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
Nigerian will enjoy energy security in the next few months, in the event that contractors handling the contractors handling the 614 kilometer Ajaokuta, Kaduna, Kano( AKK) gas pipelines were able to meet its completion deadline of July/ August 2024, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, gave this indication during a tour of the project recently.
He said the country's economic prosperity is tied to the gas facility, urging contractors handling it to try and meet its 2024 deadline.
According to him, the AKK gas project was designed to supply gas to homes, automobiles, industries, with a view to strengthening the production of energy in the country.
The Minister stated that power stations and industrial users within Abuja, Kaduna, Kano and adjourning states of the federation are going to benefit majorly from the initiative.
Ekpo, who was accompanied on the tour of the facility by the top officials of the Nigerian National Petroleum Company Limited (NNPCL), Chairman, Oilserve Limited, Mr Emeka Okuosa, Chief Executive officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Mr Farouk Ahmed expressed confidence in the abilities of the contractors to deliver the project on time, stressing that the country will achieve a lot through it.
He urged contractors hired to execute the 614-kilometer Ajaokuta, Kaduna, Kano (AKK) gas pipelines project not to default on the promised July/August 2024 completion deadline.
Ekpo sai: “I appreciate what the contractors are doing. But I want you to know that the prosperity of Nigeria depends on this project because energy is synonymous the with prosperity, and when this project is completed we will have energy security in our country; investors can then come in to do business and also create jobs for our citizens,” Ekpo said.
“There will be CNG for cars and LPG will be made available for more homes. Industries and power stations will also benefit from this project. This project holds the keys to the growth of our economy and in fact, we have enough gas for the project,” he added.
Responding, the Oilserve Chair, Okuosa, said the project would be completed for inauguration between soon.
He listed some of the challenges slowing down the AKK gas pipeline to include insecurity in neighbouring Niger State and a right-of-way characterised by rocks and rivers.
He, however, said the company was working with the NNPCL and security agencies to curtail the pockets of insecurity and ensure contractors work both day and at night to meet the July/August 2024 deadline set.for its completion.
“The July, August deadline should be sacrosanct and there should be no excuse; that is what we are going to look at,” Ekpo reiterated while appealing to Nigerians to be patient with the President Bola Tinubu-led Federal Government, assuring that the economic situation of the country would improve for the benefit of all citizens next year by the time the AKK project and other economic programmes start yielding dividends.
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