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Tony Elumelu’s Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45% participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI. In addition, TNOG Oil and Gas Limited will have sole operatorship of the asset,Niyi Tabiti gathered. The transaction is one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion, provided by a consortium of global and regional banks and investors. OML 17 has a current production capacity of 27,000 barrels of oil equivalent per day and, according to our estimates, 2P reserves of ....
By Niyi Tabiti: This holiday season many people are keen on getting their love ones good gift to celebrate the Christmas and new year. Where to buy gift in Lagos Island is the major focus here. Niyi Tabiti can tell you for free that there are gift shops in Oroyinyin street, Idumota, John Street and Broad street where you can get gifts at whole sale and affordable prices. If you finish buying clothes or hair at Oluwole or Balogun street, just take a stroll down you will get to broad street. You will see the imposing UBA headquarters building. If you like wearing suits or you want to buy tie as gift for someone, you can check out the Suit warehouse behind Tinubu square or go to Berlin, it is located right on the street of Marina. Check Apongbon for wine and those wonderful well packaged hamper. If you are buying wine in Apongbon be sure they are giving you the real one. Shine your eyes as they say on the street of Laos before they give you adulterated one. Apongbon is also good ....