Oil and Gas

Nigeria’s active oil rig count remains low

The number of active oil rigs in Nigeria rose in October by one to 28, compared to 38 in January 2015, data from Baker Hughes Incorporated and the Organisation of Petroleum Exporting Countries showed.
It rose to 26 in February this year from a record low of 23 in December last year.
The reduction in the rig count was mostly triggered by the slump in global crude oil prices since mid-June 2014 as oil companies were forced to slash their capital budgets and suspend some projects.

SPDC renews Afam Power Plant licence for 10 years

The Nigeria Electricity Regulatory Commission has renewed the power generation licence for Afam VI Power Plant, a 650MW-capacity facility that has delivered over 25.97 million Megawatt-hour (MWh) of electricity into the Nigerian grid since inception in 2008.
Afam VI is owned by The Shell Petroleum Development Company Joint Venture (SPDC JV) and located in Afam in Oyigbo Local Government area of Rivers State.

NNPC secures $3.7bn alternative financing

The Nigerian National Petroleum Corporation has secured a total of $3.7bn in Alternative Financing Agreement in the last three years, Group Managing Director of the Corporation, Dr. Maikanti Baru has said.
Dr. Baru, who made this known while speaking at the 35th Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos on Wednesday, said securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of Nigeria’s energy future.

Service coys get training on upgraded NOGIC JQS

Ahead of the February 2018 deadline to digitalize core operations and eliminate paper applications, the Nigerian Content Development and Monitoring Board (NCDMB) recently organized trainings for personnel of service companies on the use of the upgraded NOGIC JQS platform.
The one day intensive training ran consecutively for five days in Yenagoa, Bayelsa State and drew several participants. Operating companies had their sessions earlier in Port Harcourt, Rivers State.

Lagos Oilfield partners in talks to resolve legal dispute

A Norwegian independent exploration and production company and one of the partners in Aje oilfield located in Oil Mining Lease (OML) 113, Panoro Energy, has stated that the partners in the Lagos oilfield had commenced negotiations to resolve their legal dispute.
Panoro Energy had dragged the other partners to the London court, and had also filed a request for arbitration with the secretariat of the International Chamber of Commerce.

NNPC completes 539km gas pipeline projects

THE Nigerian National Petroleum Corporation (NNPC), on Tuesday, said it had completed, commissioned and delivered 500 kilometres  of gas pipelines from 2010 to date, as part of an aggressive expansion of gas pipeline infrastructure across the country. 
According to a statement in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, stated this in Abuja at the 2017 Conference and Annual General Meeting of the Nigerian Society of Engineers, NSE.