www.NOGintelligence.com
Backtotop
Weekly Nigerian Oil and Gas Industry News Updates               Issue 93, 23rd May 2014
 

 
Join Our Mailing List




NOGintelligence Local Content Edition 2014 Front Cover










LATEST MAGAZINE ISSUE
Click to read












Click to read
In This Issue
Quick Links
Stay Connected

Like us on Facebook   Follow us on Twitter   View our profile on LinkedIn
NOGintelligence June Edition cover










NOGintelligence May edition
Cover NOGIntelligence April Magazine Edition
Diamond Bank logo
Total logo
Sopetro Marine Logo
Coastland Energy logo
Olaniwun Ajayi logo
Advisory Legal Consultants logo
Banwo & Ighodalo Logo
Wellmanned logo
NLPGA Logo
Havilah Energy logo
Z11 Dispersant

Welcome to our 93rd issue.  We are pleased to announce the online publication of our latest magazine issue, the Local Content Edition. Please click on the link in the left side bar to read it online. We will have it printed and ready for distribution at relevant conferences within the next two weeks or so.

Our next magazine issue will focus on Technology.  Do make sure you get in touch if you have any new technology for the Nigerian oil and gas industry as we will be devoting extensive editorial space to coverage of technology that is available in-country. 

Should you want more dedicated coverage then email us as soon as possible to secure your space and reach thousands of industry executives who want to know about your product or service. Do get in touch quickly as advertising space is always highly sought after in our magazines. We have a limited number of spaces and once they're gone they're gone.


We now have a section on our website for listing of Training. There is no payment for listing in our Training section if you are the organiser of the training. Please email info@NOGintelligence.com to request more information on listing your training programme.
UPSTREAM
Shell Divestment Winners Revealed

 

Details of the results of the latest round of Shell's divestment of its interest and that of its joint venture partners, Total and ENI in oil mining leases (OMLs) 18, 24, 25 and 29 are beginning to emerge. Through its own sources, NOGintelligence has been able to put together a picture of the winning bids although there is no official confirmation of the winners yet.  

 

Shell put the blocks up for sale discreetly in June last year but the process soon became a scramble leading Shell to open the application process up to over 100 companies. As Shell began to compile its shortlist, all sorts of consortia were formed as it became clear that it would be a very hard fought race. As a result, the winning bidders are mostly in consortia that have been formed to create formidable teams that are more likely to scale the financial hurdles for the acquisition of the assets.  

 

Already, the winning bidders have had to pay a 10 per cent deposit to secure their bids but Shell has given them a long-stop date of the end of June to pay the balance. Shell had always stated that it wished to complete the process quickly. The company is keen to complete this stage of the process and move on to the Ministerial Consent stage, a process that has been known to take more than a year.  

 

Some people are surprised that most of the winning bidders are names that are not known in the industry but that is unsurprising given that they are mostly special purpose vehicles (SPVs), which the consortium companies have formed to represent their interests under the joint ventures.  

 

OML 18, is said to have been won by Erotron, a consortium made up of Mart Resources, Suntrust Oil and Midwestern. OML 18 produces 21,000 bopd from 6 fields and 12 mmscf/d of gas.

 

Pan Ocean is understood to have put in the highest bid for OML 24, having decided to go it alone. As a long-term indigenous producer of 7,500 barrels per day from its OML 98, it had the credibility to pull off a sole bid. OML 24 has 25,000 bopd production from 3 fields and 8 mmscf/d of gas.  

 

Essar, made up of a consortium of indigenous professionals and a leading financier, is said to have won the bid for OML 25. The block is producing 33,000 bopd from 1 field and 2 mmscf/d of gas.

OML 29 is believed to have been won by a consortium that includes Aiteo and Taleveras who NOGintelligence previously revealed had been told to go and get other companies to join their consortium given that the two market traders have no real upstream experience. OML 29 includes the troubled Nembe Creek Trunkline, which has been under constant attack by oil thieves in the last few years, even in spite of a recent $2 billion upgrade by Shell. OML 29 produces 58,000 b0pd from 5 fields and 20 mmscf/d of gas. It supplies gas to NLNG.

 

Joint production from all four OMLs is about 90,000 bopd (a peak of 140,000 bopd in 2012) and 60 mmscf/d of gas but already identified routes mean production can quickly ramp up to 250,000 bopd and 150 mmscf/d.  

 

There can be no certainty of the final winners until they demonstrate their ability to fund their winning bids. NOGintelligence gathers that the position has been changing as those who failed to back up their bids are thrown out of the race. The companies involved are remaining tight-lipped until the ink is dry on the acquisitions, particularly in view of what is happening in the Chevron divestment, which is currently stuck in litigation.

 

NOGintelligence is still awaiting independent confirmation of the bid amounts, but we understand that the bids have surpassed the initial estimates of analysts. It is does appear that the bidders were all undeterred by the insistence of the Nigerian National Petroleum Corporation (NNPC) (owners of a 55 per cent stake in the assets) that operatorship reverts to it following divestment by Shell.  

 

The winners will be hopeful that they can secure a deal with NNPC that will allow them to operate the assets as NNPC's catalogue of operated assets continues to grow as a result of the divestments but with no corresponding investment in the capacity it needs to be able to operate all those assets. It is a hopeful situation as there is already a precedent for this in some of the Shell divested such as OMLs 26, 30, 34, 40 and 42. They are currently operated by the buyers of the divested stakes in various kinds of arrangements.  

 

Shell has so far raked in over $1.78 billion over the last few years as it continues on its mission to sell off its Nigerian onshore assets. The company plans to raise $15 billion from the sale of assets worldwide this year.

 

Back to top 

Lekoil Acquires 40% Interest in Green Energy's Otatikpo Marginal Field

 

London's Alternative Investment Market (AIM) listed Lekoil has signed a farm in agreement with Green Energy International Ltd under which it will acquire a 40 per cent interest in the Otatikpo marginal field. Otatikpo has 2C reserves estimates of 36 million barrels of oil and 31 billion cubic feet of gas. After its acquisition of a 40 per cent equity interest in the field, Lekoil will have added 14 mmbbl of oil and 12 bcf of gas to its books.

 

Lekoil Oil also revealed some of the financial details of the transaction. It is required to pay a signing bonus of $7 million to Green Energy as well as a production bonus of $4 million. The latter is contingent on production as well as receipt of ministerial consent to the transfer of the participating interest. Lekoil will acquire the interest through its Nigerian subsidiary, Lekoil Nigeria in which it has a 90 per cent economic interest. Lekoil enters into the joint venture as Green Energy's technical partner.

 

Otakikpo is located in oil mining lease (OML) 11, held by joint venture partners, Nigerian National Petroleum Corporation (NNPC), Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited. The field is in a swamp location, in the eastern part of the Niger Delta.

 

Otatikpo was awarded to Green Energy in 2011 in a discretionary allocation. The award came under fire after being awarded by the Federal Government outside an official bid round. Under the Petroleum Act, the President has the power to grant discretionary awards of oil and gas licences. In the face of criticism of such opaque awards, the Federal Government press machinery has pointed out that the licensees usually have onerous local content projects, which they are obliged to undertake. Green Energy must develop a small-scale gas utilisation project within 30 months of commencement of production as part of the conditions of the award.

 

Under Lekoil's agreement with Green Energy, it will fund the initial work programme, which consists of the re-entry of the existing wells on the field. Lekoil will also fund all costs, estimated at approximately $67 million, until commencement of production. It will recover the expenditure on the initial work programme from a preferential 88 per cent of production cash flow from Otakikpo. Green Energy can terminate the agreement if Lekoil Oil and Gas fails to follow through on its obligation to pay $11 million for the acquisition or to fund the initial work programme.

 

Although the transfer of the equity participation interest is contingent on Ministerial Consent to the transfer, which can sometimes take more than a year, Lekoil will not have to wait till then to enjoy benefits of the proposed acquisition. The parties have signed a Financial and Technical Services Agreement, which takes effect immediately, enabling Lekoil to enjoy an economic interest in the 40 per cent share it proposes to acquire.

 

The field is covered by partial 2D seismic with a limited amount of 3D acquired over the southern area. Three wells have been drilled in the field and hydrocarbons were encountered in multiple intervals. The field is close to existing infrastructure for the delivery of crude to market. As a marginal field, Otakikpo will benefit from attractive fiscal terms, principally a 55% tax rate on net income.

 

Commenting, Lekan Akinyanmi, Lekoil's CEO, said, "Acquiring this interest in Otakikpo is a very attractive proposition, economically and operationally for Lekoil. It brings access to near term production - in line with our growth strategy, cash flow to fund activity on our other assets and upside potential to be proved up from 3D seismic and appraisal drilling. As the Technical and Financial Partner we will be able to showcase the technical ability within the Company to bring assets into production."

 

Lekoil is planning to place approximately 10 per cent of its issued share capital with institutional and other investors and the net proceeds will be used to fund the equity portion of the work programme - about 20 per cent. It then intends to obtain a reserves based lending facility from domestic banks to fund the remaining 80 per cent of the work programme.

 

Analysts are beginning to sit up and take notice of Lekoil's acendancy, with Westhouse analyst Mark Henderson moving his "add" recommendation up to a "buy" with a target price of 86p up from his previous 62p recommendation. Lekoil made a giant discovery last year, with its Ogo exploration well, which turned out to be one of the largest discoveries worldwide for last year. Lekoil is also expected to feature in the soon to be revealed results of the latest round of Shell divestments.

 

Lekoil expects its latest acquisition to be in production within 12-18 months.

 

CAMAC Awards Offshore Development Contract for Oyo Field Project to Ceona/Marine Platforms

New York Stock Exchange listed CAMAC Energy is continuing the development of its Oyo field with the revelation that it has awarded valuable project work to subsea umbilicals, risers and flowlines (SURF) specialist, Ceona.   The contract consists of the installation and recovery of umbilical and flexible pipe as well as light subsea construction in up to 500 metres water depth.

 

UK company, Ceona will execute the contract as Project Manager, while local offshore support and engineering work will be delivered in partnership with local partner, Marine Platforms Limited, one of a growing band of indigenous companies developing deeper capabilities in the offshore sector.

 

Ceona plans to use the DP-3 offshore construction vessel, Normand Pacific, which it mobilized with a new high-specification 75t VLS, a reel drive system of 400t reels and two work-class ROVOP ROVs for the offshore works planned to commence in July 2014. Ceona has chartered the vessel from Solstad Offshore since April 2014 for one year, with an option of extension making it easy to move the vessel from its location in the Gulf of Mexico where it was working on a Ceona contract for the installation of umbilicals for Bennu Oil.

 

Mark Preece, Executive VP Commercial and Business Development at Ceona expressed his delight at securing the installation project for CAMAC Energy, adding: "West Africa is a key market for Ceona and we are well positioned to compete for the many upcoming SURF projects in the region".  

 

Oyo field is located on CAMAC's principal assets, oil mining leases (OMLs) 120 and 121 in deep water, offshore Nigeria. Oyo was the first deep water discovery in Nigeria and has been in production since December 2009. Drilling operations at the Oyo-7 well commenced in September 2013 using Transocean's Sedneth 701 drilling rig.

 

The company says it is currently pursuing further additions to its exploration portfolio in East and West Africa after successful raising $270 million in equity investment from South African State-owned company, the Public Investment Corporation (PIC) representing approximately 30% ownership interest in CAMAC after completion of the transactions. Established in 1911, PIC is one of the largest investment managers in Africa, managing assets of over US$140 billion, and manages funds on behalf of the Government Employees Pension Fund in South Africa.

 

CAMAC's goal is to be able to produce about 14,000 barrels of oil per day once Oyo-7 and Oyo-8 are completed this year.

 
Back to top
DOWNSTREAM
OPEC Daily Basket Price Stood at $107.00 a Barrel Thursday, 22 May 2014

The price of OPEC basket of twelve crudesstood at $107.00 a barrel on Thursday, compared with $106.82 the previous day, according to OPEC Secretariat calculations.  The price of OPEC oil continues on an upward trajectory as it has been for two weeks, buoyed by news of the International Economic Agency (IEA)'s forecast of growing world demand for oil.

 

Introduced on 16 June 2005, is currently made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

 

Back to top
FINANCIAL
Heritage Oil Sold to Qatar Sovereign Wealth Fund

 

Heritage Oil, the partner of Shoreline Power Company in Shoreline Natural Resources, which owns a 45 per cent interest in (oil mining lease), OML 30, has been sold to a Qatar sovereign wealth fund, Al Mirqab Capital. Heritage Oil is an independent Jersey-based oil and gas exploration and production company. Founded by controversial figure and former mercenary, Tony Buckingham, its activities are currently focused on Africa.

 

The partnership with Shoreline came under great scrutiny after the $850 million OML 30 acquisition in 2012. There was a media backlash in view of which the House of Representatives brought an investigation into whether Buckingham was fit to be awarded an OML. After Shoreline put up a vigorous defence of their business partner Buckingham who is the CEO of Heritage Oil, the whole matter died down and since then, OML 30 has been delivering great returns for Heritage.

 

Last year, Heritage, which is listed on the London Stock Exchange, released its Interim Management Statement for the period from 1 July 2013 to 18 November 2013, which showed that its revenues had been transformed with production up 60 per cent compared to the first half of the year. The company said its investment in OML 30 through Shoreline Natural Resources was key to the dramatic improvement in the company's fortunes after generating total revenues of $49.1 million in the third quarter 2013 (compared to $2.1 million, Q3 2012), of which $46.4 million was from the interest in Shoreline Natural Resources Limited. They closed the year with a profit of $100.4 million for 2013 on sales of $431.9 million. Production in OML 30 has reached 50,000 barrels per day.  Another boost to its fortunes came from the settlement of a tax dispute under which it obtained various tax waivers leading to a substantial reduction in tax.

 

Al Mirqab Capital, a company controlled by Qatar's royal family, made a cash offer valuing Heritage Oil Plc at $1.55 billion. In view of its good fortunes, owing mainly to its Nigerian oil production, Heritage said it had recommended a 320 pence per share cash offer, which represented a 25 per cent premium to its closing price the day before the approach was announced. Tony Buckingham will retain a 20 per cent holding and serve as an adviser for at least five years.

 

Heritage Chairman, Michael Hibberd said in a statement: "The independent committee of Heritage's board believes that the offer represents an attractive and certain value."

 

Qatar's Sheikh Hamad Bin Jassim Bin Jabor Al Thani and his family own Al Mirqab Capital. Sheikh Hamad used to be CEO of the Qatar Investment Authority and is now driving the family's private investment vehicle to scoop up valuable stakes in blue chips, real estate and luxury brands around the world. 

 

The new investors intend to grow Heritage's production in Nigeria and also develop its exploration portfolio in Tanzania and Papua New Guinea. Heritage sold its Kurdistan assets to raise the funds for the acquisition of its interest in OML 30. The sale to Al Mirqab Caital is subject to shareholder approval.

 

Seawolf Oil Services in Receivership as a Going Concern

 

A Notice of Appointment of Receiver has been issued in respect of Seawolf Oilfield Services. The notice was issued by Michael Igbokwe, SAN after being appointed by the Asset Management Corporation of Nigeria (AMCON) as Receiver/Manager of the oil service company. Debtors of Seawolf and its related companies are to pay their debts directly to the Receiver, whilst creditors are to send their proof of claims to the Receiver by the 7th of June. The Receiver stressed to contractors in the notice that Seawolf remains a going concern and that there is every intention to ensure its viability.

 

Seawolf is a rig leasing company, operating offshore jack-ups. Many have been amazed at the rapid expansion of the oil services company, which was set up in 2007 by former banker, Adolor Uwanu, and lawyer, Mr. Remi Okunlola

 

In 2009, the ambitious company took delivery of two rigs built for the ambitious company at the MIS Sharjah shipyard in Dubai under a $254 million contract. One of those rigs, the Seawolf Onome was named after the wife of the Executive Director and Co-founder of Seawolf, Remi Okunlola. The other, the SeaWolf Oritsetimeyin was the first offshore jack-up drilling rig ever built in the Middle East region. The two rigs with the capacity to operate in water depths of up to 92 metres (300 feet) arrived in Nigeria early in 2010 to join their other rig, the Delta Queen, which arrived in Nigeria only the year before.

 

The new rigs were said at the time of arrival in Nigeria to be valued at $508 million. The Delta Queen went to work for Conoil, while Onome was deployed to Addax. The Oritsetimeyin took part in a number of contract bids and won two of them.

 

With the rapid purchase of the vessels, questions began to be asked about how such a young company was able to raise so much finance so quickly. In 2007, not long after the company was formed it had acquired a $260 million bridge facility from First Bank, which enabled it to purchase the rigs. First Bank justifies giving it the loan based on its assessment of the state of the oil and gas industry at the time. Oil prices were then in excess of $110 per barrel and the Federal Government was on a drive to take oil reserves from 35 billion barrels 40 billion. With the unrest in the Niger Delta, the expectation was that most of the increased activity would come from the offshore sector and this would drive demand for jack up rigs. With most jack up's in Nigeria at the time being over 20 years old, it was expected that the new rigs would have a competitive edge.

 

Much needed cash flow did not come in time to pay off the facility, and so the bridge loan was converted into a medium term loan repayable in 9 years. Charges were taken over the company's assets for the new $586 million and N588 medium term loans and N12 billion custom bond. This became the bank's largest credit exposure representing about 28.45 per cent of shareholder funds.

 

Conscious of the huge debt they were carrying, Okunlola said at the time: "We're hugely leveraged; we borrowed a load of cash from a market that is suffering from a credit crunch."

 

Also responding to concerns at the height of the controversy over the First Bank funding, Mr Okunlola said about the approval process: "We (my partner and I) were amazed by the non-Nigerian-ness of the approval. It was approved completely on the strength of the deal. These jack-up rigs are essentially the primary security that the bank has for the investment that was made in us."

 

First Bank continued to deny that the loan was non-performing but things changed in 2010 when the Asset Management Corporation of Nigeria (AMCON) was established pursuant to the Asset Management Corporation of Nigeria Act no. 4, 2010. Its mandate was to "efficiently resolve non-performing loan assets of banks in Nigeria."

 

Soon after, a list of non-performing loans emerged, which included Seawolf, although AMCON later came forward to say that not all of the loans on the list were non-performing. Seawolf's indebtedness to First Bank, to the tune of N100 billion by then was one of those determined that though "largely performing" would be taken was taken over because "they could potentially pose a risk." First Bank was compelled to sell the loan to AMCON.

 

The Receiver/Manager has instructed banks and financial institutions to hold any deposits of cash and other assets of Seawolf or its related companies until further instructions are issued.

 

Caverton Lists on the Nigerian Stock Exchange with $196 Million Capitalisation

 

Caverton Offshore Support Group Plc has made history as the first oil services company to list on the Nigerian Stock Exchange (NSE). The service company, which owns two subsidiaries, Caverton Helicopters and Caverton Marine, listed on Tuesday with a market capitalisation of just under N32 billion (about N196 million) after an initial offering 3.35 billion shares of 50 kobo each. The shares were listed at N9.50 and just after the listing investors traded 5.549 million shares worth N52.734 million in 42 deals.

 

Oscar Onyema, the Chief Executive Officer of the NSE is very pleased about the development as he has been taking steps to persuade oil and gas companies to list on the Stock Exchange. He said: "We are proud that Caverton has taken a strategic step to join the prestigious club of quoted companies in Nigeria. We commend them for this bold step. We must also note the giant strides made by Caverton in strengthening its governance structure to prepare as a listed company." He mentioned the fact that the company has been making a profit and paying dividends consistently since 2009.  

 

Caverton's net income rose to N1.88 billion in 2013 from N1.36 billion the previous year while revenue rose to N18.6 billion from N16.1 billion.

 

Chairman of Caverton, Mr. Aderemi Makanjuola, said: "We are extremely pleased as Caverton enters its next phase of growth as a listed company. Leveraging our expertise and execution capabilities, we plan to embark immediately on fleet expansion and the development of new service areas in the offshore marine and aviation sectors."

 

 "Caverton is at a stage where it needs to access more capital because more contracts are coming in. We also need to train more people and ensure that Nigerian engineers and pilots derive greater benefits from the evolving opportunities and that instead of hiring people from abroad and taking out the money, we can help Nigerians to acquire the necessary capacities and hire them," he continued.

 

Following the historic listing, the company is now poised to expand across Africa. They are looking to take their two businesses to Congo, Mozambique, Angola and Ghana over the next few years. They are already in Cameroon. Seven new helicopters and one fixed wing aircraft are planned. The listing will give the company access to funding to execute some of the contracts it is bidding for, including an aviation support contract that will require 26 helicopters and three marine support service contracts that will require up to seven vessels.

 

Caverton has already begun to make some changes in preparation for its new positioning. The change in the branding, which unifies the Caverton logo across all their companies reflect the common purpose of the three distinct entities in the group - Offshore Support, Helicopters and Marine.

LEGAL
Nigerian Community Back in UK Court over Shell Compensation for Oil Spill

 

The fight by around 15,000 members of the Bodo community for compensation for the 2008 oil spills in their communities by Shell is back in a UK High Court.  Although Shell admitted liability for the spills in 2011 arguments have continued over the amount of the spills, how much damage was caused and the amount of compensation to be paid to the community who say their livelihoods have been decimated as a result of the spills.

 

The community members are represented by London firm, Leigh Day is said to be looking for $200 million in compensation while Shell is said to have offered $46 million a sum rejected by Leigh Day as insulting. Martyn Day, senior partner at the firm said that his clients know how much their claim is worth and will not be bought off cheaply.  He expects the community to get a lump sum payment from the settlement and individual amounts to also go to each member of the community. He said that each of those affected earned $5-8,000 a year before the spills robbed them of their livelihoods.

 

The parties are still not agreed on the amount of the spills, which may become an issue in court. While Shell says 4100 barrels were lost in the two spills, Leigh Day maintains that 500,000 and 600,000 barrels were spilled. Shell blames most of the spills on "widespread and continual criminal activity, including sabotage, theft and illegal refining, that leads to the vast majority of oil being spilled." Activists remain critical however, accusing the company of not doing enough to prevent the damage and clean up after the spills.

 

In a statement Mutiu Sunmonu, managing director of Shell Petroleum Development Company of Nigeria Limited (SPDC) said: "From the outset, we've accepted responsibility for the two operational spills in Bodo in 2008.  They're deeply regrettable operational accidents, and they absolutely should not have happened."

 

"We want to fairly compensate those who have been genuinely affected as quickly as possible and clean up all areas where oil has been spilled from our facilities, including the many parts of Bodo which have been severely impacted by oil theft, illegal refining and sabotage activities," he continued.

Leigh Day partner, Martyn Day said they would ensure that Shell pays out a fair amount for the damage they have caused and put the Bodo Creek back into its pre-spill state.

 

LABOUR RELATIONS
PENGASSAN Threatens Strike Over New Payment System

 

Members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) are threatening to close oil and gas installations across the country if a controversial new salary payment system is implemented. The threat was contained in a statement signed by PENGASSAN's media and publicity officer, Babatunde Oke.

 

The Federal Government is due to widen the payment of the salaries of certain government agencies through the Integrated Personnel Payroll System (IPPIS). This will affect staff of the Department of Petroleum Resources, Petroleum Products Pricing Regulatory Agency, Nigeria Content Development Board, Nigeria Nuclear Regulatory Authority and Petroleum Training Institute.  Members of PENGASSAN are against the new payment system.

 

In 2004 the Federal Government of Nigeria, supported by the World Bank embarked on a wide-ranging Public Service Reform Program starting with Civil Service Reforms in a selected group of Ministries, Departments and Agencies (MDAs). A key recommendation from initial diagnostic work undertaken in preparation for the World Bank support mechanism was the need for the Federal Government to quickly deploy an integrated personnel and payroll solution.

 

Strategic IT firm, TechnoVision Communications says that five hundred million Naira was saved from the 6 pilot MDAs through the project within the first nine months, with salaries now remitted electronically to staff bank accounts, through the Nigeria Inter Bank Settlement System (NIBSS).

 

PENGASSAN The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened to embark on a strike should the Federal Government embark on the payment of the salaries of its members in government agencies through the implementation of the Integrated Personnel Payroll System (IPPIS) for oil workers.

 

CORPORATE SOCIAL RESPONSIBILITY
NNPC Wins 14th Nigeria Oil Industry Games

 

The Nigerian National Petroleum Corporation (NNPC) has won the 14th edition of the Nigeria Oil & Gas Industry Games (NOGIG) after winning 14 gold, 11 silver and 13 bronze medals. They beat 11 other oil companies that participated in this year's games.

 

This year's NOGIG held in Lagos featured athletics, basketball, chess, football, golf, scrabble, squash, swimming, table tennis, tennis and 8-ball pool. Participants were drawn from Agip, Addax, Chevron, ExxonMobil, DPR, NCDMB, NLNG, NNPC, Oando, Total, PTI and SPDC.

 

In a press statement signed by the Group General Manager, Group Public Affairs Division of NNPC, Ohi Alegbe, the Group Managing Director of NNPC, Andrew Yakubu, commended his firm's victorious outing, urging them to begin preparing for the 2016 games. He said: "I urge you not to rest on your oars because getting to the top is often challenging and most times very tough. Sustaining the top position is even more daunting."

He further urged them to employ the good sporting qualities learnt at the tournament in the work environment so as to enhance their effectiveness and productivity.

NOGIG is a competition that brings together participating companies in the industry once every 2 years to compete in variety of games and events in a bid to be declared the winner and "top dog" of sports in the industry. Please visit the website http://nogig.org/ for pictures, and other information about the games. 

 

TENDERS
LATEST TENDERS

Chevron: Provision of Slickline Services

The closing date for this opportunity is 1st June 2014.  

 

Shell: Provision of Corporate Courier Services

The closing date for this opportunity is 2nd June 2014.

 

Star Deep Water Petroleum Limited: Provision of Sand Control and Simulation Services

The closing date for this opportunity is 3rd June 2014.

 

Shell: Provision of Oguta Lease Compressors Maintenance Services

The closing date for this opportunity is 6st June 2014.

 

Chevron: Provision of Diving Support Vessel

The closing date for this opportunity is 9th June 2014.

 

Chevron: Provision of Export Terminal Tugs

The closing date for this opportunity is 9th June 2014.

 

Chevron: Provision of Platform Supply Vessel

The closing date for this opportunity is 9th June 2014.

 

NAOC: Provision of ICT Spares and Consumables

The closing date for this opportunity is 9th June 2014.

 

NAOC: Provision of Tetra IP Network Infrastructure

The closing date for this opportunity is 9th June 2014.

 

Shell: Provision of Drilling Waste Management (Skips Provision and Transportation)

The closing date for this opportunity is 11th June 2014.

 

NAOC: Provision of   Software Solution Services

The closing date for this opportunity is 12th June 2014.

 

NAOC: Provision of   Fibre Optics Link Services

The closing date for this opportunity is 13th June 2014.

 

NAOC: Provision of VDC Infrastructure and Support Services

The closing date for this opportunity is 13th June 2014.

 

Read more about these opportunities on our website www.nogintelligence.com/latest-tenders/

 

EVENTS

Federal Government Sets Date for 2014 Oil and Gas Trade and Investment Forum


The Federal Government has set the date for this year's Oil and Gas Trade and Investment Forum. The event, organised by the Federal Ministry of Industry, Trade & Investment in collaboration with the Federal Ministry of Petroleum Resources and Orlean Invest West Africa Limited, and supported by the Federal Ministry of Transport.

The two-day conference and exhibition will take place from 30-31 October 2014 and will welcome thousands of delegates to the Onne Oil & Gas Free Zone to learn, network and do business. The 2013 Oil and Gas Trade and Investment Forum recorded over 2500 participants, 100 exhibitors and over 500 investment enquiries received by both the Ministry and Oil and Gas Free Zone Authority. To register, visit http://www.nigeriaoilandgasinvest.com/

 

LATEST EVENTS

The 11th Maghreb, Mediterranean, Mideast Upstream Conference 2014

Nicosia, Cyprus

19-21 May 2014

 http://www.glopac-partners.com  

   

11th African Independents Forum

London, England

2-3 June 2014

http://www.petro21.com/events   

 

Oil and Gas Strategic Recruitment Forum

Aberdeen, UK

03 June 2014

http://www.oghr.co.uk/events/recruitment 

 

Somalia Oil and Gas

Somalia

9 June 2014

http://www.somalia-oil-gas.com

 

FPSO Africa
Lagos, Nigeria
9-11 June
 http://www.FPSO-Africa.com

 

East Africa Oil and Gas Summit

London, UK

10-12 June

http://eastafrica-oil-gas.com

 

Refining Technology Africa 
23-26 June 2014
Cape Town, South Africa
 http://www.refiningtechnologyafrica.com

4th Downstream Oil and Gas Expo

Abuja, Nigeria

26-28 August 2014

www.oilandgasexpos.com


 

3rd International Downstream Conference/Exhibition on Gas, Petroleum Refining, Petrochemicals and Fertilisers

Port Harcourt, Nigeria

27th -28th August 2014

 www.cgrpng.org

2nd Africa Oil & Gas, Finance and Investment Forum 

Dubai, UAE

23 - 24 September 2014

www.aogfi.com 

 

Nigeria Oil and Gas Trade and Investment Forum

Onne, Nigeria

30-31 October 2014

http://www.nigeriaoilandgasinvest.com/

 

21st Africa Oil Week

Cape Town, South Africa

3-7 November 2014 

 http://www.petro21.com/events 

 

32nd Annual International Conference of the Nigerian Association of Petroleum Explorationists

Lagos, Nigeria

09-13 November 2014 

www.nape.org.ng 

 

Practical Nigerian Content

Yenagoa, Nigeria

18-20 November

 http://www.ncipnc.com/  

 

Mozambique Gas Summit

Maputo, Mozambique 

2-5 December 2014 

http://www.mozambique-gas-summit.com/ 

 
JOBS & TRAINING

LATEST JOBS: 

  • Chevron
  • Addax  

More details on our website 

 

TRAINING:

 

Samsung Heavy Industries Intensive: Technical Training Programme

 

University of Port Harcourt Offshore Training Institute: M.Sc. Pipeline Engineering and M.Sc. Offshore Engineering

 

More details on our website 

 

Don't forget to join our mailing list if you haven't done so already. Remember, you won't have to look anywhere else for your weekly Nigerian oil industry updates, and it's free to join.

Best wishes

 
Remi Aiyela
Editor-in-Chief

The most widely read source of news and information on the Nigerian Oil and Gas industry!


Copyright © 2012. All Rights Reserved.