News
Shell Sells Stakes In N’Delta Oil Leases
The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell Plc (Shell), Wednesday completed the assignment of its 30 per cent interest in two oil mining leases and related facilities in the Niger Delta. Total cash proceeds for SPDC amount to some $488million.
These divestments are part of Shell’s strategy of refocusing its onshore interests in Nigeria and in line with the Federal Government’s aim of developing Nigerian companies in the country’s upstream oil and gas business.
“As we refocus our portfolio we are strengthening our position for the future,” said Peter Voser, Chief Executive Officer of Royal Dutch Shell plc, adding that, “the improvement in the security situation in the Niger Delta coupled with continued progress on key projects provides the foundation for further investment and growth.”
Shell has been in Nigeria for more than 50 years and remains committed to keeping a long-term presence there both onshore and offshore. Through SPDC and its other Nigerian companies, it responsibly produces the oil and gas needed to fuel the economic and industrial growth that generates wealth for the nation and jobs for Nigerians.
A statement yesterday, signed by Tony Okonedo, Shell’s corporate media relations manager quoted the Chairman, Shell Companies in Nigeria, Mutiu Sunmonu, as saying that, “SPDC is re-positioning for growth,” stressing that, “in focusing its operations, SPDC is set to continue its role at the forefront of Nigeria’s oil and gas industry development.”
According to the SPDC managing director, with the support of the Nigerian government and other partners, SPDC will continue to look for investment and growth opportunities while supporting the aspirations of the nation and the Nigerian people.
Oil Mining Lease 26 was assigned to the Nigerian company FHN26 Limited, an affiliate of Afren plc, for $98 million (SPDC share).
Oil Mining Lease 26 covers an area of some 480 square kilometres and is currently producing around 6,000 barrels of oil per day (100 per cent) from two fields.
Oil Mining Lease 42 was assigned to Neconde Energy Limited, a majority Nigerian-owned consortium consisting of Nestoil Group, Aries E&P Company Limited, VP Global, Kulczyk Investments and Kulczyk Oil Ventures, for some $390 million (SPDC share).
OML 42 covers an area of some 814 square kilometres and includes the Batan, Egwa, Odidi, Jones Creek fields and related facilities.
Operations had been shut down because of militant activity, but production from the Batan field resumed earlier this year and is currently producing circa 15,000 barrels of oil per day (100 per cent).
Total E&P Nigeria Limited (10 per cent) and Nigerian Agip Oil Company Limited (5 per cent) have also assigned their interests in both leases, ultimately giving the buyers a 45 per cent interest.
All approvals have been received from the relevant authorities of the Federal Government and the Nigerian National Petroleum Corporation.
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
