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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 Bonga is the best in its class, says NAPISM



By Akinola Ajibade



The Deep-Water operations of Shell Nigeria Exploration and Production Company Limited (SNEPCo) is one of the best, the General Manager, National Petroleum Investment Management Services (NAPIMS), Mr Bala Wunti has said. 

NAPIMS is the investment arm of the Nigerian National Petroleum Corporation Limited (NNPC).

He gave this commendation when he led his leadership team on an inspection of the SNEPCo-operated Bonga Floating, Production, Storage and Offloading (FPSO) vessel last Thursday.

“One of the best companies on planet earth is called Shell,” Wunti said, adding that NAPIMS would enhance the provision of accommodation  for SNEPCo’s offshore personnel and further help in reducing the time for the planned Turn Around Maintenance of the 225,000 barrels per day capacity vessel. This, he said, would reduce the production shutdown period.

According to Wunti, challenge in the area of personnel on board of FPSO is a problem across the industry.

He said that there was a commendable alignment between Bonga operations and NNPC’s key values of safety, speed of execution, compliance and excellence. 

“Since there is alignment on these values, it should be easy at the leadership level to align quickly on the ‘What’ and ‘Why’ even if there may be differences of opinion on the ‘How’.”

He encouraged SNEPCo to remain open to technical suggestions from NNPC for greater collaboration and improved performance. “When these suggestions come, SNEPCo should take it, test it and if it doesn’t work, thrash it afterwards.”

Impressed with the very low flare in Bonga operations, Wunti advised further improvement in operations to achieve zero flare, noting that NNPC placed top priority on ISO certification, equipment inspections, disciplined execution and cost excellence.

SNEPCo’s Managing Director, Elohor Aiboni, who conducted the NAPIMS team round the facility, said SNEPCo’s continuous improvement focus had helped to sustain high performance level for Bonga, Nigeria’s first deep offshore vessel.

“We are building a safe, simpler and cost-disciplined deep-water business that brings value to our partners, shareholders and Nigeria which remains a heartland for Shell,” Aiboni told the NAPIMS team.

SNEPCo pioneered Nigeria’s deep-water oil and gas production at Bonga, a project that increased Nigeria’s oil capacity by 10% when it began producing in 2005. Bonga is located 120km offshore and lies in water more than 1,000 metres deep across an area of 60 square kilometres. It has the capacity to produce more than 200,000 barrels of oil a day and 150 million standard cubic feet of gas a day.

 

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