Australia’s FAR Limited has received final credit approvals for an underwritten $300 million senior secured reserve-based lending facility for the Sangomar field development offshore Senegal.Artist impression of the Sangomar Field Development FPSO image courtesy of WoodsideFollowing approval of the exploitation authorization by the government of Senegal and the joint Final Investment Decision (FID) statement last week, FAR said on Monday that it entered into a $300 million facility which was approved by Macquarie Bank Limited, BNP Paribas, and Glencore.FAR previously secured a $200 million credit facility but stated at the time that it was negotiating for that number to rise to $300 million.The three financing institutions each credit FAR with an amount of $100 million. According to the company, the facility is a key part of the funding package to develop FAR’s interest in the Sangomar oil field in Senegal.The facility has a seven-year term with a four-year repayment holiday and is priced at a margin of 7.75 percent over LIBOR.FAR has so far raised over $400 million in new capital to fund its share of Phase 1 capex for the Sangomar development, including a A$146 million equity placement (around $100 million) and share purchase plan with receipts of A$11.18 million.It is worth noting that following the FID, FAR has 28 mmbbls (2P net economic interest) associated with this development attributed to the company.FAR’s Managing Director Cath Norman said: “Reaching agreement for a $300m underwritten senior debt facility […] is further endorsement and support for Sangomar being a tier-one oil development asset.“2020 is shaping up to be a busy year for FAR, with a junior underwritten debt facility due to be put in place early in the year and the drilling of one of its highly prospective exploration opportunities in the neighboring Gambia to follow in the second half of 2020.“In addition, the Senegal JV is preparing for drilling in 2021, commencing with an appraisal well on the FAR or SNE North discoveries before embarking on the development drilling for the Sangomar Field development.”The Sangomar Phase 1 development is anticipated to produce 231 mmbbls of oil (2P gross) and is planned to consist of 23 subsea wells including water injectors.The wells will be tied back to a floating production storage and offloading facility (FPSO) for processing prior to export to market via tankers. First oil is expected early in 2023. The FPSO is designed to allow the integration of future development phases, including potential for gas export to shore.To remind, Woodside, as operator of the joint venture, completed the purchase contract for the FPSO vessel and issued full notices to proceed for the drilling and subsea construction and installation contracts.MODEC was awarded a contract for the FPSO with an oil processing capacity of approximately 100,000 barrels per day. Subsea Integration Alliance (a non-incorporated alliance between Subsea 7 and OneSubsea) won a contract for the construction and installation of the integrated subsea production systems and subsea umbilicals, risers, and flowlines. Diamond Offshore received a contract award for two well-based contracts for the drill rigs Ocean BlackRhino and Ocean BlackHawk.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.
Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Theurer Auction ribbon cutting in new digs.By Tracy McCue, Sumner Newscow â€” United Country Theurer Auction/Realty held a ribbon cutting and open house Wednesday afternoon at their new complex at 1101 E. 16th Street. The new office used to be home of Tan Express.The details of how that all came about can be found in the feature here. Â For the latest information on auctions and real estate sales click here.Follow us on Twitter.
A marketing company in Florida is facing criticism for disguising car ads as federal stimulus checks, in an attempt to attract customers to a tent sale, Attorney General Ashley Moody’s office said on Thursday.The company, Traffic Jam Events, LLC and its owner, David Jeansonne, II, allegedly sent the deceptive ads to more than 35,000 consumers between March 27 and April 5 in Bushnell, a city located northeast of Tampa.According to the attorney general’s office, the Consumer Protection Division opened an investigation against the company and Jeansonne, as well as the dealer that provided the cars for the tent sale, MK Automotive, Inc. d/b/a New Wave, as well as its owner, Michael Kastrenakes. The owner of the dealership is cooperating with the investigation at this time, and has entered an assurance of voluntary compliance with the Attorney General’s Office.“This type of deceptive marketing is completely unacceptable and is even more outrageous during these challenging times. These marketing ploys prey on people’s desperate anticipation of stimulus assistance and falsely suggest that there is government stimulus funding for auto purchases,” Attorney General Moody said. “These misleading practices will not be tolerated, and if anyone tries to take advantage of this crisis and the legitimate financial assistance available for those in need, my office will hold you accountable.”The Attorney General’s Office also filed a motion this week for a temporary injunction to prevent the defendants from making false and deceptive representations regarding the COVID-19 stimulus program. A news release adds that Moody’s office is also seeking equitable relief, civil penalties and fees for violating Florida’s Deceptive and Unfair Trade Practices Act.Read the full complaint here.
Wiltshire’s Ben Amor swept round the Hotchkin course at Woodhall Spa in seven-under par over 36 holes to become the English men’s county champion of champions.He adds his name to a trophy which has previously been won by Lee Westwood and Nick Faldo and said: “To win means a lot.”The 21-year-old dropped only one shot all day – on the short fifth in his morning round – and he finished three clear of Kent’s Dan Brown. Yorkshire’s Ben Hutchinson also beat par, scoring two-under to take third place.“It’s nice for the hard work to pay off,” said Amor (Marlborough). “This has been a bit of a tough year and I’ve under-achieved on my expectations. But I’ve put in the hard work and you reap the rewards eventually, today was my day, I guess.”For much of the day Amor and Brown were locked in a neck-and-neck battle. They both went round in four-under 69 this morning; Brown got ahead over the early holes this afternoon but Amor caught him with an eagle three on the sixth. Amor moved ahead on the ninth; Brown caught him on the 11th.But the crunch came down the closing holes. Amor relentlessly parred every one, demonstrating a sure touch with his short game whenever he looked like faltering, but Brown (Chart Hills) had three bogeys in the last six.“I knew I had to post a number this afternoon and I couldn’t believe how close Dan was to me. When I made eagle I thought I would pull clear, but next time I looked at the leaderboard he was right next to me.“I like head-to-head stuff,” said Amor, who overcame any nerves by sticking to his routines. “I’ve been working hard on them and that was possibly the biggest thing. When I was really under pressure and need to hit a shot my routine stayed constant and sound.”Amor has been an England squad player and is a past winner of the English U18 boys’ Carris Trophy – and his next target is European Tour qualifying. “This is a big boost, playing well on a really good golf course where you have to drive it well.”For Dan Brown there were mixed emotions after a few loose drives cost him over the closing holes. “I was a bit disappointed towards the end, but pleased with the shape of my game,” he said. “I played well this morning to get to four-under and I got to three-under through four this afternoon. But perhaps a little bit of mental fatigue set in later on, it was nothing drastic but I found a few fairway traps.”This was one of four champion of champions’ tournaments played over the weekend, also involving men, women, girls and senior men.Click here for full scoresCaption: Ben Amor, 2016 English men’s county champion of champions (image © Leaderboard Photography). 11 Sep 2016 Amor sweeps to victory at champions weekend
Submitted by City of LaceyLongtime Lacey Museum volunteer Susan Goff was recently named as the city’s 2013 Historian of the Year by Mayor Vigil Clarkson and the Lacey City Council. Lacey’s Historical Commission unanimously approved Goff’s nomination in recognition of her decades-long support of the museum, where she began as a volunteer cataloging historical photos in 1987.Over those years, Goff, who holds a diploma in Cultural Conservation, was responsible for creating the museum’s indexing system for photographs and negatives, conducting historical research, and assisting with exhibit design. She has also donated many locally-significant items to the museum’s collections.The award was made during the city’s observance of Lacey History Month. Several community members have received the honor over the last decade, including Goff’s daughter, Andrea Taylor.For more information on the Historian of the Year program or the Lacey Historical Commission, please call the Lacey Parks and Recreation department at (360) 491-0857. Facebook0Tweet0Pin0
Facebook13Tweet0Pin0Submitted by Pacific Mountain Workforce Development CouncilCheryl B. Fambles, CEO of Pacific Mountain Workforce Development Council (PacMtn) joined the Board of Trustees of the Capital Medical Center (CMC) effective February 1, 2018. In her role she will help oversee and advise the hospital administratioCheryl Fambles will elp oversee and advise the hospital administration to ensure hospital and medical staff can continue to provide quality medical care to meet the healthcare needs of the regional community. Photo courtesy: Pacific Mountain Workforce Development Counciln to ensure hospital and medical staff can continue to provide quality medical care to meet the healthcare needs of the regional community.Cheryl has served as Chief Executive Officer (CEO) of PacMtn since 2012. Her master’s degree is in public administration from City University of New York and she is a graduate of the Senior Executives in Local Government Program JFK School of Public Service at Harvard. Cheryl is a passionate and engaged member of the regional community. She is a knowledgeable advocate for rural communities and cares deeply about the issues of poverty and inequity. She understands the redemptive power of work and quality employment and its relationship to family, community and economic health. “We know Cheryl’s expertise in workforce development and community engagement will be value add for the work of CMC”, says Duane Evans, PacMtn’s Board Chair.About Us: The Pacific Mountain Workforce Development Council (PacMtn) and its Board of Directors are responsible for workforce development in the five county area of: Grays Harbor, Lewis, Pacific, Thurston and Mason Counties. Pacific Mountain has created a pipeline of skilled and talented worked that are prepared to meet the needs of local employers.
A group of unprivileged women in Hout Bay use tea bags as a main resource to design products to support their families. (Image: YouTube)What started out as an initiative to empower unprivileged women in Hout Bay is now a business that supports families and reaches as far as Europe.Original T-Bag Designs was born out of a desire to help some women from ImizamoYethu, an informal settlement in Hout Bay, Cape Town, earn money. It is now a registered company, the crafters are employeesof this company and the sale of their crafts pays their monthly salaries. And interestingly, those products are made out of recycled tea bags.They include gift cards, trays, coasters, bags, dolls, notebooks, and boxes. “With recycled tea bags as their canvases they are painting themselves out of poverty,” the company says of its artists.The items are sold locally as well as in Germany, where a supporter has been been ordering from the company for years. In February, the company was approached by a French designer, who asked Original T-Bag Designs to collaborate and and remake two of its products to sell in Paris.“The young French designer saw a bag that is made by one of T-Bag Designs’ staff, Gracious Dube,” says Helen White the operations manager. “She wanted to collaborate with Gracious to modify her bag and one of our products so that she could sell them in her shop, Ithemba Design Ethik in Paris.” These coasters are of the products designed by several artists who make use of tea bags as their canvas. (Image: Original T-Bag Designs)IN THE BEGINNINGJill Heyes, a former art teacher, moved from England to South Africa in 1996. Seeing the poverty in Imizamo Yethu, in the seaside suburb of Hout Bay, she decided to do something to help the underprivileged women.White says Heyes started in 2000 by teaching basic craft skills to a few women. She felt that the products she came up with were not special enough for people to want to buy them. A special friend of hers made the suggestion of using a tea bag and it was decided that this would be a canvas for the ladies to express their creativity on. The tea bags were then put on cards and stationary items.The company has been in full swing since 2003. “We grew from about seven when the company was registered in 2003 to currently having 18 staff members,” explains White, who has been working at T-Bag Designs for the past 10 years. We also have two full time managers and two part-timeoffice support staff.”Heyes wanted to make sure that Original T-Bag Designs was sustainable. White explains: “We do not need to ask for or rely upon donations as we have put profits from our sales back into the company as we have grown over the years.” Russell Chitanda, production manager, and Jill Heyes, founding member, are part of the team that ensures that the average of 3 000 tea bags are painted for a week. (Image: Original T-Bag Designs)THE WORKLOADMost of the artists paint 150 to 250 tea bags a week, depending on how the sales go, she says. “On average we would get through about 3 000 [tea bags] a week just for painting. We also use them for our Heart range. These are only painted one colour then a heart is cut out of the tea bag. This would bring the total up to about 4 000 a week,” White says.Donations of used tea bags are a continuous request. People are asked to dry the bags, remove the tea leaves and send the paper to Original T-Bag Designs, where each artist creates her own designs.For more information, go to Original T-Bag Designs.
APTN National NewsA protest in front of the White House has resulted in hundreds of arrests.The demonstrators want U.S. President Barack Obama to halt the development of an oil pipeline that would run from Alberta to the Texas Gulf Coast.APTN National News reporter Noemi LoPinto has this story.