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OIL & GAS

Delta Govt Resolves Heritage, OML 30 Landlord Feud

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The Delta State Government has resolved a brewing dispute between Heritage Energy Limited, operators of the Oil Mineral Licence OML 30, and landlords over rent and expired leases.

Chief Vincent Oyibode, the State Commissioner for Oil and Gas, who resolved the dispute during a meeting with the parties in his Asaba office, urged Heritage Oil Company to take prompt action in paying the rental fees and expired leases.

He stated that the budgeting process was time-consuming for oil companies and urged the company to work hard to ensure that the new rent rates were paid within the next year.

Chief Oyibode stated that the State Government would shortly hold a
Stakeholder engagement with oil companies and host communities to address long-standing issues impeding the state’s sustainable oil production.

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The Oil and Gas Commissioner, while commending the oil landlords for their peaceful demeanour and for not taking the law into their own hands, urged the oil company to reduce the agitation by processing payments on time.

He stated that despite the recent events at Okuama, Delta State remains the most investor-friendly destination in the country, and urged all stakeholders to ensure enhanced peace and security as outlined in Governor Sheriff Oborevwori’s MORE Agenda.

Regarding the expired lease, Chief Oyibode urged the oil company to conduct legal verification within two months to resolve the matter and pay the oil landlords as soon as possible.

Speaking on behalf of Heritage Energy Limited, Dr Jerry Oharisi and Mr Edesiri Akpomudjere of the company’s Government and Community Relations Department stated that the land rental payment was being verified and would be paid next month.

Earlier, Barr. Alfred Serumeh, National Chairman of the OML 30 Landlords and Families, expressed regret that Heritage Oil had refused to pay for expired leases that SPDC had last paid over 20 years ago.

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He stated that oil landlords were willing to work with the government and the oil company to ensure sustainable oil production in the state, but urged the government to compel Heritage Energy to fulfil its obligations to the oil landlords.

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OIL & GAS

NNPC, First E&P Achieve 20,000bpd Production At OML 85

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NNPC boss, Mele Kyari

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its joint venture partner in OML 85, First Exploration and Petroleum Development Company Limited (First E&P), have begun producing oil from the asset known as Madu Field.

 

The field, located in shallow waters offshore Bayelsa State and operated by First E&P, is expected to produce an average of 20,000 barrels per day.

 

The achievement demonstrates the President Bola Tinubu administration’s commitment to optimising production from the country’s oil and gas assets by creating an enabling environment for existing and prospective investors.

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Speaking about the development, NNPC Ltd’s Group Chief Executive Officer, Mr Mele Kyari, described the start of oil production at the Madu Field as a significant milestone that will contribute to the larger goal of meeting the production required to drive revenue growth and boost the country’s economy.

 

Kyari praised stakeholders for their support and explained that the addition of 20,000 barrels per day by an indigenous oil player demonstrates stakeholders’ commitment to Nigeria’s economic development.

 

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The NNPC Ltd/First E&P JV made the Final Investment Decision (FID) on the development of the Madu Field and its sister field, Anyala, in 2018.

 

The Madu Field’s production will be processed at the JV’s Abigail-Joseph Floating Production Storage and Offloading (FPSO) Unit, which can store up to 800,000 barrels of crude oil.

 

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OIL & GAS

Nigerian Government Plans to Restore Crude Production to 1.7 Million Barrels Per Day

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The Nigerian Government has stated that efforts are underway to restore Nigeria’s oil production, including condensate, to 1.7 million barrels per day.

Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), assured in response to recent concerns about a shortfall in Nigerian oil production in the first quarter of 2024.

According to a statement from Nneamaka Okafor, Special Assistant, Media and Communications, to the Minister, Sen. Lokpobiri, measures are being taken to address the situation and not only restore but also increase production.

The minister clarifies that the reported production shortfall was primarily caused by issues encountered on the Trans Niger Pipeline, as well as maintenance activities carried out by some Nigerian oil companies.

The Minister is also pleased to announce that the issues have been adequately addressed, and that production is expected to resume at previous levels in the coming days.

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He expects Nigeria’s oil production, including condensate, to be restored soon, having been around 1.7 million barrels per day (bpd) before these developments.

Furthermore, the Ministry of Petroleum Resources is actively involved in policy development aimed at maximising the utilisation of all available wells in Nigeria.

This strategic approach will allow the country to increase production, generating vital revenue to maintain the country’s foreign exchange reserves.

Increased revenue will also allow the government to meet its commitments to provide essential infrastructure, as outlined in the 2024 budget.

The Minister also expresses renewed optimism as Nigeria navigates these challenges, urging everyone to remain committed to ensuring the long-term viability and growth of Nigeria’s oil sector, which is critical to the country’s economy.

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OIL & GAS

Petroleum Engineers Call For Collaborative Efforts To Address Nigeria’s Energy Sector Challenges

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Oil Minister, Lokpobiri

The Society of Petroleum Engineers (SPE) Nigerian Council has called for collaborative efforts to address the challenges and opportunities facing Nigeria’s energy sector.

Salahuddin Tahir, Chairman of the Society of Petroleum Engineers (SPE), Nigerian Council, gave an inspiring speech at the Oloibiri Lecture Series and Energy Forum (OLEF) opening ceremony in 2024.

He emphasised the importance of working together to address Nigeria’s energy sector challenges, as well as the role of the Oloibiri Lecture and Energy Forum (OLEF) Series as a beacon of knowledge, innovation, and progress in the industry.

“This year’s forum focuses on the theme of Stability in the Nigerian Energy Sector: Integrated Strategies for Infrastructure, Transportation, and Security, emphasising the importance of collaborative efforts to address challenges and capitalise on opportunities in Nigeria’s dynamic energy landscape,” said Salahuddin Tahir, Chairman of the SPE Nigerian Council.

“The stability of the energy sector is critical to sustaining economic growth, ensuring national security, and promoting environmental sustainability,” Tahir stated.

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Mr Tahir also used the occasion to express the SPE Nigerian Council’s support for the country’s bid to host the African Energy Bank’s headquarters, citing Nigeria’s potential and leadership in the energy sector.

In his keynote speech, Mr Mele Kolo Kyari, Group Chief Executive Officer of NNPC Limited, emphasised the critical importance of closing the energy access gap to create economic prosperity in the country. To address Nigeria’s energy access gap, Kyari stated that NNPC Ltd was developing the infrastructure required to deliver oil and gas and drive prosperity for Nigerians.

“We are committed to developing gas infrastructure across the country,” Kyari said, emphasising that the company’s commitment was more than just a statutory requirement under the Petroleum Industry Act, but also a pledge to ensure energy security beyond fuel supply.

“We are committed to investing in critical infrastructure to boost economic growth by supplying gas to the domestic market, with a target of at least 8 billion cubic metres,” Kyari said.

In his address, Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), represented by Engr. Busari Kamoru stated that the federal government has identified transport, infrastructure, and security as key priority areas in addressing the sector’s energy deficit, as these will bring about stability, growth, and the sustenance of a better energy sector.

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“Nigeria has the potential to transition to a more sustainable energy future by improving key infrastructure, transportation, and security, as well as embracing research and innovation in renewable energy and fostering collaboration among various stakeholders,” Lokpobiri stated.

In his State of the Industry address, Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), represented by Mrs. Oluremi Komolafe, stated that the shift to gas is not only an option but also a necessity for Nigeria’s economic resilience.

“Our enormous gas resources provide a unique opportunity to diversify our revenue streams and reduce reliance on oil, resulting in a more robust and sustainable economic foundation,” Ekpo stated.

The Society of Petroleum Engineers (SPE) Nigeria Council is a non-profit professional organisation that promotes the petroleum engineering profession and disseminates technical knowledge in the oil and gas industry. The Oloibiri Lecture Series and Energy Forum (SPE OLEF) commemorates the first commercial oil discovery in Nigeria by Shell D’Arcy in 1956 at Oloibiri, Bayelsa State.

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