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

Insecurity: Paramount Ruler Seeks Profiling Of Residents

Published

2 days ago

March 23, 2026

The Tide

A Paramount Ruler in Rivers State, Nyenweli Elele-Alimini, in Emohua Local Government Area, Eze Peter Wagbara CP (rtd.), has called for the profiling of residents in his domain in order to forestall security threats and challenges.

The Nyenweli made the call at the weekend during the Ogbakor Elele Alimini 2026 first meeting held at their Kingdom Civic Centre in Elele, Alimini.

According to him, the step would help relevant authorities to keep tabs on residents and curtail criminality in the area.

The Paramount Ruler promised indigenes and non-indigenes living and doing business in the area of adequate security of their lives and properties.

“Inspite of the negative reports about insecurity in part of the country, I want to assure the people and residents of Elele Alimini of adequate protection of their lives and properties, hence the need for water-tight security throughout the nooks and crannies of Elele Alimini.

“Following the influx of people into Rivers State, particularly Elele Alimini right now, I want to charge chiefs and landlords in our kingdom to profile their tenants, religious leaders of the various faith-based organizations and commercial transporters in our domain”, Eze Wagbara said.

The retired Commissioner of Police stated that despite the violence and banditry in parts of the country, chiefs and elders as well as leaders of thoughts within his area would work closely to ensure peaceful co-existence among residents of Elele Alimini, adding that “it is one God, one Elele Alimini, and one destiny” under his reign.

He commended members of Elele Alimini Council of Chiefs and Elders as well as the CDC Chairman and the Youth President for their contributions toward the socio-economic development of the area.

Also speaking, the Chairman of Elele Alimini Gospel Ministers Forum (EAGMF), Apostle Hope Abikari, said there were a lot of churches serving God in Elele Alimini with different doctorines and practices and stressed on the need for confidentiality in handling of religious matters and related issues in the area.

“Eze Sir, I want to inform you that there are a lot of churches at Elele Alimini today serving God. In fact, this invite to religious leaders at Elele Alimini is very crucial. There is need to arrange for a fresh private meeting with religious leaders in Elele Alimini, which should be confidential. I suggest that a committee be set up to look into the activities of churches in Elele-Alimini”, he added.

He described Eze Wagbara as a Monarch who has the interest of his subjects at heart, and lauded Eze Wagbara and his Council of Chiefs, as well as members of Ogbakor Elele Alimini for their quality leadership in the kingdom.

On his part, the Chairman of Motor Cycle Operators Union of Nigeria, Elele Alimini Branch, Comrade Obuah Emeka, said members of the union who operate within Elele Alimini and Elele Okinali would render efficient services to commuters/passengers in the area.

Comrade Emeka explained that members of the union were not involved in crimes, noting that they do not constitute nuisance to the society.

He, however, promised to co-operate with the leaders of Elele Alimini in order to ensure safety within the area.

Rivers

KENPOLY Matriculates 4,350 Students

Published

2 days ago

March 23, 2026

The Tide

The management of Kenule Beeson Saro Wiwa Polytechnic (KENOOLY), Bori, has matriculated a total of 4, 350 students into the 2025/2026 academic session.

The management said the matriculation ceremony is officially admitting students into various National Diploma (ND) and Higher National Diploma (HND) courses in sciences, Engineering, Environmental and Management Technology, spreading in five different schools of the institution

Speaking at the event, the Acting Rector of the school, Dr. George Chile Wadike, told the matriculants that “the matriculation marks the beginning of a long and challenging, but fulfilling journey in your academic development. I implore you to be resilient, focused and dedicated to the primary reasons you are here”.

The polytechnic, Wadike said, “does not tolerate any form of indecency from students, social vices like examination malpractice, theft, cultism and other violences in any form, which attract outright expulsion.

“The Polytechnic is a place where you enjoy a lot of freedoms, but that freedom often comes with some corresponding obligations as your freedom ends where another person’s freedom begins.

“So, not only must you protect your rights, privileges and freedom, you must also ensure that you do not trample on the rights, privileges and freedom of Others.

“I, therefore, recommend that you emulate the examples of your mentors and lectures in self discipline, self care, good mode of dressing, fedelity to studies and work and general comportment so that you will not be found wanting.”

He continued that “Kenpoly is positioned to be a trailblazer in good governance, accountability and transparency within the firmament of Nigeria’s educational system.

“We have no doubt that this polytechnic is strongly positioned to solve some of the nations problems of unemployment by graduating not only self-employable youths, but also youths that are themselves employers of labour.”

He announced to the matriculants and parents that the Tertiary Education Trust Fund (TETFund) has introduced a new intervention line with the Career Development Centers.

Wadike said the new intervention is purposely for the initiation, taking-up and continuous maintenance of Student Career Guidance.

By: Chinedu Wosu

Rivers

Group Seeks Traditional Medicine Hospital Establishment In Rivers

Published

2 days ago

March 23, 2026

The Tide

A group under the aegis of the Modern Traditional Medicine Practitioners of Nigeria (MTMPN), Rivers State Branch, has called on the state government to build a designated traditional medicine hospital in the state.

They said this will enable the state government actualise full realisation of its healthcare service delivery programmes and maximize the potentials of its members in the state’s health sector.

The State Chairman of the MTMPN, Eze Stanley Munoye Ogbu, made the call after the group’s general meeting in Port Harcourt, weekend, noting that the modern traditional medicine practitioners in the state are ready to partner with the government to contribute their own quota towards the development of the health sector.

Eze Ogbu, who is a member of the Rivers state government approved Board of Traditional Complimentary and Alternative Medicine (TCAM), urged members to choose area of specialisations and not be jack of all trade, while also exhibiting a high sense of professionalism in their practice, and conducting their operations in a clean environment.

The Onye Ishi Agwuru of Okehi Kingdom in Etche Local Government Area of the state hinted that a committee has been set up by the TCAM Board to clamp down on unlicensed practitioners and use the opportunity to call on the state government to invest in traditional medicine to boost revenue and create jobs.

Also speaking, the Chairman of MTMPN, Obio/Akpor LGA Chapter, Dr. Dede Temple Owhadah, said the association is training members on modern practices in order to improve their efficiency in the treatment of patients across the state.

He called on herbal and traditional medicine practitioners in the state to get trained and be educated in their areas of specialisation to remain relevance in the practice

Owhadah warned that the taskforce will go after unlicensed practitioners after the training period and urged governments at all levels to work with the registered professionals in their domain to flush out unqualified practitioners and to tap into the profession’s human resources to improve the healthcare delivery system in the state.

He stressed that members of the group are celebrated researchers who have manufactured certified drugs as cures for various diseases and ailments.

“What we are doing is that we are training and educating our members to improve on their proficiency and modern practices they desire to operate with. After this, we are going to come after those unqualified practitioners and clampdown on them across the entire state.

“Whether you are selling herbal medicine in the street, bone setters, or using any form of herbs and alternative medicine to treat people, we are going to shut such areas down without any recognised government approval at the end of the training session”, he stated

On her own. Dr. Gorgeous Chinyere Adichie commended the group for the education and training of their members to update them with the needed professional experience in the practice.

By: Akujobi Amadi