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Asset ownership key to Nigerian Content Development -Wabote

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Asset ownership key to Nigerian Content Development -Wabote

Precious ADELOLA

ABUJA-INDIGENOUS service companies in the Nigerian Oil and Gas Industry have been advised to invest in asset ownership because it is a major yardstick used by the Nigerian Oil and Gas Industry Content Development (NOGICD) Act to define Nigerian companies and confer advantages on them.

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote gave the advice on Friday in Port Harcourt, Rivers State while commissioning PIMO Services Ltd’s new facilities and equipment.

He explained that the acquisition of important assets defined genuine Nigerian businesses who are not middlemen or commission agents but are positioned to offer top-notch services in-country.

He added that investment in assets also proves that Nigerian businesses are taking up the challenge to grow their outfits and contribute to in-country capacities and capabilities.

Assets commissioned by the Executive Secretary included Operational Bases I & II of PIMO Services and their newly acquired equipment, which included Hydro Hammer with the capacity of 200 kilo Joules, Internal Lifting Tools with the capacity of 250 tons, up to 42-inch diameter Conductors and Casing Running Tools, and many other state of the art tools to service the oil and gas industry.

He expressed delight that the acquisition of the modern tools and equipment afforded the company’s engineers and technicians the opportunity to develop requisite skills and competence to handle various jobs thereby enhancing engineering capabilities within the country.

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While commending the management of the company for investing and contributing significantly to the growth of the Nigerian Oil and Gas sector, Wabote added that the investments also supported the Board’s 10-year strategic roadmap aimed at increasing the level of Nigerian Content in the Oil and Gas sector to 70 percent by 2027.

He noted that PIMO Services was the second facility he was commissioned in Port Harcourt since the outbreak of COVID-19 pandemic in March 2020, describing it as signs that better days were gradually returning to the oil and gas industry.

He called on other oil and gas service providers to emulate PIMO Services in their focus and dedication, adding that the growth of oil and gas facilities needs to be worked on steadily till full rewards are realized.

In his remarks, the Managing Director of PIMO Services, Mr. Pius Uwhubetiyi stated that some of the equipment and tools it acquired were the only ones in Nigeria. He noted that the company’s investment in Hydro Hammer would save project promoters about 90 days that are normally spent importing and exporting the equipment for projects, while another major piece of equipment saved Total Energies about US$600,000 when it was deployed on Ikike Field Development Project.

He added that the company was working to become the first firm to produce casing accessories in Nigeria, adding that it had the capacity, competence, and character to deliver on areas of expertise.

PIMO Services Limited is a wholly owned Nigerian Company and it had developed skills in the provision of quality engineering services such as Mechanical, Civil & Structural, Electrical Installation/Maintenance, Fire and Gas Systems, and other services to the oil and gas industry.

 

Energy

Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide

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MRS Oil Nigeria Plc, a prominent player in the Nigerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.

The company has also called on Nigerians to monitor and report any outlets that fail to adhere to the new price structure.

Biztellers reports that this is consequent upon an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.

ALSO READ: Dangote Slashes PMS Price To N899.50k

It was gathered that MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.

In a statement on Monday night, the company declared, “Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM

Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”

In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol, with many expressing their gratitude to the Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.

A commuter at the MRS station at Alapere on the Lagos Ibadan Express way, Ibukun Phillips, could not hide her joy as her husband filled up their car.

“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”

A commercial bus driver, Adio Ajibade described the price reduction as a great relief, especially during the festive season.

“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.

A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.

According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”

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Energy

FDI: Shell To Invest Billions Of Dollars On Nigeria’s Bonga North Oil Field

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As a direct implication of the Federal Government’s Foreign Direct Investment drive, the Royal Dutch Shell has completed the final investment decision on the deep offshore Bonga North project in Nigeria.

Biztellers reports that the Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest.

Shell’s Integrated Gas and Upstream Director, Zoë Yujnovich, said, “This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio”.

ALSO READ: OGUNCCIMA Commends Dangote Refinery’s Impact

It was gathered that the Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.

The company is optimistic that the project will sustain oil and gas production at the Bonga facility.

The Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.

In addition, the Bonga North will help ensure Shell’s leading Integrated Gas and Upstream business continues to drive cash generation into the next decade.

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Energy

Chevron Nigeria Bags ‘Energy Company Of The Year For Environmental Sustainability And CSR

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Chevron Nigeria Limited (CNL), has received an award as “Energy company of the year (2024)” for its Environmental Sustainability and Corporate Responsibility accomplishments.

The award presented by the Nigerian News Direct newspaper, on Friday December 6, 2024, and was received by Manager Communications, Chevron Nigeria and Mid-Africa Business Unit, Victor Anyaegbudike, at a colourful event at the Grand Ballroom of the Oriental Hotel, Lagos.

ALSO READ: Stakeholders Hail NCDMB As Local Content Level Hits 56%

The organizers of the award noted that Chevron has implemented the “Protecting People and the Environment” policy, which aims at preventing injuries, illnesses, and environmental incidents. They also referenced that the company has achieved 97% gas flaring reduction in its operations in Nigeria, while implementing waste management and environmental conservation programs.

According to the media organization, Chevron Nigeria has also invested millions of dollars in community development programs, supporting education, health and economic development initiatives that have benefited thousands of people, while ensuring diversity, inclusion, and employee engagement in its business operations.

Receiving the award from the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho, Anyaegbudike thanked the organizers for the honour, and reiterated Chevron’s commitment to continue to develop, affordable, reliable and ever-cleaner energy that enables human progress around the world.

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