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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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Temile/Hyundai contract aligns with NCDMB's growth strategies



By Akinola Ajibade

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote has said that the decision by Temile Development Company to  sign  two separate  contracts in the sector, aligns with the Board' strategies to stimulate growth in the nation's oil and gas industry.
The indigenous shipping firm signed a contract with Hyundai Mipo Dockyard (HMD) for the construction of a new 23,000 cubic meters Liquefied Petroleum Gas Carrier Vessel on one hand and NMSL for the construction and supervision of the vessel on the other hand.
NMSL, an integrated maritime services firm, is a subsidiary of Liquefied Natural Gas( LNG) Limited.
The  construction of a LPG carrier vessel is sequel to the first vessel one provided by Temile in 2018 and is currently being used for chartered purposes by LNG.
Speaking at the sidelines of an agreement signing ceremony in Daegu, South Korea, Wabote said that the initiative is a good one, capable of bringing about growths in the sector.
He described the initiative as a great  accomplishment, as it would assist in boosting the confidence of local companies in order  to play at the international market.
The event took place at the recent Oil and Gas Conference in Korea,  
He said: " The new 23,000 cubic LPG/NH3/VCM Carrier to be constructed is a high-end specification vessel that has been designed by NSML in accordance with bespoke requirements using HMD’s highly efficient eco-design. The new LPG carrier is expected for delivery on 26th July 2023 at HMD in Ulsan, Korea." 
The NCDMB's Boss further said that the contracts signing and subsequent construction and supervision of the vessel would help the Board in maximizing its potentials in both  the Midstream and Downstream segments of the industry.
He said that the project will bring invaluable local content opportunities in technology and innovation, human capital development and research and development.
Similarly, Temile’s Chief Executive, Mr. Alfred Temile said ‘’We are delighted to execute the construction of our new LPG carrier with HMD, bringing onboard NSML to supervise the construction of the vessel.




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