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

Delta CP Seeks More Support From Traditional Institutions

Published

22 hours ago

July 3, 2026

The Tide

The Commissioner of Police (CP) Delta State Command, Mr. Yemi Oyeniyi, has urged traditional institutions to continue to support law enforcement in the country.

Oyeniyi gave the advice on Tuesday at the palace of the Ovie of Uvwie Kingdom, Dr. Emmanuel Sideso, Abe 1, in Effurun, Uvwie Local Government Area of the state.

The Commissioner, who was on a familiarisation tour of police formations across the state, including the Effurun area command, solicited continued partnership of the Uvwie domain in strengthening intelligence gathering and promoting peaceful co-existence.

He commended the Ovie of Uvwie for his unwavering commitment to peace, security, and community development.

“I acknowledge the invaluable role of traditional institutions in supporting law enforcement in the country.

“I equally solicit continuous partnership of the Uvwie domain in strengthening intelligence gathering and promoting peaceful co-existence among the people”, he said.

In his remarks, the Ovie of Uvwie, welcomed the Commissioner and his entourage to the domain.

He reaffirmed the commitment of the people to supporting the Nigeria Police and other security agencies.

The royal father urged his subjects to continue to cooperate with the security agencies by way of providing timely and credible information.

The Commissioner, thereafter, proceeded to perform the groundbreaking of the Effurun area command at the instance of the Insp.-Gen. of Police, Mr. Olatunji Disu.

Rivers

IAUE Senate Approves Leadership, Language Center Establishment

Published

22 hours ago

July 3, 2026

The Tide

The Senate of Ignatius Ajuru University of Education (IAUE), Rumuolumeni, Port Harcourt, has approved the establishment of a University Leadership Assessment Centre as proposed by Professor Veronica Okogbaa of the Department of Educational Management.

A statement signed by the Public Relations Officer of the university, Dr. Ngozi Okiridu, said the centre will, among other things, identify and develop high potential skilled leaders and talents.

It will also evaluate participants through multi dimensional approach rather than rely on subjective perceptions, indulge in leadership trainings, and generate income from services with succession planning.

Similarly, Senate also approved the establishment of a centre for languages, digital Humanities and intercultural studies as proposed by the Dean of Faculty of Humanities, Professor Ibiere Ken-Maduako.

The proposed centre, according to he statement, will have seven units namely language teaching unit, where French, Spanish, Arabic, Portuguese, German, Hausa, Igbo, Yoruba and Rivers State indigenous languages will be taught.

It will also have Translation and interpretation unit, indigenous languages documentation unit, Digital Humanities Laboratory, Artificial intelligence and language teaching unit, professional certification unit, as well as Research and Publication unit..

The statement quoted the Dean, Faculty of Humanities, Professor Ken-Maduako, the centre will offer certificate in language proficiency for beginners, intermediate, advanced Diploma programme, translation and interpretation courses, Digital Humanities certification programme, Artificial intelligence and language technology workshops, online and Hybrid learning programmes, weekend and evening public classes, indigenous languages documentation training and Business and professional communication courses.

Professor Ken-Maduako firther said the center “will increase visibility of the University nationally and internationally, generate sustainable internally generated revenue, increase opportunities for grants and donor funded projects, enhance interdisciplinary research output, promote cultural preservation and community engagement, strengthen the University”s profile in innovation and digital transformation, attract research collaboration and international partnerships, and improve graduate employability and digital competence.”

In his speech, the Chairman of Senate and Vice Chancellor of the university, Professor Okechuku Onuchuku, encouraged sponsors of the centre to source for funds for the take off of the centre.

He explained that Directors will be appointed for the self-sponsored centres and reiterated that his administration will continue to support all proposals geared towards the growth of the University as long as they are consistent with the academic brief of the Ivory Tower.

Earlier, Professor Samuel Otamiri commended Professor Veronica Okogbaa for the proposed centre which, he said, is a remarkable development, amd described it as a robust programme that would attract the necessary patronage .

In another development, the Senate welcomed a suggestion by Professor Priye Iyalla-Amadi that Valedictory Senate sessions be introduced and held for retired Professors.

Results from the Postgraduate School as presented by the Dean of the School, Professor Chibuzor Chile Nwobueze, was approved by Senate.

Senate also approved that presented by the Director of the Centre for Continuing Education (CCE), Professor Goddey Wilson, and that of the Graduate School of Business by Dr. Florence Ironawusi.

Sogbeba Dokubo

Rivers

Group Tasks School Proprietors, Parents On Early Preparation

Published

22 hours ago

July 3, 2026

The Tide

The National President, Forum of Inclusive Educators and Readers (FIER), Mr. Onyeka Innocent, has admonished school owners and parents alike to learn how to prepare their children/wards ahead time in order to beat challenges irrespective of the angle they may spring up from.

Innocent made this known at the Forum’s meeting held partly in honour of the Spelling B, 2025 winners, in Port Harcourt.

“Soldiers are not trained during war, rather, they are trained and kept in the Barracks, waiting for war”, he said.

He said students must be provided with the necessary educational tools capable of boosting their academic pursuit.

According to him, proprietors of schools must conform with the Government’s authorities and guidance if they are determined to succeed in the project.

Another solution to educational management, he said, is the availability of Education Committees in schools, saying that it will improve the quality of its learning process.

Though he did not rule out decay in the society, he said there are few that still hold fast to determination and sincerity.

The FIER leader said his association was one of the bodies with the zeal to right wrongs in the society, especially in the Education sector.

He noted that his group was also prepared to reduce the number of out-of-school children by ensuring that education was taken to all parts of the Country.

On registration of private schools as directed by the State Government, he said his members are in compliance and assured of a cordial relationship between the Government and his Association.

Meanwhile, the winners of the Competition were Master Fredrick Jeffrey of Daisy Dan School, who emerged first; Badubulachi Maryan of Fertile Vineyard Academy, 2nd; and Itode Samuel of Baridoo Sam Joel School, 3rd.

They winners where rewarded with cash prices of N100,000, N50,000 and N30, 000 respectively.

King Onunwor