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Oando Acquires Oil Block In Angola

Oando Plc  Favour Ifeoluwa & Akinola Ajibade  Oando Plc  says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc,  Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
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Eni lifts force Majeure on gas exports By Akinola Ajibade

Italian energy group Eni (ENI.MI), yesterday said that it has lifted a force majeure on gas exports from Okaka in Bayelsa state, Southsouth Nigeria. 

News Mirror reports that the force majeure, which lasted for 10 days was announced after the firm repaired a vandalised pipeline that earlier resulted in the loss of 5 million standard cubic metres per day.

For the period of 10 days, the loss on the pipeline amounted to 50 million scuf, data compiled by News Mirror showed.

Eni declared force majeure on April 6 after the Ogboinbiri to Obiafu/Obrikom gas line operated by local unit Nigerian Agip Oil Company was damaged by a hacksaw cut, resulting in the loss of 5 million standard cubic metres per day.

A spokesman for Eni said in a statement that operations had been fully restored this week.

Disruptions to oil and gas production are common in the oil-rich Niger Delta region, where pipelines are often vandalised and crude stolen for illegal refining. 

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