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 Politics › Re: Another Terrorist Attack: Obiano Have Been Exposed For Hiding The Truth by FKO81(m): 8:23pm On Aug 13, 2017 |
RisingSun1:Go..a.t you guys evil plans will not work in Anambra 2 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 7:58pm On Aug 13, 2017 |
laudate:No he is Yoruba Benedict peter Aiteo group chairman is Igbo and CHIKE ONYEJEKWE Managing Director, AITEO Chike is the Group Managing Director of Aiteo Production and Development Company Limited. He graduated from University of Nigeria Nsukka as a Geologist and has extensive knowledge, depth and breath of experience in the Oil and Gas industry within and outside Nigeria. Chike has occupied Leadership and Senior management positions spanning over 30 years in the oil and gas industry. He was Managing Director of SNEPCo (Shell Nigeria Exploration and Production Company), a position where he was responsible for Deep Water Oil and Gas development and Production activities in addition to managing various external, commercial, contractual, technical and reputational issues with stakeholders, Partners and Government Chike is an alumnus of Ashridge Business School London and Wharton School of Business USA. Within his career years, he was privileged to work and operate both under the JV and PSC contract terms. 2 Likes 1 Share |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 7:41pm On Aug 13, 2017 |
laudate:https://m.guardian.ng/energy/aiteo-emerges-nigerias-leading-oil-and-gas-company-with-record-90kpod-output-in-1yr/ 1 Like |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 1:13pm On Aug 13, 2017 |
laudate:http://googleweblight.com/i?u=http://www.vanguardngr.com/2017/03/aiteo-emerges-nigerias-leading-oil-gas-company-with-record-90kpod-output-in-1yr/&grqid=qe9LZu0m&hl=en-NG Aiteo emerges Nigeria’s leading oil & gas company with record 90kpod output in 1yr Aiteo emerges Nigeria’s leading oil & gas company with record 90kpod output in 1yr /ON MARCH 6, 201711:27 PM/ By Adekunle Aliyu Integrated energy group Aiteo has announced a peak production of 90kpod just one year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil bloc OML 29. Aiteo acquired OML 29 in September, 2015 when oil major Shell Petroleum Development Company (SPDC) fully exited the facility. At the time of the divestment, average production was 23Kbpod. But Aiteo, one of the frontline sponsors of the just-concluded 16th Oil and Gas (NOG) Conference held in the country’s capital Abuja, says it has tripled this figure leveraging the diversity and skills of its work force and bona fides as a dynamic international energy conglomerate. |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 1:06pm On Aug 13, 2017 |
laudate:Agbami field Country Nigeria Offshore/onshore Offshore Operators Star Deep Water Partners Chevron, Famfa Oil, Petrobras, Statoil, NNPC Field history Discovery 1998 Start of production 2008 Production Current production of oil 70,000 barrels per day (~3.5×106 t/a) Peak of production (oil) 250,000 barrels per day (~1.2×107 t/a) Estimated oil in place 123 million tonnes (~ 100×106 m3 or 900 MMbbl) Producing formations Lower and middle Miocene deepwater turbiditic sandstones The field is located in nearly 1,500 meters (4,900 ft) of water off the central Niger Delta. The operator of the field is Star Deep Water Limited, an affiliate of Chevron. Also involved in the field are Famfa Oil, an indigenous oil company owned by the Alakija Family of Lagos, Petrobras (Brazil), Statoil, and NNPC (the national oil company of Nigeria). https://googleweblight.com/i?u=https://en.m.wikipedia.org/wiki/Agba 1 Like |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 12:58pm On Aug 13, 2017 |
laudate:I don't need screenshot I need source of your information |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 12:55pm On Aug 13, 2017 |
April 2017 Aiteo Group and Seplat lead indigenous Nigerian groundswell A great change is occurring in at the grassroots of the oil and gas sector in Nigeria. For most of our country's history as a petro-state, the International Oil Companies have called the shots, dominating the exploration and production of oil products. But now, indigenous companies are beginning to develop the capacity to compete with the IOCs, seizing back control and fortifying a groundswell of local content. Let's start with the history: when we think of the Nigerian oil sector, much in the same way that when we think of the oil sector anywhere, the names that come to mind are ExxonMobil, Chevron, Total, and Shell. In Nigeria, as across the world, these are some of the IOCs that routinely partner with, and benefit from, the Nigerian National Petroleum Corporation (NNPC). These are the companies that are given the opportunity to dive into the exploration and production of oil from some of the largest fields in the Niger Delta, some of which have the capacity to produce several hundred thousand barrels of oil daily. The size of the IOCs production infrastructure and the reach of their distribution networks has long seen them favoured in the allocation of oil mining licences (OMLs). They are preferred over smaller firms for the sake of ease, as much as anything, and in the hope of a job well done. But the status-quo has shifted and with it, the dynamics of Nigeria's oil and gas sector are fast changing. Indigenous players are gearing up to grapple for control of Nigeria's upstream oil and gas industry from the majors that have dominated it for so long. But why the change of heart? Why are the indigenous players even being considered in the same breath as the IOCs? The proof, as they say in the UK, is in the pudding. Over the past 5 years or so, the local content providers have proved their ability by ramping up production capacity on the oil blocks to which they were given licence. Rather than being greedy and failing, they have consolidated the areas gently and slowly and, in doing so, have made serious gains on their IOCs counterparts in terms of technical expertise and finance capability. Per industry analysts, the indigenous companies breaking new ground include Seplat, Oando Plc, Nestoil, Newcross Petroleum Limited, but it is the integrated company Aiteo Group, run by the reclusive businessman Benedict Peters, that experts say is truly leading the charge. Industry pundits in Nigeria and wider international commentary platforms are keeping a close eye on Aiteo Group. After a strong run of results in 2017 YTD, the plucky local firm is even being tipped as one of the major players in the industry going by its antecedents. Aiteo Group discovers, produces, stores and delivers energy resources to marketplaces worldwide, and is currently working on developing energy resources in some of the world's most significant basins. In 2015, Aiteo was awarded the majority share in OML 29 after Shell put it up for tender and, in the last 12 months, has tripled production at the onshore site, reaching the heady heights of 90,000 barrels per day by March. Elsewhere in the indigenous sector, Seplat Petroleum Development Company Plc isn't far behind Aiteo, with production topping out at 50,000 bpd of crude oil YTD. Seplat are also currently supporting government on completion of the Amukpe to the Escravos pipeline which could spell favourable treatment in years to come. So what's the secret? It looks as though indigenous operators have been able to raise capital in a very effective fashion, allowing the acquisition of apparently marginal assets from IOCs. Once secured, the effective deployment of human and infrastructure capital has seen the indigenous firms either maintain, or exceed, inherited production levels. An even greater feat when once considers the grim picture that usually comes with a downturn in the oil markets. With indigenous firms accounting for approximately 12 per cent of Nigeria's 1.8million bpd total oil production, there is still a long way to go before the IOCs will be forced to address anything in-country. But it is encouraging to see the progress being made and the rewards being delivered to Nigeria. Further confirmation of our inherent entrepreneurial spirit, as if any more was needed! https://googleweblight.com/i?u=https://oilvoice.com/Opinion/3952/Aiteo-Group-and-Seplat-lead-indigenous-Nigerian-groundswell&grqid=Pt2tQmTU&hl=en-NG 4 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 12:40pm On Aug 13, 2017 |
laudate:Current Agbami field production is 70,000pbd which star deep water is the operator both oml 127 and 128 and partners are Chevron, famfa, statoil, Petrobrass and NNPC, NNPC hold more than 30% in all wells in Nigeria |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 12:21pm On Aug 13, 2017 |
Laudate you claimed farmfa produces 200,000 BPD more than Aiteo which produces 90,000 and also indigenous leading oil firm in Nigeria, current Agbami field production is 70,000bpd all wells and many partners are involved, which you never mention, the hair dresser is not the owner of oml 127, all wells are owned by FG, it was allocated to her by IBB, you can't compare Alakija or Danjuma to people like Brittania-u, AITEO, NECONDE, EROTON, who spent their money and acquired the wells and have been active exploration. Agbami Field Agbami Field is an oil field in Nigeria. Discovered in late 1998, it was the second major deepwater oil field discovered off the Niger Delta, the first being Bonga Field by Shell. Agbami field Country Nigeria Offshore/onshore Offshore Operators Star Deep Water Partners Chevron, Famfa Oil, Petrobras, Statoil, NNPC Field history Discovery 1998 Start of production 2008 Production Current production of oil 70,000 barrels per day (~3.5×106 t/a) Peak of production (oil) 250,000 barrels per day (~1.2×107 t/a) Estimated oil in place 123 million tonnes (~ 100×106 m3 or 900 MMbbl) Producing formations Lower and middle Miocene deepwater turbiditic sandstones The field is located in nearly 1,500 meters (4,900 ft) of water off the central Niger Delta. The operator of the field is Star Deep Water Limited, an affiliate of Chevron. Also involved in the field are Famfa Oil, an indigenous oil company owned by the Alakija Family of Lagos, Petrobras (Brazil), Statoil, and NNPC (the national oil company of Nigeria). 1 Like |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:09am On Aug 13, 2017*. Modified: 11:30am On Aug 13, 2017 |
laudate:Read your first post on Agbami oil field, and tell who is doing the shooting, from Chevron site it clearly stated that Agbami field produces 150 BPD all the wells, I know you were shocked to see the partners and their stakes as usual trying to cover up, you claimed famfa produces 200 BPD, and you referred me to fool.com.uk laudate: Did you read this article at all before you posted it? Do you realise that it corroborates what Deomelo and I have been saying all along? It is clearly stated in there that "Aiteo’s landmark achievements since its foray into the upstream sector is the production of 90,000bpd." Now, compare this figure to the 200,000 bpd being produced by Famfa since 2009! It is clear that Famfa's output outstrips Aiteo's output, by a huge margin! shocked 1 Like |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 9:58pm On Aug 11, 2017 |
Agbami Field http://www.offshoreenergytoday.com/statoil Currently, Statoil has 20.21% interest in Agbami, operator Chevron has 67.30%, and Petrobras holds the remaining 12.49% interest. The field lies approximately 110 kilometers off the Nigerian coastline and it started producing oil in July 2008. According to Statoil’s press release on Friday, the company has received an Expert calculation of revised tract participations for the Agbami field. Assuming the revisions are implemented, Statoils says the calculation will result in a reduction of 5.17% in Statoil’s equity interest in the field to 15.04%. “Statoil previously initiated arbitration proceedings to set aside interim decisions made by the Expert. By a decision received by Statoil on November 4, 2015, the arbitration tribunal has declined to set aside the Expert’s interim decisions,” the company explained in its press release. Statoil says it is currently assessing its position in relation to the Expert’s decision and the decision of the arbitration tribunal. Statoil says it has so far made an accrual of NOK 7.5 billion ($877M). Assuming implementation in accordance with the Expert ruling, Statoil will have to compensate other equity owners at Agbami of about NOK 1.6 billion in addition to the accrual as of end third quarter 2015, the company explained. Statoil added that eventual settlement of any imbalance amount would be made over time through cash-calls issued by the unit operator. Agbami is a subsea development with wells tied back to a floating production, storage and offloading (FPSO) vessel. As of early 2015, eight of the wells were producing. According to Chevron, the next phase, Agbami 3, is a five-well drilling program that began drilling in early 2015 and is expected to start production in 2016. Drilling is scheduled to continue through 2017. 1 Like |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 9:49pm On Aug 11, 2017*. Modified: 11:00pm On Aug 11, 2017 |
laudate:https://www.chevron.com/worldwide/ Chevron operates the Agbami Field, which lies 70 miles (113 km) off the coast of the central Niger Delta region and spans 45,000 acres (182 sq km). Discovered in 1998, the Agbami Field is at a water depth of approximately 4,800 feet (1,463 m). Chevron has a 67.3 percent interest in the field. In 2016, net daily production averaged 120,000 barrels of crude oil and 12 million cubic feet of natural gas. Agbami is a subsea development with wells tied back to a floating production, storage and offloading (FPSO) vessel. The first two phases of infill drilling, Agbami 2 and Agbami 3, are nearly completed, with the last of the 15 wells expected to come on line in the second half of 2017. |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 9:20pm On Aug 11, 2017*. Modified: 10:00pm On Aug 11, 2017 |
Scholes007:Don't mind them, they claimed in their thread that Egina fabrication yard is owned by Ladol, Ladol is not among top ten oil servicing firms in NIGERIA 1 Like |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 12:03pm On Aug 11, 2017 |
laudate:https://en.wikipedia.org/wiki/Agbami_Field |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:54am On Aug 11, 2017 |
[quote author=deomelo post=59357190][/quote] Ignoramus read more about Ladol and SHI contract on Egina by Fidelis Odita, a Senior Advocate of Nigeria (SAN) and counsel to LADOL Total Upstream Nigeria Limited (TUPNI), which operates the Oil Mining Lease (OML) 130 block, had been given the required approval by the Nigerian National Petroleum Corporation (NNPC), regulators of the country’s oil industry, for the award of the main Engineering Procurement and Construction (EPC) contracts for the development of the multibillion-dollar Egina oil field, and Samsung, riding on the back of its partnership with LADOL, in compliance with the local content act, won the $3.1 billion contract in 2013. Samsung within the framework of Nigerian Local Content Laws, which require that the minimum content in that contract executed within Nigeria, found a suitable partner in LADOL, the first indigenous privately owned offshore logistics base operated in Taqwa Bay, where the FPSO integration and fabrication is to be done. “It was a joint venture in which Samsung was a senior joint venture partner and LADOL was the junior partner, Fidelis Odita, a Senior Advocate of Nigeria (SAN) and counsel to LADOL told Ventures Africa while the suit was ongoing. “They bided for and obtained the general contract, but as soon as they got it, Samsung wanted to appropriate the entity of the benefit following from that contract to itself to the exclusion of LADOL, which to put it mildly, is a show of bad faith.” Irked by Samsung’s ‘excuses’ following the award of the contract, Odita described the action as disgraceful, stressing, “they used LADOL to obtain what they wanted and as soon as they thought LADOL was no longer necessary for their operations, they tried to kick them out which is entirely improper and indeed disgraceful.” |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:38am On Aug 11, 2017 |
Obijackson is the most indigenous diversified and largest oil company in Nigeria, he is into pipeline construction, has largest dredging fleets in Nigeria, has one of the largest fabrication yards, best in aviation charter service in oil industry, best in horizontal drilling company in Nigeria with 100% success rate, also conventional drilling company, scorpion drilling, also owns largest oil blocks in Nigeria, Obijackson Group, one of the fastest growing business conglomerates in Sub Saharan Africa, has made vast investments in its operating divisions such as: Oil and Gas Exploration and Production, Pressure Vessel Fabrication, Power Generation, Dredging and Marine Logistics, Aviation, Civil and infrastructural construction and Real Estate. Obijackson Group employs over 1,500 people, with operations located across Nigeria, the United States of America and the United Kingdom.
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| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:21am On Aug 11, 2017 |
Scholes007:Exactly |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:20am On Aug 11, 2017 |
Current Agbami oil field production rate in OML 127 is 70,000 b/d, with estimated recoverable reserves of 900 million barrels far less than Aiteo's 2.2 billion barrel or NECONDE's OML 42 nearly 1 billion barrel reserve and both OML 29 and 42 produced above 250,000b/d in the recent past and still have the capacity to ramp up Partners involve in Agbami oil field are Chevron, Famfa Oil, Petrobras, Statoil, and NNPC In September 2015, Aiteo Eastern Exploration and Production (E&P) Company Limited, a subsidiary of Aiteo Group announced their acquisition of (OML) 29 and the Nembe Creek Trunk Line (NCTL), Aiteo has announced a peak production of 90,000 b/pd just one year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil block OML 29. |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 10:44am On Aug 11, 2017 |
laudate:Agbami Field is an oil field in Nigeria. Discovered in late 1998, it was the second major deepwater oil field discovered off the Niger Delta, the first being Bonga Field by Shell. [b]The field is located in nearly 1,500 meters (4,900 ft) of water off the central Niger Delta. The operator of the field is Star Deep Water Limited, an affiliate of Chevron. Also involved in the field are Famfa Oil, an indigenous oil company owned by the Alakija Family of Lagos, Petrobras (Brazil), Statoil, and NNPC (the national oil company of Nigeria) Production Production began in 2008 at over 70,000 barrels per day (11,000 m3/d) with peak production estimated to be at approximately 250,000 bls/d. The Floating Production unit is the length of three football fields and cost over $US4 billion to build. |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:16pm On Aug 10, 2017 |
deomelo:E-go.a...t I know you will not sleep well tonight  Aiteo, the document explained, has not only risen to be Nigeria’s largest indigenous oil producers with ownership and operation of petroleum storage facilities in Lagos and Port-Harcourt, including the Abonnema Storage Terminal with total capacity of over 110 million litres, the company also holds the second spot in petroleum products tankage in Nigeria.[/b] 2 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 11:07pm On Aug 10, 2017 |
https://newtelegraphonline.com/2017/04/local-oil-firms-walking-tight-rope/ Aiteo, an indigenous oil firm, made the headlines penultimate week; basking in the euphoria of its new status as the biggest Nigerian- owned oil firm in terms of production, hitherto known by many as the petroleum product trading firm, it announced the production of the largest share of the 313,602 barrels per day output from indigenous companies. The firm’s management cannot be blamed for flaunting its new status as the oil industry is battling with cash crunch and little or nothing was expected from the local firms who are the worse-hit by the crisis. Aiteo is not alone, a few other firms put up sterling performances, even though they still ranked far below the 77,000 barrels per day production figure of Aiteo . The sad aspect is that tens of indigenous firms are faced with bankruptcy while their productions are near to nothing. Investing in Nigeria’s future On April 1, 2015, the media was awash with news that the ownership of OML 29 had been formally transferred from Shell Petroleum Development Company (SPDC) to Aiteo Group. This information was dismissed by many industry watchers and stakeholders, considering that the divestment programme of the oil major, Shell Petroleum Development Company (SPDC), had not been without controversies and rumours of litigations. On the other hand, IOCs, which have indelibly etched their names in gold and local investors who play big globally had not only shown keen interest in the divestment offer, they had submitted seemingly irresistible bids to corner it. As such, Aiteo Group was not reckoned with by bookmakers. But a document by Aiteo revealed: “But with conviction in its impeccable track record of safe, reliable and environmentally conscious energy development and a clear vision for the future, Aiteo snapped up a 45per cent stake in one of Nigeria’s largest onshore oil blocks, in addition to the Nembe Creek Trunk Line, which marked a turning point in oil and gas business in Nigeria. Thus, Aiteo secured the potential to hold as much as 300 million cubic feet of gas and 2.2 billion barrels of oil. “From when they first indicated interest in the lease, the owners and managers of Aiteo Group were unmistakable about their commitment and bold ambition to be a major part of the world’s energy solution. The march towards that global vision was gradual, steady and without any publicity stunts. The leadership, management and staff of Aiteo rolled up their sleeves and went to work in silence. The result of those quiet efforts came out resoundingly when, a few days ago, Aiteo Eastern Exploration and Production Company Limited (AEEPCo) announced a peak production of 90,000 barrels per day less than one year into the operatorship of the reputedly largest onshore oil bloc OML 29. Agog with excitement hidden beneath journalistic curiosity, pressmen have lately turned the headquarters of the integrated energy company to a Mecca of some sort, as they besiege its officials to know how Aiteo has been able to break into the league of big players within such a short period. This is no mean feat when considering that SPDC could barely produce 23,000bpd prior to the divestment. “Top among Aiteo’s landmark achievements since its foray into the upstream sector is the production of 90,000bpd. In 2016, the company traded petroleum products worth over $11 billion. Only recently, it announced a further $4 billion medium-term investment aimed at boosting both gas and oil output by, amongst other tactics, bolstering infrastructure asset.” Aiteo, the document explained, has not only risen to be Nigeria’s largest indigenous oil producers with ownership and operation of petroleum storage facilities in Lagos and Port-Harcourt, including the Abonnema Storage Terminal with total capacity of over 110 million litres, the company also holds the second spot in petroleum products tankage in Nigeria. 2 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 10:53pm On Aug 10, 2017 |
deomelo:I guess you will understate Yoruba media better http://tribuneonlineng.com/aiteo-consolidate-fgs-2-5mbd-target-2020/ Aiteo to consolidate FG’s 2.5mb/d target by 2020 There are strong indications that leading indigenous oil companies may be ready to play vital roles in Federal Government’s aspiration to achieve its target of 2.5million barrels per day (mb/d) by the year 2020. According to the Economic Recovery and Growth Plan (ERGP) of the Federal Government, the nation plans to reach 2.2 million barrels per day (mb/d) output while also targeting 2.5mb/d by the year 2020. Currently, the country is producing an average of 1.8mb/p due to shut down of some oil installations like Bonga (maintenance), Forcadoes pipeline (militancy attack) and others. However, from all indications, one of leading indigenous exploration and production companies, Aiteo Eastern Exploration and Production (Aiteo E&P), a member of Aiteo Group, is set to consolidate its position and play a major role in achieving the target of 2.5mb/d by the federal government. Prior to the signing of Nigerian Content Act in 2010, most indigenous players were operating in service providers in the upstream space of the oil and gas sector. However, today, indigenous companies like Aiteo, Seplat, Oando and Newcross are dominant players in the upstream sector Infact, Aiteo, Eroton and Newcross collectively produced up to 200,000bpd in the fourth quarter of 2016. The trio took over assets worth $4.1billion from Shell, Total and Eni between 2004 and 2005. A figure of that size used to be attributed to the oil majors in the past. But that may not be the case for much longer, considering that the smaller players have been making strides to finance and increase the size of their portfolios. This is a revolutionary development considering that before now, the industry had been dominated by International Oil Companies (IOCs) listed by Forbes in 2016 as some of the biggest oil companies in the world. However, industry stakeholders opined that Aiteo is tipped to be one of the major players in the industry going by its antecedents. The company discovers, produces, stores and delivers energy resources to marketplaces worldwide, and is currently working on developing energy resources in some of the world’s most significant basins. According to a financial analyst, Patrick Atuanya, “I am optimistic about the prospects of indigenous players, particularly their tenacity in the face of challenging macro-economic headwinds. Aiteo is among the other indigenous players that will play a major role in helping the government to achieve its goal of 2.5mb/d by the year 2020; considering that the company just began full operations in May 2015. “Within that timeframe, it won the bid for the 45 per cent total interest in OML 18, previously held by oil majors Shell Petroleum Development Company, Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited. “It’s a remarkable feat for any indigenous Nigerian firm to be growing oil production amid the downturn in oil prices. Most majors have cut capital expenditure (capex) and written down the value of or sold assets for those heavily indebted. “With indigenous firms accounting for approximately 12 per cent of Nigeria’s 1.8million bpd total oil production, it means Aiteo Group is responsible for some 42 per cent of total indigenous production.” An Energy Analyst, James Udeme, stated that “indigenous operators were able to play dominant role in upstream sector because they have been able to poach top talent from IOCs and are excellently run. This has contributed positively towards increasing the percentage of Nigerian production coming from local operators.” The company’s main subsidiary, Aiteo Eastern Exploration and Production, operates on the resource-rich OML 29, which Aiteo acquired from Shell Petroleum Development Company in September 2015. At that time, production was around 23,000bpd. By October 2016, figures from the NNPC showed that production had risen by 300 per cent to 90,000bpd. Aiteo Eastern E &P also operates the 97km Nembe Creek Trunk Line, an evacuation pipeline that covers Nigeria’s eastern Delta region. It is Nigeria’s major onshore pipeline, with a capacity of 600,000bpd. 2 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 9:16pm On Aug 10, 2017 |
Omofunaab2:I love the minds game let us stick to our main discussions not fool.com.uk http://www.vanguardngr.com/2017/04/nigerias-indigenous-oil-operators-plan-increase-production-60-percent-2018/ Nigeria’s indigenous oil operators plan to increase production by 60 percent in 2018 On April 4, 20174:41 am output to hit 500,000bpd Indigenous companies in Nigeria have concluded plans to increase oil production by 60 per cent at end 2018. This is expected to increase their collective output from the current 313, 602 barrels per day (bpd) to 500,000 bpd in 2018. This will also enable them to increase their contribution to the nation’s daily output from 10 per cent to 20 per cent, leaving 80 per cent to the International Oil Companies, IOCs, that currently produce 90 per cent of Nigeria’s total output. Current output breakdown showed that Aiteo, Eroton, NPDC, Oriental, Seplat produce 77,000 barrels per day, bpd 54,000 bpd, 42,654 bpd, 24, 000bpd, and 21,881bpd respectively. Newcross, Midwestern, Belemaoil, Amni, Conoil, Niger Delta, Walter Smith and Erin Energy produce 20,000 bpd, 13,000 bpd, 12,000 bpd, 11, 000 bpd, 9, 130 bpd, 7,000 bpd, 5, 837 bpd and 5,000 bpd. Others – Energia, Moni Pulo, Prime Energy, Platform and Pillar Oil – also produce 4,500 bpd, 3, 200 bpd, I, 200 bpd, 1, 100 bpd and 1, 100 bpd respectively. Investigations showed that the companies have intensified efforts in developing their assets to produce more in future. The Managing Director of Energia Limited, Mr. Felix Amieyeofori indicated in an exclusive interview that Energia started as a consortium of leading Nigerian service and technology providers who came together with little cash but with great personnel, equipment and services to work, thus culminating to the production of first oil. “Energia currently has the capacity to produce 7, 000 bpd but is looking forward to producing 15, 000 bpd in near future, hopefully as we resume full production and injection through Forcados terminal. Generally, we would want to participate in bidding for new oil blocks once the bid is out. We would want to grow,”~ he stated. The Managing Director of the Niger Delta Petroleum Company Plc, Dr. Layi Fatona, disclosed that the company is currently producing 7, 000 bpd. He said that the company has done more, considering that it produces nearly 45mm Scf/d gas from the Ogbele Field, and about 10,000 bpd and 260 mm Scf/d of gas from the OML-34 JV. Fatona indicated that in the short term, the company plans to remain relevant in a nimble way, within the Nigerian exploration and production patch. He disclosed that as for the medium term, the company will like to become an attractive investment vehicle, which is able to grow with steady injection of new capital periodically for each of outlined phases of growth. Fatona said that the company would seek to develop existing portfolio of assets. He said that as for the long term, the company will in a sustainable way; evolve as a Pan African Integrated Energy Development company. Aiteo disclosed that is aggressively pursuing exploration and production. Africa is the next growth frontier and is central to our vision and ambitions for the future. The company indicated that it sees opportunities where others do not look, and employ expertise and innovation to turn opportunity into rewarding reality. It stated that the deep water basins off the shores of West Africa represent an important source of new oil at a time when many conventional sources are becoming more challenging to develop. The company noted that it may not be easy to realize the full potential of West Africa’s offshore fields, from the Niger Delta to the Benin Basin to the west, but the rewards for doing so are significant. According to Aiteo, deep water exploration is expected to take Nigeria’s proven oil reserves above 40 billion barrels by the middle of the decade, while retrieval of the valuable commodity could bring this figure back down to less than 28 billion barrels by 2021. “We aim to work tirelessly across the upstream market, in both exploration and retrieval, so that our future discoveries add to the known oil reserves of the African continent as a whole and support the oil industry for the long term, while our work to tap into already-known reservoirs of oil increases output in the short term, bolstering Nigeria and other African countries’ positions as world leaders in oil production.~ “Nigeria is Africa’s largest oil producer and, in global terms, ranks 11th, with an output of around 2.45 million barrels per day. However, an increase in output of 500,000 barrels per day could take it to 7th worldwide, ahead of Mexico and the United Arab Emirates; output growth of 1 million barrels per day would put it close to Canada with nearly 3.5 million barrels of daily oil production,” the company explained. But many problems may hinder, as Energia boss indicated that insecurity and militancy are major problems that constrain operations. He said that others include unstable oil price occasioned by shale oil and oil supply glut, inadequate funding, illiquidity, foreign exchange dilemma and delay in the passage of the nation’s Petroleum Industry Bill, PIB. The Managing Director of Seplat Petroleum Development Company, Mr. Austin Avuru, had predicted that the indigenous companies will also produce about 1.5billion Cubic Feet of gas daily in 2018. 2 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 9:09pm On Aug 10, 2017 |
http://www.vanguardngr.com/2017/04/nigerias-indigenous-oil-operators-plan-increase-production-60-percent-2018/ Nigeria’s indigenous oil operators plan to increase production by 60 percent in 2018 On April 4, 20174:41 am output to hit 500,000bpd Indigenous companies in Nigeria have concluded plans to increase oil production by 60 per cent at end 2018. This is expected to increase their collective output from the current 313, 602 barrels per day (bpd) to 500,000 bpd in 2018. This will also enable them to increase their contribution to the nation’s daily output from 10 per cent to 20 per cent, leaving 80 per cent to the International Oil Companies, IOCs, that currently produce 90 per cent of Nigeria’s total output. Current output breakdown showed that Aiteo, Eroton, NPDC, Oriental, Seplat produce 77,000 barrels per day, bpd 54,000 bpd, 42,654 bpd, 24, 000bpd, and 21,881bpd respectively. Newcross, Midwestern, Belemaoil, Amni, Conoil, Niger Delta, Walter Smith and Erin Energy produce 20,000 bpd, 13,000 bpd, 12,000 bpd, 11, 000 bpd, 9, 130 bpd, 7,000 bpd, 5, 837 bpd and 5,000 bpd. Others – Energia, Moni Pulo, Prime Energy, Platform and Pillar Oil – also produce 4,500 bpd, 3, 200 bpd, I, 200 bpd, 1, 100 bpd and 1, 100 bpd respectively. Investigations showed that the companies have intensified efforts in developing their assets to produce more in future. The Managing Director of Energia Limited, Mr. Felix Amieyeofori indicated in an exclusive interview that Energia started as a consortium of leading Nigerian service and technology providers who came together with little cash but with great personnel, equipment and services to work, thus culminating to the production of first oil. “Energia currently has the capacity to produce 7, 000 bpd but is looking forward to producing 15, 000 bpd in near future, hopefully as we resume full production and injection through Forcados terminal. Generally, we would want to participate in bidding for new oil blocks once the bid is out. We would want to grow,”~ he stated. The Managing Director of the Niger Delta Petroleum Company Plc, Dr. Layi Fatona, disclosed that the company is currently producing 7, 000 bpd. He said that the company has done more, considering that it produces nearly 45mm Scf/d gas from the Ogbele Field, and about 10,000 bpd and 260 mm Scf/d of gas from the OML-34 JV. Fatona indicated that in the short term, the company plans to remain relevant in a nimble way, within the Nigerian exploration and production patch. He disclosed that as for the medium term, the company will like to become an attractive investment vehicle, which is able to grow with steady injection of new capital periodically for each of outlined phases of growth. Fatona said that the company would seek to develop existing portfolio of assets. He said that as for the long term, the company will in a sustainable way; evolve as a Pan African Integrated Energy Development company. Aiteo disclosed that is aggressively pursuing exploration and production. Africa is the next growth frontier and is central to our vision and ambitions for the future. The company indicated that it sees opportunities where others do not look, and employ expertise and innovation to turn opportunity into rewarding reality. It stated that the deep water basins off the shores of West Africa represent an important source of new oil at a time when many conventional sources are becoming more challenging to develop. The company noted that it may not be easy to realize the full potential of West Africa’s offshore fields, from the Niger Delta to the Benin Basin to the west, but the rewards for doing so are significant. According to Aiteo, deep water exploration is expected to take Nigeria’s proven oil reserves above 40 billion barrels by the middle of the decade, while retrieval of the valuable commodity could bring this figure back down to less than 28 billion barrels by 2021. “We aim to work tirelessly across the upstream market, in both exploration and retrieval, so that our future discoveries add to the known oil reserves of the African continent as a whole and support the oil industry for the long term, while our work to tap into already-known reservoirs of oil increases output in the short term, bolstering Nigeria and other African countries’ positions as world leaders in oil production.~ “Nigeria is Africa’s largest oil producer and, in global terms, ranks 11th, with an output of around 2.45 million barrels per day. However, an increase in output of 500,000 barrels per day could take it to 7th worldwide, ahead of Mexico and the United Arab Emirates; output growth of 1 million barrels per day would put it close to Canada with nearly 3.5 million barrels of daily oil production,” the company explained. But many problems may hinder, as Energia boss indicated that insecurity and militancy are major problems that constrain operations. He said that others include unstable oil price occasioned by shale oil and oil supply glut, inadequate funding, illiquidity, foreign exchange dilemma and delay in the passage of the nation’s Petroleum Industry Bill, PIB. The Managing Director of Seplat Petroleum Development Company, Mr. Austin Avuru, had predicted that the indigenous companies will also produce about 1.5billion Cubic Feet of gas daily in 2018. 3 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 9:03pm On Aug 10, 2017 |
laudate:This is your first post which I captured, you then cut out your source fool.com.uk 1 Like
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| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 8:57pm On Aug 10, 2017 |
[quote author=laudate post=59349479][/quote]  I was faster than you, ok after your first post that included your source, you now cut your source for me not to see 1 Like 1 Share
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| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 8:49pm On Aug 10, 2017 |
laudate:Afonjas no go kill person just imagine your source according to fool.com.uk 2 Likes
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| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 7:48pm On Aug 10, 2017 |
deomelo:I know you are too dumb to remember the genesis of your argument  Let me remind youlaudate:Oboy what is current production output pd from those companies you listed not estimated value your people are noise makers,On Ladol , I once worked with NAPIMS at Bayokuku Ikoyi office, I have visited LADOL several times and I know the slim lady in charge, one thing with your people you make loudest noise when you achieve little, you can't compare Ladol to oilserv, Nesthak, chrome group in oil servicing, stop deceiving yourselves from what Lagos medias are feeding you The FPSO vessel fabrication and integration facility- currently being operated by SHI-MCI FZE, it's a joint venture between Samsung Heavy Industries and LADOL's shipyard operator, Mega-Construction and Integration FZE. Nigeria’s indigenous oil operators plan to increase production by 60 percent in 2018 Current output breakdown showed that Aiteo, Eroton, NPDC, Oriental, Seplat produce 77,000 barrels per day, bpd 54,000 bpd, 42,654 bpd, 24, 000bpd, and 21,881bpd respectively. Newcross, Midwestern, Belemaoil, Amni, Conoil, Niger Delta, Walter Smith and Erin Energy produce 20,000 bpd, 13,000 bpd, 12,000 bpd, 11, 000 bpd, 9, 130 bpd, 7,000 bpd, 5, 837 bpd and 5,000 bpd. Others – Energia, Moni Pulo, Prime Energy, Platform and Pillar Oil – also produce 4,500 bpd, 3, 200 bpd, I, 200 bpd, 1, 100 bpd and 1, 100 bpd respectively. Aiteo emerges Nigeria’s leading oil & gas company with record 90kpod output in 1 year https://www.orientenergyreview.com/aiteo-emerges-nigerias-leading-oil-gas-company Read more at: http://www.vanguardngr.com/2017/04/nigerias-indigenous-oil-operators-plan-increase-production-60-percent-2018/ 3 Likes 1 Share |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 7:41pm On Aug 10, 2017 |
laudate:All these afonja E-go..a..ts. finding way out 2 Likes |
| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 7:36pm On Aug 10, 2017 |
KAZTECH fabrication yard snake island 100% indigenous, founder Sir Emeka Offor https://www.youtube.com/watch?v=Hg0vuWpO3nc As part of the efforts to support the government in the development of local capacity in the Oil and Gas industry, KAZTEC Engineering Limited, a wholly indigenous Oil and Gas service company, is investing $800 million its fabrication yard on the Snake Island in order to boost local content development in the sector .Already, about $600 million has been invested on the project. The first phase of the project has gulped about $300 million while phase two would take about $450 million. The workforce is to increase to 1500 at the peak of construction and fabrication exercise in the nearest future. Marc Robillard, commercial director for KAZTEC Engineering Ltd disclosed this while briefing Patrick Daziba Obah, executive secretary of the Nigerian Content Monitoring Board, NCMDB, who visited the company site on the island for physical siting of what the company is doing. He told the visiting NCMDB officials that the management plans to build a world-class fabrication yard that would not serve only the interest of the oil and gas industry but other sectors of the economy such as construction industry. “This visit is a facility visit we were invited by KAZTEC and in our own tradition, whenever we embark on such visitation, we invite the OICs, who sends in their Nigerian content staff to represent them to see such facilities. Patrick Daziba Obah in an interview after the visitation said that it afforded his organisation to take stocks of the activities of the fabrication company. He commended KAZTEC for its ability to do what it has been able to do so far to enhance local content development, saying that if it can continue on its current part, it would be a matter of time for such an indigenous company to greatly expand the participation of Nigerian participation in the highly technical petroleum industry. “With the knowledge the staff have acquired over the years, they have been able to build those things that we saw at the site. With the visitation we now begin to appreciate what Nigerian companies can do in- country. This fabrication yard is a testimony of what Nigerian indigenous companies can do. What we have witnessed in KAZTEC is a testimony and it means Nigerians can do a lot and meet the world standard in terms of oil and gas industry,” he said. He appealed to Nigerians that whatever leakages that exist in oil and gas industry should be sealed so that more jobs can be created because a lot of fabrication yards are dying of lack of jobs, “ if we sit down and begin to add some coloration, then of course the situation would remain the same.” The NCMDB boss stated that what is needed now is to tell people that we have fabrication yards that can build things to world-class specifications. “But going forward, we must expand the frontiers of the local content to other sectors so that there could be more jobs. For instance, the construction industry make use of structured materials and if they patronise the fabrication yards like this, KAZRTEC and other yards would be very busy.” 3 Likes 1 Share
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| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 7:28pm On Aug 10, 2017*. Modified: 7:50pm On Aug 10, 2017 |
deomelo:You are plan ignorant serious, Egina fabrication yard is a joint venture between SHI and ladol as local content partner, this is ladol website and point of correction it's $300 million not $3.4 billion you claimed http://www.ladol.com/ladol-and-samsung-heavy-industries-in-300m-investment LADOL and Samsung Heavy Industries in $300m investment In a development that both the Chairman and founder Chief Oladipo Jadesimi and Managing Director Dr. Amy Jadesimi described as “game-changing”, LADOL and Samsung broke ground on a $300m state-of-the-art facility, Africa’s first and largest vessel fabrication and integration facility. It was groundbreaking for the Nigerian petroleum industry in more ways than one, according to Dr Jadesimi. The wealth and income created for the country is no longer contained solely in the oil itself, but in the world class services around the extraction of it. “It shows that for the first time Nigeria is seriously entering the lucrative upsteam oil and gas development value chain.” “This represents a real opportunity for Nigeria to earn as many oil and gas dollars from its engineering, services and manufacturing as it does from oil and gas exports. As these activities have greater capacity for job creation, it will inevitably lead to sustained economic growth and poverty reduction.” 2 Likes
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| Politics › Re: Igbos Most Industrious, Innovative and Richest Tribe In Africa see proof by FKO81(op): 6:56pm On Aug 10, 2017 |
deomelo:Dodomayana, Ladol is indigenous oil servicing firm, but not among top 10 oil servicing firms in Nigeria, we are talking about Egina vessel fabrication and integration facility currently being operated by SHI and Ladol as local content partner 2 Likes |
You have very little knowledge of the oil industry, and the companies whose assets you are trying to use to score cheap points. You are using an outdated document to try and look good. Unfortunately, you have shot yourself in the foot again.