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Hydrocarbon deposits discovered in Benue

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The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North-Eastern part of the country.

The  drilling of the Kolmani River II Well was flagged-off in a colourful ceremony by President Muhammadu Buhari on the 2nd of February, 2019.

A statement by the Corporation’s Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, explained that NNPC acquired 435.54km2 of 3D Seismic Data over Kolmani Prospect in the Upper Benue Trough, Gongola Basin.

This, according to him was to evaluate Shell Nigeria Exploration and Production Company (SNEPCo) Kolmani River 1 Well Discovery of 33 BCF and explore deeper levels.

The well was drilled with “IKENGA RIG 101” to a total depth of 13,701feet encountering oil and gas in several levels. A Drill Stem Test (DST) is currently on-going to confirm the commercial viability and flow of the Kolmani River reservoirs.

The Corporation further explained that on Thursday 10th October, 2019, at 18:02hours, one of the reservoirs was perforated and hydrocarbon started flowing to the well head at 21:20hours in which the gas component was flared to prevent air charge around the Rig.

Preliminary reports indicate that the discovery consists of gas, condensate and light sweet oil of API gravity ranging from 38 to 41 found in stacked siliciclastic cretaceous reservoirs of Yolde, Bima Sandstone and Pre-Bima formations.

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Computation of hydrocarbon volume is on-going and will be announced in due course.

The Corporation has also acquired additional 1183km2 of 3D seismic data over highly prospective areas of Gongola Basin with a view to evaluating the full hydrocarbon potential of the Basin.

NNPC has deployed world class cutting-edge technologies including Surface Geochemistry, Ground Gravity/Magnetic, Stress Field Detection, Full Tensor Gradiometry aerial surveys to de-risk exploration in the frontier basins.

The NNPC plans to drill additional wells for full evaluation of the hydrocarbon volume in the Gongola Basin.

It would be recalled that during the spud-in ceremony of Kolmani River II, President Muhammadu stated the commitment of his administration to the exploration for Oil and Gas in the frontier basins in the entire length and breadth of the country. The basins include: the Benue Trough, Chad Basin, Sokoto and Bida Basins.

He also stated that attention would be given to the Dahomey and Anambra Basins which have already witnessed oil and gas discoveries.

The discovery of oil and gas in commercial quantity in the Gongola Basin will attract foreign investment, generate employment for people to earn income and increase government revenues.

 

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Nigeria, Ghana top list of markets to watch for key project developments

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In its African Energy Outlook 2020 report launched last month, the African Energy Chamber (“The Chamber”) highlighted the importance of increased infrastructure capacity in Africa’s long-term industrial development.

Spotlighting the $12 billion Dangote Refinery in Nigeria and Ghana’s Tema LNG Terminal, the Chamber noted essential role such projects play in revamping the sector and creating opportunities for private sector investors.

“At a time when the low oil price is gripping treasury revenues, private capital is developing key oil and gas infrastructure projects which could have a significant impact on the African energy and power landscape over the next decade,” the report said.

On the Dangote Refinery, the Chamber called attention to the current state of Nigeria’s infrastructure and the contribution the project would have specifically as the country works towards tripling its refining capacity to 1.5 million bpd by 2025 as a means to reduce its reliance on fuel imports.

To this, the report said, “the refinery’s tank farms are set out for completion in Q4-19 and they may be used as a depot before the refinery’s production starts. This would provide an immediate increase to fuel storage capacity.”

Ghana’s determination to become sub-Saharan Africa’s first LNG importer in 2020 is set to become a reality as the Tema LNG terminal project nears completion. The project will be able to cover 25 percent of Ghana’s total electricity generation capacity, with gas providing a cheaper alternative to oil.

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“The deal with Rosneft enables Ghana to diversify gas imports away from Nigeria, which has consistently failed to provide the agreed level of supply since the West African Gas Pipeline started operating (back in November 2011),” the Chamber explained. Adding that the emergence of offshore storage and regasification technology is enabling smaller, lower-risk, rapid LNG solutions that could be replicated elsewhere in the region in countries with substantial gas reserves.

Now available for free download on the website, the African Energy Outlook 2020 also features the 25 Movers and Shakers to Watch list which highlights key industry players that are set to have a great impact on the future of Africa’s energy and economic development. The list includes Donald J. Trump President Of The United States of America; Mustafa Sanalla Chairman, National Oil Corporation, Libya; Abdel Fatah Al-Sisi President Of Egypt; Dr Omar Mithá Chairman & Ceo, Enh Mozambique and Tope Shonubi Managing Director, Sahara Energy.

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Ecobank wins Bank of the Year, Best Bank in prestigious London awards ceremonies

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Ecobank wins “Bank of the Year” and “Best Bank” at The Banker and EMEA Finance Awards in London.

Ecobank Cameroon, Gambia and Rwanda won Bank of the Year at The Banker Awards on 28thNovember. This recognition came just before Ecobank Cabo Verde, Gambia, Liberia and Zimbabwe won Best Bank at the EMEA Finance African Banking Awards on 5th December. The Banker is the most prestigious global financial publication and EMEA Finance is widely read by the international banking community.

Ade Ayeyemi, Group CEO of Ecobank said: “We are pleased to be recognised as ‘Bank of the Year’ and ‘Best Bank’ in two distinguished award ceremonies in London. This confirms the strength of our brand in multiple countries across Africa, our unique pan-African platform and innovative banking products and solutions. Indeed, our One Bank strategy is providing the desired banking excellence for our consumer, commercial and corporate customers across the 33 countries in which we operate on the continent.”

The judging panels were impressed by Ecobank’s sound management, business model and strategic initiatives as well as its pioneering technology. They highlighted the bank’s recent innovations, including digitalised trade finance products, Ecobank Online & Omni Lite, digital payment solution, Ecobank Pay, and cross-border remittance solution, Rapidtransfer. These products are transforming the banking sector and empowering African businesses by providing accessibility and affordability.

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Dangote Honours 160 Staff at Long Service Award Ceremony

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Dangote Industries Limited recently presented 160 employees with long service award in recognition of their commitment, loyalty, exceptional service and invaluable contribution to the growth of Africa’s most admired brand over a period of 10 to 30 years and above. Post-humous awards were also given to ex-employees who lost their lives during their time of service at the organization.

At the Dangote Long Service Award, hosted by the Group Managing Director, Dangote Industries Limited Mr. Olakunle Alake, celebrated members of staff were each given a certificate of recognition, an award plaque, financial reward and ovation from other members of staff, family members and friends of the awardees.

During the ceremony, 29 staff were awarded with 10 – 14 years’ of service awards; 85 employees  with 15 – 19 years’ of service; 29 employees with 20 – 24 years’ of service; 13 employees with 25 – 29 years’ of service and 4 employees were also honored with 30 years’ of service awards.

Remarkably, 12 staff who had passed on while in active duty to DIL, were eulogized and post-humous awards were given to their families for their dedicated service ranging from 10 to 39 years.

The Group Executive Director, Logistics and Distribution, Dangote Industries Limited, Alhaji Abdu Dantata, emerged the highest living awardee for his 36 years of service, while the Group Managing Director, Mr. Olakunle Alake, who gave the welcome remarks, was given an outstanding ovation for his 29 years of loyalty in service to the organization.

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In his keynote address, the Group President/CE of Dangote Industries Limited, Aliko Dangote, commended all the awardees for their loyalty, commitment and dedicated service over the years; all of which had contributed to elevate the company from a trading concern founded in 1981 to one of the largest manufacturing conglomerates in Africa today, with a household name in Nigeria and a global brand to boot. He noted that employees, especially the awardees, were crucial part of the global success story which Dangote Industries has become today.

According to him, “I want to say a very big thank you to all of us here tonight. Indeed, loyalty is royalty and the successful growth of our company is a direct result of your excellent service. Your loyalty upholds our core principles and our continuous growth is based on a culture of resilience and loyalty.

“Today, we celebrate your individual and collective successes and our breakthrough was due to your investment of many years of loyal service. I encourage you to remain dedicated and committed. We deeply appreciate you and your efforts. Thank you very much”, Dangote added.

Africa’s wealthiest and foremost philanthropist, who personally presented the awards to all the awardees that have served DIL for 25 years and more and to the families of all the post-humous awardees, was likewise presented with a surprise gift of a framed picture of himself with the names of all the 160 awardees embedded by the organizing committee led by the Group Managing Director, Mr. Olakunle Alake.

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Their overall gratitude at the award, gift and honor was aptly captured by a staff in the security department, Mr. Samanja Umaru, who was rewarded for his 20 years of service to the company. Samanja, who effusively narrated how Dangote has transformed his life and family, pledged his undying loyalty to the organization which has given him so much.

According to Samanja, “Dangote is a blessed man and Dangote (DIL) is a good company. I began working with Dangote way back in 1981 at the warehouse where we were paid N10 daily. God bless Alhaji Dangote. He carries everybody along, whether Hausa, Yoruba, Ibo, anyone. Alhaji Dangote changed my life. He is a blessed man”

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