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

2026 Boy Child Day: Association Seeks Intentional Mentoring

Published

10 hours ago

May 18, 2026

The Tide

As the world marked the 2026 International Day of the Boy Child last Saturday, the Rivers Secondary Schools Old Boys and Girls 1983 Set Association has called for deliberate investment in raising boys who will become responsible heads of homes.

In a press release signed and issued by the Secretary-General of the Association, Dr. Ibinabo Ogolo, to commemorate the day, the Association said the future stability of Nigerian families depends on how intentionally boys are raised and guided.

Speaking on behalf of the Set, President of the Association, Barrister Tubokomba Mcdonald Harry, she said the theme of this year’s global celebration, “Boys to Men: Adopting Good Habits and Attitudes”, must move beyond slogans to daily practice in homes, schools, and communities.

“For years, advocacy has rightly centered on the girl child. That work must continue. But we cannot ignore the other side”, Barrister Harry stated.

“A boy who grows up without guidance, emotional literacy, and responsibility often becomes a man who struggles to lead, provide, and protect. If we want stable homes in 2040, we must invest in boys now”, he said.

He emphasized that being “head of the home” is about stewardship, not power: “The man who leads a home well is emotionally responsible, financially disciplined, morally upright, and a true partner to his spouse. These qualities are learned from childhood, through what boys see, hear, and practice.”

The Association noted that many boys currently learn manhood by default from peers, social media, and entertainment that equate masculinity with aggression and silence about pain.

To change this, the 1983 Set urged fathers and mentors to be present and active, schools to integrate life skills such as conflict resolution and financial literacy, and communities and faith groups to establish mentorship programmes where older men guide younger ones.

The press release also linked the issue to Africa’s wider goals, noting that the 2026 Day of the African Child focuses on water, sanitation, and hygiene.

“A boy trained to solve real problems becomes a man who ensures dignity for his family and community”, Harry said.

The Association concluded with a call to mothers, fathers, and boys themselves to take ownership of the task of raising responsible future leaders.

International Day of the Boy Child is observed globally on May 16. It is a day that focuses on the well-being, mental health and positive development of boys.

Rivers

Ogoni Landlords Seek Inclusion In Planned Oil Resumption Process

Published

10 hours ago

May 18, 2026

The Tide

Flemotongha Miebi/Fortune Wokeh/Akpos David/Esuuk Oyet/Edughom Suotor

Landlords in Ogoni, under the aegis of Gokana,Tai, Eleme, and Khana United Landlords Association (GOTEKA) have called for inclusion in the ongoing negotiation over the planned resumption of oil production in Ogoniland.

The landlords,who made the call during its formal inauguration recently in Port Harcourt, also called for proper compensation, clear legal agreements, and inclusive dialogues in the entire process

Chairman of the Association, Professor George Ema, said any resumption of oil exploration in ogoniland without proper consultation with host communities and land owners will be resisted.

George said, while the association expressed support for the planned return of oil activities in ogoniland under the administration of President Bola Ahmed Tinubu, key historical issues must be addressed to avoid a repeat of earlier conflicts that led to the suspension of oil operations in the area.

According to GOTEKA, past disagreements between oil companies, political leaders, and host communities caused crises, court cases, and long-term disruption of oil production in Ogoni land, adding that these problems were responsible for the high level of poverty warranted by economic stagnation, social unrest, pipeline vandalism, and many legal battles in the area.

The landlords also referenced the struggles led by late environmental activist, Ken Saro-Wiwa, and the Movement for the Survival of Ogoni People (MOSOP), which opposed Shell’s activities in Ogoni land, resulting in years of unrest and court cases.

They stressed that the renewed plan for oil exploration must be guided by proper Memoranda of Understanding (MOU), fair compensation, and the direct involvement of landlords in negotiations to prevent cheating and conflict.

The group also raised concern over what they described as a repeated “divide and rule” approach in handling oil compensation in Ogoni. They said there is a lack of proper MOUs between oil companies and landlords, while compensation often goes to political leaders and traditional rulers instead of the real landowners.

GOTEKA added that land in Ogoni is owned by individuals and families, not the entire community.

According to the group, “under traditional land rules, owners have full rights over their land and can decide how it is used, including selling or leasing it. So, there must be proper agreement spelt out in the MOU, which must be signed by all the parties involved to avoid legal battles.

The group urged government, oil companies, and political leaders to respect traditional land ownership and adopt honest dialogue and peaceful negotiation in resolving issues.

Rivers

Police Warn Rivers Students Against Cultism, Drug Abuse

Published

10 hours ago

May 18, 2026

The Tide

The Divisional Crime Officer (DCO) of Rumuodomaya Police Station, CSP Dindara Dadamu, has warned students in Rivers State against involvement in cultism and other criminal activities, stressing that such acts could lead to imprisonment and destruction of their future.

He gave the warning recently during an anti-cultism and drug abuse sensitisation programme organised by the Niger Delta Development Commission (NDDC) at Den-Bec Group of Schools in Port Harcourt.

Dadamu stated that the law does not exempt minors from punishment, noting that children from the age of 12 could still be prosecuted for criminal offences.

According to him, many young people are lured into cultism through peer pressure and bad company. He urged the students to be mindful of the friends they associate with.

The DCO stressed that ignorance of the law would not protect anyone from facing the consequences of unlawful conduct.

Also speaking, a representative of the National Drug Law Enforcement Agency (NDLEA), Mr. Ejiofor Ifeanyi, described cultism and drug abuse as destructive habits capable of ruining academic ambitions and promising careers.

He advised the students to avoid negative influences and remain focused on their education and personal development.

A mental health expert, Mr. Victor Akeni, noted that cultism and illicit drug use contribute significantly to emotional instability, fear and poor academic performance among youths.

He explained that cult members often live under constant fear of attacks and reprisals, making it difficult for them to concentrate on their studies or live peacefully.

The sensitisation programme brought together security agencies, mental health professionals, teachers and students as part of efforts to discourage social vices among young people.

The Managing Director of NDDC, Dr. Samuel Ogbuku, who spoke through a representative, Mrs. Anna West, encouraged the students to take advantage of opportunities provided through education and technology rather than engaging in unlawful activities.

Ogbuku also warned that cultism and drug abuse could result in imprisonment, violence and untimely death, and urged the students to embrace discipline, hard work and positive values.

By: King Onunwor