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NNPC, Sahara Group subsidiary, Edo state

build new road to serve oil communities

NIGERIA NIGERIAN National Petroleum Corp. (NNPC) Meanwhile, Edo governor Godwin Obaseki
has teamed up with the administration of Edo said he expected the state government, NNPC
state and a private company to build a 16.7-km and Sahara Group to complete the project – and
section of road between Ikpako and Ajoki. that steps had been taken to ensure that they did
NNPC, the state government and Enageed so.
Resources, a subsidiary of Sahara Group, kicked Funds for the project have already been
off the project on Thursday (February 10), deposited in a bank so that they cannot be
according to a report by The Punch. diverted, and the parties have signalled their
The partners are building the road along commitment by attending the launch ceremony,
a route that will serve several communities – he declared. “This signposts the fact that our
including Obatan, Evbuorokho, Ajoki, Abala, coming here today is an indication that it will
Kolokolo and Ajamokha – in the Ovia North be completed and not abandoned,” he said. ™
East and Ikpoba-Okha local government areas.
These communities are mostly populated by
agricultural and oil workers and their families.
NNPC group managing director Mele Kyari
said at the ceremony marking the project launch
that the road would help support economic
development in rural communities. State-
owned NNPC is supportive of such projects, he
said.
Sahara Group executive director Temitope
Shonubi struck a similar note. “Today, we are
celebrating the dawn of new opportunities, and
it is important to also note that the road is not to
promote accessibility only but to join communi-
ties together and bring development to the area
in a sustainable manner,” he remarked, as quoted
by The Punch.
Shonubi also drew attention to his company’s
push to provide the communities served by the
road with electricity, using gas that might oth-
erwise be flared from flow stations to power a
generator. Kyari (L) and Obaseki (R) at the project launch ceremony (Photo: NNPC)

INVESTMENT
EGAS to invest $900mn in exploration

and production in FY 2022/2023

EGYPT EGYPTIAN Natural Gas Holding Co. (EGAS) roster during Fiscal Year 2022/2023, which starts
plans to drill 13 exploration wells in the Med- on July 1, the company’s chairman Magdy Galal
iterranean and Delta regions, conclude three has said.
natural gas exploration agreements, implement The state-owned company has allocated
five development and production projects and $900mn for investment in research, develop-
add 33 wells with a total production capacity of ment and production in FY2022/2023, bringing
450mn cubic feet of natural gas and 17,200 bar- its total investment budget for the current and
rels per day (bpd) of condensate to the country’s upcoming fiscal year to $1.6bn.

Week 07 16•February•2022 www. NEWSBASE .com P7