The nation has an Energy transition plan to get us to net zero greenhouse gas emission by 2060. However, there are many factors that need to be considered and appropriately addressed in the nation’s shift to its sustainable energy future.
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Chief Executive, Gbenga Komolafe, the oil blocks available are at depths of between about 1,200 meters (3,936 feet) and 3,100 metres offshore Lagos.
“In addition to the repairs, we are working to remove and clamp theft points on the onshore pipelines to ensure full crude oil receipt at the terminal,” SPDC’s Media Relations Manager, Abimbola Essien-Nelson, said in a statement on Wednesday.
The budget, which is the last presented by the Buhari administration, is about 15.37 per cent higher than the amount budgeted in 2022 Buhari revealed this while presenting the 2023 appropriation bill to a joint session of the National Assembly in Abuja that the federal government targets N1.92tn in oil revenues in 2023.
A breakdown of the allocation of the fields to indigenous operators is as follows: two fields awarded in 1999, 24 in 2003/2004, one each in 2006 and 2007, and two in 2010. Ten years after, in 2020, 57 fields were put up for bidding.
The company in a statement signed by its Chief Financial Officer, Emeka Onwuka, on Thursday noted that it has received no official notification of such a decision and is seeking clarification from the relevant authorities.
According to the Managing Director, TotalEnergies Exploration and Production Nigeria, Mr Mike Sangster, that is the type of project Nigeria needs now to meet its Organisation of the Petroleum Exporting Countries (OPEC) quota.
The 67km mostly underground pipeline is expected to provide a more reliable and secure export route for liquids from Seplat Energy’s major assets OML 4, 38 and 41, connecting them with the Chevron-operated Escravos Terminal.
The striking workers claimed that the Federal Government has done everything possible through the National Petroleum Investment Management Services (NAPIMS) to ensure issues are settled amicably but Addax Management is frustrating every move by NAPIMS and other stakeholders to resolve the issue.