The Nation Newspaper

Tag: Eni

  • Malabu Oil: FG begs for time to produce Adoke, Etete, others in court

    Malabu Oil: FG begs for time to produce Adoke, Etete, others in court

    The Federal Government Thursday urged a Federal High Court in Abuja to accord it more time to produce for trial, former Minister of Justice and Attorney General of the Federation (AGF) and others charged in the controversial $1.1billion Mababu Oil deal.

    The others are: former Petroleum Minister, Duazia Loya Etete (aka Dan Etete); businessman, Aliyu Abubakar;  Shell Nigeria Exploration Production Company, ENI, Malabu Oil and Gas Limited, Rocky Top Resource Limited, Imperial Union Limited, Novel Properties and Development Company Limited, Group Construction Limited and Megatech Engineering Limited.

    Adoke and Etete, who are said to be currently outside the country, are accused, in the charge before the court, of complicity in the massive fraud associated with the transfer of OPL 245 earlier held by Malabu Oil to Shell and Agip Oil.

    In the charges filed on behalf of the Federal Government by the Economic and Financial Crimes Commission (EFCC), the defendants are also accused of defrauding the government of $1.1 billion in a fraudulent transfer of OPL 245 ownership.

    When the case was mentioned Thursday, lawyer to the FG, Jonson Ojogbane told the court that the state was still unable to extradite Adoke and Etete for the purpose of producing them and others for arraignment.

    Ojogbane sought for more time for the government to conclude its on-going effort to have Adoke and Etete brought back to the country.

    Ojogbane said: “My Lord, my situation has not improved since the last time I came to court.

    “The process of getting the defendants to appear in court to face arraignment is very cumbersome, but it is ongoing.

    “We are hoping that very soon the process will be concluded,” he said.

    In view of Ojogbane’s request, which was not opposed by other lawyers in the case, Justice John Tsoho adjourned to February 15 next year.

    Ojogbane had, at the previous proceedings on June 13, told the court that the government has initiated the process of extraditing the two former ministers for the purpose of the trial.

    Ojogbane said “the Federal Government is doing everything within its power to bring them back to Nigeria to face trial.

    “The EFCC wants to ensure a holistic approach to the case and we want to ensure that those who are charged are tried together. All we need is some time.

    “If we are able to do this, then we’ll continue. Otherwise we take a major decision to see how we can proceed with those available for the trial.”

    When the case was first mentioned on April 3, Ojogbane told the court that the prosecution was having difficulties serving Adoke and Etete with the charges because they are outside the jurisdiction of the court.

    He applied for a warrant of arrest against both ex-ministers to compel them to attend court to answer to charges, an application Justice Tsoho declined on the grounds that the two have not been arraigned before the court.

  • Eni seeks less gas flaring in Africa

    A delegation from Italian energy giant Eni, led by Chief Financial Officer Massimo Mondazzi, has made a presentation to the World Bank to reinforce the firm’s continued commitment to sustainable growth.

    Speaking at the World Bank’s headquarters in Washington, Mondazzi underlined Eni’s resilience in the current economic environment, and spoke of the company’s efforts to allow a wider access to energy in the Sub-Saharan region of Africa.

    One of Eni’s key strategies for the region is the World Bank’s Global Gas Flaring Reduction Partnership (GGFR), a public-private initiative involving international and national oil companies, national and regional governments, and international institutions.

    The World Bank Group is leading the GGFR’s efforts to significantly reduce the amount of gas flared globally. It estimates that flaring resulted in the burning of 147 billion cubic metres of natural gas in 2015, a figure that could generate 750 billion KWh of electricity, which exceeds the current annual consumption of the entire African continent.

    Flaring gas wastes a valuable energy resource that could be used to support economic growth and progress. It also contributes to climate change by releasing millions of tonnes of carbon dioxide (CO2) to the atmosphere.

    “Eni is proud to be a member of the GGFR and we have been in the process of reducing gas flaring at our assets. We are committed to achieving zero process flaring by 2025” Mondazzi said.

    The energy giant has cut flaring by about 75 per cent in the last decade and wherever possible, the gas is made available to the local market for electricity generation, providing access to electricity to over 18 million people in Sub-Saharan Africa.

    “The World Bank recognises that Eni is following up its endorsement of the “Zero Routine Flaring by 2030” Initiative with action on the ground, working to use flared gas for power projects and other applications that reduce CO2 emissions. We also appreciate Eni’s push to deploy and integrate more renewable energy technologies into their business model,” said Riccardo Puliti, Senior Director and Head of the World Bank’s Energy & Extractive Industries Global Practice.

  • Eni starts production from Ghana’s offshore project

    Eni has begun production from the integrated oil & gas development project in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, two and half years, and three months ahead of schedule.

    According to the Deputy Division Manager, Lagos Liaison Office, Nigerian Agip Oil Company Limited (NAOC), Eni’s arm in Nigeria, Tajudeen Adigun, the OCTP integrated oil & gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometres off Ghana’s Western Region coast.

    The fields have about 770 million barrels of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe are non-associated gas (about 40 billion cubic metres).

    The project includes the development of gas fields whose production will be utilised by Ghana’s domestic market, he added.

    Production will be carried out via the “John Agyekum Kufuor” floating production, storage and offloading unit (FPSO), which will produce up to 85,000 barrels of oil equivalent per day (boepd) through 18 underwater wells.

    A 63-kilometre submarine pipeline will transport gas to Sanzule’s Onshore Receiving Facilities (ORF), where it will be processed and transmitted to Ghana’s national grid, supplying about 180 million standard cubic feet per day (mmscfd) of gas.

    Eni Chief Executive Officer, Claudio Descalzi, said: “Starting production only two and a half years after the approval of the development plan is an extraordinary result and a reason for great pride. It certifies our exploration skills and knowledge, as well as our field development vision, and it confirms the effectiveness of our new operational model, where Eni has a central role in project management, aimed at improving time-to-market.

    ‘’This is a result we are especially proud of, because it fits perfectly into the joint development vision that we have for Africa: we grow when the countries that host us also grow. The launch of OCTP will provide gas to Ghana for over 15 years and the resulting electricity will give a real boost to the country’s development. All of this has only been possible thanks to the unwavering commitment of Ghanaian authorities and of our partners.”

    Eni is the operator of the OCTP block with a 44.44 per cent stake, while Vitol holds 35.56 per cent and Ghana National Petroleum Corporation (GNPC) 20 per cent.

    Eni has been in Ghana since 2009 through its subsidiary, Eni Ghana, and with the start-up of OCTP Integrated Oil & Gas Development Project, the company has become one of Ghana’s main operators.

    Last year, Eni obtained a new exploration licence, Cape Three Points Block 4, adjacent to the OCTP Block. If successful, synergies with OCTP will allow a fast-tracked start-up.

    The drilling of the first exploration well is expected next year, in continuity with the drilling of Block OCTP wells. In addition, Eni Ghana is exploring  opportunities in the renewable energies sector.

    Eni Foundation has an important social and health programme in the western region, benefiting over 300,000 people.

  • Eni starts production from Ghana’s offshore project

    Eni has begun production from the integrated oil & gas development project in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, two and half years, and three months ahead of schedule.

    According to the Deputy Division Manager, Lagos Liaison Office, Nigerian Agip Oil Company Limited (NAOC), Eni’s arm in Nigeria, Tajudeen Adigun, the OCTP integrated oil & gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometres off Ghana’s Western Region coast.

    The fields have about 770 million barrel of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe of non-associated gas (about 40 billion cubic metres). The project includes the development of gas fields whose production will be utilised entirely by Ghana’s domestic market, he added.

    Production will be carried out via the “John Agyekum Kufuor” floating production, storage and offloading unit (FPSO), which will produce up to 85,000 barrels of oil equivalent per day (boepd) through 18 underwater wells. A 63-kilometre submarine pipeline will transport gas to Sanzule’s Onshore Receiving Facilities (ORF), where it will be processed and transmitted to Ghana’s national grid, supplying approximately 180 million standard cubic feet per day (mmscfd) of gas.

    Eni Chief Executive Officer, Claudio Descalzi, said: “Starting production only two and a half years after the approval of the development plan is an extraordinary result and a reason for great pride. It certifies our exploration skills and knowledge, as well as our field development vision, and it confirms the effectiveness of our new operational model, where Eni has a central role in project management, aimed at improving time-to-market. This is a result we are especially proud of, because it fits perfectly into the joint development vision that we have for Africa: we grow when the countries that host us also grow. The launch of OCTP will provide gas to Ghana for over 15 years and the resulting electricity will give a real boost to the country’s development. All of this has only been possible thanks to the unwavering commitment of Ghanaian authorities and of our partners.”

    Eni is the operator of the OCTP block with a 44.44 per cent stake, while Vitol holds 35.56 per cent and Ghana National Petroleum Corporation (GNPC) 20 per cent.

    Eni has been in Ghana since 2009 through its subsidiary, Eni Ghana, and with the startup of OCTP Integrated Oil & Gas Development Project, the company has become one of Ghana’s main operators.

    In 2016, Eni obtained a new exploration license, Cape Three Points Block 4, adjacent to the OCTP Block. If successful, synergies with OCTP will allow a fast-tracked start-up. The drilling of the first exploration well is expected in 2018, in continuity with the drilling of Block OCTP wells. In addition, Eni Ghana is exploring development opportunities in the renewable energies sector. Eni Foundation also has an important social and health programme in the western region, benefiting a population of over 300,000 people.

  • Eni starts production from Ghana’s offshore project

    Eni has begun production from the integrated oil & gas development project in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, in just two and a half years, and three months ahead of schedule.

    According to the Deputy Division Manager, Lagos Liaison Office, Nigerian Agip Oil Company Limited (NAOC), Eni’s arm in Nigeria, Tajudeen Adigun, the OCTP integrated oil & gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometres off Ghana’s Western Region coast.

    The fields have about 770 million barrel of oil equivalent (mboe) in place, of which 500 million barrels of oil and 270 mboe of non-associated gas (about 40 billion cubic metres). The project includes the development of gas fields whose production will be utilised entirely by Ghana’s domestic market, he added.

    Production will be carried out via the “John Agyekum Kufuor” floating production, storage and offloading unit (FPSO), which will produce up to 85,000 barrels of oil equivalent per day (boepd) through 18 underwater wells. A 63-kilometre submarine pipeline will transport gas to Sanzule’s Onshore Receiving Facilities (ORF), where it will be processed and transmitted to Ghana’s national grid, supplying approximately 180 million standard cubic feet per day (mmscfd) of gas.

    Eni Chief Executive Officer, Claudio Descalzi, said: “Starting production only two and a half years after the approval of the development plan is an extraordinary result and a reason for great pride. It certifies our exploration skills and knowledge, as well as our field development vision, and it confirms the effectiveness of our new operational model, where Eni has a central role in project management, aimed at improving time-to-market. This is a result we are especially proud of, because it fits perfectly into the joint development vision that we have for Africa: we grow when the countries that host us also grow. The launch of OCTP will provide gas to Ghana for over 15 years and the resulting electricity will give a real boost to the country’s development. All of this has only been possible thanks to the unwavering commitment of Ghanaian authorities and of our partners.”

    Eni is operator of the OCTP block with a 44.44 per cent stake, while Vitol holds 35.56 per cent and Ghana National Petroleum Corporation (GNPC) 20 per cent.

    Eni has been present in Ghana since 2009 through its subsidiary Eni Ghana, and with the startup of OCTP Integrated Oil & Gas Development Project, the Company has become one of Ghana’s main operators.

    In 2016, Eni obtained a new exploration license, Cape Three Points Block 4, adjacent to the OCTP Block. If successful, synergies with OCTP will allow for a fast-tracked start-up. The drilling of the first exploration well is expected in 2018, in continuity with the drilling of Block OCTP wells. In addition, Eni Ghana is exploring development opportunities in the renewable energies sector. Eni Foundation also has an important social and health programme in the western region, benefiting a population of over 300,000 people.

  • Eni, Saipem to be tried in Algeria corruption case

    Italian oil major Eni, oil services group Saipem and former Eni CEO, Paolo Scaroni have been ordered by an Italian judge to stand trial in an Algerian corruption case.

    The long-running case revolves around allegations Saipem paid intermediaries around 198 million euros ($218 million) to bag contracts worth 8 billion euros with Algeria’s state-owned Sonatrach, Reuters reports.

    Saipem has previously said the allegations relate to events that took place around 2010.

    In statements on Wednesday, Eni and Saipem said they were confident they would be able to prove the allegations were groundless.

    A lawyer representing Scaroni, CEO at Eni for nine years, said his client was innocent.

    “We are sure the court will recognise this as the judge in the first preliminary hearing had done,” said Enrico de Castiglione.

     

  • Eni trains indigenous companies on benefits of local content law

    Eni trains indigenous companies on benefits of local content law

    Eni Group, a conglomerate made up of Nigeria Agip Oil Company (NAOC), Nigeria Agip Energy (NAE) and Agip Energy and Natural Resources (AENR), has trained employees of about 370 indigenous companies in Port Harcourt on local content.

    It was during the Nigerian Content Week. They were tutored on how to reap from the content law in order to stay strong and efficient in business.

    Speaking to declare open the three-pronged capacity building programme, the Vice Chairman/Managing Director of Eni Group, Mr Massimo Insulla, explained that the training of indigenous contractors started in 2011. He added that it was aimed at helping “small and medium level vendors especially community contractors to grow entrepreneurial capacity to manage their own business more efficiently for the purposes of sustainability and profitability.”

    The Chairman, House Committee on Local Content, Hon. Emmanuel Ekon, said federal lawmakers would do everything to ensure that the local contractors succeed.

    Ekon also promised that his committee would amend some aspects of the NOGICD Act to enhance the operations of the indigenous companies.

    Also speaking, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr Denzil Kentebe, stressed the importance of the training, which, he said, is in line with what his organisation is doing.

    Kentebe expressed hope that the training would “help to create sustainable businesses and productive job opportunities for Nigerians”. He challenged the operators in the industry to “showcase breakthroughs in technology, research and development, execution of bigger and more complex work done by local vendors as the gains of these initiatives.”

    A representative of International Finance Corporation, Mrs Kate Iketubosin, enlightened the local contractors on how to structure their companies to enable them access funds as well as how to run businesses that would outlive them.

    The General Manager, Nigerian Content Development of NAOC, Mr Barry Nwibani, whose department anchored the training programme, expressed gratitude to the numerous stakeholders of the company and urged the vendors to take it seriously.

    During the second part of the training programme, titled ‘The Vendor Exhibition, Gap Closure and Opportunities Engagement, Eni said it would not shift focus from complying with the ideals of Nigerian content as enshrined in the NOGICD Act.

    The General Manager, District of NAOC, Mr Paola Carnevale, promised that the Eni would “respect all Nigerian laws and guidelines related to the procurement processes for award of contracts”.

    Carnevale, who was represented by the Technical Division Manager of NAOC, Mr Giona Gabriele, also said the company would remain a responsible corporate citizen by ensuring strict compliance with the provisions of the NOGICD Act.

    He added that 60 companies participated in the 2014 edition of the training. Of these, 40 are members of the Petroleum Technology Association of Nigeria (PETAN) while the rest are Eni vendors and OEMs.

    For this year’s engagement which Eni is doing in collaboration with PETAN, another set of 60 companies are taking part and this involves OEMs, Marine vessel owners/boat builders, drilling service providers, small scale manufacturers, fabricators and multinational companies.

    The Chairman of PETAN, Mr Emeka Ene urged companies in the oil and gas to come together in order to close the existing gaps.

    The third session of the training programme titled “Vendor Upgrade, Awareness and Sensitisation Engagement” was an opportunity for Eni to sensitise Nigerian companies on the opportunities available to them in the NOGICD Act.

    Carnevale said the event would help to enlighten indigenous companies on the provisions of NOGICD Act.

    Kentebe said the NOGICD Act is a “demonstration of government’s emphasis on indigenous contractors’ active participations in the oil and gas sector.”

    Kentebe, who was represented by the Manager, Monitoring and Evaluation of NCDMB, William Arikekpar, added that “the focus of Nigerian content is not ‘Nigerianization’ of the oil and gas sector but ‘domiciliation’ of value-adding activities.”

    Some of the participating companies, who also exhibited their products during the training programme, such as Topline Pipeline and Process Engineers, Elshcon Nigerian Limited and Lamesco Limited, lauded Eni for organising the capacity building for them.

  • Eni to sell Nigerian assets

    Eni SpA, Italy’s largest oil company, is considering selling part or all of its onshore Nigerian operations as it seeks to divest peripheral businesses amid a drop in oil prices, Bloomberg reports.

    Eni has asked advisers to look at options for the assets, which include interests in oil and natural-gas fields in the West African country.

    Depending on what Eni decides to sell, the transaction may raise from $2 billion to $5 billion. It could also decide to keep the operations.

    Eni’s Chief Executive Officer Claudio Descalzi has announced plans to sell assets worth 8 billion euros ($8.8 billion) in 2015-2018, including shares in subsidiaries Galp Energia SGPS and Snam SpA. He also proposed a 17 percent cut in investment over the same four years compared to previous plans to adjust to lower prices.

    Eni’s wholly owned subsidiary in the country, Nigerian Agip Oil Co., operates under a joint-venture agreement with Nigeria’s state oil company NNPC and ConocoPhillips. NAOC also operates two onshore exploration licences.

  • Eni to sell Nigerian assets

    Eni SpA, Italy’s largest oil company, is considering selling part or all of its onshore Nigerian operations as it seeks to divest peripheral businesses amid a drop in oil prices, Bloomberg reports.

    Eni has asked advisers to look at options for the assets, which include interests in oil and natural-gas fields in the West African country.

    Depending on what Eni decides to sell, the transaction may raise from $2 billion to $5 billion. It could also decide to keep the operations.

    Eni’s Chief Executive Officer Claudio Descalzi has announced plans to sell assets worth 8 billion euros ($8.8 billion) in 2015-2018, including shares in subsidiaries Galp Energia SGPS and Snam SpA. He also proposed a 17 percent cut in investment over the same four years compared to previous plans to adjust to lower prices.

    Eni’s wholly owned subsidiary in the country, Nigerian Agip Oil Co., operates under a joint-venture agreement with Nigeria’s state oil company NNPC and ConocoPhillips. NAOC also operates two onshore exploration licences.

     

  • 12 killed in Eni pipeline explosion

    Italian oil major Eni said on Friday an explosion at a repair site on one of its Nigerian oil pipelines killed 12 people and injured three on Thursday afternoon.

    “The causes of the incident are still under investigation by both Eni and the local authorities,” Reuters quoted the oil firm as saying in a statement.