Some of most important developments in oil & gas since PMB took office:
1. The renegotiation of Cash Call Arrears with IOCs & scheduled repayments by @NNPCgroup. As of July 2019, Exxon Mobil had been paid almost a billion dollars to clear debts owed them m.guardian.ng/news/nnpc-sett…
1. The renegotiation of Cash Call Arrears with IOCs & scheduled repayments by @NNPCgroup. As of July 2019, Exxon Mobil had been paid almost a billion dollars to clear debts owed them m.guardian.ng/news/nnpc-sett…
See:
Here’s Shell’s testimony:
Next on my list (not necessarily in order of importance) is the Modular Refinery Initiative under the New Vision for the Niger Delta @ndnewvision.
Details here:
Details here:
Also this update:
So this thread covers both Govt & private initiatives- over last 4.5 years.
We’ve seen FIDs on
- Assa North Gas Project (SPDC)
- NLNG Train 7
Progress on 614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project
& EGINA FPSO began operations, a year ago:
We’ve seen FIDs on
- Assa North Gas Project (SPDC)
- NLNG Train 7
Progress on 614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project
& EGINA FPSO began operations, a year ago:
The DANGOTE Refinery Project has seen tremendous progress since construction started 2016. When completed in 2021/22 it will be the largest single-train Refinery in the world. @NigeriaGov supporting the project through @cenbank: energymixreport.com/cbn-providing-…
This year ENI made a huge gas discovery in Nigeria, estimated to add a Trillion cubic feet to Nigeria’s reserves
One Initiative I’m very excited about is the Nigerian Gas Flare Commercialization Programme (NGFCP) - approved by FEC in 2016 and launched by @FMPRng in December 2016. (Related to this are the new Gas Flaring Regulations approved by PMB in 2018)
NGFCP:
I think the Programme is somewhat behind schedule so will be looking to see some good progress in 2020.
I think the Programme is somewhat behind schedule so will be looking to see some good progress in 2020.
In 2019, the long overdue Amendment of the Deep Offshore and Inland Basin Production Sharing Contract Act. Easily one of the most momentous things to happen in/to Nigeria’s oil industry and to @NigeriaGov (from a fiscal POV) in decades:
