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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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Fed Govt's mega transformers arrive September

By Akinola Ajibade

The Federal Government will take delivery of the first batch of the mega transformer  ordered under President Muhammadu Buhari’s Presidential Power Initiative (PPI) in September, this year.

The equipment, coming from Italy, would arrive 
 Nigeria would arrive the country in the next two months.

Already,the transformers successfully undergone factory acceptance test at Siemens’ transformers factory in Trento Italy.

The managing director of Federal Government of Nigeria Power Company (FGN-Power) Mr. Kenny Anuwe who lead a delegation that includes engineers from Transmission Company of Nigeria (TCN) witnessed the factory acceptance test conducted on 28 July 2022 in Trento Italy. The factory acceptance test paves the way for Siemens Energy to start delivering the transformers to Nigeria.

The development came after the Minister of Power Engr. Abubakar D. Aliyu led a delegation to Germany in April, where he paid visits to Siemens Energy factories in Berlin and Frankfurt, and held meetings with the senior leadership of Siemens Energy on the need to fast-track the delivery of the early orders that will kick start the transformation of Nigeria’s electricity.

“The successful factory acceptance test shows Nigeria’s engagement with Siemens Energy is on track. It also shows federal government’s commitment to addressing Nigeria’s electricity challenges,” said the minister.

In December 2021, the Minister of Finance Zainab Ahmed and the Minister of Power Engr. Abubakar D. Aliyu secured the approval of the Federal Executive Council of €63 million (Euro) for the procurement of equipment to boost power supply under the Presidential Power Initiative (PPI) — whose first phase will provide 10 mobile power sub-stations and 10 mega transformers that will be deployed across the country to boost and stabilize electricity supply.

In 2018 President Muhammadu Buhari initiated the Presidential Power Initiative (PPI) that will enable Siemens Energy to upgrade Nigeria’s electricity systems. The first phase of the PPI seeks to modernize, rehabilitate and expand the national grid by investing in the electricity value chain, including generation, transmission and distribution systems.


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