Page 12 - AfrOil Week 29

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He said that NNPC would work with Shell to expedite action on some crucial deepwater projects and create enabling environment
to entrench the ideals of transparency and enduring governance framework for the industry.
Speaking earlier on behalf of the Shell delegation, Osagie Okunbor, Managing Director of SPDC and Chairman of Shell Companies in Nigeria, congratulated the NNPC GMD on his appointment while expressing con dence in his ability to steer the industry to enviable height.
Okunbor said Shell was in sync with Kyari’s vision and growth trajectory for the industry as laid out in his blueprint.
He noted with interest the push towards renewed transparency and openness, stating that the essence of the visit was to “underline our un inching support for you and your team”.
nnPC, july 16, 2019
NNPC to supply India’s national crude oil demand
e Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to continue to supply 10% of India’s crude oil demand in the face of competing demand
for the product from other countries. is commitment was made today by the Group Managing Director of the NNPC, Mallam Mele Kyari, during a visit by the Indian High Commissioner to Nigeria, His excellency, Abhay akur, a press release by the corporation’s Group General Manager, Group Public A airs Division, Mr. Ndu Ughamadu, stated.
e GMD stated that Nigeria, through the corporation, would continue to support India’s energy security, adding that the recent Memorandum of Understanding in the area of energy between Nigeria and India would be consummated to further strengthen the bilateral relations between the two countries.
Mallam Kyari stated that NNPC was desirous of growing the energy cooperation with India and that it was time to progress from just talking to walking the talk.
earlier, the Indian High Commissioner
to Nigeria, His excellency Abhay akur, thanked the management of the corporation for the recent renewal of the crude oil term contracts for three Indian companies and sued for increment in the crude oil supply in view of the increasing energy needs of India.
He disclosed that India was ready
to provide credit line mechanisms and expertise to help NNPC revamp its massive infrastructure across the country.
nnPC, july 18, 2019
Pipeline woes down in Nigeria, NNPC reports
e Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus
of N6.33 billon for the month of May 2019,
a gure which is 13 per cent higher than the N5.60 billion surplus posted in the preceding month of April 2019.
e report further indicated that within the period, the NNPC recorded a total of $580.32 million in export sale of crude oil and gas which is 23.39 per cent higher than the previous month’s gure. Out of this number, crude oil export sales contributed $458.59 million which translates to 79.02 per cent of the entire dollar transactions compared with $342.11 million contributed in the previous month.
e report also showed that between May 2018 and May 2019, crude oil and gas worth $5.97 billion was exported.
Within the period, a total of 60 pipeline points were vandalized which represents a remarkable 52% decrease from the 125 points vandalised in April 2019.
e Atlas Cove-Mosimi and Ibadan-
Ilorin pipelines accounted for 38% and 23% respectively and other locations accounted for the remaining 39 percent of the total breaks. e report noted the spirited e orts by NNPC in collaboration with the local communities and other stakeholders to continuously
strive to reduce and eventually eliminate this menace.
nnPC, july 21, 2019
Keppel secures contracts from repeat customers
Keppel O shore & Marine Ltd (Keppel O&M)
has through its wholly-owned subsidiaries, Keppel FeLS Limited (Keppel FeLS) and Keppel Shipyard Ltd (Keppel Shipyard), secured contracts from repeat customers worth approximately S$130 million for a newbuild dredger and the modi cation of a Floating Production Storage and O oading vessel (FPSO).
Chris Ong, CeO of Keppel O&M, said, “We are pleased to secure these contracts from repeat customers as it re ects the market’s con dence in Keppel O&M’s customised solutions for newbuild vessels and FPSO conversions. is is the third newbuild dredger for Van Oord and the third FPSO project for Yinson. We are able to leverage
the experience of working closely with our customers as well as our engineering and construction expertise to further improve productivity on their projects.”
e second contract is between Keppel Shipyard and Yinson Nepeta Production,
a wholly-owned subsidiary of Yinson Production Pte Ltd (Yinson), for the fast-track modi cation and upgrading of FPSO Allan. Keppel Shipyard’s scope of work includes refurbishment and life extension works, fabrication and installation of a new riser balcony, spread mooring system and helideck, as well as modi cation of the vessel’s topsides and marine systems.
e project for Yinson is scheduled to commence in 3Q 2019 with delivery expected in 1Q 2020. Upon completion, the FPSO will have a storage capacity of 700,000 barrels of oil and a processing capacity of 60,000 barrels of oil per day. It will be deployed in the Anyala and Madu elds, o shore Nigeria for First exploration and Petroleum Development Co Ltd.
eirik Barclay, CeO of Yinson O shore Production, said, “We have chosen to partner with Keppel Shipyard for this fast-track
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Week 29 23•July•2019