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Oando Acquires Oil Block In Angola

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...
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NNPCL Remains Facilitator Of IOC's Divestment Process

Kyari at the Summit  


By Favour Ifeoluwa & Akinola Ajibade


The Nigerian National Petroleum Company Limited (NNPC Limited) says its role in the divestment of the assets of International Oil Companies( IOCs) is more of a facilitator, not an obstacle,  its Group Managing Director, Mr Mele Kyari has said.

He spoke yesterday ( Tuesday ) during the opening ceremony of the 7th edition of the Nigerian International Energy Summit 2024 (NIES 2024), summit at the State House, Abuja, on Tuesday.

According to him, NNPC's statutory role is to serve as an enabler of national energy security and further that optimal and sustainable production from the divested assets is guaranteed for the benefits of Nigerians. 

He also said that the company’s willingness to invest in the proposed African Energy Bank will be sustained, stressing the development would help in providing energy security.

On investment in energy infrastructure, the GCEO said the completion of the Obiafu-Obrikom-Oben Pipeline is in sight just as  the tunneling across the River Niger was currently ongoing.

He assured stakeholders of the company’s commitment to work with them to close the energy deficit gap and create prosperity for Nigerians, adding that from all indications, all issues of energy scarcity in the country would be over in the next 10 years.

Participants at the  event include key industry and governmental figures  such as Haitham al-Ghais, Secretary-General of OPEC; Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers’ Organization; Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas); Amb. Nicholas Agbo Ella, Permanent Secretary of the Ministry of Petroleum Resources; and the Minister of Information and National Orientation, Mohammed Idris Malagi, who represented the Nigerian President, Bola Ahmed Tinubu.

 

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