks from
Japan Oil Co for USD35-million.
African Mining
African Mining November 2019
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