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 & Favour Ajibade
Nigeria is gradually embracing the use of Compressed Natural Gas (CNG) as numbers of vehicles running on gas hits in the country hits7,000, the Managing Director, NIPCO Plc, Suresh Kumar has said.
Kumar, whose firm(IPCO Plc) pioneered the use of CNG in Nigeria, said this while addressing journalists after a tour of the company’s facilities in Apapa on thursday.
He maintained that his company has deepened gas investment and market leadership in the country.
While fielding questions from reporters in company of the Managing Director, NIPCO Gas,Nagendra Verma, Kumar said that using CMG on vehicles is becoming popular in Nigeria, stating that the experience is awesome.
He said; “NIPCO started CNG operations in 2009 in Benin City by providing natural gas to Industries by way of PNG & CNG to automobiles by way of AutoGas (AutoCNG). NIPCO Gas is the pioneer company in CNG distribution in Nigeria.
“Presently, The company operates 12 CNG stations in Edo, Kogi, Delta, Ogun state, and Abuja. Four CNG stations are under various stages of construction and approval in Oyo, Lagos, Akwa Ibom state, and Abuja FCT.
These stations cater for Auto Gas requirement of vehicles, providing a cleaner, safer, economical, proven, and indigenous fuel.
“Nipco Gas presently fuels 7000 vehicles with AutoCNG. Nipco Gas has 4 AutoCNG conversion workshops in Ogun state and Abuja FCT to convert PMS vehicles on AutoCNG. More and more fleet operate converting their fleet on AutoCNG due to safety, availability, and economic reasons.
Corroborating Kumar’s view, Verma added; “NIPCO Gas operates approximately. 40 kilometres of pipeline network in Benin city and approximately 50 km pipeline network on Lagos lbadan expressway and energies industries for their power requirements by way of providing piped natural gas (PNG).
“PNG is most economical, safe, and convenient to use.
NIPCO Gas, in partnership with NNPC Gas Marketing Limited (NGML), is presently constructing approximately 80 kilometres of pipeline in phased manner from Sagamu to lbadan which will cater for industries’ power and fuel requirements.”
Pipeline construction work, he continued. “is progressing in full swing presently. The first phase of pipeline construction is expected to be completed by the end of 2023.
“NIPCO Gas, in partnership with NGML, is also constructing gas distribution infrastructure in Lekki Zone. Pipeline construction within Lekki Free Zone Development Company is on.
“The pipeline and city gate station are under construction. Nipco Gas has planned to commission the gas infrastructure and start supplying natural gas to customers in Q2, 2024.”
NIPCO Gas has total belief and expectation in the federal government’s declaration of 2020-2030 as a “Decade of Gas” with an aim to target gas-powered economy of Nigeria by year 2030 bundled with Nigeria Gas Expansion Program (NGEP) will certainly improve the utilization of
Indigenous fuel viz. natural gas and play a major role in improving Nigeria’s economy.
Deepened utilization of indigenous natural gas by way of PNG, CNG, and AutoCNG will certainly help the federal government in reducing subsidy burden and reduced importation of other fossil fuels, there by saving towards exchequer.
With the intentions of the federal government to do away with fuel subsidy, natural gas by
CNG and AutoCNG are bound to be a preferred “fuel of choice due to safety, environment, economic and abundant availability reasons in Nigeria.
NIPCO Gas feels that increases monetisation of indigenous natural gas will surely contribute heavily to the betterment of economic situation and employment 8n Nigeria.
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