News

OAS acquires Leonardo AW-139 to boost offshore operations

DailyTimesNGR DailyTimesNGR 22 November 2023 0

BY CHUKWUEMEKE IWELUNMO An offshore and allied services company, Odengene Air Shuttle Services Ltd (OAS Helicopters) has announced acquisition of a new equipment, 2023 model Leonardo AW-139. The AgustaWestland AW139, now known as the Leonardo AW139, is a 15-seat medium-sized twin-engined

Business

Nigeria sets to hold 7 offshore bid round in 2023

Ihesiulo Grace 27 December 2022 0

The federal government has scheduled to hold a mini-bid round for seven offshore blocks next year. The exercise, which is the first after the passage of the Petroleum Industry Act(PIA), is expected to spur new exploration. The last mini-bid round held in April 2007 under the old regulatory regime offered 45 blocks, chief executive, of […]

Energy News

Beijing offshore oil coy to invest $3bn in Nigeria

Ihesiulo Grace 16 July 2018 0

The Management of China National Offshore Oil Corporation (CNOOC), has expressed readiness to invest additional $3 billion in its existing stakes in offshore oil and gas operations in the Nigerian jurisdiction. Leading a team of CNOOC top executives to the corporate headquarters of the Nigerian National Petroleum Corporation (NNPC), Yuan Guangyu, Chief Executive Officer of

Energy News

NNPC JVC deal: FG to generate $5.60bn in taxes & royalties

Ihesiulo Grace 1 July 2018 0

Final nod was given weekend in London to the tripartite financing and technical services arrangement between NNPC/FIRST E&P JV and Schlumberger for the Anyalu and Madu fields under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria. The execution of the final contractual agreement comes a year after it was initiated. The NNPC said […]

News

NNPC achieves 71 percent savings in deep offshore rig-rate

Ihesiulo Grace 23 February 2017 0

The Nigerian National Petroleum Corporation, NNPC, has renegotiated its deep offshore rig-rate from a staggering $580,000 to $164,000 per day, saving the country a 71.7 per cent cost of executing a similar operation in the past. Similarly, the Corporation has achieved a 35 per cent downward review of rig rates per day for both swamp […]