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

Navy Targets Training Reforms To Boost Maritime Operations

Published

1 day ago

November 19, 2025

The Tide

The Nigerian Navy has pledged to strengthen the training of its personnel to ensure improved performance in both sea and land operations across the country.

The new Flag Officer Commanding (FOC) the Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, made this known on Monday during a handover and takeover ceremony held in Ebubu-Eleme, Rivers.

The Tide’s source reports that Zipele succeeded Rear Adm. Robert Obeya following a recent posting exercise that saw the redeployment of 65 senior officers.

Zipele stated that the Chief of Naval Staff (CNS), Vice Adm. Idi Abbas, had reiterated his commitment to professionalism, discipline, and operational excellence within the Navy.

“This can only be achieved through effective training and retraining of personnel”, he said.

The FOC added that beyond training, his administration would work closely with the Naval Headquarters to enhance training standards and operational efficiency across all Nigerian Navy training institutions.

“President Bola Tinubu deemed it necessary to appoint new Service Chiefs to restructure the nation’s security architecture.

“In line with this mandate of the CNS, one of our key goals is to review and improve our training systems to address contemporary security challenges.

“The CNS is deeply passionate about personnel training because it is essential to achieving operational efficiency in addressing the current security issues facing our nation,” he explained.

Zipele emphasised that every sailor had a crucial role to play in building on the Navy’s existing successes in combating oil theft, sea robbery and piracy, among other maritime crimes.

He noted that NAVTRAC was responsible for overseeing the training of personnel across its professional institutions to prepare them for emerging security threats.

According to him, the Navy’s training programmes will be enhanced through the integration of modern technologies to ensure greater effectiveness.

“The only way to confront security challenges facing our nation is through intensive and continuous training across all formations and units.

“As I assume command of NAVTRAC, I am confident that with the support of the CNS and personnel, we will elevate the standard of training in the Nigerian Navy to greater heights”, Zipele affirmed.

In his remarks, the outgoing FOC, Obeya, said the command achieved significant progress despite some challenges encountered during his tenure.

He commended the officers, ratings and civilian staff for their cooperation and urged them to extend the same level of support to his successor.

“During my command, we prioritised the use of technology, certification, and the accreditation of Nigerian Navy professional courses.

“We developed strategies to revitalise naval training in line with the new platform acquisitions, ensuring that our graduates can compete favourably with their counterparts across the world”, Obeya said.

He added that the command had addressed statutory training requirements and conducted a curriculum review to align with current security realties.

He, however, noted a shortage of the skilled manpower required to effectively deliver training in naval institutions.

Rivers

New Year Festival: Dokubo Urges Citizens’ Reorientation In Cultural Values

Published

1 day ago

November 19, 2025

The Tide

The Paramount Ruler of Torusaramapiri, Kalabari ethnic group in Rivers, Alhaji Asari Dokubo, has called for citizens’ reorientation in cultural values and heritage.

He made the call at the second edition of the Kalabari New Year festival, organised by the Kalabari Renaissance Foundation at Elem, Kalabari, in Degema Local Government Area of Rivers.

Speaking on the significance of the event, Dokubo said it represented a return to the traditional values of the Kalabari people.

He also stressed the need for the people to prioritise their cultural norms and values to preserve their ancestral identity.

“This is not just about celebration, it’s about recreating ourselves, bringing us back from death; it is not just Kalabari, it’s about all of us and our values.

‘’It is time we began to re-evaluate ourselves, join hands, revive our traditional values and heritage so that we don’t loose our cultural identity and spiritual trajectory”, Dokubo said.

Speaking, the Chief Administrator and Chairman of Kalabari Renaissance Foundation (the organisers of the festival), Mr. Awolayeofori Harry MacMorrison, said the event marked the beginning of a new calendar year for the Kalabari people.

He explained that the festival was an annual ritual, observed after November 15 when the tide cleansed the pollution from the popular Sombrero River, describing the annual occurance as a renewal of the Kalabari people.

MacMorrison said though the festival was not new to the people, the initiative by the Renaissance Foundation had made it more unifying.

“It is the renewal of the people, Kalabari area is a saline environment and at specific period of the year, the Sombrero River flows in and pollutes the river.

“However, November 15, across Kalabari, the tide turns and takes all the fresh water that polluted the saline river back to the Sombrero River”, he said.

He explained that with the natural occurrence, the Kalabari calendar year ended every November 15, while November 16 would mark the beginning of the year in the community.

On his part, the President, Tourism Association of Nigeria (EFTAN), Mr. Badaki Aliyu, commended the organisers and the people for preserving their age-long culture.

He also applauded the paramount ruler for sustaining the trend, saying that the festival would continue to promote unity in the area.

“We won’t take this visit for granted, we will do a lot of research and publicity on this.

“We would also ensure that these natural toursm potentials are properly channeled for the economic good of the people”, Aliyu added.

By: Theresa Frederick & Charity Amiso

Rivers

Ikwerre Council Boss Bans Scavenger Operations

Published

1 week ago

November 10, 2025

The Tide

The Chairman of Ikwerre Local Government Area (LGA), Hon. Charles Wobodo, has banned scavenger operations within the area, citing rising security threats, vandalism, and environmental degradation linked to the activity.

Wobodo made the declaration during an unscheduled visit to one of the scavenger sites in Elele Community, recently.

He also expressed concern over the illegal operations being carried out under the guise of scrap collection.

Accordingly, he said the council could no longer tolerate activities that endanger lives and properties.

The Chairman, who was visibly displeased with the level of disorder and environmental nuisance at the site, said several reports had linked scavengers to cases of theft, vandalism of public infrastructure, and unwholesome environmental practices.

“From what I have seen here today, it is clear that these scavengers are operating outside the law. We cannot allow this to continue”, he said.

According to him, the council’s decision to impose a total ban was informed by the increasing security challenges and complaints from residents and community leaders.

“We have received numerous reports of missing cables, stolen manhole covers, and break-ins traced to scavengers. Enough is enough!”, he declared.

Wobodo further disclosed that security agencies had been directed to immediately seal all scavenger sites in the local government area and arrest anyone found operating or aiding such activities.

“Anyone who buys from these illegal operators will be treated as an accomplice. We are determined to rid Ikwerre of all forms of criminals disguised as scavenging”, he said.

During the visit, the chairman ordered the immediate evacuation of all waste materials and condemned the unhygienic state of the site. He described the location as a potential health hazard and an environmental risk to surrounding residents.

Speaking with The Tide after the chairman’s visit, a resident of Elele, Mr. Bright Eke, commended the council’s decision, noting that scavengers had become a source of insecurity in the area.

“We’ve had several cases where they steal electric cables and invade people’s compounds. This action by the chairman is long overdue”, he said.

Meanwhile, the people have called on the KELGA boss to form Environmental and Security taskforce teams in order to begin immediate enforcement of the ban in Elele and other major communities in the area.

By: King Onunwor