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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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NNPC/Total Energies JV Achieves Zero Gas Flare


By Favour Ifeoluwa & Akinola Ajibade


The Nigerian National Petroleum Company Limited/ TotalEnergies Joint Venture has achieved zero routine gas flare in all its assets.

The development is in pursuit of meeting the targets of 20% (unconditional) and 47% (condrtional) greenhouse gas emission reduction as contained in the Nationally Determined Contribution under the Paris Accord signed by the President Bola Ahmed Tinubu administration.

The achievement is conveyed in a statement made available to newsmen by Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Limited.

This feat was announced on Thursday during an inspection tour of OML 100 tn Southeastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergres Team to ascertain the success of the OML Flare Reduction Project launched in December 2023.

The NNPC Ltd/TotalEnergies Joint Venture, which is the concesston holder of four leases, ha d hitherto achieved zero routine flaring across Ordinary Mining Lease(0ML 99(2006), OML 102 (2014), and OML 58 (2016), leaving OML 100 as the only lease with routine flaring going on.

According to the statement,the significance of this achievement is that the last routine flare volume of about 12MMscf/d (twelve million standard cubic feet per day) of gas has now been eliminated giving rise to a greenhouse gas emissions reduction of about 341KtCO,e/ yr.

It said,the achievement is an outcome of a programme introduced by the NNPC Ltd to galvanize action towards achieving the zero routine flare by 2030 across Its portfolio of assets.

It added:”It is also a testament to NNPC Ltd’s prioritization of sustainability anchored on the ‘first R’ of its 5R Strategy (Reduce, Replace, Renew, Re-plant, Repurpose), as it strives to reduce its carbon footprint.

“Work is ongoing across all other assets within NNPC Ltd’s Upstream Directorate to ensure that all assets achieve zero routine flaring by 2030 or earlier”.

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