₦airaland Forum

FKO81:
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.

You have just shot yourself in the foot. Oya, list all the different wells that make up Agbami oil field, and list the name of the owners, too. No one is arguing about the percentage that Statoil & Petrobras owns in their OML 128/OPL 217 located within Agbami. We were talking about Famfa Oil, remember, and its ownership of OML 127? But you are here trying to make it look as if Chevron is the owner of all the different oil wells and OML leases within Agbami, when what it only has is an operating interest, in it.

Calculate all these percentages and tell us what the final sum would be: Statoil (20.21% interest), Chevron has (67.30%), and Petrobras (12.49% interest).

Please go back and read this part again from the same online publication that you cited up here:

The $3.5bn Agbami oilfield project is Nigeria's largest deepwater development. The field lies in OPL blocks 216 and 217, approximately 220 miles south-east of Lagos and 70 miles offshore Nigeria, in the central Niger Delta.

In late 1996, Texaco and Nigerian independent oil company Famfa were granted exploration rights to the 617,000 acre block 216. Agbami was proven in this block by Texaco in 1998 and two years later Statoil's Ekoli-1 well confirmed that the discovery extended into block 217.

Development of the field was unitised between the two blocks. Chevron Corporation (Chevron) has a 68.15% interest and operates the field through its Nigerian affiliate, Star Deep Water Petroleum. The remaining working interests are held by Statoil (18.85%) and Petrobras (13%).

The field is owned by the terms of a deepwater production-sharing contract (PSC) between Chevron and Famfa. http://www.offshore-technology.com/projects/agbami/

Do you even understand what is meant by unitising the development of an oil field between 2 blocks??

FKO81:
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

Provide the list of Top 10 oil Servicing Firms here, so we can read it and verify! Include the criteria used for judging them as the top 10! Every correct answer gets 20 marks.

Scholes007:
where did I say that? Ladol was about to be played but thanks the fg n her policy.

Oh you didn't say it? My bad. But you agreed with your clueless brother that said it, not so?

FKO81:
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.

Do you know your problem? You take half of the information that is available, and then you run with it, forgetting that the other half of the info., is just as critical & as important as the 1st half. Do you even know what a subsea development system is?

I have explained to you that Agbami oil field consists of 2 different OMLs, that are owned by different companies. Not only that, it is believed that many untapped oil wells still exist within the Agbami oil field. Chevron is not the owner, but the operator. Now, in exploration & production circles, can you explain the difference between an operator, an owner or concessionaire and a financier?

Do you realise that Chevron too has an interest in the FPSO being used in that Agbami oil field? Are you aware that Chevron's operating interest covers both OML127 AND OML 128? Do you realise that the 67.15% operating interest that Chevron has is just restricted to OML 128 jointly owned by Statoil & Petrobras? In OML 128 Statoil has 18.85%, Petrobras has 13% while Chevron has 67.15 %. Add all these together, and it accounts for the 100% shareholding in OML 128! Please go back & do your research so that you do not look stuvpid.

StOla:
Don't worry, I don't need to claim what is already mine.

But the same federal government makes so much money from Lagos.

Like all other states, Lagos state got federal allocations to use for its own good.

Has Lagos State collapsed since the capital moved to Abuja?

Capital or not, oil money or not, Lagos was favoured by nature to be great, so the greatness before oil will continue even after oil.

And nobody has denied that Lagos/Eko and not Lagos State was a satellite kingdom of the Benin Empire. But the native inhabitants have and will always be Yoruba.

That same Lagos/Eko is less than 15% of the present size of Lagos State created from the Western Region in 1967.

You are so right, bro.' May Lagos continue to be great!

PrecisionFx:
'' Nnewi, with a little over two million residents,''

Mbanu bros, not 2 million.

What is the correct estimate?

sangresan:
That gal has a problem...And I have noticed that some folks easily turn issues into ethnic debates.
The piece was poorly written....When you are making allusions to wealth,you have to give an estimation...

True!

cstr1000:
Sorry, i don't respect you one whit.
You can't give useless, ignorant and tribalized posts like yours and expect me to answer you like a professor.
If you want to be tribalistic, then base it on irrefutable facts like i do.

Please when did I ever ask for your respect? What makes you think you are that important? I merely pointed out that you lacked the ability to disagree constructively, with someone who does not share your viewpoint. Now, if you have nothing of value to add to the topic at hand, kindly swerve and stop alleging tribalism just because someone chose to disagree with your perspective.

Ikechuob:
It's not they behave like people with inferiority complrx. They do have inferority complex. It's not just igbos they do it to, they do it to everyone. It's pathetic as well!!!!!

Heck didn't the coward yoloba wey claim himself as non yoruba aka laudate classify the author as Igbo simply because his acute inferiority complex just couldn't fathom how a non igbo would not follow his yoloba propaganda. Worst trying to discredit the author by accusing him off poor research yet can't produce not one single evidence to accuse him of poor research other giving us a yoruba name and claiming the yoruba was richer than ojukwu yet nothing to support it other him and other yoloba saying it. Another providing a blog and others quoting articles and immediately they dismiss it because it's "Nigerian news article" . Truly truly pathetic as hell.

Reading their cries is just hilarious as Bleep. They should expand the cries to Forbes as well.

Your rants are not just ridiculous, but totally pathetic. If you were not so pained by the comments that were made, you would not have embarked on this long, meaningless rant. And if my own comments had not upset and rattled you so much, you would not have mentioned my moniker, especially since I did not direct any of my posts to you. Yes, I mentioned the fact that the writer did not do adequate research on the subject, before it was published. Why does it offend you so much? Was it because he was called an Igbo writer? Is it derogatory to call a journalist, an Igbo writer?

Finally, there are over 250 ethnic groups in Nigeria. Unfortunately, you have been programmed to regard anyone who does not share your point of view, as a Yoruba man. So kindly provide solid, incontrovertible proof to show that Laudate is Yoruba. While you are at it, please provide the name of his village, local govt area and traditional ruler. Every correct answer gets 20 marks.

cstr1000:
So i am expected to take the words of a backward illiterate filthy yoruba dingbat over Forbes Africa?
When you ponder over that question, then hopefully, you can see the depth of your inanity.
Btw, you claim to be from edo state? Wetin concern you? Are you suffering from stockholm syndrome?
Do you have any proof that your tribalist yoruba friend is correct and a forbes writer backed by forbes legitimacy and research dept is wrong?
Which tertiary institution did you attend? I am assuming you went to school.

Obviously, people like you have not been taught how to disagree politely with people, without being disagreeable or engaging in name-calling.

Firstly, If a person has a superior logic to your own, or better facts at his disposal than you do, doesn't it make sense to adopt that logic or adhere to those facts? Now, if you are suffering from Stockholm's syndrome, since you alluded to it, I suggest you seek help to treat your condition before it is too late.

Secondly, what makes you think that all writers are infallible? Aren't they human beings that could make mistakes in their research and articles?

Finally, I am not Edo, and I do not know what gave you that idea. Kindly provide solid, incontrovertible proof to show that Laudate is Edo. While you are at it, please provide the name of his village, local govt area and traditional ruler. Every correct answer gets 20 marks.

obiezed:
LOLl,you went from trying to discredit the post to Eromo egbejule is Igbo to trying to discredit Forbes editorial team,all to prove what??,that you are a miserable butthurt gimp.and I was even begging amarabae to take it easy on you.okay,carry in with your tomfoolery and have a miserable life.

I never discredited Forbes magazine. So stop telling cheap lies in a bid to score cheap points. I suggest that you go back and read all my posts, with an open mind. The only thing I questioned was the quality of Egbejule's research, which had some errors in it. That piece could have been written much better than it was, if only he had taken the pains to carry out better research.

Now, instead of wallowing in hate by telling us your middle name is "miserable butthurt gimp," I suggest you actually take time off to do something meaningful with your life, by learning how to read properly and arrive at the right conclusion, instead of engaging in petty propaganda that makes you look ridiculous. Thanks.

OMANBALA1:
You are a demonic tribalistic goat that should be burnt with hot boiling oil. You are a wicked soul...If this thread was done for the Yoruba you won't be here finding incriminating details. Your life is a piece of sorry !

Guy, it is obvious that you have some deep-seated psychological issues, that is causing you to rant on this thread. Anyway, thanks for letting us know that you are nothing but a "demonic tribalistic goat that should be burnt with hot boiling oil.." You also called yourself a "wicked soul." Accept my sympathy. Those who did this to you shall get their just reward. Ndo.

https://deltatekgroup.com/img/globe_2.jpg

Akinwunmi Odumakinde began his career with Chevron Refinery, Richmond, CA, USA where he was engaged as Summer Chemical Engineer between July and September 1987. He then left for Dow Chemical, Pittsburgh, CA, USA as Research/Process Engineer between July and December 1988, and also worked with Arco Oil & Gas, Bakersfield, CA, USA as Operation/Analytical Engineer between June 1990 and May 1994.

But his determination to succeed, and further pursue the cause of local capacity building, made him return to Nigeria, where he floated a company called DeltaTek Engineering Limited. The success of DeltaTek Engineering Limited in the Nigerian Oil & Gas Industry today, under his able leadership led to his pioneering the formation and operation of companies like DSV Pipetronix Limited where he served as Vice President, Operations; DeltaTerratek, another company he founded; Prime Atlantic, where he serves as Director and DeltaAfrik Engineering Limited (a Joint Venture Company between DeltaTek and WorleyParsons) where he is currently the Managing Director. He combines experience, creativity, and proven management skill with sound business sense to deliver excellence in these positions.

https://impactyourworldng.org/academy/wp-content/uploads/2016/05/Akinwumi-Odumakinde.jpg

The successful technical partnership of his company, DeltaTek with a renowned Worldwide Engineering Design Company, WorleyParsons has attracted Foreign Direct Investment (FDI) of over 80 million US dollars leading to the formation of a new JV called DELTAAFRIK (which is 51 percent and 49 percent owned by DeltaTek Engineering a 100% indigenously owned company and WorleyParsons) respectively.

This has ultimately led to the creation of good paying employment opportunity for over 600 Nigerians in this sub-sector. DeltaAfrik has since repositioned and is one of the leading Nigerian Design Engineering, Procurement and Construction Management Companies in taking advantage of the Nigerian Content Act of the Nigerian Government, the fulfillment of the ambition of a right thinking Nigerian.
He has handled projects worth over $1Billion for major JV operators such as Chevron, Addax, Total, Exxon Mobil and other companies. http://impactyourworldng.org/academy/akinwumi-odumakinde/

All the listed subsidiaries including Delta Afrik are part of the Delta Tek Group which is run by Odumakinde. The company has offices in Nigeria, Ghana, Equatorial Guinea, Sierra Leone, Angola, Mozambique and USA.

https://deltatekgroup.com/img/serv11_.jpg

https://deltatekgroup.com/img/BAY%20New.jpg

XKZ:
You're the one who seems to be pushing a perspective
And your summary conveniently ignores Forbes and its editorial policy
Any how enjoy yourself

No, sir. You are the one bent on twisting my comments into a form, that supports your own narrow warped perspective, by using a skewed interpretation. I have already given you my views about Forbes editorial policy. Now, here you go. You can have the floor.

obiezed:
My level of reasoning shouldn't be your problem,I wasn't talking to you either,LOL,so who is childish and clueless now ??,amarabae,please continue pouring iodine on this Blockhead's butthurt.he wimpers exquisitely.

Weren't you the one who copied my post while addressing your remarks to someone else? What were you trying to do? Show how clueless and childish you truly are? Anyway, thanks for letting us know that you only know how to whimper.... Keep it up.

XKZ:
You said, in black and white, that Forbes has an editorial policy
You also said, in black and white, that an article published by Forbes was poorly researched and is a fluffy PR piece

How else should your post be summarised?

My post should be summarised thus: "Errors such as the one the writer made, turned an article that could have been a well-researched intelligent record, into a fluffy PR piece." Now, is that too hard for you to understand, or do you still feel the need to twist it to suit your own selfish, hypocritical perspective?

Scholes007:
like I said earlier LADOL is just a host which another indigenous firm can be. There is nothing exceptional about them as you had portrait earlier.
The project which has been applauded as first -of- its- kind in the sub-Saharan Africa is being handled by the Korea-based Samsung Heavy Industries (SHI) on behalf of Total Oil Exploration, with LADOL serving as its local content partner. He said the indigenous oil and gas logistics service provider is a testimony of the success story of local content laws in Nigeria. https://www.thisdaylive.com/index.php/2017/03/10/ncdmb-to-flag-off-egina-project-in-q4-applauds-ladol-compliance-to-local-content/

Guy, you had earlier said that Samsung did not carry out the project with Ladol. I reminded you that Ladol took Samsung to court, appealed to the Federal Govt and got the project back, because Samsung violated the Local Content Act.

Then you turned round to say that Samsung could execute the project without Ladol, or any local firm. I pointed out to you that it was not possible, in view of the Local Content Act which made it imperative for them to partner with a local company.

Now you are turning round again to twist the matter in another direction, by saying that Ladol is just a host which any other local company can be. Well, with the complexity of the requirements, structure, equipment, machinery & expertise needed to drive the project, there are very few companies who could have acted as the host, for this project. Now, Ladol has been given the contract, and is currently executing it. Kindly deal with it!

mofewilkie:
https://en.m.wikipedia.org/wiki/Henry_Fajemirokun
read this article, you'll realize that Fajemirokun only entered private business in 1955 ( he even took a loan).
This was 3 years after Queen Elizabeth visited.
It's logic

You answered the first part of the question. Now answer the 2nd part. In what particular year did Louis Ojukwu buy his Rolls-Royce, assuming he had one?

XKZ:
To summarise your post – Forbes has an editorial policy that encourages poorly researched articles and fluffy PR pieces...

Is that what you read in black & white in my post, or are you just being mischievous or hypocritical, and you want to put that spin on it? Which one?

obiezed:
Amarabae,I gbugo anumpama,biko jie nwanyoo,nwannem.
He had to go dig out the whole owner ship info of Forbes.pepperdem,lol.

Wow! And you just had to dish out this childish, clueless response. Now, why am I not surprised? It shows the level of your reasoning.

XKZ:
Are you saying Forbes doesn't have an editorial policy? No standards?
Any Mass Comm graduate can have an article published there? like Nairaland?
Doesn't the fact that they published it mean they endorse it?
If someone has genuine grounds to question the article who would he sue?
And if an apology or retraction is due who would be responsible?

Nobody is saying that Forbes does not have an editorial policy. What is being said is that the writer failed to do adequate & comprehensive research on certain aspects of his article, before going to press. Was the article libellous? No. So nobody is going to sue. But errors such as the one the writer made, turned an article that could have been a well-researched intelligent record, into a fluffy PR piece.

mofewilkie:
Sorry, i meant Henry. Louis Ojukwu sha had a rolls royce before he started business. Therefore, your claims are false

False, in what way? What year did Henry Fajemirokun buy his Rolls Royce, and what year did Louis Ojukwu buy his own, since you claim he had one?

Amarabae:
Eromo Egbejule is likely a name from Bendel region(either Urhobo, Isoko or Edo state).
It is Never an Igbo name.
Finally, no amount of gnashing of teeth and painment will change these writeup stamped by FORBES.
So cry us a River, you are the one obviousely pained.

Hehehehe..... madam, you are the one crying here. Everyone can see it! See how you just confessed that you have been "gnashing your teeth," and suffering "painment.' Eeyah, accept my sympathy. Otherwise, you would not have made allusions to such emotions, if you had not been suffering from such feelings yourself. Now, try to get over it before you do yourself an injury, as you do not have proof to support your claims. Thank God, everyone can read. And they all know that articles published in Forbes, are not written by Forbes itself, but by various journalists.

For your information, Forbes Magazine is published by Forbes Publishing Company, an arm of Forbes Media LLC.

Amarabae:
answer me and don't divert the topic.
Is Eromo Egbejule an Igbo name? Yes or No.
Your Painment is an entertainment in this thread.
Forbes is a worldwide respect and well read Organisation,
It is more acceptable and chosen than your ibadan media.
So cry me a river.
The era you people controlled Nigeria media is gone.
Your propagandas are being bursted left and right.

Madam, if Egbejule is not an Igbo name, then kindly tell us what part of Nigeria bears that name. Is it an Efik name or an Igala name or a Kanuri name? Forbes relies on writers to supply it with stories. Or does Forbes manufacture stories from thin air? Are there robots who insert those stories inside Forbes? There are no lies or propaganda anywhere. Such traits are the stock in trade of your people.

Madam, if you must argue, please do so like an educated person and not an ignorant one. Even a primary school pupil, knows that newspapers and magazines rely on journalists to supply them with stories. The argument is not about whether Forbes published it or not, but who wrote the story. The fact that you are spewing insults left and right shows how pained you are. Try to get over it. Thanks.

Rapture4real:
Is Evans not from Nnewi?

What a question!

mofewilkie:
But Sir Louis Ojukwu actually had a rolls royce, and the queen used it... in addition, Dele only started his private business in 1955, 3 years after the queen (1952) rode in Sir Ojukwu's rolls royce. Meaning that Ojukwu who was about 20 years older than Fajemirokun was already wealthy before Fajemirokun started business.

We are so blinded by ethnicity and tribalism, that we use every little opportunity to pull eachother down.
May God save us.

Guy, nobody is making reference to Dele Fajemirokun. They are talking about his father Henry Oloyede Fajemirokun, who was a multimillionaire many years ago.

Amarabae:
Igbo writer?
Gosh what kind of hate filled bitots am I dealing with?
Forbes wrote that,
deal with it.
And btw Oromo Egbejule are NOT IGBO NAMES.

Forbes is a magazine. It does not research, and produce content by itself. Its' stories are supplied by writers from different parts of the world. In this case, the particular story under reference was written by Eromo Egbejule, (who is an ex-writer for The Guardian Newspaper in Lagos) and published in the magazine called Forbes. Deal with it. Or is that too difficult for you to understand?

IgboticGirl:
u are so pained by this news ...and i love it

How can I be pained, when all the pain is coming from your own people on this thread? Can't you see all their comments? Hehehehe....

obiezed:
You have confirmed your retardedness,so EROMO Egbejule is an Igbo name,well done there.

Oh, is it a Kanuri name? Or a Yoruba name? Or an Igala name? What does Egbejule sound like to you?

vonxe:
profile sam and sara

confirm if delta afrik is owned by an omoluabi, a colleague did his IT there in 2009. Also confirm if it is still up and kicking

Sam and Sara have already been profiled on page 47. Delta Afrik is very much alive and kicking. They opened a new massive head office complex in Lekki area of Lagos, just 2 years ago. It is actually a subsidiary of a foreign firm. The MD of the Nigerian arm is Akin Odumakinde.

Update: Sorry, just got more info. Delta Afrik was actually set up by a Yoruba man, Akin Odumakinde. They now have offices in other African countries as well as about 5 other subsidiaries. One of their firms is actually a partnership, with a foreign firm called Worley Parsons. My bad.

StOla:
Don't worry, I don't need to claim what is already mine.

But the same federal government makes so much money from Lagos.

Like all other states, Lagos state got federal allocations to use for its own good.

Has Lagos State collapsed since the capital moved to Abuja?

Capital or not, oil money or not, Lagos was favoured by nature to be great, so the greatness before oil will continue even after oil.

And nobody has denied that Lagos/Eko and not Lagos State was a satellite kingdom of the Benin Empire. But the native inhabitants have and will always be Yoruba.

That same Lagos/Eko is less than 15% of the present size of Lagos State created from the Western Region in 1967.

Don't mind him. He does not know about the Aworis, who were the original indigenous inhabitants of Lagos, long before the Bini people came calling, on their expeditions. He remains ignorant of the Egun people, who are Lagosians by virtue of the fact that their ancestral home in Badagry, lies within Lagos State. He is also clueless about the Saros, Amaros, Agudas etc., who were the Afro-Brazilian returnees with Yoruba origins, that made Lagos their home after the slave trade was abolished. They were all native inhabitants of Lagos.

stanluiz:
Forbes is now an Igbo media bro you are an illiterate.

I made reference to the person who wrote that piece for Forbes. It was written by Eromo Egbejule, an Igbo guy. Nobody said anything about Forbes being an Igbo media. Am sorry to say this, but you are an ignoramus! Do you now want to lay claim to Forbes too, in the same way your people have been laying claims to Lagos?