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
The Federal Governmentt's efforts in deepening gas utilisation in the country is in line with global energy transition, the Managing Director,NIPCO Plc, Mr Suresh Kumar has said.
NIPCO is an integrated Oil & Gas company,which boasts of detail outlets nationwide.
Speaking at the company’s 19th Annual General Meeting (AGM) in Abuja, Kumar said the government has done well, by deepening gas utilisation in Nigeria, adding that it should be commended for that noble efforts.
He said that there is need for more concerted efforts in the areas of infrastructure, urging stakeholders to guarantee access to the products in Nigeria.
According to him, operators are expecting speedy completion of the Abuja-Kaduna-Kano (AKK) gas pipeline and the subsequent connection of more cities to the gas pipeline across the country.
He expressed satisfaction on NIPCO activities in the industry and gas sector in particular, stressing that it is noteworthy.
“It is worthy of note with its wholly owned subsidiary, NIPCO Gas Limited (NGL). The company has continued to deepen domestic gas utilization through access to both CNG for auto use and piped natural gas for industrial usage. “It has constructed and laid over 100 kilometres big gas pipeline and currently in Lagos – Ibadan expressway linking Ogun State to its neighbouring Oyo State via gas pipeline.”
According to him, NIPCO Gas Limited (NGL) embarked on the construction of three CNG refill stations in the Federal Capital Territory (FCT) and environs in 2022 to facilitate access to gas by motorists and other end users.
He equally informed that these two of the stations are almost ready in the FCT with the Abuja airport road station servicing the newly inaugurated mass transit buses for civil servants in the territory among other motorists.
“NGL is entrenching its presence across the federation encouraging a switch to natural gas by motorists and industries as a preferred energy source through massive investment in infrastructure to improve access. “It is also a stakeholder in the Federal Government National Gas Expansion Program with her footprints in several states with conscious plans to cover the entire country soonest,” he added.
Despite the challenges associated with gas infrastructure, the MD told the teeming shareholders, “Our dear company has been able to pull through with a modest performance that has contributed to guaranteeing a good return on your investment. Our company will continue to act in concert with its peers in the industry to achieve energy security for Nigeria.”
While reviewing the company’s 2022 performances, he hinted, “Our performance in 2022 was mainly on a long-term growth strategy that was anchored on prudent management of resources, cost optimization, teamwork and unflinching support of the Board of Directors.”
Comments
Post a Comment