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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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NUPRC's Head Office Remains In Abuja



By Favour Ifeoluwa & Akinola Ajibade


The Nigerian Upstream Regulatory Commission  (NURPC) says its corporate headquarters remains in Abuja and that it not in anyway planning to leave Abuja, which is Nigeria's  Federal Capital. 
Prior to this, some media organisations ( not the News Mirror) have written reports that NUPRC is planning to exit Corporate Head Office in Abuja, with a view to view to restart operation in any of the 36 states of the Federation. 
In a  statement made available to the News Mirror by the agency's, Chief Executive officer, Mr Gbenga Komolafe,  the agency said that the information that it was leaving its operational base in Abuja was not true, but rather it was meant to smear the image of agency, which is charged with the responsibility of ensuring compliance with petroleum laws/  regulating guidelines for the operation of oil and gas driling sites and wells in Nigeria. 

NUPRC's Chief Executive officer, Gbenga Komolafe

Others include supervising operations of oil and gas activities, which were under licenses and leases and other duties hitherto carried out by the Department of Petroleum Regulatory( DPR). 
Also, a public analyst, Mr Ibrahim Musa, in a fully worded letter describing the activities of NUPRC and also providing reasons why the agency is not exiting Abuja, which is Nigeria's Federal Capital, said that NUPRC also has the mandate to monitor operations to ensure that they are in line with national goals and aspirations, including those relating to Natural Gas Flare elimination & monetization, Domestic Gas Delivery Obligations and Domestic crude oil supply obligations and ensures that Health Safety& Environmental regulations conform to national and international best oil field practice.
Musa stated that the agency is maintaining records on upstream petroleum operations, particularly those relating  to petroleum reserves, production/exports, licenses and leases.
This Musa said, is coupled with the fact that NUPRC provides government and relevant government agencies with advice on technical matters, while at the same time, involve in processing upstream petroleum–related applications for leases, licenses and permits as well as ensure timely and accurate payments of Rents, Royalties and other revenues due to the government from NURPC's operations. 
The agency said  that some persons, including politicians and analysts, who are aware of its various roles have perceived the actions of NUPRC more from the realm of politics than economics. 
" They keep a close watch on the activities in the agency and would complain about almost every development that does not fit into their pre-conceived idealism, instead of embracing realism based on purely economic considerations.
Citing the latest efforts to move some personnel, especially field officers to Lagos, where many oil and gas companies have their offices , 
NUPRC said as a matter of fact, it is charged with the responsibility to implement  Petroleum Industry Act, which is a comprehensive legislation, targeted at achieving restructuring, repositioning, increased productivity and transparency and accountability in the oil and gas sector. 
NUPRC, analysts in the energy industry said that has  inherited many personnel and its current building in Abuja from the defunct Department of Petroleum Resources DPR and regretted  many  personnel work with their laptops from unsuitable locations due to the that they do not have offices to sit down and do their work.

 

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