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 & Akinola Ajibade
Savannah Energy Plc has signed a Memorandum of Agreement (MoA) with the Cameroonian Government, with a view to generate 75 megawatts ( Mw) of electricity in the northern region of Cameroon.
By this, the parties involved in the provision of 75 megawatts of electricity in the anglo-phone country are legally binded to respect the terms of the agreement reached before and after the execution of the project.
The parties majorly are Savannah Energy Plc and Cameroonian Government.
Savannah is achieving this plans, by developing the Bini Warak Project to generate electricity in order to further improve supply especially in northern part of Cameroon.
The company wholly owns Savannah RCM Limited, which its signed MoA.
Before to this period, Savannah Energy Plc, a British Independent Energy Company, has implemented many projects in the power/ allied sectors, with the recent MoA signing holding greater importance in the country..
Speaking during the ceremony in Yaoundé, Cameroon, the country's Minister of Water and Energy, Gaston Eloundou Essomba, said the 75Mw project would help in providing clean stable and affordable power to residents in northern Cameroon on completion.
According to him, the event which had the British High Commissioner to Cameroon, Dr Christian Dennys- McClure, Savannah Energy's Chief Executive officer, Mr Andrew Knott and other signatories in attendance, was meant to improve economic growth through generation of electricity in the Anglo-Phone country.
He said the facility would help in improving electricity in the Northern Region of the country by 50 per cent, as well as helping in dispatching power to the southern part of Cameroon.
Part of the goals of the Bini Warak Project, Essomba said include the construction of a dam on the Bini River, together with an 82km2 reservoir and associated tunnels, powerhouses, substations and a 225 Kilovolt transmission line connecting the Bini Project to Cameroon's northern electricity grid.
The minister further said the project will run over a period of years, beginning from 2024 to 2028.
Essomba said: " The Government is delighted to partner with Savannah Energy in order to deliver clean and affordable electricity to support our industrialisation plans for northern Cameroon. The Bini Project will address the current electricity shortages caused by the hydrology deficit of the Ladgo Dam and reduce the consequent reliance on expensive thermal generated power in the region.
Adding that: Our partnership with Savannah is in line with our long-term "Vision 2035" Master Plan for increasing the electrification in the country and the National Strategy for Development 2020-2030. The decision to invest in the Bini Project is a clear indication of the confidence Savannah has in our country's potential and our legal frameworks for investment. As a government, we will provide all the support needed to enable Savannah to deliver first power from this exciting project in the 2027 to 2028 window."
Also, Dr Christian Dennys-McClure said that the British Government is greatly excited about the massive investment in renewable energy in Cameroon.
"I am delighted that a British company, Savannah Energy, is making such a substantial investment in renewable energy in Cameroon. Cameroon has plentiful hydropower resources which, through investments like this, can be harnessed to develop the economy and improve the lives of millions of Cameroonians. This is a further example of the United Kingdom's commitment to Cameroon." he said.
Speaking in the same vein, Savannah Energy's CEO, Andrew Knott said that the signing of the Bini a Warak MOA would help in providing clean, stable and affordable power to northern Cameroon, as well as supporting both households and industrial projects in the region.
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