Warning
  • JUser: :_load: Unable to load user with ID: 27832

South Africa Gas Potential To Be Discussed At Conference

A conference taking place in Durban from 9-11 October is set to explore South Africa’s aspirations to build an energy hub for gas cooperation with international partners along the value chain. The International Gas Cooperation Summit (IGCS) evolves from the ‘South Africa: Gas Options’ meetings held in Cape Town in 2015 & 2016.

This meeting will bring together principal government and public sector, gas developers, institutional investors and technology providers to explore how natural gas can play a greater role in South Africa’s energy mix and support the industrial and economic development goals of the country.

EnergyNet’s Anna Gorzkowska commented, “When we launched IGCS at the South Africa: Gas Options meeting last year in Cape Town, we knew that the landscape was changing and the discussion going forward would be broader to incorporate the DTI’s gas utilisation programme.

We’re therefore delighted to have got the timing of this meeting right - there is so much interest not only in the gas for power programme, but the massive infrastructure and energy projects happening as a result of those anchor discussions.

The conversation in October is also not squarely about South Africa, but its relationship with international partners and Southern Africa’s ability to develop gas based projects to electrify and empower the region.

Similarities must be drawn with the UAE 20 years ago and how they leveraged gas as the foundation of their now unimaginably rich economies. We’re looking forward to taking this discussion to the next level with our partners.”

The next opportunity

IGCS will showcase gas procurement and utilisation projects and strategies, bringing together decision makers who can lay the cornerstone of the region’s success and enable South Africa to become an energy hub to support industrial development across the region.

The agenda will focus on the global gas outlook for Southern Africa, case studies on modelling a gas economy, South Africa’s gas market in the context of the SADC region, how to accelerate gas infrastructure and the cost of diving into downstream.

A special conference for the Black Industrialists Programme with its major stakeholders will take place alongside the broader meeting, drawing on partners from the last two Gas Options meetings to continue to support the crucial objectives for both international and national investors. 

The program will be run by GE Garage engineers and instructors to enhance the students’ current capabilities whilst helping them develop new skill sets.

Guest Speakers For Upcoming Africa Oil Week Announced

ITE, the organizers of Africa Oil Week, this week announced its top-level speakers and sponsors for the 2017 edition of the globally recognised Africa Oil Week, the world’s longest running oil and gas conference on the African continent, being held in Cape Town, South Africa, from the 23rd-27th October.

As Africa’s premier oil industry event, Africa Oil Week draws over 1,250 senior stakeholders from the global upstream ecosystem for five days of content, thought leadership, networking and deal making.

This high-level participation is due, in particular, to the superlative quality of speakers, sponsors and partners, all of whom optimise the benefits of the content-rich programme.

Now in its 24th year, Africa Oil Week features 160 speakers from the corporate and public sphere to share winning strategies and solutions being deployed to face the future of the upstream industry with confidence.

Amongst these top-level speakers feature representatives from government and state bodies:

H.E. Jean-Marc Thystere-Tchicaya – Minister of Hydrocarbons for the Republic of Congo, Brazzaville;

H.E. Thierry Tanoh – Minister of Petroleum, Energy and Development of Renewable Energies in Côte d’Ivoire;

H.E. Gabriel Mbaga Obiang Lima – Minister of Mines, Industry and Energy in Republic of Equatorial Guinea;

Jerreh Barrow – Commissioner of Petroleum, Ministry of Petroleum & Energy for Government of The Gambia;

Engr Simbi Kesiye Wabote – Executive Secretary, Nigerian Content Development & Monitoring Board, Nigeria.

They will shed light on new opportunities as frontier and emerging markets and elaborate on the increased attractiveness achieved through strengthened fiscal and regulatory stability.

Côte d’Ivoire plans to double its oil and gas output by 2020 and is seeking to develop offshore reserves in the oil-rich Gulf of Guinea, while the Republic of Congo aims to increase daily production to 300,000 barrels from the current 250,000 barrels over the next two years.

This will put it close on the heels of Equatorial Guinea, the third-largest oil producer in sub-Saharan Africa with oil reserves estimated at more than 1.1 billion barrels of crude.

The Gambia, whose eight blocks, six offshore and two onshore, of which most are unallocated, have generated a lot of interest since its change of government, will present its legal framework that gives it the right to award contracts via tender and direct talks.

Nigeria’s Simbi Wabote will clarify his organisation’s capacity-building objectives and how IOCs can leverage the Nigerian Content experiences of others when planning projects.

Delegates will glean invaluable industry insights and operating experience from leaders of top international operators on the continent, such as:

France’s Guy Maurice – Senior VP, E&P Africa, Total E&P;

Luca Bertelli – Chief Exploration Officer, Eni Spa, Italy;

Jasper Peijs – Vice President Exploration, Africa, BP plc;

Frank Pluta – Managing Director, Global Co-Head of Oil and Gas Corporate Finance, Standard Chartered Bank;

Mike Adams – Head of Exploration, Gene Energy.

Each brings his or her expertise and perspective to the subjects of frontier exploration; challenges, opportunities and risks; deepwater exploration; the future of upstream; E&P trends; gas resources and gas-to-power development; and technology in the industry, amongst many more. Africa Oil Week provides a forum for exploring them all.

Summit To Discuss Mozambique’s First Deepwater Gas Field Development

The announcement last month from Eni and the Mozambican Government on signing the Coral South floating LNG facility became the first of its kind for the African nation.

This marks the start of an implementation phase for the gas industry of Mozambique, with more such deals expected to move from planning phase into fruition, the economy will see the benefits from this new business in the country.

The Mozambique Gas Summit & Exhibition taking place in October will extensively cover the latest developments in Mozambique’s gas industry. The event will be organized by acclaimed oil and gas events company, the CWC Group, in partnership with Mozambique’s national hydrocarbon’s company ENH. Participants can expect to get the full update on the Coral South FLNG project from the country’s senior decision makers.

Senior Speaker List Includes:

  • H.E. Leticia Deusina da Silva Klemens, Minister of Mineral Resources and Energy, Republic of Mozambique
  • Dr. Vasco Nhabinde, Director of Directorate of Economic and Finance Studies, Ministry of Economy & Finance
  • Dr. Omar Mithá, Chairman/CEO, ENH
  • Dr. Carlos Zacarias, President, INP

The Summit, to be held over 3 days in October, is widely supported by industry stakeholders including ExxonMobil, Anadarko & Mozambique LNG, BP, TechnipFMC, SASOL, Siemens and Alugas providing a unique opportunity to access and do business with these and many more key companies all under one roof.

Exciting features have been announced for this year’s summit, which will seek to increase attendee’s participation:

  • Outstanding Women Forum with our distinguished Guest of Honour Ms. Graça Machel (Drinks sponsored by ExxonMobil)
  • Roundtable Discussions
  • Mozambique Gas & LNG Awards Evening
  • 2nd National University Contest (Sponsored by BP)
  • Fully dedicated National Content Day
  • 3 Day International Exhibition

Tanzania to Meet Investors in September At Oil & Gas Congress

The Vice President of the United Republic of Tanzania Her Excellency Samia Suluhu Hassan has formally announced her support and participation in the upcoming Tanzania Oil & Gas Congress, organised by the CWC Group.

The Congress will gather senior representatives from the Tanzanian oil and gas industry including Governments, international oil companies, indigenous producers, international and national service providers, financiers and consultants.

Also joining the senior level speaker line up will be:

  • Hon. Charles Mwijage, Minister of Industry, Trade & Investment, United Republic of Tanzania
  • Hon. Salama Aboud Talib, Minister of Lands, Water, Energy and Environment, Zanzibar
  • Hon. Irene Muloni, Minister of Energy & Minerals Development, Republic of Uganda
  • Hon. January Y. Makamba, Minister of State – Vice President’s Office, Union and Environment, United Republic of Tanzania
  • Omar Mithá, Chairman & Chief Executive Officer, ENH Mozambique
  • Guy Maurice, Senior Vice President, Africa, Total E&P

With a variety of issues facing the energy sector in Tanzania, the Tanzania Oil & Gas Congress is well placed to bring together existing industry players and international investors to discuss the following key topics:

  • Government short-medium term plans and priorities for the energy sector
  • Increasing Government and industry collaboration to drive the industry forward
  • Business opportunities available with the Uganda-Tanzania Crude Oil Pipeline
  • What plans are in place to implement the Gas Masterplan?
  • Reviewing regional partnerships within Mozambique, Zanzibar, Uganda and Kenya

The Congress will also provide the opportunity to discuss open and honestly business opportunities in the Tanzanian energy market, in the form of Round Tables under Chatham House Rule.

Africa Oil Week Promises Standard Solutions For Industry Demands

Africa Oil Week, the world’s longest running oil and gas conference on the African continent, will from the 23rd to 27th October in Cape Town, South Africa, bringing together 1,250 industry players from around the world.

The ITE organized Africa’s premier event also brings together cross-continent multinationals and offer a content rich programme, a quality industry exhibition and five-star networking.

Africa Oil Week delivers exposure of Africa-wide state and private acreage opportunities, transaction and new venture assets and potential, exploration and production developments, and an overview of Africa’s hydrocarbon future.  

Now in its 24th year, Africa Oil Week, being held at the Cape Town Convention Centre, continues to provide the most trusted and reliable platform for governments, national oil companies, corporate players, independents and financiers, along with service and supply operators, to share deep insight and linchpin strategies and engage in meaningful debate and conversations set to drive and strengthen Africa’s rapidly evolving upstream industry.

With over 160 speakers from the corporate and public sphere, this year’s event promises a programme designed around industry solutions that set the standard for adjusting business models to new demands.

Experts will share strategies that enable the upstream industry to advance carefully, yet optimistically, as the investment environment improves, with companies pursuing asset deals, and oil price gains remain in place.

Innovation, flexibility, capabilities, technology and reforms are the keywords of the new strategies being deployed to face the future of the upstream industry with confidence and Africa Oil Week provides opportunities for exploring them all.

Being held as part of this year’s event and strengthening its core offer are the 17th Africa Independents Forum (23rd Oct), the 24th Africa Upstream (24th-27th Oct), the 5th Africa Local Content Forum (23rd Oct) and the 5th Young Professionals in Oil, Gas & Energy session. Special highlights are the 80th PetroAfricanus Dinner, hosted by ITE on 24th October at Cape Town’s iconic Mount Nelson Hotel, and the 9th Global Women Petroleum & Energy Club Luncheon (25th Oct).

Delegates who register by 16th August qualify for the substantial Early Bird Discount while companies registering three or more delegates benefit from an additional 10% discount. All registration fees include access to the 17th Africa Independents Forum and the 24th Africa Upstream Conference and Exhibition.

Israeli Power Developer Commits $1bn To ECOWAS

Under the MOU signed between the State of Israel and ECOWAS, Israel’s leading solar developer will invest $1 billion over the next four years to advance green energy power projects across the 15 member states of the West African economic community.

“In honor of President Ellen Johnson Sirleaf’s two terms in office, and Liberia’s friendship with the State of Israel, Energiya Global and our international partners will finance and build a commercial-scale solar field at the Roberts International Airport, which will supply 25% of the country’s generation capacity,” says Yosef I. Abramowitz, CEO. 

“We are prepared to finance and build the first National Demonstration Solar Projects in all ECOWAS-affiliated countries in order to promote political stability and social and economic development, as well as to advance knowledge transfer.”

Energiya Global and its associated companies developed the first commercial scale solar field in sub-Sahara Africa in Rwanda, which is supplying 6% of the country’s power, and the group broke ground on a similar power plant in Burundi, which will supply 15% of the country’s power by the end of the year.  The solar group has fields at various stages of development in ten African countries and expects to announce its full program at the Israel-Africa Summit in Togo at the end of October.

In an historic first, Israeli Prime Minister Binyamin Netanyahu is scheduled today to address the 15 West African heads of state of ECOWAS (the Economic Community of West African States), as well as the head of the African Union.   “Israel is coming back to Africa,” the Prime Minister will announce, and will outline the technological innovations in agriculture, water, green energy and more that can support economic development in West Africa. 

The $20 million investment comes as Israel and ECOWAS sign Sunday an historic Memorandum of Understanding to promote investments, technology and cooperation.

“With 600 million Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people,” says Member of Knesset Avraham Neguise, chairman of the Israel-Africa Caucus of the Israeli Parliament, who accompanied the Prime Minister.  

“Our humanitarian and diplomatic goals are supported by the private sector as well, which can work quickly and efficiently to improve the lives of millions of people.  I want to thank my friend Yosef Abramowitz for his investments in solar in Africa.  We look forward to working with ECOWAS to deploy $1 billion over the next four years, starting with this first investment of $20 million in Liberia by Energiya Global.”

A working session between ECOWAS, representatives of the State of Israel and Abramowitz will take place Monday morning in Monrovia, to plan for the deployment of the green energy investments in fulfillment of the MOU signed by Prime Minister Netanyahu and the President of ECOWAS.

U.S. Power Africa Coordinator Andrew Herscowitz underlined the importance of Energiya Global’s work by saying, “As a founding Power Africa partner, Energiya Global continues to demonstrate its industry leadership with this important investment in Liberia.  Increasing access and power generation is the foundation for economic prosperity and human development.  We look forward to Energiya Global’s transformative impact on the lives of the Liberian people.”

“We are proud to be involved in the creation of cutting-edge, clean energy for Liberia,” says Remy Reinstein, Energiya Global’s country director. “We are honored to have the seal of approval from President Johnson Sirleaf of Liberia and Prime Minister Netanyahu of Israel, whose initiatives have made the sustainable development of Liberia possible.”

Liberian President H.E. Ellen Johnson Sirleaf approves the $20 million investment in Liberia’s energy sector, with Israeli Ambassador Ami Mehl and Liberia Country Director Remy Reinstein

What Happened To Transparency?

By Simon Kolawolelive

LAGOS, Nigeria: At the annual Nigerian jamboree to the Offshore Technology Conference (OTC) in Houston, Texas, Dr. IbeKachikwu, the minister of state for petroleum resources, told a “world press conference” on May 5, 2017 that Nigeria’s refineries would soon have new investors.

He said 26 investors had indicated interest in the epileptic refineries. “By September, we will unveil the investors for the refineries,” the minister said smoothly, typically. “When we came onboard, the refineries were not working but as we speak, we have sizeable investment portfolio for them to an extent that we don’t know who to partner with for the investment.” 

Let’s say I didn’t go to school at all. Or let’s say it was evening school that I attended. These would still be my takeaways from the minister’s proclamations: one, our refineries are now in a position to attract investment; two, 26 investors have indicated interest in taking over the refineries (on a repair, operate and maintain, ROM, agreement); three, we have not taken a decision yet because there are so many suitors to choose from; and four, we will announce the favoured investors by September. Without attending Harvard Business School, I would still conclude that it appeared the process was going to be competitive and transparent. 

On May 11, 2017 (six days later, right?) Mr. Wale Tinubu, the CEO of Oando Plc, told the Nigerian Stock Exchange (NSE) that the group had received approval of the government to “repair, operate and maintain” the Port Harcourt Refinery together with “our partner” Agip, a subsidiary of ENI, the Italian company indicted in the Malabu/OPL 245 affair. Tinubu said: “We plan to increase the refinery capacity from 30 per cent to 100 per cent.” Great news, as far I am concerned. We need the refineries back as soon as possible; we have had enough of the endless TAMs gulping billions of naira and spewing out virtually no products for decades. 

Now this is where I need your help. The last time I checked, with the help of Google, May and September are different months. There are June, July and August in-between. With the help of Google, I also discovered that the gap between when Kachikwu spoke in Houston and when Tinubu spoke in Lagos was a whopping six days — or, to make it simpler, less than one week. There are usually four weeks in a month, and from May 5, when Kachikwu spoke, to September, there are 17 weeks, according to the all-knowing Google. With Tinubu’s disclosure, should we assume that May is the new September? Or that September came early for Oando, Agip and Kachikwu? 

But I think Google is overrated. There were so many questions it could not answer. For instance, I asked: “Is Oando among the 26 investors Kachikwu boasted about in Houston?” I could not make head or tail of the results. Google came up with “FOX 26 Houston KRIV”. Nonsense. But I got more gibberish for other questions: did Oando and ENI send in a bid? Was it an unsolicited bid? Was it selective tendering? If it was competitive bidding, how many bids were received for Port Harcourt? How much did Oando/ENI bid? How much did others bid? How much did the bidders promise to invest? How many years will the ROM run? Are there concessions for the new operators? 

I can understand why Google got stuck — that almighty search machine likes transparency. If you do not make your information public, it cannot make it public for you. The best, or should I say the worst, Google would do is to suggest answers that it thinks are related to your questions, even when there is no connection whatsoever. If you google most of the major concessions and major contracts awarded by this government, you will get irrelevant answers on the process. For the same reason: transparency is very scarce in these major deals. We just wake up one day and hear that one company has been awarded a job. Not a word on the process. 

Don’t get me wrong: I’m not saying Oando should not take over the Port Harcourt Refinery. I have devoted a significant part of my column-writing career to promoting the cause of Nigerian companies. I believe that one day, made-in-Nigeria will be enjoyed all over the world. I want Nigerian companies to fly our flag honourably. Even though I have been called names and subjected to sickening innuendos for promoting Dangote, Globacom, Oando and Innosons, among others, I am not about to repent. Americans are proud of their Apple, Microsoft and Chevron, and my dream is that our people and our companies will become global brands too. 

That said, though, I am very worried about an emerging pattern in this administration. President Muhammadu Buhari campaigned on the strength of correcting the mistakes and misdeeds of the previous government, but I am seeing too much repetition for it to be coincidental. There is too much secrecy in the way many important things are done, and corruption, need we say, thrives on secrecy. Take away competition, take away transparency, take away accountability, and you have a perfect recipe for corruption. We cannot be sealing deals under the table without revealing the details to Nigerians and then claim we are building an open society.

We just woke up one day to learn that GE had secured the concession to take over the railways. How did it happen? What are the details of the deal? Is this the best possible deal Nigeria can get? We were just watching TV one evening and learnt that the federal government had finally signed a renegotiated concession agreement with the Global Steel Holding Limited (GSHL) for Ajaokuta Steel. Up till today, we don’t know the details. Ask questions and what you get as answer is: who paid you to ask? As a journalist, I’m used to the blackmail. I would have quit this job the day I joined if I had to pay attention to personal attacks. 

By the way, I know a bit about the procurement options. I know of “sole sourcing”, where you go to one provider only because no other provider does it — like buying a Rolls Royce from the maker. “Selective tendering” allows you to approach a few providers who meet certain criteria. There is “repeat procurement”, where you return to earlier provider because of time constraints and because they did a previous job well. All these need strong justifications because you are restricting competition, which is a major element of procurement. And then there is “competitive bidding”, where you throw it open to all. In all, Nigerians deserve to know the process adopted. 

Get me right. I am not saying anything illegal is being done in the case of the Port Harcourt Refinery. It just lacks transparency. That’s my point. And what about other moral issues? ENI again? As I write this, many Nigerians are being prosecuted or wanted by the EFCC for their involvement in the OPL 245 deal. They are being accused of taking part in an elaborate bribery scheme. But ENI, which is at the centre of it all and is being prosecuted by an Italian prosecutor for its role in the $1.3 billion affair, is cornering more deals in Nigeria without getting as much as a slap on the wrist. The impression being created is that our anti-graft war is very narrow. 

I sympathise with the government over the limitations imposed by procurement rules, particularly the constraint of speed, but the process was designed for a purpose. More so, this government has been in power for nearly two years, which means a lot could still have been accomplished over the years in spite of the constraints. And, remember, there are many options that can shorten the process which the government has been using for a while now. The biggest headache, though, is that there is too much opaqueness for us to conclude that transparency is a guiding principle. The chaos over the concessioning of Port Harcourt Refinery is a very good example. Dissonance.

 

Equatorial Guinea, Arabian Energy Reach Bioko Oil Terminal Deal

Following the signing of an agreement between the Government of Equatorial Guinea and Arabian Energy DMCC to work together on the Bioko Oil Terminal in Saudi Arabia, the realization of the petroleum tank farm gained some important momentum.

On May 11, the two sides agreed to collaborate on the development, implementation, construction and financing of the $500 million project. Bioko Oil Terminal aims to become West Africa’s largest oil and petroleum products storage facility and will transform Equatorial Guinea into a pivotal trading and services hub in the region.

“The Bioko Oil Terminal is a first of its kind storage facility for West Africa and would bring to the region energy security and transport economies of scale and efficiencies like we have never been before,” said H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea. “We welcome the addition of Arabian Energy and look forward to working together to move this project into realization.”

Bioko Oil Terminal brings several advantages for the region. It creates an African center for the distribution of petroleum products and crude oil and would stimulate the West and Central African industry through job creation and the reduction of imports. The tank farm would attract investment, build local financial capacity and increase shipments to key exports markets.

With 22 storage tanks and a total capacity of 1.2 million cubic meters, Bioko Oil Terminal would be built in two phases, the first consisting of refined production and the second capable of storing, handling and blending middle distillates and lights ends such as diesel, jet fuel, gasoline and naphtha, as well as crude oil. The shared terminal infrastructure will be operated on a “first come, first served” basis.

Ghana’s 400 Mw Bridge Power Project Gets GE Support

GE last week announced that it will supply the power generation equipment for the Bridge Power plant project in Tema, Ghana. The equipment, which will be used in the first phase of the project, will collectively generate 200 MW of power. An additional 200 MW of power will be deployed in stage two of the project.

The equipment scope includes GE’s TM2500 gas turbine generator sets  and GE’s steam turbines in a combined cycle (CC) configuration. This will be the first time the TM2500 gas turbines will be used in a combined cycle configuration globally and marks a milestone for the technology, which was also selected this week for Angola’s ambitious electrification program led by PRODEL.

“The Bridge Power plant successfully brings together the need for a cost-effective fuel solution, in this case liquefied petroleum gas, with an integrated power solution driven by GE’s latest flexible technology” said Leslie Nelson, CEO, GE’s Gas Power Systems for Sub Saharan Africa.

The 400 megawatt (MW) Bridge Power and liquefied petroleum gas (LPG) import, storage, and transportation infrastructure project will address Ghana’s long-term energy requirements by providing enough electricity for the equivalent of up to 17 percent of the country’s capacity. Upon completion, it will be Africa’s first LPG fired power plant and the world’s largest plant of its kind. The fuel-flexible plant will also be capable of being fueled by LPG, natural gas or diesel.

Bridge Power is being developed by the Early Power Limited (“EPL”) consortium under a Power Purchase Agreement (PPA) with the Electricity Corporation of Ghana (ECG). The EPL consortium comprises of Endeavor Energy, a leading independent power development and generation company focused on Africa; Sage, a leading independent trading firm in Ghana; and GE (General Electric).

The Bridge power plant project will bring much needed electricity to Ghana and is expected to have an immediate positive impact on the reliable operation of schools, factories, offices, other local businesses, hospitals, and households. The project is another example of how GE works with the government, corporate customers and other stakeholders in Ghana.

Together, GE and its customers in Ghana support economic growth through infrastructure development in the power, oil & gas and healthcare sectors. In March this year, GE opened a 5,600 square meter oil & gas facility in Takoradi, that will serve as a primary service center for deep-water offshore projects.

 

 

 

 

 

 

 

Nigeria’s Aiteo In Record 90kpod Output

Integrated energy group Aiteo has announced a peak production of 90kpod just one year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil bloc OML 29.

Aiteo acquired OML 29 in September, 2015 when oil major Shell Petroleum Development Company (SPDC) fully exited the facility. At the time of the divestment, average production was 23Kbpod. But Aiteo, one of the frontline sponsors of the justconcluded 16th Oil and Gas (NOG) Conference held in the country’s capital Abuja, says it has tripled this figure leveraging the diversity and skills of its work force and bona fides as a dynamic international energy conglomerate.

It’s CEO and Vice Chairman Benedict Peters said the company grew production from 23kbbl/d upon takeover of operations to a peak of 90Kbbl/d in one year. He also highlighted several existing and developing projects that could potentially grow Aiteo’s asset production to over 150 kbopd and 200mmscf/d. 

He said: “Our outlook is bright with 3 producing oil fields and viable crude exports via Bonny terminal. We also have contingent resources to appraise and prospective ones to explore in the medium-to-long term, including full 3D coverage and 2P NNS reserves at 1.6bn bbl. Put simply, we have a clear vision for the future with the experience and assets crucial to providing oil and gas consistently on a regional and global scale.”  

Aiteo’s ambitious five-year objectives include tackling the power challenges in Nigeria head-on through its legacy investments in the gas-to-power value chain. “This is a testament to our commitment to the transformation of the entire oil & gas value chain into a world-class landscape,” Peters added.

The company’s main subsidiary Aiteo Eastern E&P is also a major infrastructure provider for Nigeria’s oil industry as the operator of the 97km Nembe Creek Trunk Line, an industry-wide evacuation pipeline for produced fluids covering much of the country’s Eastern Delta region.

Aiteo’s Group Managing Director Mr. Chike Onyejekwe said: “Our growth drivers remain strong leadership, high commitment and motivation, technical and commercial excellence and superior asset base. In the next five years, our operations will continue to be guided by these qualities as we leverage our capabilities comparable to oil majors elsewhere in the world. Indeed, the future is Aiteo.”

In the interim, Aiteo says it is developing a pipeline of power generation projects across Nigeria. The company is confident that its significant gas resources at OML 29 will transform the country’s oil rich Niger Delta region into a power generation hub of repute before long.

AITEO Group is an international energy conglomerate in the forefront of innovative solutions with strategic investments across the energy value chain – petroleum products storage and distribution; natural gas; power; and exploration and production.   

  • 0
  • Published in Africa
  • Written by
Subscribe to this RSS feed

26°C

Kampala

Mostly Cloudy

Humidity: 74%

Wind: 22.53 km/h

  • 24 Mar 2016 28°C 22°C
  • 25 Mar 2016 28°C 21°C