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 Ifeoluwa & Akinola Ajibade
Sahara Group,has advised Nigerian Electricity Regulatory Commission ( NERC) and its counterparts in other African Countries to adopt a market-based regimes, in order to provide sustainable gas development in the continent.
According to the company, appropriate pricing of the commodity remains the only way to enhance investment, increase production and consumption growth in countries across Africa.
Also, the group called for the inclusion of investors in gas policy development frameworks as part of the process of enhancing capacity and competitiveness of the sector in Africa.
Speaking during the panel session on the subject, “The Game Changer: Enhancing African Gas Development Strategies and Investment Opportunities,” at the recent African Energy Week, AEW 2023, in Cape Town, South Africa, Managing Director, Sahara Group Limited, Emmanuel Magani, said: “It is also important to have the private sector drive a lot of the gas projects. We have the West African Pipeline Project, WAGP that delivers gas to Benin, Togo and Ghana which has the potential to further play a huge role in regional gas development given market-based regimes and adequate investments.”
He said: “It is important to have the right type of market regime in order to ensure adequate returns to all key stakeholders. We need to have a market-based price regimes to drive and support the level of infrastructure required to transform gas development and utilisation in Africa. Gas can also play and increased role in Africa’s commitments to reduce carbon emissions.
Magani noted that as a leading player in Africa’s oil and gas sector, including operations in Asia, Europe and the Middle East, Sahara Group continues to seek investments and collaboration towards positioning gas is a key resource for transitioning to net zero.
“Sahara Group remains committed to providing adequate energy for different purposes, including industrialisation and domestic cooking. We are through our LPG operations contributing remarkably to efforts aimed at ending firewood and charcoal utilization by putting up the right infrastructure to drive storage, distribution, and access to LPG in Africa.
” In the power sector, Sahara Group provides 20 to 25 per cent of Nigeria’s electricity supply on any given day. In other words, one out of four electricity bulbs is powered by us. The number will be higher as we continue to expand. We work closely with other stakeholders in Africa to promote our vision of bringing energy to life responsibly, leaving no one behind,” he added
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