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

Rivers Police Uncovers Firearm Concealed In Loaf Of Bread

Published

17 hours ago

June 29, 2026

The Tide

The Rivers State Police Command has foiled what appeared to be a criminal operation and recovered an illegal firearm ingeniously concealed inside a loaf of bread during a routine security operation in Port Harcourt.

This was contained in a statement by the Public Relations Officer, Rivers State Police Command, Blessing Agabe in Port Harcourt.

According to the statement, the operation formed part of intensified crime prevention measures directed by the Commissioner of Police, Rivers State Command, CP Olugbenga Adepoju, aimed at strengthening internal security and curbing criminal activities across the state.

The Command disclosed that the breakthrough occurred along Azikiwe Road by Red Cross Junction, Port Harcourt, when operatives on routine stop-and-search duty intercepted a vehicle and carried out a detailed screening of passengers and their belongings.

During the search, officers reportedly discovered a Browning pistol carefully hidden inside a loaf of bread allegedly belonging to one Braya Nanas, identified as a male resident of New Road, Borikiri, Port Harcourt, who was travelling in the vehicle.

Police said the unusual concealment method immediately raised suspicion, leading to the suspect’s arrest and further investigation into the circumstances surrounding the possession of the firearm.

Preliminary findings, according to the Command, revealed that the recovered pistol had no visible serial number, creating concerns over its source and possible intended use.

Investigators further quoted the suspect as allegedly admitting ownership of the weapon and stating that he purchased it in Okrika at the rate of N800,000.

Reacting to the development, the Commissioner of Police, CP Olugbenga Adepoju, warned that criminal elements continue to adopt increasingly deceptive methods to evade security checks and law enforcement surveillance.

He urged residents of Rivers State to remain alert and security conscious, stressing that the discovery of a firearm hidden inside an everyday food item underscores the need for heightened public vigilance.

The Police Commissioner also cautioned members of the public against accepting, transporting or keeping items whose contents are unknown, noting that such actions could unknowingly aid criminal activities.

The Command, therefore, called on residents to sustain collaboration with security agencies through timely and credible information sharing, insisting that effective policing remains dependent on active community participation and collective responsibility in building a safer Rivers State.

King Onunwor

Rivers

Okrika LG Flags-off TAPP Empowerment Programme, Phase II

Published

17 hours ago

June 29, 2026

The Tide

As part of efforts to enhance his administration’s commitment to economic empowerment, job creation, and sustainable development across the Local Government Area (LGA), the Chairman of Okrika LGA, Hon. Akuro Alfred Tobin, has officially flagged off the second phase of the Tobin Akuro Prosperity Pathway (TAPP) Programme.

The flag-off ceremony, held at the Conference Hall of the LGA’s Council Secretariat, marked another milestone in the council’s drive to improve the socio-economic wellbeing of residents through targeted empowerment initiatives.

The event attracted key government officials and stakeholders, including the Secretary to Okrika Local Government Council, Hon. Oforiokuma Kwani; the Special Adviser on Empowerment, Hon. Adokiye Ogbogara; members of the Empowerment Committee; and other council officials.

In a symbolic presentation during the ceremony, the Empowerment Committee, led by its Chairman, Hon. Kingsley Ibanichuka, presented a specially designed photo frame and a commemorative photo book showcasing the achievements and impact of the first phase of the programme.

The committee also unveiled and presented the official branded polo shirt and fez cap for Phase II of the empowerment initiative to the Chairman.

Speaking during the event, the Chairman commended members of the Empowerment Committee for their dedication, transparency, and commitment in implementing the programme.

He noted that the success recorded in the first phase had encouraged the administration to expand the initiative in order to reach more residents and create greater economic opportunities.

According to the council boss, the Tobin Akuro Prosperity Pathway Programme was conceived as a strategic intervention aimed at reducing poverty, stimulating local enterprise, and equipping youths and entrepreneurs with the resources and skills needed to become self-reliant and productive members of society.

He disclosed that under Phase II of the programme, about 400 business owners and traders across Okrika would receive cash grants to strengthen and expand their businesses.

The intervention, he said, is expected to boost small-scale enterprises, enhance household incomes, and stimulate economic activities within the local economy.

Tobin further revealed that hundreds of youths would benefit from sponsored vocational and technical skills acquisition programmes in various fields, including scaffolding, fashion designing, welding, makeup and gele artistry, Total Glam, and several other vocational trades considered relevant in today’s economy.

The Chairman emphasized that the initiative goes beyond financial support, stressing that the programme is designed to build human capacity, encourage entrepreneurship, and create a pathway for sustainable wealth creation among beneficiaries.

“Our vision is to empower our people with the tools, knowledge, and opportunities they need to succeed. We believe that when individuals are economically empowered, families become stronger, communities become more prosperous, and development becomes sustainable”, he stated.

He urged prospective beneficiaries to make the most of the opportunity by applying themselves diligently to the skills training and utilizing the grants responsibly to achieve long-term economic growth.

Tobin also reassured residents that his administration would continue to implement people-oriented policies and programmes aimed at improving living standards and expanding opportunities for all segments of society.

Observers at the event described the TAPP initiative as one of the most impactful empowerment programmes undertaken by the present administration, citing its focus on entrepreneurship development, youth engagement, and poverty reduction.

Meanwhile, the main empowerment event has been scheduled for Wednesday, July 8, 2026, during which beneficiaries are expected to receive cash grants and vocational training support packages.

Since its inception, the TAPP has emerged as the flagship empowerment programme of the Okrika Local Government administration, touching lives across communities and reinforcing the council’s commitment to inclusive growth, economic prosperity, and the overall welfare of the people of Okrika.

The commencement of Phase II is expected to further consolidate the gains of the programme, while opening new opportunities for hundreds of residents seeking economic advancement and self-sufficiency.

Michael T. Abraham

Rivers

Urban Development Ministry, Others Strengthen Collaboration On Building Safety

Published

17 hours ago

June 29, 2026

The Tide

The Rivers State Commissioner for Physical Planning and Urban Development, Hon. Amairigha Hart, has said the Ministry has intensified efforts to improve the safety of buildings through stronger collaboration with the National Emergency Management Agency (NEMA) and the Federal Housing Authority (FHA).

Amairigha, who said this at a strategic inter-agency meeting held in Port Harcourt, weekend, disclosed that the collaboration is aimed at establishing a unified operational framework to prevent overlaps and ensure coordinated action among agencies involved in the built environment.

Stressing the importance of collaboration in preventing structural failures and building collapses, the Commissioner said the regulatory and emergency response agencies must work together to ensure strict compliance with approved building standards and due process at every stage of construction.

He commended the prompt response of the Federal Housing Authority and NEMA to the recent building collapse along Peter Odili Road, describing their swift mobilisation as crucial to ongoing rescue efforts.

Providing an update on the incident, Hart disclosed that search, rescue and evacuation operations were still in progress.

He added that technical teams were carrying out a controlled demolition of the remaining lift shaft and stair core to prevent a secondary collapse and safeguard rescue personnel as well as neighbouring properties.

The Commissioner further emphasised that collaboration among agencies should go beyond emergency situations, noting that proactive monitoring and enforcement are essential to preventing future construction-related disasters.

The meeting ended with participants harmonising operational information and agreeing on measures to strengthen supervision, compliance monitoring and joint inspections of ongoing and future construction projects across Rivers State.

The resolution is expected to enhance coordination among state and federal agencies and promote safer building practices in the state.

King Onunwor