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Airborne Oil & Gas says it has secured a contract with Addax Petroleum to deliver two gas lift jumpers in Nigeria. The Netherlands-headquartered firm said this would result in its thermoplastic composite pipeline products becoming a permanent application in West Africa for the first time. It said it would supply two 180-metre-long TCP jumpers to support the Sinopec subsidiary’s operations in the Okwori field, off the coast of Nigeria, within an eight-week time frame…
More details through: https://punchng.com/netherlands-based-firm-gets-contract-from-addax/
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The hunt for land rigs by Anglo-Dutch super major Shell, and Nigerian independent Seplat Petroleum, probably shows exploration and production activities are about to pick-up again after active rig count in Nigeria fell by half last year.
Shell is getting ready for a major drilling programme and has gone to the market for two jack-ups and a pair of land rigs, one of which will have to handle high-pressure, high-temperature wells. Seplat Petroleum is also searching for a land drilling rig for work on Oil Mining Licence (OML) 53… More details through: https://businessday.ng/energy/oilandgas/article/shell-seplat-in-hunt-for-land-rigs-signals-possible-oil-recovery/ Seplat Petroleum Development Company Plc’s planned $700m Assa North /Ohaji South (ANOH) gas and condensate field project, at completion, is expected to contribute significantly in addressing Nigeria’s deficit in thermal power delivery.
This project straddles OML 53 (Seplat 40 per cent working interest and operator) and OML 21 (Shell JV)… More details through: https://businessday.ng/energy/oilandgas/article/seplats-700m-anoh-gas-investment-to-address-nigerias-power-deficit/ Green Energy International Limited, operator of the Otakikpo marginal field in Oil Mining Lease 11 in Rivers State, on Sunday, announced the signing of a $350m Memorandum of Understanding with a consortium of international companies for the development of the marginal field and others in the area.
It said the international companies include an oil services giant, a London-based international bank, a prominent crude oil off-taker and an EPC contractor for the second phase development of the Otakikpo field involving a total package of $350m… More details through: https://punchng.com/oil-firms-sign-350m-deal-to-develop-marginal-fields Nigeria’s NNPC said on Thursday it was planning to change the way energy joint ventures paid operating costs to help ensure smooth financing for projects that have often struggled to secure timely contributions from the state-run oil firm.
The new “incorporated joint venture” model would allow the ventures to operate as independent entities, so they could raise capital through equity or debt and then pay dividends to shareholders, NNPC said in its statement. Under the current structure, energy firms operating the ventures cover costs and issue cash calls to NNPC for its share… More details through: https://af.reuters.com/article/nigeriaNews/idAFL8N2453JT Rungas Industries, an indigenous Nigerian firm, in collaboration with the United Group of Egypt, has secured an executive partnership with Egypt’s National Organisation for Military Production to produce and assist with the distribution of Liquefied Petroleum Gas and Compressed Natural Gas composite cylinders.
The firm, which is a subsidiary of Rungas Group of Companies, said the Egyptian government had already allocated 28,000 square metres of land for the $30m project in Alexandria, the home for the Egyptian Gas Industrial Park. According to a statement, the facility will produce 200,000 LPG composite cylinders for domestic use (cooking) and 130,000 CNG cylinders for vehicles and automobiles… More details through: https://punchng.com/nigeria-firm-to-manufacture-gas-cylinders-in-egypt/ Nigeria’s deepwater operations have generated revenue exceeding $180 billion following industry players’ capital investment in excess of $65bn with the potentials for growth amidst untapped abundant opportunities in the sector.
Read more: https://www.dailytrust.com.ng/nigeria-earns-over-180bn-from-deepwater-operations.html Nigeria plans to almost double oil production and triple its refining capacity within six years, reviving previous pledges that turned out to be too ambitious.
The OPEC member is looking to pump 4 million barrels a day by 2025 and increase refining capacity to 1.5 million barrels daily, Maikanti Baru, managing director of state-owned Nigerian National Petroleum Corp., said at a conference Thursday in the capital, Abuja. “Nigeria needs to unlock new barrels as quickly as possible,” he said… More details through: https://www.bloomberg.com/news/articles/2019-04-25/nigeria-revives-plan-to-double-crude-oil-output-triple-refining Shell Petroleum Development Company plans to invest about $15 billion in oil and gas projects in Nigeria over the next five years, Lagos-based newspaper ThisDay reported, citing managing director of the unit, Nosa Okunbor.
The company operates under a joint venture between the Nigerian National Petroleum Corporation, Royal Dutch Shell Plc, Total Exploration and Production Nigeria Ltd. and Nigerian Agip Oil Company Ltd., according to its website. Shell has a 30 percent stake in the business… More details through: https://www.bloomberg.com/news/articles/2019-04-06/shell-venture-set-to-invest-15-billion-in-nigeria-thisday-says Dangote’s 650,000 barrels per day refining project in Nigeria, which is expected to start up in late 2022 is leading the charge for $30 billion investment push in Africa’s logistics, distribution, storage terminals, import facilities and retail marketing of the downstream sector…
More details through: https://businessday.ng/energy/oilandgas/article/dangote-refinery-leads-africas-30bn-downstream-investment-push/ |
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