Oil & Energy

Oil Firms, Committee Partner On Conference

Published

13 years ago

September 9, 2012

To ensure success of Port Harcourt International Oil and Gas, (PHIOG) conference and exhibition members of PHIOG organising committee led by its chairman, Hon. Evans Bapakaye Bipi says a viable partnership is imperative, Hon Bipi stated this while on courtesy visit to Shell, Onne Oil and Gas Free Zone Authority and Brawal Oil Services Limited in Onne at the weekend.

Accompained by his Vice, Chief Dandison Gbupo and Elder Amabipi Martins, Chairman, Vice chairman and Publicity Consultant of the committee respectively, Hon Bipi emphasised the need for management of the companies to partner with the committee to reap immensely from benefits of the conference and to also contribute their quota in ensuring that the oil and gas conference meets its objective.

While at Shell, Bipi observed that the company is obviously the biggest among the oil majors in the country and requested its acceptance of being the lead sponsor of the event. “We appreciate your previous sponsorship, but we want you to take centre stage as lead sponsors, it will afford you the opportunity to showcase your goods, services and CSR to the entire world” he said, adding that participation of huge multinationals like Shell will add more impetus to the event.

Speaking about the theme for this year’s conference ‘THE NIGERIA CONTENT ACT AND DEREGULATION: ISSUES AND PROSPECTS’, publicity consultant of the group, Elder Amabipi Martins expressed joy that Shell has an office in charge of local content, according to him the conference is another opportunity to showcase and exhibit what the company has been able to do in terms of Corporate Social Responsibility and general participation in its attempt to give back to communities where they operate.

In the same vein, the vice chairman of the committee, Chief Dandison Gbupo in his remark noted that the committee is determined to place the state in its pride of place among comity of states that serve as hub of oil and gas. “We intend to use the 2012 event to rebrand the PHIOG conference and have a more acceptable global brand. Our various visits for partnership and participation for both the oil and gas conference and the 1st ever Nigeria Oil and Gas golf Tournament is a reflection of our resolve to achieve success. Let me therefore state that our visit to Shell is to make it more official otherwise considering that the company is a very important stakeholder in the industry we want to say welcome once more aboard’ he was quoted as saying.

The 1st deputy president of PHCCIMA, Engr. Emeka Unachukwu in his remark said the event is a dress rehearsal to greater oil and gas conference in the state. He commended Shell for their continuous partnership and assured them of greater things are in the future.

The Shell management team was led by its Corporate/ Government and Community Relations Manager, Mr. Fufeyin Funkapo, the Corporate Head Lands & Compensation team, Franca Obinatu, the Communications Manager, Peter Adamiete, Government Relations Adviser, Boma Alamina and the GM Nigerian Content Development, Mr. Igo Weli were all on hand to showcase the effort of Shell for their hosts. According to the company’s GM Nigerian Content Development, Mr. Igho Weli he said the company has contributed to increase in employment, developing capacities and helping government to increase its revenue through GMOU’s, CSR Projects, community content, interdependency, interventions and various other initiatives.

Mr. Weli after an incisive session had also expressed confidence in the success of the upcoming event and promised that Shell will partner with the committee like they have always done in past years.

The PHIOG train also moved to the Oil and Gas free zone Authority in Onne, Eleme where they paid a courtesy call on the General Manager, Mr. Victor Alabo. Chairman of the committee who is also the chairman Energy and Natural Resources committee of the Rivers state house Assembly, Hon. Evans Bipi said the committee’s visit was to solicit for support and partnership in the upcoming conference. He noted that the event will undoubtedly assist in unraveling and boosting the potentials in the oil and gas free zone. Bipi explained that the Rivers State house of Assembly is partnering with Port Harcourt Chamber of Commerce (PHCCIMA), Petroleum Technology Association of Nigeria (PETAN) and PENWELL for this year’s event to ensure that the 3rd edition meets its objective. He commended the management of Oil and Gas Free zone Authority for attracting investment into the oil and gas sector in the state, reassuring that vistas of opportunities will open with the new found synergy with both group.

In his remark, the General Manager of Oil and Gas Free Zone Authority, Mr Victor Alabo commended the delegation for the visit, he said his management was initially surprise that the authority were yet to be notified about an event of such magnitude like the Port Harcourt Oil and Gas Conference only weeks to the event, but however promised that having been briefed officially, the Onne oil and gas free zone authority will definitely partner with the committee for the conference.

Oil & Energy

TotalEnergies, Conoil Sign Deal To Boost Oil Production

Published

3 days ago

November 24, 2025

The Tide

TotalEnergies has signed agreements with Conoil Producing Limited under which to acquire from Conoil a 50 per cent interest in Oil Processing Licence (OPL) 257, a deep-water offshore oil block in Nigeria.

The deal entails Conoil also acquiring a 40 per cent participating interest held by TotalEnergies in Oil Minining Lease (OML) 136, both located offshore Nigeria.

Upon completion of this transaction, TotalEnergies’ interest in OPL257 would be increased from 40 per cent to 90 per cent, while Conoil will retain a 10% interest in this block.

Covering an area of around 370 square kilometres, OPL 257 is located 150 kilometers offshore from the coast of Nigeria. “This block is adjacent to PPL 261, where TotalEnergies (24%) and its partners discovered in 2005 the Egina South field, which extends into OPL257.

Senior Vice-President Africa, Exploration & Production at TotalEnergies, Mike Sangster, said “An appraisal well of Egina South is planned to be drilled in 2026 on OPL257 side, and the field is expected to be developed as a tie-back to the Egina FPSO, located approximately 30 km away.

“This transaction, built on our longstanding partnership with Conoil, will enable TotalEnergies to proceed with the appraisal of the Egina South discovery, an attractive tie-back opportunity for Egina FPSO.

“This fits perfectly with our strategy to leverage existing production facilities to profitably develop additional resources and to focus on our operated gas and offshore oil assets in Nigeria”.

Oil & Energy

“COP30: FG, Brazil Partner On Carbon Emissions Reduction

Published

3 days ago

November 24, 2025

The Tide

The Federal Government and Brazil have deepened collaboration on climate action, focusing on sustainable agriculture, renewable energy, and the reduction of black carbon emissions.

The partnership is anchored in South-South cooperation through the Brazil-Nigeria Strategic Dialogue Mechanism, which facilitates the exchange of ideas, technology, and policy alignment within the global climate framework, particularly the Paris Agreement.

The Executive Secretary, Amazon Interstates Consortium, Marcello Brito, made the disclosure during an interview with newsmen, in Abuja, on the sidelines of the 2025 COP30 United Nations Climate Change Conference, held in Belem, Brazil.

Brito emphasized that both nations are committed to global efforts aimed at curbing black carbon emissions, a critical component of climate mitigation strategies.

“Nigeria and Brazil are collaborating on climate change remedies primarily through the Green Imperative Project (GIP) for sustainable agriculture, and by working together on renewable energy transition and climate finance mobilisation,” Brito said.

“These efforts are part of a broader strategic partnership aimed at fostering sustainable development and inclusive growth between the two Global South nations,” Brito added.

TheTide gathered that President Bola Ahmed Tinubu announced an ambitious plan to mobilize up to $3 billion annually in climate finance, through its National Carbon Market Framework and Climate Change Fund, positioning itself as a leader in nature-positive investment across the Global South.

Represented by the Vice President, Senator Kashim Shettima, Tinubu made the announcement during a high-level thematic session of the conference titled ‘Climate and Nature: Forests and Oceans’

Tinubu stressed that Nigeria’s climate strategy is rooted in restoring balance between nature, development, and economic resilience.

Hosted in the heart of the Amazon, on November 10—21, the 30th COP30 conference brought together the international community to discuss key climate issues, focusing on implementing the Paris Agreement, reviewing nationally determined contributions (NDCs), and advancing goals for energy transition, climate finance, forest conservation, and adaptation.

Oil & Energy

DisCo Debts, Major Barrier To New Grid Projects In Nigeria ……. Stakeholders

Published

3 days ago

November 24, 2025

The Tide

Energy industry leaders and lenders have raised concerns that the high-risk legacy debts of Distribution Companies (DisCos) and unclear regulatory frameworks are significant barriers to the financing and development of new grid-connected power projects in Nigeria.

The consensus among financiers and power sector executives is that addressing legacy DisCo debt, improving contractual transparency, and streamlining regulatory frameworks are critical to unlocking private investment in Nigeria’s power infrastructure.

Speaking in the context of new grid-connected power plants, during panel sessions at the just concluded Lagos Chamber of Commerce and Industry (LCCI) Power Conference, Senior Vice President at Stanbic IBTC Infrastructure Fund, Jumoke Ayo-Famisa, explained the cautious approach lenders take when evaluating embedded or grid-scale power projects.

Ayo-Famisa who emphasized the critical importance of clarity around off-takers and contract structures said “If someone approaches us today with an embedded power project, the first question is always: Who is the off-taker? Who are you signing the contract with?” . “In Lagos State, for example, there is Eko Electricity and Excel Distribution Company Limited. Knowing this is important,” she said.

She highlighted the nuances in contract types, whether the developer is responsible just for generation or for the full chain, including distribution and collection.

“Collection is very important because you would be wondering, ‘is the cash going to be commingled with whatever is happening at the major DISCO level, is it ring-fenced, what is the cash flow waterfall,” she stated.

Ayo-Famisa pointed out that the major stumbling block remains the “high leverage in the books of the legacy DisCos.” Incoming project financiers want to be confident that their cash flows won’t be exposed to the financial risks of these indebted entities. This makes clarity on contractual relationships and cash flow mechanisms a top priority.

Noting that tariff clarity also remains a challenge, Ayo-Famisa said “Some states have come out to clearly say that there is no subsidy; some are saying they are exploring solutions for the lower income segments. So, the clarity would be on who is responsible for the tariff, is this sponsored?, Can they change tariffs?, In terms of if their cost rises, they can pass it on, or they have to wait for the regulator.

“Unlike, what you find in the willing seller-willing buyer, where they negotiate and agree on their prices. Now they are going into grid, there is Band A, Band B, if my power goes into, say, Ikeja Electric, or I have a contract with them, “am I commingled with whatever is happening across their multiple bands?”

Also speaking, Group Managing Director and CEO of West Power & Gas Limited, Wola Joseph Condotti, stressed the dual-edged nature of decentralization in the power sector.

“Of course, decentralization brings us closer to the people as the jurisdiction is now clear. You also know that your tariff would be reflective of the type of people living in that environment. You cannot take the Lagos tariff to Zamfara, and this is what has been happening before now in the power sector. So, decentralization brings about a more customized solution to issues you find on the ground.

“Some of the issues I see are those that bother on capacity. It was a centrally run system that had 11 DISCOs. Of the 11 DISCOs, I think there are 3 or 4 of us today that are surviving or alive, if I may put it that way. If you go to electricity generation companies, they are doing much better,” she said.

Condotti highlighted regulatory overlaps as another complication, especially when power generation or distribution crosses state lines.

She said, “Investors would definitely have a problem. Say if you have a plant in Ogun State supplying power to another state, say Lagos State; you are automatically regulated by NERC. But the truth is that the state regulator of Ogun State and Lagos State wants you to comply with certain regulatory standards.”

With the growing demand for reliable electricity and an urgent need for infrastructure expansion, the ability to navigate these complex financial and regulatory landscapes would determine the pace at which new grid-connected power projects can be developed.