Mohammed Metteden
From catalysing oil and gas potential to optimising gas production, diversifying consumption, and addressing gas flaring challenges, debates about hydrocarbon production in Nigeria continue to dominate the energy scene.
As Africa’s largest crude oil exporter, with an output of almost two million barrels per day, global investors and business leaders are urging Nigeria to optimise and diversify its oil resources, especially considering the oil price volatility caused by the COVID 19 pandemic.
McKinsey Global Institute (MGI) identified Africa as the next frontier for growth and opportunity, highlighting the need for Nigeria to incentivise investors into its oil and gas industry. In Nigeria, almost two-thirds of production comes from shallow-water and onshore fields, creating demand for investments that will improve production and create additional reservoirs. Yet, despite this, it remains largely unclear what the future holds for oil production in Nigeria.
The future of oil and gas in Nigeria: Renewed obligations from private sector thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
By Solomon Asowata Lagos, May 25,2021 The Nigerian National Petroleum Corporation (NNPC) has urged indigenous companies to take advantage of opportunities in the upstream sector to become key players in the industry. Mr Adokiyevl Tombomieye, Chief Operating Officer, Upstream, NNPC, gave the advice on Tuesday at the
Advertisement
In a statement by the company, Igiehon brings over 27 years of experience and expertise in the oil and gas sector with Shell, where he held a series of senior management positions.
Prior to joining the energy firm, he served as vice-president of Royal Dutch Shell in Hague, Netherlands and also as chairman and CEO of Shell Garbon.
Commenting on his appointment, Igiehon said: “HHOG represents an extraordinary opportunity, to create Africa’s first true integrated energy company, with a mission to ensure that Africa’s natural resources are directed toward value creation in Africa, powered by sustainable, robust and abundant African energy.
Heirs Oil & Gas (HHOG) (www.HeirsOilandGas.com), the leading African integrated energy company, has announced the appointment of
Osayande Igiehon as Chief Executive Officer, effective May 4, 2021, together with a distinguished non-executive board, bringing together leading industry figures, with considerable global and regional experience.
Heirs Holdings Limited’s (HH) portfolio company, HHOG, completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion. The transaction represents a further implementation of the HH Group strategy of creating the leading integrated energy business in Africa. Through a series of strategic portfolio holdings, HH is executing this strategy. Most recently, affiliate company, Transcorp made a US$300 million acquisition of Afam Power, increasing the Group’s installed electricity generating capacity to 2,000MW.