Skip to main content

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...
Post a Comment

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.

 

Comments

Post a Comment

Popular posts from this blog

ICPC Will Not Hesitate to Deal Oil Racketeers

By Favour & Akinola Ajibade Oil racketeers will henceforth face prosecution and subsequently sentenced to prison, in the event that the decision of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) stands by its decision to completely eradicate such activities in the country.  This happens as ICPC  secured a seven year conviction for  two fraudsters, Aso Adasa Morrison and Frank Biobarakuma recently.  The body in a statement signed by its spokesperson, Mrs. Azuka Ogugua and made available to the media, said the two suspects were first arraigned sometime in March 2013 before Hon. Justice B. A. Georgewill of Rivers State High Court 16 on a 17-count charge bordering on conspiracy, forgery and obtaining false pretence regarding transactions in crude oil in Nigeria  She said the court was informed of how the convicts and others at large between the month of March 2012 and February 2013 in Port Harcourt, fraudulently obtain...
Post a Comment
Read more

NNPC Completes Mechanical Rehabilitation of Port Harcourt Refinery Plant

By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company (NNPC) Limited, says that it has mechanically completed the rehabilitation of Area 5 Plant of the Port Harcourt Refining Company (PHRC). The nation's oil company began rehabilitation of the refinery two years ago, while at the same time, promised to complete its by 31st December 2023. The Group Chief Executive Officer, NNPC Ltd., Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed. “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated. The GCEO commended NNPC's staff and the EPCIC contractors for doing a g...
Post a Comment
Read more

'2023 will usher in robust oil industry, says independent producers

Pix depicting Nigeria's energy sector Favour Ajibade The Independent Petroleum Producers Group (IPPG),has said that Nigeria will experience positive changes across its  oil and gas value chain in  2023. Its Chairman, Mr. Abdulrazaq Isa, gave this predictions during the Group’s 2022 Annual Dinner in Eko Hotel and Suites, Lagos.  He said that the tangible effects of the Petroleum Industry Act  implementation, conclusion of this International Oil Companies IOC's divestment phase and the emerging dominance of the indigenous players across onshore and shallow water space; implementation of the decade of gas policy; and the expected deregulation of the downstream sector, will all jointly set the tone and direction for Nigeria’s oil and gas industry in the years to come. According to him, the group has an important role to play going forward and as such are best placed to ensure the optimal development of Nigeria’s hydrocarbon resources as its members have demon...
Post a Comment
Read more