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  •   Seeking to solidify Africa s own narrative around oil gas and large scale project development financing the African Export Import Bank Afreximbank has confirmed that a major delegation will attend the main energy event of the continent the African Energy Week AEW www AECWeek com which will take place from 18 to 21 October 2022 in Cape Town to sign agreements and forge partnerships while advancing an Africa focused dialogue on the future of African energy As the financing of African oil and gas projects represents a hot spot of debate globally the African Energy Chamber AEC remains resilient in its support for investment in African hydrocarbons recognizing the role that these resources will play in make energy poverty history by 2030 While institutions are starting to ditch fossil fuels in the name of climate change Africa based organizations like Afreximbank have remained committed to African people and African energy Through the organization s association with the continent s premier event for the oil and gas industry and the confirmation of a high level delegation to attend AEW 2022 in Cape Town Afreximbank s support for the energy future of Africa remains unshakeable As a pan African financial services provider Afreximbank is committed to financing projects across the energy sector and value chain creating opportunities for partnerships and driving multi sector growth in Africa Deals including investing 500 million to help South Sudan s power transmission infrastructure and agriculture sectors the 250 million credit to Trans Niger Oil and Gas to help facilitate the acquisition of a 45 interest in the OML 17 onshore field the 200 million loan agreement signed with the Egypt General Petroleum Company to improve power generation and distribution and 400 million in loans and guarantees to support the Mozambique liquefied natural gas project demonstrate the institution s commitment to expanding Africa s energy sector The lack of international investment in Africa s energy sector impedes any progress in making energy poverty history and our fight against climate change Afreximbank has remained supportive proactive and resilient financing small and large scale projects throughout the African energy sector In 2022 where 600 million people still do not have access to electricity and 900 million people do not have access to a clean kitchen the support of pan African financial providers such as Afreximbank is of paramount importance says NJ Ayuk CEO of AEC adding that We are excited to host such a high level delegation from one of Africa s leading financial institutions Afreximbank represents a key partner for African projects and we look forward to a series of agreements being signed and new partnerships forged that will put the continent on the right track to make energy poverty history by 2030 Alongside other high level delegates in Cape Town the Afreximbank delegation will participate in roundtables investor forums and one on one meetings laying the groundwork for a strong energy future to be established through oil and gas Led by Professor Oramah the Afreximbank delegation will come to AEW 2022 for a real debate on Africa s energy future a debate focused on Africa s needs goals and commitments
    Afreximbank delegation led by Professor Benedict Oramah will attend the 2022 African Energy Week to sign agreements and forge partnerships
      Seeking to solidify Africa s own narrative around oil gas and large scale project development financing the African Export Import Bank Afreximbank has confirmed that a major delegation will attend the main energy event of the continent the African Energy Week AEW www AECWeek com which will take place from 18 to 21 October 2022 in Cape Town to sign agreements and forge partnerships while advancing an Africa focused dialogue on the future of African energy As the financing of African oil and gas projects represents a hot spot of debate globally the African Energy Chamber AEC remains resilient in its support for investment in African hydrocarbons recognizing the role that these resources will play in make energy poverty history by 2030 While institutions are starting to ditch fossil fuels in the name of climate change Africa based organizations like Afreximbank have remained committed to African people and African energy Through the organization s association with the continent s premier event for the oil and gas industry and the confirmation of a high level delegation to attend AEW 2022 in Cape Town Afreximbank s support for the energy future of Africa remains unshakeable As a pan African financial services provider Afreximbank is committed to financing projects across the energy sector and value chain creating opportunities for partnerships and driving multi sector growth in Africa Deals including investing 500 million to help South Sudan s power transmission infrastructure and agriculture sectors the 250 million credit to Trans Niger Oil and Gas to help facilitate the acquisition of a 45 interest in the OML 17 onshore field the 200 million loan agreement signed with the Egypt General Petroleum Company to improve power generation and distribution and 400 million in loans and guarantees to support the Mozambique liquefied natural gas project demonstrate the institution s commitment to expanding Africa s energy sector The lack of international investment in Africa s energy sector impedes any progress in making energy poverty history and our fight against climate change Afreximbank has remained supportive proactive and resilient financing small and large scale projects throughout the African energy sector In 2022 where 600 million people still do not have access to electricity and 900 million people do not have access to a clean kitchen the support of pan African financial providers such as Afreximbank is of paramount importance says NJ Ayuk CEO of AEC adding that We are excited to host such a high level delegation from one of Africa s leading financial institutions Afreximbank represents a key partner for African projects and we look forward to a series of agreements being signed and new partnerships forged that will put the continent on the right track to make energy poverty history by 2030 Alongside other high level delegates in Cape Town the Afreximbank delegation will participate in roundtables investor forums and one on one meetings laying the groundwork for a strong energy future to be established through oil and gas Led by Professor Oramah the Afreximbank delegation will come to AEW 2022 for a real debate on Africa s energy future a debate focused on Africa s needs goals and commitments
    Afreximbank delegation led by Professor Benedict Oramah will attend the 2022 African Energy Week to sign agreements and forge partnerships
    Africa2 weeks ago

    Afreximbank delegation led by Professor Benedict Oramah will attend the 2022 African Energy Week to sign agreements and forge partnerships

    Seeking to solidify Africa's own narrative around oil, gas and large-scale project development financing, the African Export-Import Bank (Afreximbank) has confirmed that a major delegation will attend the main energy event of the continent, the African Energy Week (AEW) (www.

    .AECWeek.com), which will take place from 18 to 21 October 2022 in Cape Town, to sign agreements and forge partnerships while advancing an Africa-focused dialogue on the future of African energy.

    As the financing of African oil and gas projects represents a hot spot of debate globally, the African Energy Chamber (AEC) remains resilient in its support for investment in African hydrocarbons, recognizing the role that these resources will play in make energy poverty history by 2030.

    While institutions are starting to ditch fossil fuels in the name of climate change, Africa-based organizations like Afreximbank have remained committed to African people and African energy.

    Through the organization's association with the continent's premier event for the oil and gas industry, and the confirmation of a high-level delegation to attend AEW 2022 in Cape Town, Afreximbank's support for the energy future of Africa remains unshakeable.

    As a pan-African financial services provider, Afreximbank is committed to financing projects across the energy sector and value chain, creating opportunities for partnerships and driving multi-sector growth in Africa.

    Deals including investing $500 million to help South Sudan's power transmission, infrastructure and agriculture sectors; the $250 million credit to Trans Niger Oil and Gas to help facilitate the acquisition of a 45% interest in the OML 17 onshore field; the $200 million loan agreement signed with the Egypt General Petroleum Company to improve power generation and distribution; and $400 million in loans and guarantees to support the Mozambique liquefied natural gas project demonstrate the institution's commitment to expanding Africa's energy sector.

    “The lack of international investment in Africa's energy sector impedes any progress in making energy poverty history and our fight against climate change.

    Afreximbank has remained supportive, proactive and resilient, financing small and large-scale projects throughout the African energy sector.

    In 2022, where 600 million people still do not have access to electricity and 900 million people do not have access to a clean kitchen, the support of pan-African financial providers such as Afreximbank is of paramount importance”, says NJ Ayuk, CEO of AEC , adding that, “We are excited to host such a high-level delegation from one of Africa's leading financial institutions.

    Afreximbank represents a key partner for African projects, and we look forward to a series of agreements being signed and new partnerships forged that will put the continent on the right track to make energy poverty history by 2030.” Alongside other high-level delegates in Cape Town, the Afreximbank delegation will participate in roundtables, investor forums and one-on-one meetings, laying the groundwork for a strong energy future to be established through oil and gas.

    Led by Professor Oramah, the Afreximbank delegation will come to AEW 2022 for a real debate on Africa's energy future, a debate focused on Africa's needs, goals and commitments.

  •  Eight hundred indigenes in 112 host communities of an oil company operating in the Niger Delta are to benefit from its 20212022 scholarship scheme The company Heritage Energy Operational Services Ltd HEOSL is the operator of the Oil Mining Lease OML 30 Joint Venture between NNPC Exploration and Production Ltd and Shoreline Natural Resources Ltd Its General Manager Government Joint Venture and External Relations Mr Sola Adebawo stated on Friday that applications for the scholarships would be processed between Aug 19 and Aug 19 and Nov 19 He stated that the OML 30 scholarship scheme had supported more than 4 300 scholars from the host communities since its inception in 2012 OML 30 he added had contributed to ensuring access to quality education in secondary schools and universities by indigenes of its host communities Adebawo quoted the Chief Executive Officer of HEOSL Mr Ado Oseragbaje as saying that the company and its Joint Venture partners considered education as crucial to national development This is why we are committed to supporting educational development in communities neighbouring our operations as well as in Delta State in general he stated Adebawo explained that the company s corporate social responsibility is targeted at the thematic areas of education health and economic empowerment The News Agency of Nigeria reports that HEOSL is a subsidiary of Heritage Oil Ltd a Jersey United States based oil and gas exploration and production company and equity owner in SNRL NewsSourceCredit NAN
    Oil firm announces 800 scholarships for children in 112 host communities
     Eight hundred indigenes in 112 host communities of an oil company operating in the Niger Delta are to benefit from its 20212022 scholarship scheme The company Heritage Energy Operational Services Ltd HEOSL is the operator of the Oil Mining Lease OML 30 Joint Venture between NNPC Exploration and Production Ltd and Shoreline Natural Resources Ltd Its General Manager Government Joint Venture and External Relations Mr Sola Adebawo stated on Friday that applications for the scholarships would be processed between Aug 19 and Aug 19 and Nov 19 He stated that the OML 30 scholarship scheme had supported more than 4 300 scholars from the host communities since its inception in 2012 OML 30 he added had contributed to ensuring access to quality education in secondary schools and universities by indigenes of its host communities Adebawo quoted the Chief Executive Officer of HEOSL Mr Ado Oseragbaje as saying that the company and its Joint Venture partners considered education as crucial to national development This is why we are committed to supporting educational development in communities neighbouring our operations as well as in Delta State in general he stated Adebawo explained that the company s corporate social responsibility is targeted at the thematic areas of education health and economic empowerment The News Agency of Nigeria reports that HEOSL is a subsidiary of Heritage Oil Ltd a Jersey United States based oil and gas exploration and production company and equity owner in SNRL NewsSourceCredit NAN
    Oil firm announces 800 scholarships for children in 112 host communities
    General news1 month ago

    Oil firm announces 800 scholarships for children in 112 host communities

    Eight hundred indigenes in 112 host communities of an oil company operating in the Niger Delta are to benefit from its 20212022 scholarship scheme.

    The company, Heritage Energy Operational Services Ltd., (HEOSL), is the operator of the Oil Mining Lease (OML) 30 Joint Venture between NNPC Exploration and Production Ltd. and Shoreline Natural Resources Ltd. Its General Manager, Government, Joint Venture and External Relations, Mr Sola Adebawo stated on Friday that applications for the scholarships would be processed between Aug. 19 and Aug. 19 and Nov. 19. He stated that the OML 30 scholarship scheme had supported more than 4,300 scholars from the host communities since its inception in 2012. OML 30, he added, had contributed to ensuring access to quality education in secondary schools and universities by indigenes of its host communities.

    Adebawo quoted the Chief Executive Officer of HEOSL, Mr Ado Oseragbaje, as saying that the company and its Joint Venture partners considered education as crucial to national development.

    “This is why we are committed to supporting educational development in communities neighbouring our operations as well as in Delta State in general,’’ he stated.

    Adebawo explained that the company’s corporate social responsibility is targeted at the thematic areas of education, health and economic empowerment.

    The News Agency of Nigeria reports that HEOSL is a subsidiary of Heritage Oil Ltd., a Jersey, United States-based oil and gas exploration and production company and equity owner in SNRL.


    NewsSourceCredit: NAN

  •  Heritage Energy Operational Services Limited HEOSL has announced the commencement of the OML 30 Scholarship Intake Process for indigenes of its host communities The company made the announcement in a statement issued by its General Manager Government Joint Venture and External Relations Sola Adebawo on Friday in Lagos The News Agency of Nigeria reports that the HEOSL is the operator of the OML 30 joint venture between NNPC Exploration and Production Limited formerly NPDC and Shoreline Natural Resources Limited SNRL located in Delta Adebawo said the intake process would hold from Aug 19 to Nov 19 across the 112 communities for secondary and university applicants for the 20212022 academic year According to him about 800 scholars will benefit from this year s batch of the scholarship initiative Since inception in 2012 the OML 30 scholarship scheme has supported more than 4 300 scholars from the 112 host communities ensuring access to quality education in secondary schools and universities This initiative is in line with the United Nation Sustainable Development Goal SDG 4 on education The statement also quoted Mr Ado Oseragbaje the Chief Executive Officer HEOSL as saying the company and its Joint Venture Partners consider education as critical to national development This is why we are committed to supporting educational development in the communities neighbouring our operations as well as in Delta State in general he said According to him the OML 30 scholarship scheme is one of the many corporate social responsibility initiatives facilitated by HEOSL in its areas of operation Oseragbaje said the company s social performance efforts were targeted at the thematic areas of education health and economic empowerment NewsSourceCredit NAN
    Heritage Energy begins scholarship intake for OML 30 host communities
     Heritage Energy Operational Services Limited HEOSL has announced the commencement of the OML 30 Scholarship Intake Process for indigenes of its host communities The company made the announcement in a statement issued by its General Manager Government Joint Venture and External Relations Sola Adebawo on Friday in Lagos The News Agency of Nigeria reports that the HEOSL is the operator of the OML 30 joint venture between NNPC Exploration and Production Limited formerly NPDC and Shoreline Natural Resources Limited SNRL located in Delta Adebawo said the intake process would hold from Aug 19 to Nov 19 across the 112 communities for secondary and university applicants for the 20212022 academic year According to him about 800 scholars will benefit from this year s batch of the scholarship initiative Since inception in 2012 the OML 30 scholarship scheme has supported more than 4 300 scholars from the 112 host communities ensuring access to quality education in secondary schools and universities This initiative is in line with the United Nation Sustainable Development Goal SDG 4 on education The statement also quoted Mr Ado Oseragbaje the Chief Executive Officer HEOSL as saying the company and its Joint Venture Partners consider education as critical to national development This is why we are committed to supporting educational development in the communities neighbouring our operations as well as in Delta State in general he said According to him the OML 30 scholarship scheme is one of the many corporate social responsibility initiatives facilitated by HEOSL in its areas of operation Oseragbaje said the company s social performance efforts were targeted at the thematic areas of education health and economic empowerment NewsSourceCredit NAN
    Heritage Energy begins scholarship intake for OML 30 host communities
    General news1 month ago

    Heritage Energy begins scholarship intake for OML 30 host communities

    Heritage Energy Operational Services Limited (HEOSL) has announced the commencement of the OML 30 Scholarship Intake Process for indigenes of its host communities.

    The company made the announcement in a statement issued by its General Manager Government, Joint Venture and External Relations, Sola Adebawo on Friday in Lagos.

    The News Agency of Nigeria reports that the HEOSL is the operator of the OML 30 joint venture between NNPC Exploration and Production Limited (formerly NPDC) and Shoreline Natural Resources Limited (SNRL) located in Delta.

    Adebawo said the intake process would hold from Aug. 19 to Nov. 19 across the 112 communities for secondary and university applicants for the 20212022 academic year.

    According to him, about 800 scholars will benefit from this year’s batch of the scholarship initiative.

    “Since inception in 2012, the OML 30 scholarship scheme has supported more than 4,300 scholars from the 112 host communities ensuring access to quality education in secondary schools and universities.

    “This initiative is in line with the United Nation Sustainable Development Goal (SDG-4) on education.

    ’’ The statement also quoted Mr Ado Oseragbaje, the Chief Executive Officer, HEOSL as saying “the company and its Joint Venture Partners consider education as critical to national development.

    ’’ “This is why we are committed to supporting educational development in the communities neighbouring our operations as well as in Delta State in general,’’ he said.

    According to him, the OML 30 scholarship scheme is one of the many corporate social responsibility initiatives facilitated by HEOSL in its areas of operation.

    Oseragbaje said the company’s social performance efforts were targeted at the thematic areas of education, health and economic empowerment.


    NewsSourceCredit: NAN

  •  The ExxonMobil Nigeria has expressed commitment to maintain a significant Deepwater presence in Nigeria for the next 20 years to unlock potential value in its renewed Oil Mining Leases OMLs The Execute Director and General Counsel ExxonMobil Nigeria Adesua Dozie disclosed this to the News Agency of Nigeria on Sunday in Abuja NAN reports that the Nigerian National Petroleum Company Limited NNPC Ltd and its partners in the OMLs on Friday executed fully termed agreements for renegotiated Production Sharing Contracts PSCs The renegotiations will put to rest the protracted dispute between the NNPC Ltd and the Contractor Parties in OMLs 125 128 130 132 and 133 as well as 138 PSCs Under this development the ExxonMobil Nigeria renewed its OMLs 133 Erha and 138 Usan deep water leases for a further 20 year period The Petroleum Industry Act PIA 2021 gave the NNPC Ltd the legal backing to renegotiate all its existing PSCs in conformance to the provisions of the new Act within a one year period The PIA in Section 311 2 stipulates that new PSCs agreements under new Heads of Terms should be signed between NNPC Ltd as Concessionaire and her Contractor Parties within one year of signing the PIA into law This provision paved the way for the resolution of lingering disputes which created investment uncertainty and stifled new investments in the nation s deep offshore assets The renewed PSCs would generate 10 billion barrels of oil cumulatively unlock opportunities within the Nigeria upstream sector enhance revenue inflow of Foreign Direct Investments and expand access to affordable energy and job creation Speaking with NAN the General Counsel described the renewed agreements as fantastic and exciting deal after many years of dispute adding that it would bring additional investments and spur economic growth She expressed satisfaction over the implementation of PIA 2021 which recognised the potential and future for the deep water businesses in Nigeria As for my company what this means is significant deep water presence for our company in Nigeria for the next 20 years she said The company in its twitter handle Exxonmobil NG had announced the renewals of its OMLs 133 Erha and 138 Usan deep water leases for a further 20 year period This includes extensions of Production Sharing Contracts with our partner NNPC Ltd These renewals validate ExxonMobil Nigeria s earlier commitment to maintain a significant deep water presence in Nigeria via Esso Exploration and Production Nigeria Deepwater Limited EEPNL the company said ELLA NewsSourceCredit NAN
    Oil Mining Leases: ExxonMobil optimistic to unlock potential value
     The ExxonMobil Nigeria has expressed commitment to maintain a significant Deepwater presence in Nigeria for the next 20 years to unlock potential value in its renewed Oil Mining Leases OMLs The Execute Director and General Counsel ExxonMobil Nigeria Adesua Dozie disclosed this to the News Agency of Nigeria on Sunday in Abuja NAN reports that the Nigerian National Petroleum Company Limited NNPC Ltd and its partners in the OMLs on Friday executed fully termed agreements for renegotiated Production Sharing Contracts PSCs The renegotiations will put to rest the protracted dispute between the NNPC Ltd and the Contractor Parties in OMLs 125 128 130 132 and 133 as well as 138 PSCs Under this development the ExxonMobil Nigeria renewed its OMLs 133 Erha and 138 Usan deep water leases for a further 20 year period The Petroleum Industry Act PIA 2021 gave the NNPC Ltd the legal backing to renegotiate all its existing PSCs in conformance to the provisions of the new Act within a one year period The PIA in Section 311 2 stipulates that new PSCs agreements under new Heads of Terms should be signed between NNPC Ltd as Concessionaire and her Contractor Parties within one year of signing the PIA into law This provision paved the way for the resolution of lingering disputes which created investment uncertainty and stifled new investments in the nation s deep offshore assets The renewed PSCs would generate 10 billion barrels of oil cumulatively unlock opportunities within the Nigeria upstream sector enhance revenue inflow of Foreign Direct Investments and expand access to affordable energy and job creation Speaking with NAN the General Counsel described the renewed agreements as fantastic and exciting deal after many years of dispute adding that it would bring additional investments and spur economic growth She expressed satisfaction over the implementation of PIA 2021 which recognised the potential and future for the deep water businesses in Nigeria As for my company what this means is significant deep water presence for our company in Nigeria for the next 20 years she said The company in its twitter handle Exxonmobil NG had announced the renewals of its OMLs 133 Erha and 138 Usan deep water leases for a further 20 year period This includes extensions of Production Sharing Contracts with our partner NNPC Ltd These renewals validate ExxonMobil Nigeria s earlier commitment to maintain a significant deep water presence in Nigeria via Esso Exploration and Production Nigeria Deepwater Limited EEPNL the company said ELLA NewsSourceCredit NAN
    Oil Mining Leases: ExxonMobil optimistic to unlock potential value
    General news1 month ago

    Oil Mining Leases: ExxonMobil optimistic to unlock potential value

    The ExxonMobil Nigeria has expressed commitment to maintain a significant Deepwater presence in Nigeria for the next 20 years to unlock potential value in its renewed Oil Mining Leases (OMLs) The Execute Director and General Counsel, ExxonMobil Nigeria, Adesua Dozie, disclosed this to the News Agency of Nigeria on Sunday in Abuja.

    NAN reports that the Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners in the OMLs on Friday executed fully termed agreements for renegotiated Production Sharing Contracts (PSCs).

    The renegotiations will put to rest the protracted dispute between the NNPC Ltd. and the Contractor Parties in OMLs 125, 128, 130, 132 and 133, as well as 138 PSCs. Under this development, the ExxonMobil Nigeria renewed its OMLs 133 (Erha) and 138 (Usan) deep-water leases for a further 20-year period.

    The Petroleum Industry Act (PIA) 2021 gave the NNPC Ltd. the legal backing to renegotiate all its existing PSCs in conformance to the provisions of the new Act within a one year period.

    The PIA, in Section 311(2) stipulates that new PSCs agreements under new Heads of Terms should be signed between NNPC Ltd. as Concessionaire and her Contractor Parties within one year of signing the PIA into law.

    This provision paved the way for the resolution of lingering disputes which created investment uncertainty and stifled new investments in the nation’s deep offshore assets.

    The renewed PSCs would generate 10 billion barrels of oil cumulatively, unlock opportunities within the Nigeria upstream sector, enhance revenue, inflow of Foreign Direct Investments and expand access to affordable energy and job creation.

    Speaking with NAN, the General Counsel described the renewed agreements as fantastic and exciting deal, after many years of dispute, adding that it would bring additional investments and spur economic growth.

    She expressed satisfaction over the implementation of PIA 2021 which recognised the potential and future for the deep water businesses in Nigeria.

    “As for my company, what this means is significant deep water presence for our company in Nigeria for the next 20 years,” she said.

    The company, in its twitter handle, @Exxonmobil -NG had announced the renewals of its OMLs 133 (Erha) and 138 (Usan) deep-water leases for a further 20-year period.

    “This includes extensions of Production Sharing Contracts with our partner NNPC Ltd. “These renewals validate ExxonMobil Nigeria’s earlier commitment to maintain a significant deep-water presence in Nigeria, via Esso Exploration and Production Nigeria (Deepwater) Limited (EEPNL),” the company said.

    ELLA
    NewsSourceCredit: NAN

  •  The Nigerian Upstream Petroleum Regulatory Commission NUPRC says it will adopt new approach in the administration of licences and leases especially as it concerns acreage allocation to attain the objectives set by the Petroleum Industry Act PIA The Chief Executive Officer CEO of NUPRC Mr Gbenga Komolafe said in a statement on Friday that the new approach would optimise value in the new acreage management and administration of allocation principles enunciated in the PIA To position the Commission on a performance centred paradigm for acreage management a new strategy of acreage allocation management and administration based on a holistic assessment of the prior performance of all licences and leases awarded prior to the PIA is required he said According to Komolafe the commission will seek to identify the areas of regulatory under performance in acreage management and administration leading to failure of licensees and lessees inability to carry out licence and lease performance obligations The commission would also seek to identify other issues including acquisition of data drilling of wells and maturing of identified leads and prospects within the licence or lease span The CEO in a memo to senior management staff of the commission also listed the aspects of the new strategy to include review assignee performance and contributions to licences and lessees and review compliance performance in reporting milestones by licensees and lessees and the administration of regulatory consequence mechanisms Other aspect of the new strategy would include to review loss allocation by licensees and lessees under the PIA These include production cost and revenue as well as performance review of existing multi client arrangements and streamlining ongoing activities to the PIA The assessment framework will require all existing licences and lessees to undergo a performance assessment audit of operation of licences and leases based on a framework to be developed by Lease and focussed on OPLs OMLs Marginal Fields and Multi client arrangements Evaluation is expected to cover the following Compliance with environmental requirements and with work programme commitments compliance with revenue payment obligations and reporting obligations Others are audit of operation systems and third party provider activities and assessment of assignee roles and performance obligations In the new dispensation there will be need for a team with representation from relevant departments to achieve performance schematic of existing licences and leases identify oversight weakness identify licencee and lessee centred failures in regulatory reporting requirements and other performance indices Also in the new dispensation there will be improved oversight mechanism in line with the objective of the PIA and aspects of new strategy as well as develop fresh Standard Operating Procedures SOP for acreage management and lease administration in line with the PIA The team which will be made up of a member each from Exploration and Acreage Management Development amp Production Health Safety Environment and Community Economic Regulation and Strategic Planning and the Legal Secretary Departments is expected to submit a final report by Aug 30 the statement further quoted Komolafe as saying NewsSourceCredit NAN
    NUPRC adopts new approach in acreage management, lease administration
     The Nigerian Upstream Petroleum Regulatory Commission NUPRC says it will adopt new approach in the administration of licences and leases especially as it concerns acreage allocation to attain the objectives set by the Petroleum Industry Act PIA The Chief Executive Officer CEO of NUPRC Mr Gbenga Komolafe said in a statement on Friday that the new approach would optimise value in the new acreage management and administration of allocation principles enunciated in the PIA To position the Commission on a performance centred paradigm for acreage management a new strategy of acreage allocation management and administration based on a holistic assessment of the prior performance of all licences and leases awarded prior to the PIA is required he said According to Komolafe the commission will seek to identify the areas of regulatory under performance in acreage management and administration leading to failure of licensees and lessees inability to carry out licence and lease performance obligations The commission would also seek to identify other issues including acquisition of data drilling of wells and maturing of identified leads and prospects within the licence or lease span The CEO in a memo to senior management staff of the commission also listed the aspects of the new strategy to include review assignee performance and contributions to licences and lessees and review compliance performance in reporting milestones by licensees and lessees and the administration of regulatory consequence mechanisms Other aspect of the new strategy would include to review loss allocation by licensees and lessees under the PIA These include production cost and revenue as well as performance review of existing multi client arrangements and streamlining ongoing activities to the PIA The assessment framework will require all existing licences and lessees to undergo a performance assessment audit of operation of licences and leases based on a framework to be developed by Lease and focussed on OPLs OMLs Marginal Fields and Multi client arrangements Evaluation is expected to cover the following Compliance with environmental requirements and with work programme commitments compliance with revenue payment obligations and reporting obligations Others are audit of operation systems and third party provider activities and assessment of assignee roles and performance obligations In the new dispensation there will be need for a team with representation from relevant departments to achieve performance schematic of existing licences and leases identify oversight weakness identify licencee and lessee centred failures in regulatory reporting requirements and other performance indices Also in the new dispensation there will be improved oversight mechanism in line with the objective of the PIA and aspects of new strategy as well as develop fresh Standard Operating Procedures SOP for acreage management and lease administration in line with the PIA The team which will be made up of a member each from Exploration and Acreage Management Development amp Production Health Safety Environment and Community Economic Regulation and Strategic Planning and the Legal Secretary Departments is expected to submit a final report by Aug 30 the statement further quoted Komolafe as saying NewsSourceCredit NAN
    NUPRC adopts new approach in acreage management, lease administration
    General news2 months ago

    NUPRC adopts new approach in acreage management, lease administration

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it will adopt new approach in the administration of licences and leases, especially as it concerns acreage allocation, to attain the objectives set by the Petroleum Industry Act (PIA).

    The Chief Executive Officer (CEO) of NUPRC, Mr Gbenga Komolafe, said in a statement on Friday that the new approach would optimise value in the new acreage management and administration of allocation principles enunciated in the PIA.

    “To position the Commission on a performance centred paradigm for acreage management, a new strategy of acreage allocation, management and administration based on a holistic assessment of the prior performance of all licences and leases awarded prior to the PIA is required,” he said.

    According to Komolafe, the commission will seek to identify the areas of regulatory under performance in acreage management and administration, leading to failure of licensees and lessees inability to carry out licence and lease performance obligations.

    The commission would also seek to identify other issues, including acquisition of data, drilling of wells and maturing of identified leads and prospects within the licence or lease span.

    The CEO in a memo to senior management staff of the commission, also listed the aspects of the new strategy to include review assignee performance and contributions to licences and lessees and review compliance performance in reporting milestones by licensees and lessees and the administration of regulatory consequence mechanisms.

    Other aspect of the new strategy would include to review loss allocation by licensees and lessees under the PIA.

    These include production, cost and revenue, as well as performance review of existing multi-client arrangements and streamlining ongoing activities to the PIA.

    “The assessment framework will require all existing licences and lessees to undergo a performance assessment audit of operation of licences and leases based on a framework to be developed by Lease and focussed on OPLs, OMLs, Marginal Fields and Multi client arrangements.

    “Evaluation is expected to cover the following: Compliance with environmental requirements and with work programme commitments, compliance with revenue payment obligations and reporting obligations.

    Others are audit of operation systems and third-party provider activities and assessment of assignee roles and performance obligations.

    ” “In the new dispensation, there will be need for a team with representation from relevant departments to achieve performance schematic of existing licences and leases; identify oversight weakness, identify licencee and lessee centred failures in regulatory reporting requirements and other performance indices.

    “Also in the new dispensation, there will be improved oversight mechanism in line with the objective of the PIA and aspects of new strategy as well as develop fresh Standard Operating Procedures (SOP) for acreage management and lease administration in line with the PIA.

    “The team, which will be made up of a member each from Exploration and Acreage Management: Development & Production; Health, Safety, Environment and Community; Economic Regulation and Strategic Planning and the Legal Secretary Departments, is expected to submit a final report by Aug. 30.” the statement further quoted Komolafe as saying.


    NewsSourceCredit: NAN

  •  Mr Ado Oseragbaje Chief Executive Officer CEO Heritage Energy Operational Services Limited HEOSL has called on Federal Government to use its comparative advantage and work to position Nigeria as the energy hub of Africa Oseragbaje made the call at the ongoing Nigeria Annual Conference and Exhibition of the Society of Petroleum Engineers in Lagos He said as an energy expert Nigeria could leverage on its qualified lead and work to achieve the success for the country and place the nation higher among comity of nations Mr Sola Adebawo General Manager Govt JV amp External Relations HEOSL said the CEO was speaking during a brief remark at the opening of the topical issues panel discussion at the conference The HEOSL CEO said With the world seeking to transition to zero net emission by 2050 it was a matter of existential imperative for the Nigerian energy industry to appropriately contextualise its place in the fast evolving scheme of things At Heritage Energy Operational Services Limited HEOSL we believe the Nigerian industry holds a prime place in the global energy landscape It is our expectation that today s discussions will explore thoughts and ideas on how to best make the Nigerian industry realize its fullest potentials HEOSL is the operator of OML 30 Joint Venture between the Nigeria Petroleum Development Company NPDC and Shoreline Natural Resources Limited SNRL He called on industry players to engage in open minded conversations on how best to position the Nigerian energy industry for sustainable profitability and relevance in the global energy space NewsSourceCredit NAN
    Transform Nigeria to Energy Hub of Africa – Heritage Energy
     Mr Ado Oseragbaje Chief Executive Officer CEO Heritage Energy Operational Services Limited HEOSL has called on Federal Government to use its comparative advantage and work to position Nigeria as the energy hub of Africa Oseragbaje made the call at the ongoing Nigeria Annual Conference and Exhibition of the Society of Petroleum Engineers in Lagos He said as an energy expert Nigeria could leverage on its qualified lead and work to achieve the success for the country and place the nation higher among comity of nations Mr Sola Adebawo General Manager Govt JV amp External Relations HEOSL said the CEO was speaking during a brief remark at the opening of the topical issues panel discussion at the conference The HEOSL CEO said With the world seeking to transition to zero net emission by 2050 it was a matter of existential imperative for the Nigerian energy industry to appropriately contextualise its place in the fast evolving scheme of things At Heritage Energy Operational Services Limited HEOSL we believe the Nigerian industry holds a prime place in the global energy landscape It is our expectation that today s discussions will explore thoughts and ideas on how to best make the Nigerian industry realize its fullest potentials HEOSL is the operator of OML 30 Joint Venture between the Nigeria Petroleum Development Company NPDC and Shoreline Natural Resources Limited SNRL He called on industry players to engage in open minded conversations on how best to position the Nigerian energy industry for sustainable profitability and relevance in the global energy space NewsSourceCredit NAN
    Transform Nigeria to Energy Hub of Africa – Heritage Energy
    General news2 months ago

    Transform Nigeria to Energy Hub of Africa – Heritage Energy

    Mr Ado Oseragbaje, Chief Executive Officer, (CEO), Heritage Energy Operational Services Limited (HEOSL), has called on Federal Government to use its comparative advantage and work to position Nigeria as the energy hub of Africa.

    Oseragbaje made the call at the ongoing Nigeria Annual Conference and Exhibition of the Society of Petroleum Engineers in Lagos.

    He said  as an  energy expert, Nigeria could leverage on its qualified lead and work to achieve the success for the country and place the nation higher among comity of nations.

    Mr Sola Adebawo General Manager, Govt. JV & External Relations, HEOSL said the CEO was speaking during a brief remark at the opening of the topical issues panel discussion at the conference.

    The HEOSL CEO said “With the world seeking to transition to zero net emission by 2050, it was a matter of existential imperative for the Nigerian energy industry to appropriately contextualise its place in the fast-evolving scheme of things.

    “At Heritage Energy Operational Services Limited (HEOSL) we believe the Nigerian industry holds a prime place in the global energy landscape.

    “It is our expectation that today’s discussions will explore thoughts and ideas on how to best make the Nigerian industry realize its fullest potentials.

    ” HEOSL is the operator of OML 30 Joint Venture between the Nigeria Petroleum Development Company (NPDC) and Shoreline Natural Resources Limited (SNRL).

    He called on industry players to engage in open minded conversations on how best to position the Nigerian energy industry for sustainable profitability and relevance in the global energy space.

    (
    NewsSourceCredit: NAN

  •   The African Export Import Bank Afreximbank has officially partnered with the continent s premier energy event African Energy Week AEW 2022 AECWeek com which takes place from October 18 21 in Cape Town in a move that is expected to reawaken a new era of deal making local content and multi sector expansion Under a mandate to make energy poverty history in Africa by 2030 the partnership will see both AEW and Afreximbank unite the power of investment and value creation driving stronger energy developments in 2022 and beyond As a leading pan African financial services provider Afreximbank has established itself as a major player and key enabler of Africa s commercial finance sector From financing key projects to creating opportunities for capital deals and partnerships the bank has driven and continues to drive multi sector growth in Africa On the energy front the bank has become one of the leading providers of financial services with notable deals including the 200 million credit line agreement signed with the Egypt General Petroleum Company to enhance expansion power generation and distribution in Egypt 400 million in loans and guarantees to support the Mozambique liquefied natural gas project 700 million to support Sudan s energy and communications expansion 250 million credit to Trans Niger Oil and Gas Ltd to help facilitate the acquisition of a 45 interest in the OML 17 onshore oil field and a 500 million financing facility to assist the South Sudanese government with energy transmission infrastructure and agriculture projects With the partnership both AEW and the bank are committed to seeing even more deals on the table with the conference providing the most suitable platform to sign seal and deliver deals Meanwhile having made significant progress in financing and promoting intra African trade and local content Afreximbank recognizes the need for an intra African energy boost one based on improved trade finance and collaboration With the implementation of the African Continental Free Trade Agreement AfCFTA in January 2021 new opportunities for continental trade have arisen and during AEW 2022 the bank will make a strong case for regional cooperation and trade Just last month Afreximbank s Board of Directors approved the renewal of a 1 billion line of credit to operationalize the AfCFTA demonstrating its commitment to trade finance in Africa As countries stakeholders and companies take advantage of the opportunities in the agreement the partnership between AEW and Afreximbank will only strengthen intra African trade as the bank continues to finance the growth of the continent together with AEW On the local content front Afreximbank has promoted the role of local companies in Africa s energy future providing the critical capital needed for growth asset acquisition and expansion Providing financing to both new and mature companies covering the energy and commercial spectrums the bank represents a key driver of the economic expansion of the continent Strengthening capacity building and local content Afreximbank last week announced a grant to the Greater Africa Initiative to train 200 young African entrepreneurs in intra African business and trade for three months while the Content Development and Monitoring Board of Nigeria announced that the Afreximbank invested more than 42 billion in support of African businesses between 2016 and 2020 This number is expected to grow as the bank continues its local content and intra African development drive AEW 2022 offers a platform to invest associate and progress This partnership is what the African energy sector needs right now With significant untapped resources spanning the entire energy spectrum as well as opportunities across the energy value chain the future of the African energy sector will be largely driven by the continent s ability to finance its own development That is what Afreximbank is all about and with its partnership with AEW 2022 you can expect a wave of deals capital commitments just energy transition and progress said NJ Ayuk CEO of the African Energy Chamber AEC adding that The spirit of starting and signing deals will drive AEW both during this year s conference and all subsequent conferences We have already identified several agreements and we see this partnership as key to making these agreements a reality The Afreximbank together with initiatives such as Team Energy Africa which aims to mobilize private sector financing for the accelerated deployment of clean energy in Africa will be key to ensuring that Africa realizes the full potential of its economic and energy sectors The Afreximbank AEW partnership will strengthen the continent s manufacturing industry enhance local content drive asset acquisition and independent African engagement while accelerating a just and inclusive energy transition and making energy poverty history in Africa
    Afreximbank becomes an official partner of the African Energy Week 2022
      The African Export Import Bank Afreximbank has officially partnered with the continent s premier energy event African Energy Week AEW 2022 AECWeek com which takes place from October 18 21 in Cape Town in a move that is expected to reawaken a new era of deal making local content and multi sector expansion Under a mandate to make energy poverty history in Africa by 2030 the partnership will see both AEW and Afreximbank unite the power of investment and value creation driving stronger energy developments in 2022 and beyond As a leading pan African financial services provider Afreximbank has established itself as a major player and key enabler of Africa s commercial finance sector From financing key projects to creating opportunities for capital deals and partnerships the bank has driven and continues to drive multi sector growth in Africa On the energy front the bank has become one of the leading providers of financial services with notable deals including the 200 million credit line agreement signed with the Egypt General Petroleum Company to enhance expansion power generation and distribution in Egypt 400 million in loans and guarantees to support the Mozambique liquefied natural gas project 700 million to support Sudan s energy and communications expansion 250 million credit to Trans Niger Oil and Gas Ltd to help facilitate the acquisition of a 45 interest in the OML 17 onshore oil field and a 500 million financing facility to assist the South Sudanese government with energy transmission infrastructure and agriculture projects With the partnership both AEW and the bank are committed to seeing even more deals on the table with the conference providing the most suitable platform to sign seal and deliver deals Meanwhile having made significant progress in financing and promoting intra African trade and local content Afreximbank recognizes the need for an intra African energy boost one based on improved trade finance and collaboration With the implementation of the African Continental Free Trade Agreement AfCFTA in January 2021 new opportunities for continental trade have arisen and during AEW 2022 the bank will make a strong case for regional cooperation and trade Just last month Afreximbank s Board of Directors approved the renewal of a 1 billion line of credit to operationalize the AfCFTA demonstrating its commitment to trade finance in Africa As countries stakeholders and companies take advantage of the opportunities in the agreement the partnership between AEW and Afreximbank will only strengthen intra African trade as the bank continues to finance the growth of the continent together with AEW On the local content front Afreximbank has promoted the role of local companies in Africa s energy future providing the critical capital needed for growth asset acquisition and expansion Providing financing to both new and mature companies covering the energy and commercial spectrums the bank represents a key driver of the economic expansion of the continent Strengthening capacity building and local content Afreximbank last week announced a grant to the Greater Africa Initiative to train 200 young African entrepreneurs in intra African business and trade for three months while the Content Development and Monitoring Board of Nigeria announced that the Afreximbank invested more than 42 billion in support of African businesses between 2016 and 2020 This number is expected to grow as the bank continues its local content and intra African development drive AEW 2022 offers a platform to invest associate and progress This partnership is what the African energy sector needs right now With significant untapped resources spanning the entire energy spectrum as well as opportunities across the energy value chain the future of the African energy sector will be largely driven by the continent s ability to finance its own development That is what Afreximbank is all about and with its partnership with AEW 2022 you can expect a wave of deals capital commitments just energy transition and progress said NJ Ayuk CEO of the African Energy Chamber AEC adding that The spirit of starting and signing deals will drive AEW both during this year s conference and all subsequent conferences We have already identified several agreements and we see this partnership as key to making these agreements a reality The Afreximbank together with initiatives such as Team Energy Africa which aims to mobilize private sector financing for the accelerated deployment of clean energy in Africa will be key to ensuring that Africa realizes the full potential of its economic and energy sectors The Afreximbank AEW partnership will strengthen the continent s manufacturing industry enhance local content drive asset acquisition and independent African engagement while accelerating a just and inclusive energy transition and making energy poverty history in Africa
    Afreximbank becomes an official partner of the African Energy Week 2022
    Africa2 months ago

    Afreximbank becomes an official partner of the African Energy Week 2022

    The African Export-Import Bank (Afreximbank) has officially partnered with the continent's premier energy event, African Energy Week (AEW) 2022 (AECWeek.com), which takes place from October 18-21 in Cape Town, in a move that is expected to reawaken a new era of deal-making, local content, and multi-sector expansion. Under a mandate to make energy poverty history in Africa by 2030, the partnership will see both AEW and Afreximbank unite the power of investment and value creation, driving stronger energy developments in 2022 and beyond.

    As a leading pan-African financial services provider, Afreximbank has established itself as a major player and key enabler of Africa's commercial finance sector. From financing key projects to creating opportunities for capital deals and partnerships, the bank has driven and continues to drive multi-sector growth in Africa. On the energy front, the bank has become one of the leading providers of financial services, with notable deals including the $200 million credit line agreement signed with the Egypt General Petroleum Company to enhance expansion. power generation and distribution in Egypt; $400 million in loans and guarantees to support the Mozambique liquefied natural gas project; $700 million to support Sudan's energy and communications expansion; $250 million credit to Trans Niger Oil and Gas Ltd to help facilitate the acquisition of a 45% interest in the OML 17 onshore oil field; and a $500 million financing facility to assist the South Sudanese government with energy transmission, infrastructure, and agriculture projects. With the partnership, both AEW and the bank are committed to seeing even more deals on the table, with the conference providing the most suitable platform to sign, seal and deliver deals.

    Meanwhile, having made significant progress in financing and promoting intra-African trade and local content, Afreximbank recognizes the need for an intra-African energy boost, one based on improved trade, finance and collaboration. With the implementation of the African Continental Free Trade Agreement (AfCFTA) in January 2021, new opportunities for continental trade have arisen and during AEW 2022, the bank will make a strong case for regional cooperation and trade. Just last month, Afreximbank's Board of Directors approved the renewal of a $1 billion line of credit to operationalize the AfCFTA, demonstrating its commitment to trade finance in Africa. As countries, stakeholders and companies take advantage of the opportunities in the agreement, the partnership between AEW and Afreximbank will only strengthen intra-African trade as the bank continues to finance the growth of the continent together with AEW.

    On the local content front, Afreximbank has promoted the role of local companies in Africa's energy future, providing the critical capital needed for growth, asset acquisition and expansion. Providing financing to both new and mature companies, covering the energy and commercial spectrums, the bank represents a key driver of the economic expansion of the continent.

    Strengthening capacity building and local content, Afreximbank last week announced a grant to the Greater Africa Initiative to train 200 young African entrepreneurs in intra-African business and trade for three months, while the Content Development and Monitoring Board of Nigeria announced that the Afreximbank invested more than $42 billion in support of African businesses between 2016 and 2020. This number is expected to grow as the bank continues its local content and intra-African development drive, AEW 2022 offers a platform to invest, associate and progress.

    “This partnership is what the African energy sector needs right now. With significant untapped resources spanning the entire energy spectrum, as well as opportunities across the energy value chain, the future of the African energy sector will be largely driven by the continent's ability to finance its own development. That is what Afreximbank is all about and with its partnership with AEW 2022, you can expect a wave of deals, capital commitments, just energy transition and progress,” said NJ Ayuk, CEO of the African Energy Chamber (AEC), adding that, “The spirit of starting and signing deals will drive AEW both during this year's conference and all subsequent conferences. We have already identified several agreements and we see this partnership as key to making these agreements a reality. The Afreximbank, together with initiatives such as Team Energy Africa, which aims to mobilize private sector financing for the accelerated deployment of clean energy in Africa, will be key to ensuring that Africa realizes the full potential of its economic and energy sectors.”

    The Afreximbank-AEW partnership will strengthen the continent's manufacturing industry, enhance local content, drive asset acquisition and independent African engagement while accelerating a just and inclusive energy transition and making energy poverty history in Africa.

  •  The Rotary Club of Port Harcourt Eco Chapter has called for the remediation of Otuabagi Community hosting Oloibiri oilfields in Ogbia Bayelsa The chapter President elect Mr Iniruo Wills a former Commissioner for Environment in Bayelsa made the call on Saturday during the club s engagement with stakeholders from the community The News Agency of Nigeria reports that Oloibiri is Nigeria s historical community where oil was first discovered in commercial quantities in 1956 Wills said the meeting was intended to draw attention to the adverse environmental effects after oil production stopped in the community many decades ago He said that the club s visit to Otuabagi was to take stock of the negative impact of oil exploration on the community and draw attention to the need for remediation He said that although oil exploration had stopped in the area over 30 years ago residual oil leakages still polluted the environment whenever it rained Wills further said that the development was subjecting residents to untold hardships due to the lack of measures to mitigate leaks from the dry wells He therefore called on the Federal Government and oil industry to be responsive to the plight of oil bearing communities especially when the oil wells had dried up In a speech a Public Health Physician Dr Bieye Briggs said that residents complained that crude still oozed out intermittently from the wellheads to pollute their environment Briggs said the people were in great danger adding that aquatic lives including fishes and shrimps were being destroyed by oil Those hydrocarbons discharged have been concentrated within the aquatic space and contaminate the fauna and flora and they become poisonous to human lives That is why within a period of 10 years to 15 years you begin to see cancer kidney diseases liver problems lungs and respiratory disorders because of the oil pollution in the environment he said Briggs also said that the residual oil leakages also affected the underground waters which the people also depended on He said that the community also reported that they often found oily sediments floating on their stream Also a former President of the club Mrs Emem Okon said the community had been neglected for years by oil and gas companies The President PH plus Eco Rotary Mr Davies Okarevu called on the people to join the club in order to contribute to the humanitarian eandeavours for the betterment of society Okarevu said the club is about giving back to society and having a sense of accomplishement in contributing to human progress The Acting Chairman Council of Chiefs Otuobagi Chief Joseph Erefa regretted that the community had been neglected for decades and schemed out through oil politics Erefa also called on the Federal Government and oil firms to reconsider their attitude toward the community He described the area as the goose that lays the golden egg and urged the oil companies to provide social amenities to alleviate the sufferings of the people NAN reports that the club visited Oil 1 and 2 known as Oloibiri oilfields within Oil Mining Lease 29 previously operated by Shell Production Development Company SPDC had in 2015 divested its interest in OML 29 which includes the 97 kilometer Nembe Creek Trunkline that links the Bonny Expirt Terminal to indegenous operator Aiteo for 2 4 billion NewsSourceCredit NAN
    Bayelsa: Rotary club urges remediation of Nigeria’s first oil-well community
     The Rotary Club of Port Harcourt Eco Chapter has called for the remediation of Otuabagi Community hosting Oloibiri oilfields in Ogbia Bayelsa The chapter President elect Mr Iniruo Wills a former Commissioner for Environment in Bayelsa made the call on Saturday during the club s engagement with stakeholders from the community The News Agency of Nigeria reports that Oloibiri is Nigeria s historical community where oil was first discovered in commercial quantities in 1956 Wills said the meeting was intended to draw attention to the adverse environmental effects after oil production stopped in the community many decades ago He said that the club s visit to Otuabagi was to take stock of the negative impact of oil exploration on the community and draw attention to the need for remediation He said that although oil exploration had stopped in the area over 30 years ago residual oil leakages still polluted the environment whenever it rained Wills further said that the development was subjecting residents to untold hardships due to the lack of measures to mitigate leaks from the dry wells He therefore called on the Federal Government and oil industry to be responsive to the plight of oil bearing communities especially when the oil wells had dried up In a speech a Public Health Physician Dr Bieye Briggs said that residents complained that crude still oozed out intermittently from the wellheads to pollute their environment Briggs said the people were in great danger adding that aquatic lives including fishes and shrimps were being destroyed by oil Those hydrocarbons discharged have been concentrated within the aquatic space and contaminate the fauna and flora and they become poisonous to human lives That is why within a period of 10 years to 15 years you begin to see cancer kidney diseases liver problems lungs and respiratory disorders because of the oil pollution in the environment he said Briggs also said that the residual oil leakages also affected the underground waters which the people also depended on He said that the community also reported that they often found oily sediments floating on their stream Also a former President of the club Mrs Emem Okon said the community had been neglected for years by oil and gas companies The President PH plus Eco Rotary Mr Davies Okarevu called on the people to join the club in order to contribute to the humanitarian eandeavours for the betterment of society Okarevu said the club is about giving back to society and having a sense of accomplishement in contributing to human progress The Acting Chairman Council of Chiefs Otuobagi Chief Joseph Erefa regretted that the community had been neglected for decades and schemed out through oil politics Erefa also called on the Federal Government and oil firms to reconsider their attitude toward the community He described the area as the goose that lays the golden egg and urged the oil companies to provide social amenities to alleviate the sufferings of the people NAN reports that the club visited Oil 1 and 2 known as Oloibiri oilfields within Oil Mining Lease 29 previously operated by Shell Production Development Company SPDC had in 2015 divested its interest in OML 29 which includes the 97 kilometer Nembe Creek Trunkline that links the Bonny Expirt Terminal to indegenous operator Aiteo for 2 4 billion NewsSourceCredit NAN
    Bayelsa: Rotary club urges remediation of Nigeria’s first oil-well community
    General news2 months ago

    Bayelsa: Rotary club urges remediation of Nigeria’s first oil-well community

    The Rotary Club of Port Harcourt Eco Chapter has called for the remediation of Otuabagi Community hosting Oloibiri oilfields in Ogbia, Bayelsa.

    The chapter President-elect, Mr Iniruo Wills, a former Commissioner for Environment in Bayelsa, made the call on Saturday during the club’s engagement with stakeholders from the community.

    The News Agency of Nigeria reports that Oloibiri is Nigeria’s historical community, where oil was first discovered in commercial quantities in 1956.

    Wills said the meeting was intended to draw attention to the adverse environmental effects after oil production stopped in the community many decades ago.

    He said that the club’s visit to Otuabagi was to take stock of the negative impact of oil exploration on the community and draw attention to the need for remediation.

    He said that although oil exploration had stopped in the area over 30 years ago, residual oil leakages still polluted the environment whenever it rained.

    Wills further said that the development was subjecting residents to untold hardships due to the lack of measures to mitigate leaks from the dry wells.

    He, therefore, called on the Federal Government and oil industry to be responsive to the plight of oil-bearing communities, especially when the oil wells had dried up.

    In a speech, a Public Health Physician, Dr Bieye Briggs, said that residents complained that crude still oozed out intermittently from the wellheads to pollute their environment.

    Briggs said the people were in great danger, adding that aquatic lives, including fishes and shrimps, were being destroyed by oil.

    “Those hydrocarbons discharged have been concentrated within the aquatic space and contaminate the fauna and flora and they become poisonous to human lives.

    “That is why within a period of 10 years to 15 years you begin to see cancer, kidney diseases, liver problems, lungs and respiratory disorders because of the oil pollution in the environment,” he said.

    Briggs also said that the residual oil leakages also affected the underground waters, which the people also depended on.

    He said that the community also reported that they often found oily sediments floating on their stream.

    Also, a former President of the club, Mrs Emem Okon, said the community had been neglected for years by oil and gas companies.

    The President PH plus-Eco Rotary, Mr Davies Okarevu, called on the people to join the club in order to contribute to the humanitarian eandeavours for the betterment of society.

    Okarevu said the club is about giving back to society and having a sense of accomplishement in contributing to human progress.

    The Acting Chairman, Council of Chiefs, Otuobagi, Chief Joseph Erefa, regretted that the community had been neglected for decades and schemed out through oil politics.

    Erefa also called on the Federal Government and oil firms to reconsider their attitude toward the community.

    He described the area as the ”goose that lays the golden egg” and urged the oil companies to provide social amenities to alleviate the sufferings of the people.

    NAN reports that the club visited Oil 1 and 2, known as Oloibiri oilfields within Oil Mining Lease 29, previously operated by Shell Production Development Company.

    SPDC had in 2015 divested its interest in OML 29, which includes the 97 kilometer Nembe Creek Trunkline that links the Bonny Expirt Terminal to indegenous operator, Aiteo for $2.4 billion.

    NewsSourceCredit: NAN

  •  The Elcrest Exploration and Production Nigeria limited has presented various relief items to two communities in Gbetiokun Delta recently affected by oil spill The company made the presentation on behalf of itself and the Nigeria Petroleum Development Company NPDC Operator of the OML 40 Joint Venture JV to Beresibi and Eghoro communities This is contained in a statement on Tuesday by Mr Ewoma Agba Elcrest s Community Relations Coordinator CRC According to Agba the gesture is to ameliorate the effects of an oil spill from MT Harcourt a vessel used by the JV to store produced crude oil before export in Gbetiokun OML 40 He said the donations which were a combination of cash and materials were part of its social citizenship covenant with host communities The Elcrest s CRC explained that the donation was consistent with the company s corporate social responsibility commitment to positively impact host communities and the environment We have noticed with utmost dismay the impact the spill brought to Gbetiokun The JV being a reputable organisation is responsible and responsive to the plights of the community where it operates He expressed the company s empathy with the communities plight knowing that the oil spill affected vegetation and surface water which were the major sources of their livelihood He charged the communities to be resilient and urged the leaders to ensure judicious distribution of the relief materials to those in dire need adding that the JV would monitor the exercise Agba also said that Mr Stanley Ekwejunor Etchie the Public Relations Officer PRO of the Beresibi Community on behalf of the community appreciated the JV partners for alleviating the plights of the people He also said that Ekwejunor Etchie called on other corporate bodies and well meaning individuals to emulate the kind gesture by supporting the affected communities Similarly Mr Bemigho Ebosa Eghoro Community s Public Relations Officer PRO lauded Elcrest s representatives for ensuring the delivery of the materials He also appealed to government at all levels oil companies and other relevant agencies to prevent a repeat of such occurrence which threatened the lives and economic mainstay of the community Mr Eniyan Henry Tonwe Chairman Ureju community in his remark also appreciated the gesture of the company and its partners and gave assurance that the items would be properly distributed NewsSourceCredit NAN
    Elcrest Exploration donates relief items to oil spill communities in Delta
     The Elcrest Exploration and Production Nigeria limited has presented various relief items to two communities in Gbetiokun Delta recently affected by oil spill The company made the presentation on behalf of itself and the Nigeria Petroleum Development Company NPDC Operator of the OML 40 Joint Venture JV to Beresibi and Eghoro communities This is contained in a statement on Tuesday by Mr Ewoma Agba Elcrest s Community Relations Coordinator CRC According to Agba the gesture is to ameliorate the effects of an oil spill from MT Harcourt a vessel used by the JV to store produced crude oil before export in Gbetiokun OML 40 He said the donations which were a combination of cash and materials were part of its social citizenship covenant with host communities The Elcrest s CRC explained that the donation was consistent with the company s corporate social responsibility commitment to positively impact host communities and the environment We have noticed with utmost dismay the impact the spill brought to Gbetiokun The JV being a reputable organisation is responsible and responsive to the plights of the community where it operates He expressed the company s empathy with the communities plight knowing that the oil spill affected vegetation and surface water which were the major sources of their livelihood He charged the communities to be resilient and urged the leaders to ensure judicious distribution of the relief materials to those in dire need adding that the JV would monitor the exercise Agba also said that Mr Stanley Ekwejunor Etchie the Public Relations Officer PRO of the Beresibi Community on behalf of the community appreciated the JV partners for alleviating the plights of the people He also said that Ekwejunor Etchie called on other corporate bodies and well meaning individuals to emulate the kind gesture by supporting the affected communities Similarly Mr Bemigho Ebosa Eghoro Community s Public Relations Officer PRO lauded Elcrest s representatives for ensuring the delivery of the materials He also appealed to government at all levels oil companies and other relevant agencies to prevent a repeat of such occurrence which threatened the lives and economic mainstay of the community Mr Eniyan Henry Tonwe Chairman Ureju community in his remark also appreciated the gesture of the company and its partners and gave assurance that the items would be properly distributed NewsSourceCredit NAN
    Elcrest Exploration donates relief items to oil spill communities in Delta
    General news2 months ago

    Elcrest Exploration donates relief items to oil spill communities in Delta

    The Elcrest Exploration and Production Nigeria limited has presented various relief items to two communities in Gbetiokun, Delta, recently affected by oil spill.

      The company made the presentation on behalf of itself and the Nigeria Petroleum Development Company (NPDC), Operator of the OML 40 Joint Venture (JV) to Beresibi and Eghoro communities.

    This is contained in a statement on Tuesday  by Mr Ewoma Agba, Elcrest’s Community Relations Coordinator (CRC).

    According to Agba, the gesture is to ameliorate the effects of an oil spill from MT Harcourt (a vessel used by the JV to store produced crude oil before export) in Gbetiokun (OML 40).

    He said the  donations, which were a combination of cash and materials, were part of its social citizenship covenant with host communities.

    The Elcrest’s CRC explained that the donation was consistent with the company’s corporate social responsibility commitment to positively impact host communities and the environment.

    “We have noticed with utmost dismay the impact the spill brought to Gbetiokun.

    “The JV being a reputable organisation, is responsible and responsive to the plights of the community where it operates.”He expressed the company’s empathy with the communities’ plight knowing that the oil spill affected vegetation and surface water which were the major sources of their livelihood.

    He charged the communities to be resilient and urged the leaders to ensure judicious distribution of the relief materials to those in dire need adding that the JV would monitor the exercise.

    Agba also said that Mr Stanley Ekwejunor-Etchie, the Public Relations Officer (PRO) of the Beresibi Community, on behalf of the community appreciated the JV partners for alleviating the plights of the people.

    He also said that Ekwejunor-Etchie called on other corporate bodies and well meaning individuals to emulate the kind gesture by supporting the affected communities.

    “Similarly, Mr Bemigho Ebosa, Eghoro Community’s Public Relations Officer (PRO), lauded Elcrest’s representatives for ensuring the delivery of the materials.

    He also appealed to government at all levels, oil companies, and other relevant agencies to prevent a repeat of such occurrence which threatened the lives and economic mainstay of the community.

    Mr Eniyan Henry Tonwe, Chairman, Ureju community, in his remark also appreciated the gesture of the company and its partners and gave assurance that the items would be properly distributed.

    NewsSourceCredit: NAN

  •   Nigeria represents one of the most mature oil and gas markets on the continent as well as the second largest oil producer in sub Saharan Africa The country s energy achievements have been largely attributed to the involvement of a number of international oil companies IOCs including TotalEnergies Shell Eni Chevron and ExxonMobil who Woomac says collectively have equity interests in over 110 oil extraction licenses and are responsible for 45 of the country s oil production as well as the leadership of the state owned Nigerian National Petroleum Corporation NNPC However with the IOC divestment of key hydrocarbon assets in light of the energy transition local Nigerian companies have stepped up buoyed by local content oriented regulation and the implementation of the African Continental Free Trade Agreement AFTA AfCFTA Market driven policies enhance national participation Nigeria represents a pioneer within the African oil and gas space with respect to the implementation of local content policies that aim to boost the participation of local companies In 2010 the government established the Nigerian Oil and Gas Industry Content Development Local Content Act a comprehensive framework to promote indigenous participation in the sector Specifically the Local Content Law prescribes minimum thresholds for the use of local products and services promoting the transfer of skills and technology for the Nigerian workforce ensures value addition and job creation and the award of oil and gas contracts and commitments to local companies In this regard regulation has been instrumental in enhancing the role of local businesses and creating a highly competitive domestic market in Nigeria With a bill for the amendment of the law currently being debated in which the modifications include expanding the definition of Nigerian companies and capacity compliance while revising the minimum target levels for imported items Nigeria is committed to significantly improving local content across the industry Meanwhile representing a key driver of Nigeria s domestic market the implementation of the Petroleum Industry Act PIA in 2021 has further supported Nigeria s domestic market While the PIA encompasses a complete overhaul of the oil and gas industry the commercialization of the NNPC the introduction of two regulatory agencies and ensuring greater transparency and accountability the legislation predominantly focuses on managing income and natural resources Therefore the Local Content Law continues to be mandatory in the country and will continue to promote the national sector Take Advantage of AfCFTA Opportunities With an environment conducive to stimulating the participation of local businesses the implementation of the AfCFTA in January 2021 only served to enhance the participation of indigenous Nigerian businesses creating new opportunities for intra African trade Specifically the AfCFTA includes the reduction of tariff and non tariff barriers the simplification of customs procedures and the elimination of bureaucracy to create a single market for goods people and services For Nigeria the AfCFTA is particularly important as it has improved regional supply networks national employment opportunities and capacity building in the regional oil and gas industry Nigerian companies can now benefit from better export opportunities regional investment and access to new logistics and distribution supply chains In this sense Nigerian companies have been able to increase their penetration in regional markets ensuring greater competitiveness throughout the regional market Nigerian companies take the lead Supported by the PIA the Local Content Act and the opportunities created by the AfCFTA local companies throughout the energy value chain in Nigeria have significantly improved their participation in the sector On the service business front companies like AOS Orwell Nigeria s largest indigenous oilfield service company Tecon Oil Services which provides a wide range of services to exploration and production companies in Nigeria s upstream industry and Century Energy Services Limited one of the largest providers of operations and maintenance services in West Africa have positioned themselves as key enablers of the growth of the Nigerian oil and gas market Meanwhile on the upstream side companies like the recently reformed NNPC and its subsidiary Nigerian Petroleum Development Company Amni International Petroleum Development Company active in a variety of offshore basins in West Africa Emerald Energy Resources an independent oil company with a vision to seek out and acquire profitable new reserves in Nigeria Frontier Oil Corporation a wholly owned Nigerian exploration and production company formed in 2001 South Atlantic Petroleum a private Nigerian oil and gas exploration and production company with a portfolio of high quality assets in West Africa and Eroton E amp P an independent oil and gas producer that operates OML 18 in the Niger Delta are driving Nigeria s exploration and production activities These companies are leading the country into a new era of domestic market growth while increasing the penetration of Nigerian companies in regional markets With Nigeria having partnered with the African Energy Chamber AEC for the 2022 edition of the continent s premier energy event African Energy Week AEW 2022 taking place from October 18 21 in Cape Town and under the motto Exploring and investing in Africa s energy future while fostering an enabling environment the country s domestic market is poised to present a strong case for investment and development in West Africa By participating in roundtables discussions and networking functions Nigerian companies will lead the dialogue and decision making on Africa s energy future
    Establishment of a highly competitive national hydrocarbon market in Nigeria
      Nigeria represents one of the most mature oil and gas markets on the continent as well as the second largest oil producer in sub Saharan Africa The country s energy achievements have been largely attributed to the involvement of a number of international oil companies IOCs including TotalEnergies Shell Eni Chevron and ExxonMobil who Woomac says collectively have equity interests in over 110 oil extraction licenses and are responsible for 45 of the country s oil production as well as the leadership of the state owned Nigerian National Petroleum Corporation NNPC However with the IOC divestment of key hydrocarbon assets in light of the energy transition local Nigerian companies have stepped up buoyed by local content oriented regulation and the implementation of the African Continental Free Trade Agreement AFTA AfCFTA Market driven policies enhance national participation Nigeria represents a pioneer within the African oil and gas space with respect to the implementation of local content policies that aim to boost the participation of local companies In 2010 the government established the Nigerian Oil and Gas Industry Content Development Local Content Act a comprehensive framework to promote indigenous participation in the sector Specifically the Local Content Law prescribes minimum thresholds for the use of local products and services promoting the transfer of skills and technology for the Nigerian workforce ensures value addition and job creation and the award of oil and gas contracts and commitments to local companies In this regard regulation has been instrumental in enhancing the role of local businesses and creating a highly competitive domestic market in Nigeria With a bill for the amendment of the law currently being debated in which the modifications include expanding the definition of Nigerian companies and capacity compliance while revising the minimum target levels for imported items Nigeria is committed to significantly improving local content across the industry Meanwhile representing a key driver of Nigeria s domestic market the implementation of the Petroleum Industry Act PIA in 2021 has further supported Nigeria s domestic market While the PIA encompasses a complete overhaul of the oil and gas industry the commercialization of the NNPC the introduction of two regulatory agencies and ensuring greater transparency and accountability the legislation predominantly focuses on managing income and natural resources Therefore the Local Content Law continues to be mandatory in the country and will continue to promote the national sector Take Advantage of AfCFTA Opportunities With an environment conducive to stimulating the participation of local businesses the implementation of the AfCFTA in January 2021 only served to enhance the participation of indigenous Nigerian businesses creating new opportunities for intra African trade Specifically the AfCFTA includes the reduction of tariff and non tariff barriers the simplification of customs procedures and the elimination of bureaucracy to create a single market for goods people and services For Nigeria the AfCFTA is particularly important as it has improved regional supply networks national employment opportunities and capacity building in the regional oil and gas industry Nigerian companies can now benefit from better export opportunities regional investment and access to new logistics and distribution supply chains In this sense Nigerian companies have been able to increase their penetration in regional markets ensuring greater competitiveness throughout the regional market Nigerian companies take the lead Supported by the PIA the Local Content Act and the opportunities created by the AfCFTA local companies throughout the energy value chain in Nigeria have significantly improved their participation in the sector On the service business front companies like AOS Orwell Nigeria s largest indigenous oilfield service company Tecon Oil Services which provides a wide range of services to exploration and production companies in Nigeria s upstream industry and Century Energy Services Limited one of the largest providers of operations and maintenance services in West Africa have positioned themselves as key enablers of the growth of the Nigerian oil and gas market Meanwhile on the upstream side companies like the recently reformed NNPC and its subsidiary Nigerian Petroleum Development Company Amni International Petroleum Development Company active in a variety of offshore basins in West Africa Emerald Energy Resources an independent oil company with a vision to seek out and acquire profitable new reserves in Nigeria Frontier Oil Corporation a wholly owned Nigerian exploration and production company formed in 2001 South Atlantic Petroleum a private Nigerian oil and gas exploration and production company with a portfolio of high quality assets in West Africa and Eroton E amp P an independent oil and gas producer that operates OML 18 in the Niger Delta are driving Nigeria s exploration and production activities These companies are leading the country into a new era of domestic market growth while increasing the penetration of Nigerian companies in regional markets With Nigeria having partnered with the African Energy Chamber AEC for the 2022 edition of the continent s premier energy event African Energy Week AEW 2022 taking place from October 18 21 in Cape Town and under the motto Exploring and investing in Africa s energy future while fostering an enabling environment the country s domestic market is poised to present a strong case for investment and development in West Africa By participating in roundtables discussions and networking functions Nigerian companies will lead the dialogue and decision making on Africa s energy future
    Establishment of a highly competitive national hydrocarbon market in Nigeria
    Africa2 months ago

    Establishment of a highly competitive national hydrocarbon market in Nigeria

    Nigeria represents one of the most mature oil and gas markets on the continent, as well as the second largest oil producer in sub-Saharan Africa. The country's energy achievements have been largely attributed to the involvement of a number of international oil companies (IOCs), including TotalEnergies, Shell, Eni, Chevron and ExxonMobil, who Woomac says collectively have equity interests in over 110 oil extraction licenses and are responsible for 45% of the country's oil production, as well as the leadership of the state-owned Nigerian National Petroleum Corporation (NNPC). However, with the IOC divestment of key hydrocarbon assets in light of the energy transition, local Nigerian companies have stepped up, buoyed by local content-oriented regulation and the implementation of the African Continental Free Trade Agreement (AFTA). AfCFTA).

    Market-driven policies enhance national participation

    Nigeria represents a pioneer within the African oil and gas space with respect to the implementation of local content policies that aim to boost the participation of local companies. In 2010, the government established the Nigerian Oil and Gas Industry Content Development (Local Content Act), a comprehensive framework to promote indigenous participation in the sector. Specifically, the Local Content Law prescribes minimum thresholds for the use of local products and services; promoting the transfer of skills and technology for the Nigerian workforce; ensures value addition and job creation; and the award of oil and gas contracts and commitments to local companies. In this regard, regulation has been instrumental in enhancing the role of local businesses and creating a highly competitive domestic market in Nigeria. With a bill for the amendment of the law currently being debated, in which the modifications include expanding the definition of Nigerian companies and capacity compliance while revising the minimum target levels for imported items, Nigeria is committed to significantly improving local content across the industry.

    Meanwhile, representing a key driver of Nigeria's domestic market, the implementation of the Petroleum Industry Act (PIA) in 2021 has further supported Nigeria's domestic market. While the PIA encompasses a complete overhaul of the oil and gas industry, the commercialization of the NNPC, the introduction of two regulatory agencies, and ensuring greater transparency and accountability, the legislation predominantly focuses on managing income and natural resources. Therefore, the Local Content Law continues to be mandatory in the country and will continue to promote the national sector.

    Take Advantage of AfCFTA Opportunities

    With an environment conducive to stimulating the participation of local businesses, the implementation of the AfCFTA in January 2021 only served to enhance the participation of indigenous Nigerian businesses, creating new opportunities for intra-African trade. Specifically, the AfCFTA includes the reduction of tariff and non-tariff barriers, the simplification of customs procedures and the elimination of bureaucracy to create a single market for goods, people and services. For Nigeria, the AfCFTA is particularly important as it has improved regional supply networks, national employment opportunities and capacity building in the regional oil and gas industry. Nigerian companies can now benefit from better export opportunities, regional investment and access to new logistics and distribution supply chains. In this sense, Nigerian companies have been able to increase their penetration in regional markets, ensuring greater competitiveness throughout the regional market.

    Nigerian companies take the lead

    Supported by the PIA, the Local Content Act and the opportunities created by the AfCFTA, local companies throughout the energy value chain in Nigeria have significantly improved their participation in the sector. On the service business front, companies like AOS Orwell, Nigeria's largest indigenous oilfield service company; Tecon Oil Services, which provides a wide range of services to exploration and production companies in Nigeria's upstream industry; and Century Energy Services Limited, one of the largest providers of operations and maintenance services in West Africa, have positioned themselves as key enablers of the growth of the Nigerian oil and gas market.

    Meanwhile, on the upstream side, companies like the recently reformed NNPC and its subsidiary Nigerian Petroleum Development Company; Amni International Petroleum Development Company, active in a variety of offshore basins in West Africa; Emerald Energy Resources, an independent oil company with a vision to seek out and acquire profitable new reserves in Nigeria; Frontier Oil Corporation, a wholly owned Nigerian exploration and production company formed in 2001; South Atlantic Petroleum, a private Nigerian oil and gas exploration and production company with a portfolio of high-quality assets in West Africa; and Eroton E&P, an independent oil and gas producer that operates OML 18 in the Niger Delta, are driving Nigeria's exploration and production activities. These companies are leading the country into a new era of domestic market growth while increasing the penetration of Nigerian companies in regional markets.

    With Nigeria having partnered with the African Energy Chamber (AEC) for the 2022 edition of the continent's premier energy event, African Energy Week (AEW) 2022, taking place from October 18-21 in Cape Town and under the motto "Exploring and investing". in Africa's energy future while fostering an enabling environment': the country's domestic market is poised to present a strong case for investment and development in West Africa. By participating in roundtables, discussions and networking functions, Nigerian companies will lead the dialogue and decision-making on Africa's energy future.