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The total votes in favour of the resolutions were for condensate and $44/boe for LPG compared Monday, the General Manager, Capacity Build-
48.30% at the Court Meeting and 54.27% at the to $48/bbl and $32/boe respectively in the first ing Division, NCDMB, Dr. Ama Ikuru stated
General Meeting, which were below the mini- half of 2021. that the Board’s commitment towards STEM
mum threshold (75% of those shares voted) Overall production in the first half of 2022 education is driven by the objectives and aspi-
needed to approve the resolutions. Accordingly, was 61,100 barrels of oil equivalent per day rations of the Nigerian Oil and Gas Industry
certain of the conditions of the Scheme were not (boepd), a 5% reduction from 64,000 boepd Content Development (NOGICD) Act of 2010
satisfied and, consequently, the Combination has in the first half of 2021. This was due to a 9% and the Nigerian Content 10-Year Strategic
been terminated and the Scheme has lapsed. production drop in Egypt mainly as a result of Roadmap.
During July 2022, a group of shareholders led natural field decline. Production output in the Ikuru who was represented by the Deputy
by Aleph Commodities Ltd, acquired 25.65% Kurdistan Region Iraq increased by 1%, with Manager, Capacity Building Division, Augustine
of the issued share capital of the Company and production averaging 34,500 boepd in H1-2022 Timbiri explained that STEM education is criti-
in doing so purchased 18.72% of the Company versus 34,300 in H1-2021. cal to the attainment of the Board’s mandate with
previously owned by Waha Capital PSJC. Aleph bna/IntelliNews, August 12 2022 regards to local manufacturing and development
confirmed that it is assisting the Company with of Nigerian materials, products, technologies,
a strategic review and expansion plans with a and solutions required for the growth of Nige-
focus on increasing production, reserves and POLICY rian Content in the Oil and Gas Industry and its
shareholder returns. sectorial linkages.
Aleph Commodities Limited is a global trad- NCDMB teams up He added that “global technology and smart
ing and investment company, founded in 2018 innovation are driven by STEM education and
by former executives of Deutsche Bank, Gold- with Siemens Energy, the desire to meet the ever-expanding human
man Sachs, JP Morgan, Engelhart Commodities needs globally. The global science and technol-
Trading Partners, and Credit Suisse, supported commences STEM training ogy space has witnessed unprecedented compe-
by several large US and European family offices tition and disruptive innovations.”
who are also shareholders of Aleph. for 60 Bayelsa teachers Ikuru highlighted that the programme is
SDX Energy, August 18 2022 aimed at addressing the gaps in STEM educa-
The Nigerian Content Development and Mon- tion in the Nigerian educational system and
Dana Gas profits rise itoring Board (NCDMB) in partnership with equip the trainees with the Experimento STEM
Siemens Energy has commenced the training training modules and delivery models. It will
82% y/y on elevated of 60 primary school teachers in Bayelsa state. also advance the capacities and capabilities of
The training is targeted at introducing inno-
teachers in the teaching and delivery of STEM
prices in H1-2022 vative teaching of Sciences, Technology, Engi- subjects, promote and drive STEM education in
neering and Mathematics (STEM) education the Nigerian educational system and enhance
Profits at Dana Gas, the Middle East’s largest to the young generation and is being held at the Nigeria’s global competitiveness. He hinted that
regional private sector natural gas company, NCDMB headquarters, Swali, Yenagoa, Bayelsa the teachers were nominated by the Bayelsa State
with operations in Egypt, Iraqi Kurdistan and State. Universal Basic Education Board (SUBEB) from
the UAE, were up by 82% y/y to AED407mn The programme comes under the umbrella primary schools across the state and the train-
($111mn) in the first half of 2022, compared to of Experimento Initiative, which is an interna- ing would be largely practical and hands-on
an adjusted net profit of AED225mn in H1-2021. tional education programme offered by Siemens intensive in line with the globally established
The gains in Dana Gas’s profitability in the first Stiftung and Empowering Africans Through standards by Siemens Nigeria and Empowering
half were driven by elevated hydrocarbon prices. Education Initiative (EATEI). The initiative is Africans Through Education Initiative.
The company’s revenue for the first six geared toward applying modern approaches to In his remarks, the Local Content Manager,
months of the year increased 31% y/y to STEM education and providing educators with Siemens Energy, Samuel Abolade explained that
AED1.041bn, as compared to AED792mn in practical training and continuing education Siemens Energy’s objective is to become a hub
the first half of 2021, and its operating costs opportunities as well as high-quality teaching for human capital development in the world.
dropped 16% y/y. The company’s realised prices and learning experience. NCDMB, August 10 2022
during the first half of the year averaged $87/bbl Speaking at the kick-off ceremony held on
AEC congratulates

Abdirizak Mohamed on

appointment as Somalia’s

minister of petroleum

The African Energy Chamber (AEC) congratu-
lates Abdirizak Mohamed for his appointment as
Minister of Petroleum and Mineral Resources of
the Federal Republic of Somalia. While this role
may present challenges, the AEC firmly believes
in the capability of Minister Mohamed as he
drives the country into a new era of energy and
economic growth.

P18 www. NEWSBASE .com Week 33 18•August•2022