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...
By Akinola Ajibade
Nigeria’s crude oil earnings may increase sharply soon, as Shell Petroleum Development Company (SPDC) resumed export operations at the Forcados Oil Export Terminal, where repair works on the pipeline has been going for some days.
The Forcados Export pipeline which has a capacity to export over 400,000 barrels of crude per day was vandalized by crude oil thieves, a development, which has affected the operation of the terminal.
An official of SPDC, who confirmed the development yesterday, under cover said: “SPDC can confirm that essential repairs at Forcados Oil Terminal are complete and export operations have resumed on October 20, 2022.”
Shell Petroleum Development Company of Nigeria Limited (SPDC) had last week stated that the Forcados Oil Terminal will resume export operations by the end of this month when ongoing essential repairs would have been completed.
“In addition to the repairs, we are working to remove and clamp theft points on the onshore pipelines to ensure full crude oil receipt at the terminal,” SPDC’s Media Relations Manager, Abimbola Essien-Nelson, said in a statement last week, Wednesday.
This would however enable Nigeria to export about 400,000 barrels of crude oil in addition to what is currently exporting.
The country has capacity to produce atleast 2.5 million barrels per day but because of lack of investment and issue of security, it has recorded a lot of short –in, and some cases differed production.
The Forcados Oil Pipeline System is the second largest network in the Niger Delta, and transports oil, water and associated gas from fields in the western delta to the Forcados oil terminal.
The Trans Forcados Pipeline (TFP) is the major trunk line, into which feed multiple branches from onshore fields. At the Forcados River manifold, its capacity is 850,000 b/d. Until 2012, the pipeline was operated by Shell
According to Essien-Nelson, the active illegal connections to SPDC joint venture’s production lines and facilities in western Niger Delta as well as the inactive illegal connection to the onshore section of the 48” Forcados Export Line are in the company’s ongoing programme to remove illegal connections on the pipelines that feed the terminal.
She said, “SPDC gives priority to the removal of active illegal connections and to illegal connection points that have leaks. This scheduled programme is continuous as new illegal connections are identified during surveillance of the pipelines. An example of such illegal connection is that on the onshore section of the 48” Forcados Export Line which is currently not active and has no sign of leak at the interconnection point.”
Essien-Nelson reiterated SPDC’s commitment to running its assets safely, reliably and in accordance with globally accepted standards.
“SPDC continues to work tirelessly, alongside government and partners, towards the eradication of
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