Rivers

Transcorp Acquires 45% OML 17 From Shell, Total, Eni

Published

5 years ago

January 18, 2021

Heirs Holdings (HH), an affiliate of Transnational Corporation of Nigeria Plc (Transcorp) has acquired 45 per cent participating interest in Nigerian oil licence OML 17 from Shell Petroleum, Total and ENI.
The OML 17 comprises oil fields in Etche, Ikwerre, Obio/Akpor and Oyigbo local government areas of Rivers State.
This is contained in a statement signed by Mr Chike Anikwe, Acting Group Company Secretary, Transcorp made available on Friday in Lagos.
According to the statement, the transaction is one of the largest oil and gas financings in Africa in more than a decade, with a financing component of $1.1billion, provided by a consortium of global and regional banks and investors.
It said that the transaction was through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), which will have sole oparatorshio of the asset from Shell Petroleum Development Nigeria Plc, Total E&P Nigeria Limited and ENI.
Mr Tony Elumelu, Chairman of Heirs Holdings, said in the statement: “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs.
“The acquisition of such a high quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled.
“As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria.
“We see significant benefits from integrating our production, with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain,” he said.
Elumelu further said: “I would like to thank Shell, Total and ENI, for the professionalism of the process, the Federal Government of Nigeria, the Ministry of Petroleum Resources, and the NNPC for the confidence they have placed in us,” he noted.
Speaking on the investment, Mr Owen Omogiafo, the President and Group Chief Executive Officer, of Transcorp, said that the transaction was an evidence of the company’s strategy to power Africa.
“This deal further demonstrates Transcorp’s integrated energy strategy and our determination to power Africa.”
Heirs Holdings was advised by Standard Chartered Plc, as Global Coordinator, and United Capital Plc, with a syndicate of lending institutions, including Afreximbank, ABSA, Africa Finance Corporation, Union Bank of Nigeria, Hybrid Capital, and global asset management firm, Amundi.
The deal also involves Schlumberger as a technical partner, as well as the trading arm of Shell as an offtaker.
According to the statement, OML 17 has a current production capacity of 27,000 barrels of oil equivalent per day and, according to our estimates, 2P reserves of 1.2 billion barrels of oil equivalent, with an additional 1 billion barrels of oil equivalent resources of further exploration potential.

Rivers

Ogoni Community Rejoices Over Return Of Peace

Published

6 hours ago

January 9, 2026

The Tide

The people of Zaakpon Community in Khana Local Government Area, in Ogoni, of Rivers State, have expressed happiness over the return of peace in the community.

Speaking during a Thanksgiving Service held at Zaakpon townsquare on Sunday, the Coordinator, Bua-Zaakpon Prayer Team, Charles Daka, said the thanksgiving service was to celebrate seven years of the return of peace in Zaakpon.

He called on the people of Zaakpon to continue to work harder in order to sustain the existing peace in the community.

The prayer coordinator also thank God for the peace that has returned, adding that the crisis that erupted in 2019 destroyed properties, life, schools and other commercial activities in the community.

“Innocent people were brutally murdered, churches, schools and other commercial activities were shutdown.

“It was so pathetic, but we thank Almighty God in his mercy for the return peace on the land.

“God used His son, Gani Toba, and some devoted Christians, mostly females, who were instrumental to intercession for divine intervention and God answered their prayers and restored peace in Zaakpon”, Daka said.

Daka also appreciated the State Governor, Siminalayi Fubara, for the peace initiative and development in Zaakpon Community.

He urged the people of Rivers State to continue to support the Governor in order to attract more development in the state.

On his part, the Gbenemene of Kologbere-Bua-Zaakpon Community, King John Suka-Bakpo, said he will continue to work with all relevant authorities to ensure that the existing peace becomes a lasting one in Rivers State and beyond.

“I want to thank God for the peace we enjoyed all this years. Also, I want to thank God for our son, Gani Toba, for his role in returning peace in our community, Zaakpon.

“He used his time and money to ensure peace returns to our community.

“I want also thank our Governor, Sir Siminalayi Fubara, who has shown that he is a son of Zaakpon”, Chief Bakpo said.

He advised parents to counsel their children to maintain harmony in the community.

Kiadum Edookor

Rivers

KALCCIMA Inaugurates New Executive Council … Pledges Renewed Drive For Kalabari Economic Growth

Published

7 hours ago

January 9, 2026

The Tide

The Kalabari Chamber of Commerce, Industry, Mines and Agriculture (KALCCIMA) has formally inaugurated its new Executive Council (Exco) in a ceremony marked by optimism, strong institutional backing, and renewed commitment to economic development in Kalabari land.

Inaugurating the new Executive, the National Deputy President of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Emi Membere-Otaji, charged the new leadership to position KALCCIMA as a catalyst for inclusive growth, enterprise development, and strategic engagement with government and the private sector.

The newly inaugurated officers of KALCCIMA are: Elder Monima Daminabo (President); Amb. Clement Akanibo (First Deputy President); Boma Kaladokubo (Second Deputy President); Harry Awolayeofori Macmorrison (Executive Secretary/Director-General); and Faaye Franklin (Treasurer).

Others are: Engr. Robinson Success (Financial Secretary); Ibiba Don-Pedro (Public Relations Officer); Princess Nancy Boma Princewill (Organising Secretary); Barr. Idaoyibo Fortune Igbikikuno (Legal Adviser); and Abiye George, who emerges as the Welfare Officer.

In his keynote address, Dr. Membere-Otaji congratulated the Exco and emphasized the strategic importance of a vibrant local chamber to regional and national economic growth.

He urged the leadership to align KALCCIMA’s programmes with NACCIMA’s national vision, stressing professionalism, transparency, and innovation in advancing commerce, mining, agriculture, and small and medium-scale enterprises in Kalabari.

“The Chamber must become a rallying point for entrepreneurs, investors, and policymakers. Kalabari has immense economic potential, and KALCCIMA must provide the structure and leadership to unlock it”, he said.

Also speaking, the Chairman of the Board of Trustees, Pastor Prince Billy Harry, charged the Exco to lead with integrity, unity, and purpose.

He encouraged them to move beyond ceremonial roles and focus on tangible outcomes that would uplift Kalabari communities, empower youth and women, and attract sustainable investments.

In his acceptance remarks, Elder Monima Daminabo, President of KALCCIMA, expressed gratitude to NACCIMA, the Board of Trustees, and stakeholders for their confidence in the new leadership.

He assured members that the Exco would prioritize stakeholder engagement, capacity building, and partnerships aimed at stimulating trade, supporting local industries, and promoting agricultural and maritime opportunities unique to the Kalabari axis.

Highlight of the occasion was presentation of goodwill messages by notable professionals and stakeholders, including Arc. Eniye Braide, Arc. Danny Sokari George, and Ebianga Bestmann, all of whom commended the inauguration and expressed confidence in the capacity of the new Exco to reposition KALCCIMA as a strong voice for economic advocacy and development.

They urged the chamber to leverage Kalabari’s strategic location, cultural heritage, and human capital to foster entrepreneurship, attract investments, and contribute meaningfully to the economic prosperity of Rivers State and Nigeria at large.

The inauguration ceremony ended on a note of collective resolve, with stakeholders expressing hope that the new leadership would usher in a new era of relevance, impact, and sustainable development for KALCCIMA and the entire Kalabari nation.

Rivers

Rivers Police Commissioner Condemns Vigilante Group Over Aluu Attack

Published

7 hours ago

January 9, 2026

The Tide

The Rivers State Commissioner of Police, Mr. Olugbenga A. Adepoju, has condemned the actions of the vigilante operatives involved in the recent gun attack on residents of Unity Estate at Aluu in Ikwerre Local Government Area.

A statement by the State Police Public Relations Officer (PPRO), CSP Grace Iringe-Koko, in Port Harcourt, said the Rivers Police Commissioner noted that no group was permitted to take the law into its own hands irrespective of their claims.

The Police Command, through the statement, reassured residents of the State of their safety.

“Members of the public are advised to provide credible information that could lead to the arrest of the fleeing suspects. Efforts are on to bring all those involved to justice”, it said.

Meanwhile, normalcy was said to have returned to the area following the arrest of 12 suspects linked to the attack.

The assault occurred in broad daylight on January 5, 2025, when armed men stormed the Mbodo–Aluu estate, firing shots indiscriminately and unleashing fear across the once-peaceful neighbourhood.

According to Police findings, the attackers were suspected members of a vigilante group, the Onelga Peace And Advisory Committee popularly known as OSPAC from parts of Obio/Akpor Local Government Area.

The Police report said the attack was allegedly supported by some hired thugs brought in to reinforce the operation.

Witnesses said the assailants were armed with Pump-Action guns, cutlasses and other dangerous weapons.

The Police noted that the coordinated attack resulted in the destruction of sections of the estate, with several vehicles vandalised in what residents described as a calculated show of force.

One of the victims was shot in the leg during the attack and was abducted subsequently by the gunmen.

Swift police action followed a distress call, with operatives from the Choba Division racing to the scene and receiving reinforcement from the Anti-Kidnapping Unit and the Octopus Tactical Teams.

The combined operation led to the successful rescue of the abducted victim, who was immediately rushed to a medical facility where he is currently receiving treatment.

Exhibits recovered include one automatic Pump-Action gun, a live cartridge, expanded shells, assorted charms, five motorcycles, two mini-buses and a Siena van allegedly used during the operation.

King Onunwor