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

VIO HOLDS COLLABORATIVE MEETING WITH AUPCTRE IN RIVERS STATE

Published

13 hours ago

May 29, 2026

The Tide

The Chief of the Rivers State Road Traffic and Vehicle Inspection Officers (VIO), Engr. Akobo Monibo, alongside other executive officers of the agency, received the leadership of the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Employees (AUPCTRE), Rivers State Council, during a courtesy and interactive meeting held at the office of the Chief VIO.

The delegation was led by the State Chairman of AUPCTRE, Comrade Tamunoiminabo Toby, accompanied by other executive members of the union.
Speaking during the meeting, Engr. Akobo Monibo expressed appreciation to the union leadership for identifying with the VIO at this crucial time and commended the union for its commitment towards workers’ welfare and institutional development.

According to him, the responsibilities of the VIO remain enormous and vital to the development of a safer transportation system within the state.

In his response, the State Chairman of AUPCTRE, Comrade Tamunoiminabo Toby, appreciated the warm reception and hospitality extended to the union delegation by the leadership of the VIO.

He explained that the purpose of the courtesy visit was to facilitate the establishment of an AUPCTRE Unit or Chapter within the VIO, noting that the union already has members within the Ministry of Transport and other related agencies.

The chairman further emphasized the benefits of union membership, especially in promoting workers’ welfare, unity, cooperation, and professional representation within government establishments.

Also speaking during the meeting, the Deputy Chief VIO, Comrade Livings Denoi, appreciated the union for the visit and welcomed the move towards establishing a VIO Chapter of AUPCTRE, describing it as a positive step toward strengthening collaboration and staff welfare within the agency.

Other personalities present during the meeting included Sup. Stella Jacks and the State Secretary of AUPCTRE, Comrade Okpeyeme Adebajo, alongside other officials from both organizations.

The meeting ended on a cordial note, with both parties reaffirming their commitment to partnership, institutional growth, and the promotion of efficient service delivery in Rivers State.

Rivers

NEMA Launches Response Against Flood In Rivers

Published

14 hours ago

May 29, 2026

The Tide

The National Emergency Management Agency (NEMA) has launched its 2026 flood disaster response campaign as flooding threats loom in Rivers and 21 other states across the country.

NEMA’s Director-General, Mrs. Zubaida Umar, flagged off the exercise during a stakeholders’ engagement in Port Harcourt.

The campaign is themed “Strengthening Disaster Risk Governance for a Resilient Nigeria.”

Represented by the agency’s Acting Director, South-South Zonal Directorate, Mr. Eric Ebhodaghe, Umar said the campaign was designed to drive early and coordinated action to save lives and livelihoods before the imminent flood.

”The campaign further seeks to promote proactive disaster management through stronger institutions and define clearer responsibilities among stakeholders.

“Each year, lives are lost, livelihoods are disrupted, and public and private infrastructure worth billions of naira are damaged.

“Communities also bear the burden of injuries, displacement, and the loss of life savings due to unmitigated flood events and their secondary effects”, she said.

Umar continued that the 2026 flood outlook predicted that 22 states and the FCT, covering 132 local government areas, fall within high flood-risk zones.

She added that another 14 states, covering 148 local government areas, had been classified as moderate-risk areas.

The NEMA boss explained that the agency had already convened an expert review meeting to assess the implications of the forecasts and develop strategies to minimise anticipated impacts.

She identified likely challenges to include delayed or erratic rainfall, shorter growing seasons, above-normal rainfall in some areas, prolonged dry spells, and rising temperatures.

“These factors are expected to affect key sectors such as agriculture, healthcare, transportation, energy, water supply, education, and overall public wellbeing”, she said.

She further disclosed that NEMA had developed a 2026 Climate-Related Risk Management, Preparedness and Mitigation Framework to reduce flood impacts nationwide.

According to her, the framework includes capacity building for local responders, simulation exercises, strict adherence to weather advisories, prepositioning of relief materials, infrastructure integrity assessments, and development of community evacuation plans.

The NEMA boss said the agency had also identified flood risk profiles for vulnerable communities through its flood early warning system and procured vulnerability maps to support planning.

“Beyond this engagement with stakeholders, the agency is deploying technical teams to all states of the federation for direct community outreach.

“These efforts will be supported by State Emergency Management Agencies, Local Emergency Management Committees, and community volunteers”, she said.

Umar called on traditional rulers, religious organisations, women and youth groups, the media, and private sector to support the dissemination of early warning information.

Also speaking, the Head of Emergency and Disaster Management at the Rivers State Emergency Management Agency (SEMA), Mr. Tamunosiki Ogbanga, said the agency had commenced evaluation and monitoring of flood-prone areas across the state.

Ogbanga said SEMA, under the Rivers State Ministry of Special Duties, had begun reviewing possible mitigation measures and monitoring flood flashpoints to reduce the impact of flooding on residents.

“Our plan for the evacuation of residents in flood-prone areas is part of our ongoing evacuation and monitoring exercise”, he said.

Ogbanga explained that residents in vulnerable communities would be relocated to safer locations whenever the need arises.

“Where they cannot get a safe place, SEMA will relocate them to temporary Internally Displaced Persons camps and provide the necessary support”, he added.

He reaffirmed the agency’s commitment to working with relevant stakeholders to strengthen flood preparedness and emergency response across Rivers State.

Wokoma Emmanuel & Theresa Frederick

Rivers

Monarch Attributes State’s Development To Peace, Unity

Published

16 hours ago

May 29, 2026

The Tide

The Eze Oha Evo III of Evo Kingdom, His Majesty King Leslie N. Eke, has attributed the steady development witnessed in Rivers State to what he described as the peaceful and purposeful leadership style of the State Governor, Sir Siminalayi Fubara.

Eke stated this recently while chatting with newsmen at his palace in Woji Community, Obio/Akpor Local Government Area.

The chat was part of his reactions on the activities marking the 59th anniversary of the creation of Rivers State and the celebration of the Governor’s three years in office.

The royal father noted that since the creation of Rivers State on May 27, 1967, the state had passed through different political, economic and security challenges, but that the present administration had sustained relative peace across the state.

According to him, peace remains the bedrock of development, stressing that no society can attain meaningful growth and infrastructural advancement in an atmosphere of rancour and instability.

The Nyerisi Eli Woji cum Eze Woji XII, commended the Governor for promoting unity among the diverse ethnic nationalities in the state, adding that “the Governor’s calm disposition and inclusive style of governance had contributed immensely to the prevailing harmony being enjoyed in many parts of the state.”

The monarch, who is also the Chairman of the Supreme Council of Ikwerre Government Recognized Traditional Rulers, observed that the administration had continued to record visible achievements in critical sectors of the economy despite prevailing political tensions in the state.

He further stated that the Governor had demonstrated maturity and commitment in the handling of state affairs, particularly in security and community relations, which he said had encouraged investors and businesses to operate without fear.

King Eke explained that traditional rulers across the state remained key stakeholders in the sustenance of peace, noting that the synergy between the government and traditional institution had helped in addressing communal disputes and youth restiveness in some areas.

The first class monarch urged Rivers people to continue supporting the present administration in order to consolidate on the gains already recorded in infrastructural development, healthcare delivery and human capital development.

He also called on political actors and stakeholders in the state to place the interest of Rivers State above personal ambitions, saying that the progress of the state should remain a collective responsibility of all citizens.

The royal father appealed to youths in the state to shun violence and criminal activities, while embracing dialogue, education and legitimate means of livelihood that would contribute positively to the growth of the state.

He expressed optimism that Rivers State would continue to experience greater peace, unity and development under the Governor’s leadership, and prayed for wisdom and strength for him as he pilots the affairs of the state.

King Onunwor