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Tag: Shell Nigeria Exploration and Production Company (SNEPCo)

  • Esso Celebrates 20 Years of First Production from Erha Field

    Esso Celebrates 20 Years of First Production from Erha Field

    Esso Exploration and Production Nigeria Limited (EEPNL) has marked the 20th anniversary of first oil from the Erha Field located in OML 133, celebrating two decades of safe, reliable deepwater production and its significant contributions to Nigeria’s economy.

    Since first production on March 27, 2006, the Erha Field has produced over 800 million barrels of oil and delivered more than 850 crude cargoes, supporting Nigeria’s oil output, foreign exchange earnings, and employment. Over the past 20 years, Erha has generated more than $1 billion in royalties, over $22 billion in taxes, and approximately $300 million in levies, making it one of Nigeria’s most economically impactful deepwater developments.

    Since OML 133 was awarded to EEPNL and its partners in 1993, Erha was developed in partnership with the Nigerian Government, the Nigerian National Petroleum Company Limited (NNPCL), and Shell Nigeria Exploration and Production Company (SNEPCO).

    Commenting on the milestone, Jagir Baxi, Chairman and Managing Director of EEPNL, said the anniversary reflects the company’s long‑standing commitment to Nigeria’s deepwater sector.

    “This anniversary is a celebration of partnership, performance, and shared national progress,” Baxi said. “For 20 years, Erha has consistently delivered energy and enduring economic value for Nigeria, made possible through strong collaboration with government, our co‑venturer, and the dedication of our Nigerian workforce.”

    He added that the project has played a vital role in building Nigerian technical capacity through training, employment, and technology transfer, helping to position Nigeria as a respected deepwater producer globally.

    “Beyond being a production asset, Erha symbolizes the resilience, innovation, and collaboration that have defined Nigeria’s deepwater energy sector for the past two decades,” Baxi said. “It stands as a testament to what can be achieved through strong partnerships, technical excellence, and a shared commitment to safe and reliable operations.”

    The Erha development is recognized as one of the most advanced projects of its time, featuring pioneering technologies, including some of Nigeria’s deepest subsea wells and the first deepwater crude oil offloading buoy fully built in Nigeria. Produced via a large Floating Production, Storage and Offloading (FPSO) vessel, Erha sets new benchmarks for deepwater development and operations.

    Today, Erha is operated by a 95% Nigerian workforce, with over 800 of them supporting offshore operations. The field has played a central role in developing generations of Nigerian technical and operations leaders, while ensuring that the benefits of deepwater oil and gas development extend across the broader Nigerian economy.

    “Erha proves that world‑class deepwater operations and strong Nigerian content can grow together,” Baxi said. “It is a clear example of what long‑term investment, stability, and certainty can deliver for the nation.”

    As EEPNL marks this milestone, the company reaffirmed its commitment to continued safe operations at Erha and to supporting Nigeria’s long‑term deepwater potential through sustained collaboration and responsible development.

  • NUPRC approves $510m TotalEnergies divestment to Shell, Agip

    NUPRC approves $510m TotalEnergies divestment to Shell, Agip

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday, in Abuja, approved a $510 million deal enabling TotalEnergies Exploration and Production Nigeria Limited to divest its 12.5 per cent contractor interest in Oil Mining Lease (OML) 118 to Shell Nigeria Exploration and Production Company (SNEPCo) and Nigerian Agip Exploration Limited (NAE).
     
    The decision is coming days after withdrawing an initial approval over the poor consummation of the TotalEnergies and Chappal Energies deal, which first received a ministerial consent on October 28, 2024

    NUPRC, in a release signed by its Head of Media and Strategic Communications, Eniola Akinkuotu, said under the terms of the Sales and Purchase Agreement (SPA), TotalEnergies will transfer a 10 per cent interest to SNEPCo for $408 million, while NAE will acquire the remaining 2.5 per cent for $102 million. The transaction, however, remains subject to ministerial consent in line with the provisions of the Petroleum Industry Act (PIA) 2021.
     
    The Commission said it had conducted due diligence in line with Section 95 of the PIA to verify the financial capacity and technical competence of the assignees. It concluded that both SNEPCo and NAE already possess the expertise and resources to sustain exploration, development, and production in OML 118, where they maintain existing participatory interests.
     
    Crucially, NUPRC emphasised that SNEPCo and NAE would assume TotalEnergies’ decommissioning, abandonment, and host community obligations on the divested stake, thereby insulating the Federal Government from residual liabilities. As part of the approval conditions, SNEPCo and NAE are expected to pay five per cent and two per cent, respectively, of the total transaction value as premiums for ministerial consent and processing fees.
     
    The decision marks another step in the reshaping of Nigeria’s upstream sector, where International Oil Companies (IOCs) have been divesting onshore and shallow-water assets to streamline portfolios and manage risks, while regulators enforce stricter accountability on decommissioning and community responsibilities.

  • WISCAR Presents the 2023 Annual Leadership and Mentoring Conference: “In Her Own Voice: Forging Ahead”

    WISCAR Presents the 2023 Annual Leadership and Mentoring Conference: “In Her Own Voice: Forging Ahead”

    Women in Successful Careers (WISCAR), a non-profit and non-governmental organization committed to advancing professional women in Nigeria and across Africa, proudly announces its 2023 Annual Leadership and Mentoring Conference. The event will take place on Saturday, 9th December 2023, from 10:00 am to 3:00 pm at the prestigious Muson Centre, Onikan, Lagos.

    Themed “In Her Own Voice: Forging Ahead”, the conference will provide an opportunity for a transformative gathering where exceptional women, renowned speakers, policymakers, and thought leaders converge to share insights and engage in a diverse array of activities. The platform fosters inspiration, empowers professional women to take the lead in driving positive change, and generates actionable recommendations contributing to inclusive and sustainable national development. The event will kick off with a Mentoring Walk on Saturday, the 25th of November 2023, at Eko Atlantic City. This walk serves as the inaugural event, setting the tone for the conference and providing an opportunity for participants to engage in meaningful discussions.

    Commenting on WISCAR and its mission for women empowerment, Amina Oyagbola, Founder and Chairperson of WISCAR, said “WISCAR is dedicated to propelling professional women to the forefront of Nigeria and Africa’s development and growth. Drawing inspiration from ALIWA (Africa Leadership Initiative West Africa), we strive to cultivate a powerful network of female professionals equipped to lead, drive social innovation, and take critical decisions that will usher in a new era of excellence in the workplace. Our annual leadership conference is designed to foster a vibrant and supportive environment for women from diverse professional backgrounds to connect, share experiences, and forge meaningful connections. The theme of this year’s conference symbolizes our unyielding commitment to gender equality, women’s empowerment, inclusive governance, and sustainable development. It highlights the enduring and progressive voices of women—a generation poised to break new ground and guide society towards greater achievements and sustained growth and prosperity”.

    The conference will include networking and interactive sessions that drives innovation and encourage participants to engage with each other, expand their professional circles, and build lasting relationships. WISCAR believes that by fostering a sense of community and collaboration, it can empower women to leverage their collective strengths and advance in various fields.

    WISCAR is supported by a variety of organizations that share a commitment to the cause. Diamond sponsors include First Bank of Nigeria, United Airlines, and Pacific Holdings Limited. The platinum sponsor is First City Monument Bank, and the gold sponsor is IHS Nigeria Limited. The silver sponsors are Stanbic IBTC Holdings, Shell Nigeria Exploration and Production Company (SNEPCo), The Shell Petroleum Development Company of Nigeria Limited (SPDC), SunTrust Bank Nigeria Limited, and FSDH Merchant Bank. Bronze sponsors consist of Mainone, Ernst & Young, FBNQuest Merchant Bank, FBNQuest Asset Management, TAJ Bank, and Access Bank. Additionally, strategic sponsors UN Women, Habiba Balogun Consulting, Oyagbola Chambers, AKMS Consulting, Hills + Knowlton Strategies, and DKK contribute to WISCAR’s success.