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 Favour Ajibade
The Lagos state government will start and complete the $2.5 billion Fourt Mainland Bridge within four years, the Special Adviser on Works to the State Governor, Babajide Sanwo-Olu, Aramide Adeboye, has said.
He said the project will start In the first quarter of 2023 and end in 2027.
Adeyeoye,who spoke at a joint press briefing organised by the Ministry of Works and Infrastructure and the Office of the Public-Private Partnership (OPPP) to announce the preferred bidder for the project,said that CCECC-CRCCIG Consortium won the bid for the project while MOTA-ENGIL emerged as the reserved bidder.
According to her, a total of 52 bidders initially indicated interest in the project out of which 32 were responsive.
Fifteen of the 32 bidders, he said, indicated further interest out of which six met the criteria and were later rediuced to three before the winner was eventually picked.
Aramide said that 800 structures would be affected by the construction of the 37km bridge, which starts from Abraham Adesanya, Ajah, in Eti-Osa Local Government Area and terminates on Lagos-Ibadan Expressway passing through Owutu/Isawo, Ikorodu and some parts of Ogun State territories.
She added that the bridge would have three toll plazas and nine interchanges, adding that the funding is a partnership between the state government and the construction company and would cost $2.5 billion.
She explained that the agreement is a 40-year plan for the concessionaire to operate and maintain the bridge, as well as recoup investments on the project.
According to Adeyeoye, “the planned Fourth Mainland Bridge would remove gridlocks on the Carter, Eko and the Third Mainland Bridges and open up the state for future developments.”
She urged Lagosians to have confidence in the administration of Governor Sanwo-Olu to deliver on its developmental promises.
Special Adviser to the Governor in the Office of Public Private Partnership (OPPP), Ope George, said that choosing the preferred bidder was a daunting task, adding:
“The bidding process took 1,129 days after it was opened in 2019 when the present administration came on board,” he said.
He stated that the bridge, when completed, would be one of the legacy projects of the Sanwo-Olu administration.
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