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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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Savannah/Notore aggrement will impact on fertiliser production


 

By Akinola Ajibade




Savannah Energy Plc has signed a new gas sales aggrement with Notore Chemical Industries, in order to help improve production of fertilisers and other agro allied products in the country.
The firm's Chief Executive officer, Andre Knott, in a statement signed and made available to News Mirror said that the Gas Sales Agreement ( GSA) with Notore would further boost activities between the two companies.
He said: " I'm pleased to welcome Notore as a new gas customer to Accugas, representing our tenth customer site in total ( versus three at the same time of our acquisition of the Accugas in 2019. We look forward to develop our working relationship with Notore in the next few months and years". 
The firm, Knott added, is undertaken the responsibility of selling gas to Notore through 
 its 80 per cent owned subsidiary- Acugas Limited. 
Hitherto, Savannah Energy has entered gas sales agreements with some  companies in order to scale up activities of power generation firms in the country.
The gas sales agreement with Notore, is the latest of such efforts made by the British Energy Independent Company to grow the Nigerian energy and allied sectors.
Similarly, the Chain Reactions Africa's Senior Consultant, Chidiebere Onuoha said that would help improve gas usage in the industry.
According to him, Accugas will be supplying Notore up to 10MMscufpd feet of gas in order to help augment its current supplies.
" The contracted supply is on an interruptible and reasonable endeavours basis, based on gas availability and nominations for an initial term of one year, with the option to extend for a mutually agreed period. Notore fertilizer is connected to the  Accugas network via the Nigerian Gas Company pipeline form Ikot Abasi and no further tie-in or capital expenditure is required is required by Accugas to deliver the product to Notore" he said.
Notore Chemical Industries, he said, is  a Nigerian-based integrated agro-allied, chemicals and infrastructure company located in the Onne Oil and Gas Free Zone area of Rivers state.

 




 

 

 





 

 

   


 


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