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
The Nigerian National Petroleum Company Limited ( NNPCL) is seeking plans to engage reputable and credible operators for effective magement of Harcourt Refinery.
Through this means, the refinery which has been stately managed alongside others since its establishment in 1965, will be handed over to private operators for seamless operation.
The aim is to ensure that the refinery resume effective production of crude oil and further help in boosting consumption of locally refined petroleum products.
Recall that Nigeria for decades has battled insufficiency in the area of crude production, a development, which resulted in importation of refined petroleum products amid other problems.
The National Oil Company, in a statement, said the move is to' snsure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.”
In a publication on its website yesterday (Monday), the NNPCL said the contract scope shall cover refinery business processes like long-term and short-term production/operations planning; production and operations execution; monitoring, reporting, and optimisation of operations; maintenance execution; health and safety; environmental management; minor projects and others.
In the publication, NNPCL requested that interested companies must demonstrate “a minimum average annual Turnover of at least $2 billion USD for the financial years ending: 2019, 2020, 2021 and 2022 respectively.”
The NNPCL had in the last few weeks commenced the supply of crude oil to the Port Harcourt refinery to test-run it.
On December 21, 2023, the Federal Government announced the mechanation work on the Area-5 Plant of the Port Harcourt Refining Company in Rivers State.
It said the first phase of the plant had been completed, as the facility would start refining 60,000 barrels of crude oil daily after the Christmas break.
The Port Harcourt Refinery, situated in Nigeria’s oil-rich Niger Delta region, has been in operation since 1965. The Alesa Eleme refinery complex is situated in Rivers State, Nigeria, approximately 25 kilometres east of Port Harcourt.
In March 2021, the Nigerian government approved a GBP 1.08 billion ($1.5 billion) budget for the renovation and modernisation of the refinery complex.
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