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Afren/Oriental Energy revamps Petroleum Engineering course in UNIUYO
 
By Joseph BAMIDELE

LAGOS-Afren Nigeria and Oriental Energy Resources in a Joint Venture recently assisted the Department of Petroleum Engineering in University of Uyo to fully secure her re-accreditation from the Nigerian Universities Commission, NUC and the Council for the Regulation of Engineering in Nigeria (COREN).
Petroleum and Chemical Engineering Department of the university lost its full accreditation from the National Universities Commission in 2008 due to a lack of educational infrastructures required to sustain accreditation.
However, Afren representatives, led by Chairman Egbert Imomoh, entered into discussions with the University’s representatives in January, 2010 in order to identify a programme through which the company could contribute to the revitalisation of the Petroleum and Chemical Engineering Department.
Following a series of meetings between Afren and Oriental senior management and the University of Uyo’s leadership, a decision was reached to commission Professor Ekwere Peters of the University of Texas in the United States of America to produce a detailed plan on the actions required to return the Department to its rightful status.
This report formed the basis of the programme of work driven by Afren and Oriental at the University and has included the provision of laboratory equipment,   scientific journals and textbooks.
The Department, after going through the compulsory inspections carried out by the National Universities Commission (NUC) and the Council for the Regulation of Engineering in Nigeria (COREN) respectively, full accreditation status was granted by both bodies (NUC 2010 – 2015, COREN 2012 – 2017).
Speaking at the ceremony in Lagos Afren Chairman Egbert Imomoh said: “Afren was founded in order to bridge the gap that faces indigenous companies seeking to achieve production in the upstream sector.
“One of the core challenges faced by local companies is the lack of a large skilled pool of petroleum engineers and this initiative is designed to revitalise the Department of Petroleum and Chemical Engineering and re-establish it as a facility that can train the next generation of Nigerian engineers.
“In an area of Nigeria so rich in petroleum resources, it is vital that efforts are made to bolster students in that area’s access to quality education and opportunities, and we are proud to be playing a part in making that hope a reality.”
Alhaji Mohammed Indimi, Chairman of Oriental, stated further that ‘I am delighted at the re-accreditation of the department and we are strongly committed to the communities in which we operate in.
Together with our partner, Afren Nigeria, we will continue to work towards achieving our overall aim of a people-centered culture which enhances the conditions necessary for technical and business excellence”.
Speaking on behalf of the University Vice Chancellor and Head of the Chemical and Petroleum Engineering Department, the chairman of the University of Uyo Afren oil Collaboration committee, Prof. Aniedi O. Ette said:
“Nigeria has a proud history of educational achievement and we are grateful for the support Afren and Oriental have provided to support our successful efforts to return the Department of Petroleum Engineering to its rightful position and status.
We have a vision to train the next generation of oil and gas professionals and today marks a major step in our journey towards achieving this. We encourage other companies to emulate Afren’s example.”
Afren and Oriental have a long term commitment to further develop the capacity of Nigerian universities to build the capabilities required to create a new generation of local talent capable of operating and driving growth in the oil and gas sector.
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FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry

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In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.

The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.

The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.

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These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.

The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.

This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.

These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.

The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.

 

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Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative

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By Yemie Adeoye

NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.

The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.

“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”

The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.

“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.

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ExxonMobil To Invest $10bn In Nigeria’s Deep-Water Oil Operations

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As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.

Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”

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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.

Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.

We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.

“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.

On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.

 

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