Owing to the persistent power outage, which has crippled economic and social life in most parts of Akwa Ibom State and environs, Accugas Limited has washed its hands off the ugly situation.

This was contained in a statement under the signature of its Communications Manager, Okwudili Onyia, in which the company traced the anomaly to a “fault in the 132-KV Aba-Itu transmission line”.

To ameliorate the situation, the company maintained that “It is imperative that the restoration of the Aba-Itu line is completed as soon as possible.”

In addition, the company pledged thus, “Accugas will continue to partner with, and support, the government of Akwa Ibom State towards achieving the government’s agenda for economic development and prosperity of the state.”

ALSO READ: NNPC Ltd To Supply 100mmscf/d Gas To Dangote Refinery

The statement reads, “Accugas Limited, a subsidiary of Savannah Energy, wishes to strongly deny the misinformation concerning its alleged involvement in the current power outage in Akwa Ibom State.

“The power cut in Akwa Ibom State is entirely due to the reported fault in the 132-KV Aba-Itu transmission line, which, unfortunately, is preventing power being transmitted from the National Grid into the State. It is imperative that the restoration of the Aba-Itu line is completed as soon as possible.

“Ibom Power Company (“IPC”) is one of 23 thermal power generation companies which channel power to the National Grid, which in turn disseminates all accumulated power to each State of the Federation through the electricity distribution companies (“Discos”). Indeed, Accugas supplies gas to enable c. 20% of Nigeria’s thermal generation capacity and, as such, is a critical enabler of the Nigerian economy.

“Within Akwa Ibom State, Accugas has been the sole supplier of gas to IPC since 2014 and, together with other Savannah subsidiaries, has invested over US$1.5 billion in gas development within the state. Furthermore, Savannah has recently invested c. US$45 million in a gas compression project at Accugas’ Uquo central processing facility at Esit Eket. Accugas’ commitments also extend to several social investment projects in the state. All the foregoing investments and projects, including other imminent investments Accugas intends to make in the State, demonstrate the Company’s long-term commitment to Akwa Ibom State and Nigeria.

“Accugas will continue to partner with, and support, the government of Akwa Ibom State towards achieving the government’s agenda for economic development and prosperity of the state.”

As the 42nd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) got underway in Lagos on Monday, the Nigerian Content Development and Monitoring Board (NCDMB) has canvassed industry-wide support for initiatives that would reverse negative trends in Nigeria’s energy sector.

The Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe, made the assertion in a paper entitled “Resolving the Nigerian Energy Trilemma: Energy Security, Sustained Growth, and Affordability”.

He identified “alarming scale of pipeline vandalism and theft of crude oil” as the biggest threats to Nigeria’s energy security, noting that major oil and gas projects are required as well as a robust security strategy based on mutually beneficial collaboration with host communities.

To achieve the above objectives, the Board has undertaken to work with stakeholders in the industry to dedicate one week in every calendar year to signing Final Investment Decisions (FIDs) on new projects, as prospective investors could be motivated to act expeditiously to meet agreed-upon deadlines and regulators are similarly encouraged.

Engr. Ogbe noted that FDIs would “catalyze new projects in the Nigerian oil and gas industry,” and that fruitful collaboration amongst stakeholders and NCDMB would actualize the intentions of the Presidential Directives rolled out in March 2024 by The Presidency, and thus “fast-track the contracting cycle and incentivize investments in our sector.”

The NCDMB boss, who was represented by the General Manager, Corporate Communications and Zonal Coordination, Esueme Dan Kikile, Esq., suggested that the FDI Week be incorporated into any of the major oil, gas and energy conferences held in the country.

According to him, the Board holds a similar biennial event called Nigerian Oil and Gas Opportunity Fair (NOGOF), which is attended by all the international and indigenous operating companies to share awareness of opportunities and projects to be executed.

On the Board’s strategy to create a safe and secure operating environment for oil and gas companies and thus eliminate the huge costs associated with vandalism and attacks on personnel and installations, the Executive Secretary disclosed that NCDMB has introduced a new policy known as “Back to the Creeks Initiative.”

According to him, “We are convinced at the Board that the incessant tampering with crude oil pipelines and hostilities in oil-producing communities have a huge impact on energy security,” and that the new initiative is geared towards curtailing incidences of disruptions of oil industry operations through targeted interventions. These include execution of corporate social responsibility projects in communities, provision of affordable finance to local contractors, upgrade of basic educational facilities in villages and communities, building the capacity of teachers and improving the infrastructure at that level.

The initiative, whose details would soon be publicized, is expected to create a stakeholder feeling in host communities and make them view industry assets around them as facilities that are bound up with their socio-economic well-being.

Such an orientation would translate into safety of assets, increased crude oil production, drastically reduced security costs and more favourable pricing of petroleum products, he added.

Shell will continue to power progress in the drive for energy security in Nigeria through its businesses in the Upstream, Midstream and Downstream and Renewables sectors.

This view was shared by the Country Chair, Shell Companies in Nigeria and Managing Director, The Shell Petroleum Development Company of Nigeria Ltd (SPDC,) Osagie Okunbor in Lagos, on Tuesday.

It was contained in remarks delivered on his behalf by Exploration Manager Gogo Eneyok at the opening of the 42^nd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).

Okunbor maintained that the range of the Shell businesses were integrated across the energy value chain and working hard to address the challenges as captured in the theme of the event: “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth & Affordability.”

ALSO READ: How Oil Cabals Crippled Govt Refineries, Now Scheming Against Dangote Refinery – Pastor Adeboye

In addition to the SPDC, the other Shell businesses in Nigeria include, Shell Nigeria Exploration and Production Company Limited (SNEPCo,) Shell Nigeria Gas (SNG,) Daystar Power and All On as well as Nigeria Liquefied Natural Gas (NLNG,) in which Shell has 25.6% interests.

Okunbor stated, “Shell, working with government, regulators and stakeholders, is actively participating in finding a pathway through the energy trilemma. We are focused on generating maximum value and cash to power the country.”

Referring to efforts towards low and zero-carbon products to market, he said, “Shell is deploying latest technologies in reducing emission in our operations and we are well on track to meet our forecasted Green House Gas reduction targets.

”SNG is also increasing domestic gas delivery through its distribution network of 150 kilometers in Nigeria while Daystar and All On are giving individuals and communities access to cleaner and affordable energy.

Okunbor however, pointed out that for these and other efforts and investments to achieve the desired results, government had to improve the regulatory environment with continuous improvement in the provisions in the Petroleum Industry Act. “The menace of crude theft and illegal refining must also be tackled to safeguard the nation’s resources and protect the environment,” he added.

The opening ceremony of the NAPE conference featured a tour of exhibition stand by the executive members of NAPE. He and other dignitaries were conducted round the Shell stand by Magdalene Umoh, a Senior Production Systems Engineer.

She gave an insight to the milestones of Shell businesses in Nigeria including social investments and development of Nigerian contractors and vendors. The Shell stand is complemented by a well-staffed medical team which is attending to participants and visitors for the duration of the four-day conference.