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...
Axella' s Director of Business Development, Mr Franklin Imole
By Favour Ifeoluwa & Akinola Ajibade
Axella's Gas Processing Plant announces Final Investment Decision ( FID) to develop a 50 MMASCF/D Gas Processing Plant, with h a view to deepen utilisation of gas in the country.
The firm, which is situated in 0ML 56 in Delta State, said that its making strategic investment in order to ensure that gas is available for industrial use in Nigeria.
Situated in Delta State, Southern Nigeria and billed to commence operation by the end of 2024, the facility, Axella' said, boasts of 12 MMSCF Modular Plant with an interconnection pipeline network of about 4kilometres alongside other ancillary infrastructure. The facility, the company added, is expected to commence operation by the end of this year.
Speaking on the plant , Axella's Director of Business Development, Franklin Imole said: " As the Federal Government continues to pursue its decade of Energy Transition Agenda, we remain a reputable gas processing plant, which aimed at tackling the long standing challenge of gas flaring and commercialisation ion Nigeria.
" We are positioning to develop requirite natural gas processing and last mile distribution that creates acesss for at least 20 per cent of Nigeria gas demand. Over the past two decades, we have been at the forefront of natural gas advocacy, and this project is a further reaffirmation of our dedication to gas infrastructure development and our vision to deliver innovative energy solutions across Nigeria and Africa, he concluded.
According to him, Axella has executed a fixed term long agreementt to supply leading indigenous upstream players and establish equipment agreement with world class Original Equipment Manufacturers (0MS) in order to ensure quality delivery of the project. This follows the Final Investment Decision (FID) executed by the company.
Continuing further, Imole said that the project is strat egically located in OML 55 to serve as a potential hubs, which upstream players for growth. Axella is partnering with OEMS to unlock economic opportunities, adding that the project that can potentially transform gas flaring into a valuable resource which would further ensure a stable, cleaner energy for domestic utilisation, thereby contributing signicantly to 002s, emißioks avings emissions, as well as supporting environmental sustainability.
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