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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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'Shell Pays Intervention Funds 0f $142.5m to NDDC'


By Favour Ifeoluwa & Akinola Ajibade


The Shell Petroleum Development of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) paid at total of $142.5 million was paid to the Niger Delta Development Commission (NDDC)  in 2023

SPDC paid $112.5 million while SNEPCo remitted $30 million compared to $59.04 million by SPDC and $20.73 by SNEPCo in 2022, Shell have said in a statement. 

The contributions came from the Shell companies on behalf of themselves and their respective partners –Nigerian National Petroleum Company Limited (NNPC); TotalEnergies, EP Nigeria Limited; NAOC; and Esso Exploration and Production Nigeria Limited – as statutory contributions to the interventionist agency.

“Our support for NDDC is part of our aspirations for the development of the Niger Delta which has also seen a wide range of social investments, including health and education,” SPDC Director and Country Head, Corporate Relations Igo Weli said in a statement on Wednesday.

He added: “With the continuous support of our partners, we will continue to discharge our obligations to communities through statutory payments to agencies and projects executed in partnership with stakeholders.”

Shell Companies in Nigeria have supported community development programmes in the country since the 1960s, benefitting many Nigerians.

Shell, also financed education,  a development, which led to the award of more than 3,450 secondary school grants, 3,772 university grants and 1,062 cradle-to-career scholarship grants since 2016.

This coupled with the fact that the oil giants have introduced Health-in-Motion programme, providing free medical services directly to communities. Over one million individuals have benefited from the programme since its inception in the early 2000s,the statement added.

On  entrepreneurship programmes, Shell has  supported 73 businesses through training and mentorship programmes leading to 97 employment opportunities for Nigeriians. 

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