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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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Shell will supply gas to 225Mw plant if.......,.

..

By Akinola Ajibade


Barring any hitches, Shell Nigeria Gas (SNG) would be supplying gas  to an Independent Power Plant( IPP) with a view to enable it generate 225 megawatts ( Mw) of electricity for the country. 

Already, the company has over 150 customers on its list, a development, which implies that the firm is deepening its operation in sector.

A statement from Shell said that the plant is located in the South-Eaatern part of the country,  and that it is being promoted by Goodsyenergy Oil West Africa Limited (CS OWA) .

The statement quoted the Managing Director,, SNG, Ed Ubong, as saying that the plant would be providing all the gas needed by the plant in order to enhance its productivity. 

' It added that : " The firm  has signed the heads of terms agreement with CS OWA as a prelude to a potential Gas Sale and Purchase Agreement,” adding that the new partnership “will deepen domestic gas utilisation, enhance further industrialisation, and enable local industries to have access to reliable and affordable energy to thrive and create employment opportunities for Nigerians.”. 

In line with the heads of terms agreement, SNG will build the required infrastructure to connect the power plant to the Escravos Lagos Pipeline System for easy access to gas.

Similarly, the General Manager Shell Energy Business, Markus Hector, said the natural gas-fired power project would bring tremendous benefits to the economy by bridging Nigeria’s energy gap as part of the Decade of Gas initiative by the Federal Government.

He said, “Nigeria is an important heartland for Shell, and will remain so. We will continue to invest in the country to help meet its energy needs, with a focus to grow gas positions. SNG as part of the Shell Energy business line is positioned to drive the powering progress strategy by delivering more and cleaner energy to the Nigerian people and businesses.”t

In a related development, the  Managing Director, CS OWA, Dr Olugbenga Odusanya, said he was excited about the prospect of the new power plant with potential to unlock the domestic gas market and contribute to industrialisation in Nigeria.

 

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