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

MCDI Inducts 150 Professionals In PH

Published

2 days ago

November 24, 2025

The Tide

The Mentoring and Career Development Institute of Nigeria (MCDI) has inducted about 150 new members into various categories of membership during a special induction ceremony and dinner in Port Harcourt.

Aimed at expanding the institute’s membership base, the event offered new inductees an opportunity to engage with senior members and integrate fully into the organisation’s professional network.

The induction ceremony was part of the 2025 national conference of the institute.

National President of MCDI, Dr. Collins Edebiri, administered the oath, while the new members promised to carry out their duties faithfully, following the institute’s rules and constitution.

Dr. Edebiri emphasised the institute’s core mandate of instilling values that will shape individuals and institutions.

He emphasised the theme of the conference, “Mentoring for Individual and Corporate Leadership”, noting that last year’s focus centred on national development and value reorientation.

Edebiri explained that the induction ceremony is a key feature of the institute’s annual conference, though inductions also occur quarterly.

On the criteria for membership, he said the most important factor is the desire to be mentored or the readiness to mentor others, and urged the new inductees to become ambassadors of value-driven leadership in their respective workplaces.

Guest Speaker at the ceremony, Mrs. Ibim Semenitari, who was a former Managing Director of the Niger Delta Development Commission (NDDC), shared her experiences from her early days in journalism, attributing much of her professional growth to strong mentorship.

She encouraged members to embrace mentorship as a catalyst for personal and societal advancement.

Seminitari was later presented an award.

New members, including Wisdom Egberi Woniepiriye, and Mrs. Grace Ajinwanyiekwu, expressed their excitement and hope to be mentored well so they can eventually mentor others.

There were a dinner and networking session, marking another success for MCDI in its efforts to build leadership values nationwide.

By: Theresa Frederick & Charity Amiso

Rivers

Fisherman Gets Thumbs-Up Over Patent Creation

Published

2 days ago

November 24, 2025

The Tide

The Society of Petroleum Engineers (SPE) has commended a renowned fisherman, Mr. Ricky Brown Owunari, for what it described as a remarkable stride in global engineering content creation.

In a congratulatory message signed by the Association, weekend, the SPE said the patented “Dewaxer Flow Enhancer and Downhole Tool” had secured official endorsement under U.S. Patent No. 12,448,868 B2.

They said the development has been highlighted as a significant indicator of Rivers State’s growing intellectual and technological capacity, with observers noting that such breakthroughs position the state as a rising hub for innovation.

According to those familiar with the innovation, the achievement serves as proof that Niger Deltans have moved beyond the era of militancy and are now producing world-class content, research outputs, and technical solutions.

The SPE officials described the patented technologies as timely tools designed to tackle wax deposition in crude oil wells, a major challenge that frequently disrupts production and increases maintenance costs.

They further stressed that the milestone underscores the need for Rivers State to invest more in supporting innovators whose works demonstrate global potential.

Industry experts revealed that the tool originated from years of field observation, experimentation, and rigorous research aimed at improving flow assurance in challenging well conditions.

They also urged the Federal Government to show greater appreciation for home-grown innovations, calling on President Bola Ahmed Tinubu to formally recognise and encourage technological breakthroughs emerging from the Niger Delta.

Stakeholders at the event warned against piracy, emphasising that unauthorised copying of patented technologies undermines national progress and discourages genuine innovators.

Analysts observed that the breakthrough strengthens the narrative of a new Rivers State built on creativity, content development, and technical excellence rather than conflict.

The session concluded with a call for stronger collaboration between government authorities and industry players to protect intellectual property and position Rivers State as a greenhouse for innovation-driven content.

The content, The Tide gathered, is expected to solve critical challenges in the oil and gas sector, as well as other relevant areas of the national economy.

By; King Onunwor

Rivers

NBA Seeks End To Mass Abductions, Targeted Killings

Published

2 days ago

November 24, 2025

The Tide

The Nigerian Bar Association (NBA) has warned against mass abductiond and targeted killings in Nigeria.

President of the NBA, Mazi Afam Osigwe, who gave the warning, noted that Nigeria was faced with a growing wave of violence following fresh attacks in Kebbi and Borno States.

The association issued the warning after terrorists attacked the Government Girls Comprehensive Secondary School in Maga on November 17.

According The Tide’s source, the gunmen killed a teacher and abducted at least twenty-five students during a shootout with security personnel.

The President said the latest attack shows the country has become unsafe for schoolchildren and civilians.

He further noted that Nigeria also lost Brigadier General M. Uba earlier that day in an ISWAP ambush in Borno State.

According to Osigwe, the nation was witnessing a rise in terrorism, kidnapping, and lawlessness that has overwhelmed security agencies, adding that rural communities, travellers, farmers, and security officers are all exposed.

The NBA President also warned that Nigeria was facing a dangerous breakdown of public safety.

Quoting recent reports, he said about 145 people went missing in mass abductions across Kebbi, Niger, and Zamfara within four days.

“The country must stop recording deaths while hoping for peace through negotiations with terrorists”, he said.

The NBA further revealed that recent intelligence alerts, including the DSS warning of ISWAP plans to strike in Ondo and Kogi, show a widening threat.

Osigwe questioned why terrorists still control forests and highways without challenge, with criminals levying taxes on communities, displace families, and attack convoys.

The NBA demanded an urgent national security overhaul with transparency and strong political will.

Osigwe, however, praised the teacher who died in Kebbi while protecting students.

By; King Onunwor