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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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Total energies- Indigenous Firms: Embrace R&D For Growth


By Favour Ifeoluwa & Akinola Ajibade 


The TotalEnergies EP Nigeria Limited, yesterday advised indigenous oil and gas companies to embrace research and development in order to enable them cope with the emerging trends in the global business.

Deputy General Manager, Nigeria Content, Cyprian Ojum said this yesterday( Monday)  at the ongoing. Nigerian Oil and Gas Conference (NOG) in Abuja

He said: “Now if Nigerian indigenous companies don’t wake up, they will also be left in the midst of things because they will lack knowledge of where the oil and gas industry is going to which is deep offshore. So, we are catching up with offshore and when it goes to deep offshore we are behind the time.

“We can’t do much without knowledge. So Nigerians indigenous companies that are here today, you need to get knowledge about offshore business because it’s not the same the same story with land and swamp. When you are in deep offshore, the technology is different from land exploration. You are talking about seismic data gathering and processing, you are talking about FPSO. And field development is different. You are talking about drilling rig on water which is quite a lot.

“Then the development, we are talking about subsea systems, you will be talking about riders; you will be talking about flow lines and all the pipelines that run underwater. We need to scale up our game in this regards and we can’t do it without proper research and development”.

“Accelerated R&D today is the way to go for us to go in order to ensure the future of the Nigerian oil and gas industry in terms of Nigerian content. If you don’t go that way then you will go back to 2010.”

He noted that it awards it jogs based on knowledge and competence saying that at various points several of its projects in the country have been handled Nigerian.

Speaking,Amesh Amarmani, Director, Pacegate Energy $ Resource Limited (PEARL), TotalEnergies by what he has done is giving local companies the opportunity to step up and be active players in the industry.

Nigerian indigenous companies,he said,need to take advantage of the opportunities that is provided by the IOC to improve capacity.

He emphasized the need for regulatory bodies to step up their supervision roles so that Nigerian indigenous oil and gas companies can be competitive.

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