Oil
Oando rig achieves 3 years of drilling without LTI
LAGOS – Oando Energy Services Limited (“OESL”) one of Nigeria’s leading indigenous provider of swamp drilling rigs services and a subsidiary of Oando PLC, has announced that the OES Teamwork, one its four rigs, has recorded a safety milestone of three years of uninterrupted operations without a Loss Time Injury (LTI).
LTI is an industry Key Performance Indicator (KPI), which measures adherence to safety requirements by evaluating the number of injury-bearing incidents capable of preventing a worker from performing or continuing with a task.
OES Teamwork is the second rig in Oando’s drilling fleet to achieve this safety feat, after OES Integrity recorded the same achievement on Friday, August 10, 2012. OESL, which currently has three swamp rigs in operations, is strongly committed to Health, Safety, and Environment requirements, and is poised to remain a leading service provider in Nigeria’s oil servicing sector.
Commenting, Mr. Bandele Badejo, Chief Executive Officer, OESL said: “We are pleased with this very significant and commendable milestone for all our stakeholders. Operating the rig for One Thousand and Ninety-six days without a Lost Time Injury is a demonstration of the emphasis we place on Environment Health, Safety, Security and Quality processes in the company, as well as the commitment of our people to these processes.
This feat further demonstrates to the industry that indigenous drilling services providers with the right people and attitude are capable of sustaining safe, efficient and incident-free operations.”
Also speaking, Mr. Chijioke Akwukwuma, Chief Environment, Health, Safety Security and Quality (EHSSQ) Officer, Oando PLC,“We are very proud of the OES teamwork for achieving this remarkable safety milestone, which is in line with the Oando Group’s zero tolerance for unsafe conditions and practices. We are committed to achieving our world-class aspirations of incident-free operations every day across all of our operations”.
OESL Teamwork rig, which is contracted to a leading international oil company, has successfully drilled, completed and worked over wells in the course of its campaign. The rig is a 3000 HP swamp drilling barge equipped with 10,000 psi Blow Out Preventers (BOP) systems.
It has an IDECO built mast and substructure with rated static hookload capacity of 1.5M lbs and capable of drilling up to 25,000 ft. The rig is equipped with three model 645E8 EMD diesel engines, two model T-1600 IDECO mud pump, three Derrick Linear Motion Shakers, two Hi-G- dryers, and Varco TDS-3 Top Drive.
The Nigerian National Petroleum Company Limited (NNPC) has unveiled a bold strategy to reduce methane emissions in the oil and gas sector by 60% by 2031, with an ultimate goal of achieving net-zero emissions by 2060.
This announcement reinforces Nigeria’s leadership role under the Global Methane Pledge initiative and its commitment to tackling climate change.
The Group Chief Executive Officer of NNPC, Mele Kyari, disclosed these plans during a meeting on Thursday with Robert Leahman, the U.S. State Department’s Global Methane Program Manager, and a delegation from Deloitte.
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The discussions, held at the NNPC Towers in Abuja, focused on collaborative efforts to reduce methane emissions through innovative and sustainable practices.
“Reducing methane emissions is not just an environmental necessity but also a strategic imperative for Nigeria’s energy transition. We are leveraging partnerships to adopt global best practices and innovative solutions,” Kyari stated.
Key among these efforts is a pilot project in the Niger Delta, aimed at establishing emissions baselines, mitigating methane leaks, and promoting sustainable operations across Nigeria’s energy sector.
The project, a partnership between NNPC, Deloitte, and the U.S. Bureau of Energy Resources, will utilize data-driven methodologies to pinpoint and address methane hotspots.
Robert Leahman commended Nigeria’s proactive stance, describing it as a benchmark for other nations on the continent.
“Nigeria’s leadership under the Global Methane Pledge sets a standard for the continent. These initiatives will not only help reduce emissions but also drive sustainable development in the energy sector,” he said.
Kyari highlighted the broader benefits of addressing methane emissions, noting its significance for both environmental protection and economic efficiency.
“This collaboration is a game-changer. By addressing methane leaks, we’re reducing waste, saving costs, and protecting the environment. It’s a win-win for our economy and the planet,” he added.
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.
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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